Strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future. It involves the best way to respond to circumstances and includes intentional goal setting. It’s an essential first step in the development of a results-based accountability system for any company today.
The major problem facing top management is to make sense of a spectrum of information and apply appropriate tools and techniques in driving an organization through a complex and continually changing competitive environment. The complexity of real life can be structured as a process involving objective setting, analyzing competitive positioning, choosing a strategy, implementing it and adapting to feedback over time. All these steps are crucial and organizations succeed or fail depending on the robustness of their strategic processes and strategic planning.