What is strategic planning?

Question

Quizplus · Accepted Answer

Strategic planning is the process of defining the long-term objectives of a firm and identifying the means by which these objectives are to be achieved. It involves analyzing the firm's current situation, identifying opportunities and threats in the external environment, and leveraging the strengths and addressing the weaknesses of the organization to create a plan for success. The strategic plan should include specific, measurable goals, timelines for achieving those goals, and a clear roadmap for implementing the plan. It is a process by which the long-term objectives of the firm get defined and the means by which these objectives are to be achieved.

What Is Strategic Planning