Strategic planning is a tool that helps organizations:

Strategic planning is an essential process for organizations seeking to achieve their long-term goals. It involves a comprehensive approach that encompasses several key components: determining the future aspirations of the organization, assessing the current position, and outlining the actionable steps to reach the desired future state.

Deciding where an organization wants to be in the future is fundamental to strategic planning. This vision sets the direction and objectives that guide decision-making and resource allocation. Understanding the current standing of the organization is equally important, as it provides a baseline from which progress can be measured and allows for a realistic assessment of capabilities and challenges.

Additionally, the process of planning how to achieve the desired future involves formulating strategies that address the gaps between the present state and the goals set for the future. This includes identifying necessary resources, timelines, and the implementation of specific initiatives.

The interconnection of these components—setting goals, assessing the current situation, and developing a roadmap to reach those goals—illustrates why choosing all of these elements collectively is the most comprehensive representation of what strategic planning entails.