Distinction between Strategic Planning

and Strategic Management

• Strategic Planning is a future oriented activity which tends
to determine the organizational strategy and used to set
priorities. Strategic Management implies a bundle of
decisions or moves taken in relation to the formulation and
execution of strategies to achieve organizational goals.
The following are the main differences between
strategic planning and strategic management
• Strategic planning is a management by coming up with plans to be implemented
in the near future. Strategic management is a management by results.
• Strategic planning is an analytical process, while strategic management is an
action-oriented process.
• A future-oriented activity which ascertains the organizational strategy and used
to set priorities, is called strategic planning. On the other hand, strategic
management is decisions taken by the top managers in relation to the creation
and implementation of strategies to achieve organizational goals.
• Strategic planning focuses on making optimal strategic decisions, while strategic
management is about producing results such as, new products or new
technologies.
• Strategic planning activity uses management by plans, whereas
strategic management process uses management by results.
• The strategic planning is analytical since it is characterized by thinking.
On the other hand, strategic management is an action-oriented
activity.
• Strategic planning involves the identifying actions to be taken, while
Strategic management involves identifying actions the organization
should take, the individuals to perform those actions, the right time
and way to perform those actions.