Strategic planning is a systematic process that guides an organization toward its long-term goals.

It involves defining the organization’s mission, vision, and values, conducting a thorough environmental analysis, identifying core competencies, and setting clear objectives.

Through strategic planning, organizations can allocate resources effectively, make informed decisions, and adapt to changing market conditions.

It’s a crucial tool for ensuring long-term sustainability and competitive advantage.

Key components include SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), goal setting, and developing action plans.