Although there are many crossovers, strategic planning differs from business planning in one crucial way.
Strategic planning is longer term and usually focuses on the next 36-60 month period; business planning focuses on the next 12 - 24 months and is more specific.
A crucial but often neglected aspect of strategic planning is assessing why the business is not looking to do certain things; it is as much about challenging assumptions as it is about establishing direction.
It also takes into account the impact of a much broader range of influences that are both inside and outside of the businesses control.
A good example is that a strategic plan will say “we intend to grow by making an acquisition within the next three years”, a business plan will say “we are seeking to acquiring XYZ business within the next twelve months as part of our strategic objectives”
We work with clients in two ways, either leading and guiding the planning process or providing independent, expert input as part of their strategic planning team. Engagements vary from (typically) two months through to ongoing support over several months or even years.