What is strategic planning in SAP IM - Investment Management?

SAP Term: strategic planning

• Component: IM

• Component Name: Investment Management

• Description: The planning and management accounting at the group level. The planning at this level is not as detailed as local planning. In a virtual investment program for the entire group, planning takes place only on strategic characteristics and on appropriation requests and projects of strategic importance. From a technical point of view, planning takes place in a central system using SEM-BPS. It is carried out by planners and management accountants centrally in the group headquarters. Strategic planning acts as the basis for approval of the budget in local planning.

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• Key Concepts: 
  Strategic planning in SAP Investment Management (IM) is the process of setting goals and objectives for an organization and developing a plan to achieve them. It involves analyzing the current situation, forecasting future trends, and developing strategies to capitalize on opportunities and mitigate risks. It also involves setting targets, allocating resources, and monitoring progress. 
  
  How to use it: 
  In SAP IM, strategic planning is used to create a long-term vision for the organization. This includes setting goals and objectives, analyzing the current situation, forecasting future trends, and developing strategies to capitalize on opportunities and mitigate risks. The strategic plan is then used to guide decision-making and resource allocation. 
  
  Tips & Tricks: 
  When creating a strategic plan in SAP IM, it is important to involve stakeholders from all levels of the organization. This will ensure that everyone is on the same page and that all perspectives are taken into account. Additionally, it is important to review the plan regularly to ensure that it remains relevant and up-to-date. 
  
  Related Information: 
  SAP IM also provides tools for tactical planning, which is used to develop short-term plans that are aligned with the strategic plan. Additionally, SAP IM provides tools for budgeting and forecasting, which are used to allocate resources and monitor progress towards achieving the strategic goals.