What is strategic planning?

Strategic planning is fundamentally about defining an organization's strategy or direction. This process involves analyzing the internal and external environments, establishing long-term goals, and determining how to allocate resources to achieve those goals effectively. It provides a framework for decision-making and sets the overall vision for the organization, guiding all subsequent actions and initiatives in alignment with that vision.

While assessing employee performance, managing daily operations, and developing training programs are important aspects of organizational management, they do not encapsulate the essence of strategic planning. These activities are typically more tactical or operational in nature, focusing on specific functions within the organization rather than the overarching direction or strategy that defines where the organization wants to go in the future.