It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. The development and execution of strategic plans is a well-thought-out plan performed in three critical steps: The strategic planning process are the steps that you go through as an organization to determine: the direction of your organization (Vision) what you're going to do and for whom (Mission) how to measure it and guide your strategy to get to where you want to be (Goals) It is here that priorities are set. The application of strategic planning in business is a result of difficult managerial decisions that comprise good and less desirable courses of action. The Strategic Planning Process Steps, Definition & Model Definition of Strategic Planning Strategic planning is the tool which clearly identify goals and objectives of an organization as well as it also assess the internal and external situation required to formulate and implement the strategy.

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It is executed by strategic planners or strategists, who involve many parties and research sources in their …


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