What is Strategic Planning?

Strategic planning is the process of documenting and determining a business's trajectory by evaluating both where it is and where it wants to go. A strategic plan is a place where you can write out your mission, vision, and values, as well as your long-term objectives and action plans for achieving them. Because it advises you and your workers on how to respond to opportunities and difficulties, a well-written strategic plan can play a critical role in the growth and success of your business.