In today's business environment, strategic planning stresses the importance of making decisions that will ensure an organization's ability to successfully respond to changes in the environment and plan for sustainable viability.
Strategic planning is a process in which organizational leaders determine their vision for the future as well as identify their goals and objectives for the organization. The process also includes establishing the sequence in which those goals should fall so that the organization is enabled to reach its stated vision.
Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization's direction in response to a changing environment. It is a disciplined effort that produces fundamental decisions and actions that shape and guide what an organization is, who it serves, what it does, and why it does it, with a focus on the future. Effective strategic planning articulates not only where an organization is going and the actions needed to make progress but also how it will know if it is successful.
Developing a strategic plan can seem like an overwhelming task, but the best place to start is by defining the strategic planning process. The definition of a strategic planning process is quite simply the process of envisioning a future and translating this vision into defined goals, objectives, strategies and tactics. To survive in business, organizations have to make tough decisions and create “battle plans” for success. It is hard to accomplish anything without a plan, but if you don’t understand strategic planning, clarifying the basics is a great way to start.
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