the process of documenting and establishing a direction of your small business—by assessing both where you are and where you're going. The strategic plan gives you a place to record your mission, vision, and values, as well as your long-term goals and the action plans you'll use to reach them.
The benefit include,
Analyse the market situation
Know the what the people needs
Manipulate market to increase demand.
Proper advertisement and recruitment at our own risk if necessary