Strategic Planning is the formal
consideration of an organization's future course. All strategic planning
deals with at least one of three key questions:
- "What do we do?"
- "For whom do we do it?"
- "How do we do it?"
In business strategic planning, the third question
is better phrased "How can we beat or avoid competition?".
In many organizations, this is viewed as a process
for determining where an organization is going over the next year or more
-typically 3 to 5 years, although some extend their vision to 20 years.
In order to determine where it is going, the
organization needs to know exactly where it stands, then determines where it
wants to go and how it will get there. The resulting document is called the
"strategic plan".
