Business planning needs to balance the possible with the achievable

Strategic planning and business planning require the capacity to balance what may be possible with what is achievable.  A major pitfall in strategic planning and business planning is failure to implement the plan or to put in place the essential conditions for organisational or leadership success. The planning process requires expertise, processes and models to help identify the possibilities as well as to make the right strategic and business decisions.  Along the way business leaders need to put in place the skills, systems and resources to implement their plans and operate in the new strategic or business environment.  In other words, success comes from embedding the skills and processes so that successful implementation of the strategy or business plan does not depend upon their involvement alone.  Strategic planning and business planning requires consideration of many factors.  Here is a reference to some of the typical  components of the strategic planning and business planning process.