Strategic Planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.
The following are thetasks of strategic planning:
- Developing a strategic vision and business mission.
- Setting Objectives.
- Crafting Tactics to achieve organizational objectives.
- Implementing and executing the tactics.
- Evaluating and Measuring performance.
Therefore, developing a strategic vision and a business missionis the first task of Strategic Planning.