GENERAL KNOWLEDGE

Detailed explanation-1: -Strategic planning is a process in which an organization’s leaders define their vision for the future and identify their organization’s goals and objectives. The process includes establishing the sequence in which those goals should be realized so that the organization can reach its stated vision.

Detailed explanation-2: -What is long-term planning? Long-term planning involves goals that take a longer time to reach and require more steps; they usually take a minimum of a year or two to complete. They aim to permanently resolve issues and reach and maintain success over a continued period.

Detailed explanation-3: -What Is Long-Range Planning? Long-range planning can be defined as the processes used to implement an organization’s strategic plan. It’s about aligning the business’ long-term goals and developing action plans in line with the strategic plan.

Detailed explanation-4: -Strategic planning is the process of setting long-term goals for a business and highlighting how to achieve them. Strategic planning evaluates your current position, where you want to be as a department or business, and how to get there. It involves selecting long-term priorities and allocating resources to them.

Detailed explanation-5: -Strategic plans outline a long-term vision for the organization. They specify the organization’s reason for being, its strategic objectives, and its operational strategies-the action statements that specify how the organization’s strategic goals are to be achieved.