Strategic planning

Strategic planning is the process of creating a long-term vision and plan for an organisation or individual and identifying the necessary steps to achieve that vision. It involves defining goals, objectives, and priorities, developing a strategy for allocating resources, and making decisions to achieve those goals.

The process of strategic planning typically involves several key steps. These may include conducting a SWOT analysis to identify strengths, weaknesses, opportunities, and threats; defining the organisation's mission, vision, and values; setting strategic goals and objectives; identifying key performance indicators (KPIs) to measure progress; and developing a plan of action with timelines and milestones.

Strategic planning is important because it helps individuals and organisations focus their efforts and resources on achieving specific goals and objectives. It can also help to identify potential challenges and opportunities and develop contingency plans to address them. By taking a long-term, holistic approach to decision-making, strategic planning can help to ensure that resources are allocated effectively and that decisions are aligned with the overall vision and mission of the organisation or individual.

There are several benefits to strategic planning. It can help individuals and organisations to:

* Identify and prioritise goals and objectives.
* Align resources and decision-making with the overall vision and mission.
* Identify potential challenges and opportunities.
* Develop contingency plans to address unexpected events.
* Measure progress and adjust course as needed.
* Improve communication and collaboration among stakeholders.

Strategic planning

Related Semantic Entities for Strategic planning