Strategic planning is a process that defines an organization’s long-term goals and objectives and develops a plan to achieve them. It involves analyzing the current situation, goal setting, developing strategies to achieve them, and then implementing and monitoring the plan’s progress. Strategic planning is a part of organizational management and decision-making and can help organizations to remain competitive in their markets.
Strategic planning provides organizations with a roadmap for success, helps align resources and efforts, and enables proactive decision-making. It guides making strategic choices, allocating resources efficiently, and adapting to dynamic market conditions to achieve long-term success.
The strategic planning process typically involves several key steps. Here are the general steps involved in strategic planning:
Strategic plans can vary depending on the organization’s specific goals and objectives. Here are some common types of strategic plans: