What is Strategic Planning ?
Strategic planning is a process organizations use to define their long-term goals, set priorities, and allocate resources to achieve those objectives. It involves analyzing the internal and external environment, understanding the organization's strengths and weaknesses, and identifying opportunities and threats. The main goal is to align the organization’s mission, vision, and actions with its overall direction, ensuring a clear roadmap for growth and success. Strategic planning typically results in a formal document that guides decision-making, resource allocation, and performance tracking over time. Strategic planning is a systematic process used by organizations to define their direction, establish priorities, and allocate resources to achieve specific long-term goals. It helps organizations anticipate future challenges, make informed decisions, and stay competitive by aligning their efforts with a clear mission and vision. Here is a detailed breakdown of the concept: 1. Defini...