Business entities such as Dell must have clear processes that outline the organization and preparations that are put in place to plan for future events in relation to the current situation, mission, and vision. This is normally implemented in strategic planning initiatives (Scudder, 2011). Consequently, strategic plans for future events require financing to be accomplished and this is where strategic planning meets financial planning. In order for Dell to accomplish the strategic plans put in place there must be a systematic financial plan that puts into perspective the strategic plans as highlighted in the initiative. At the organizational level, Dell has made it a culture to inculcate best practices that promote business, customers, and shareholders’ growth.
An important aspect in strategic planning is to focus on the growth of business rather than on profit because there can be profit without growth but not the other way round. For that matter, Dell focuses on strategic planning which drives its growth by focusing on the company’s mission and vision while ensuring that financial plans are aligned with the strategic plans of the company. Additionally, even as a strategic plan might extend to a period longer than that of a financial plan it is important for management and financial planners in each subsequent years following the start of a strategic planning initiative to take into consideration of the existing strategic plan such as the need to increase market share through advertisements to customers and expanding new markets both in the home country and abroad.
As has been observed by Runy (2013), "a financial plan without strategy isn't much of a plan," and in the same spirit,” "a strategic plan without financial backing isn't much of a strategy." This implies that both financial and strategic planning are dependent on each other and as such Dell will need to look into projects and services that are proposed as part of expansion and growth so that they are all financially and strategically sound in their nature.