Strategic Planning is a systematic process that organizations use to define their direction and make decisions on allocating resources to pursue this direction. It involves setting goals, determining actions to achieve those goals, and mobilizing resources to execute the actions. This process helps organizations align their activities with their mission and vision, ensuring that all efforts contribute to long-term success.
Effective strategic planning requires a thorough analysis of the internal and external environments, often utilizing tools like SWOT analysis to identify strengths, weaknesses, opportunities, and threats. By engaging stakeholders and fostering collaboration, organizations can create a roadmap that guides them toward achieving their objectives while adapting to changing circumstances.