The former is likely to be a (very) short document whereas a business plan is usually a much more substantial and detailed document.
A strategic plan can provide the foundation and frame work for a business plan.
A statement along these lines indicates what the business is about and is infinitely clearer than saying, for instance, "we're in electronics" or worse still, "we are in business to make money" (assuming that the business is not a mint ! Also, some people confuse mission statements with value statements (see below) - the former should be very hard-nosed while the latter can deal with 'softer' issues surrounding the business. designs, develops, assembles and markets systems for data base management.
These systems integrate its proprietary operating system software with hardware supplied by major manufacturers, and are sold to small, medium and large-sized companies for a range of business applications.
A satisfactory strategic plan must be realistic and attainable so as to allow managers and entrepreneurs to think strategically and act operationally - see Devising Business Strategies for further insights.
A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition.which indicates in a factual way the purpose and activities of the business in terms of operations, (unique) characteristics, functions, customers, offerings, sectors/segments, scale/scope/penetration, methodologies, technologies, resources etc.Just answer the questions as to what the business is and does in qualitative terms.For more information about business plans, refer to How to Write a Business Plan, Insights into Business Planning and Free-Plan: Business Plan Guide & Template.A strategic plan is not the same thing as an operational plan.That's why a business review or preparation of a strategic plan is a virtual necessity.This may not be a recipe for success, but without it a business is much more likely to fail.The former should be visionary, conceptual and directional in contrast to an operational plan which is likely to be shorter term, tactical, focused, implementable and measurable.As an example, compare the process of planning a vacation (where, when, duration, budget, who goes, how travel are all strategic issues) with the final preparations (tasks, deadlines, funding, weather, packing, transport and so on are all operational matters).Recommendation: Review the paper on this page If you don't know where your business is going, any road will get you there.Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives.