WHAT IS STRATEGIC PLANNING? HOW TO APPLY IT TO ECOMMERCE.

In this article, we will explore the process of strategic planning, how to plan your business strategy, and what tools you can use to get started.

Strategic planning is a deliberate process for setting goals and creating a framework for executing them. This approach is used by businesses to create or advance their competitive advantage in the marketplace over time.

A business without a strategy is like navigating a ship without navigation instruments to tell where it’s going, where it has been, or if it’s off course. Business strategy provides the framework for making important decisions. It serves as a guide for businesses to chart their direction and navigate through change.

Strategic planning is essential because it compels businesses to consider the environment in which they operate, set objectives, and formulate actions designed to achieve these objectives.

In the ecommerce industry, strategic planning h...