Strategic planning is an organizational management activity that is used to set priorities, allocate resources, and achieve desired results. It is the process of developing a plan that will guide an organization in achieving its goals.
The strategic planning process usually begins with a review of the organization’s current situation, including its strengths and weaknesses. This information is then used to develop a vision for the future. The next step is to set goals and objectives, which will be used to create a plan of action.
Once the plan is in place, it must be implemented and monitored to ensure its effectiveness. Adjustments may need to be made along the way, but the goal is to ultimately achieve the desired results.
An important part of strategic planning is being able to adapt to change. No matter how well thought out a plan may be, there will always be unforeseen circumstances that can impact its success. Being flexible and willing to adjust as needed can help increase the chances of achieving one’s goals.