Integrating Risk with Business Planning
- Published on Monday, October 08, 2012
- Written by Web Editor
While some may use the two terms interchangeably to describe the same process, “business planning” is distinguished from “strategy setting” in two fundamental ways.
First, strategy setting establishes the enterprise’s overall strategic direction, differentiating capabilities and required infrastructure to make those capabilities a reality, whereas a business plan lays out how the company intends to execute its strategy.
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