Strategic Planning

Definition

Strategic planning refers to the process of setting goals and determining actions to achieve those goals within an organization. It involves analyzing current conditions, predicting future trends, and making decisions that align with long-term objectives.

Related terms

SWOT analysis: A strategic planning technique used to assess an organization's strengths, weaknesses, opportunities, and threats.

Mission statement: A concise statement that outlines an organization's purpose, values, and primary objectives.

Tactical planning: Short-term planning focused on specific actions required to implement a strategic plan.