Strategic Business Planning generally focuses on a particular product, service or program. Chalking out, maintaining and upgrading a Strategic Business Plan is essential for any business (including successful and growing businesses).

Essentially, a Strategic Business Plan is, theoretically, a no-holds-barred, can-do approach to success. It calculates every imaginable variable, and accounts for it. It attempts to set in motion and monitor events ahead of time, so that the plan will always be updated with the current moment. This way, the company will not be caught unawares in an ever-changing economy, and won't end up using a tactic that might have worked yesterday, but will not work today.

Business planners of an organization, just like salespersons, should be aware of and remain updated about the features, utilities and feedback of any particular product or service or program provided by their organization.

The following should be presented while formulating a successful Strategic Business Plan: