STRATEGIC PLANNING(MEANING)

Strategic Planning (MEANING)

 It is the process of determining the objectives of the firm, resources required to attain these objectives and formulation of policies to govern the acquisition, use and disposition of resources. Strategic planning involves a fact of interactive and overlapping decisions leading to the development of an effective strategy for the firm. Strategic planning determines where an organization is going over the next year or more and the ways for going there. The process is organization- wide, or focused on a major function such as a division or other major function.

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