The Management of an organization (business) is not only concerned with the various departmental requirements, it is concerned with the strategic planning as well. Strategic formulation is a blend of three main processes which are as follows:

Situation Analysis:

What is situation analysis? It is the method of performing an analysis of the situation, self-evaluation and competitor analysis: both internal and external; it is related to both micro-environmental and macro-environmental issues. Situation analysis can best be done with the help of Business Management Software. A situation cannot be analyzed alone. The management requires requisite information about its resources in order to plan properly. Strategic analysis is possible only when planning is according to the requirement. A situation can best be analyzed from the perspective of the management. For example, when there is low stock, then there might be issues related to buying and selling. This means monetary issues are involved in this case. The management decides on the monetary matters to solve the issue. Money can be taken as loan from outside or from the organization itself, if the situation be such. Business Management Software enables accurate flow of information and proper data storage facilities. From the stored data, situation analysis can be done.

Setting Objective:

Concurrent with this assessment, objectives can be set. These objectives should be similar to a time-line; some are in the short-term and others on the long-term. This engages crafting vision statements (long term view of a possible future), mission statements (the role that the organization gives itself in society), largely corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives. Since data can be managed with the help of Business Management Software, corporate objectives and strategic business objectives can be set. This is done by consulting all the relevant data which are stored in the Business Management Software. Those data are analyzed by the management before going into any conclusion. Needless to say, such a vital issue as financial planning can best be done with the assistance of the business management software.

Suggesting a Strategic Plan:

These objectives should, in the light of the situation analysis, propose a strategic plan. The plan offers the details of how to achieve these objectives and also takes care of all your purchasing needs. How will they be done? They will be done with the help of business management software tool. It will help in close scrutiny of all the relevant issues. When all the issues will be right in front of the eyes, the management can decide easily. Business management software has database which is much better and more efficient than any other software. It is prepared while keeping in mind the specific business requirements. Moreover, there is a provision for customization which allows best results. Whenever you need the software, according to your specific business requirements, the implementations can be done and the software can be customized. This specific functionality has made it one of the most accepted among the business groups all over the world.