Corporate strategic planning is the process of defining goals and identifying effective ways to achieve these goals in the long term. Strategic planning aims to determine the overall direction of the company and develop action plans to achieve this direction effectively.
The strategic planning process begins with defining the company's vision and mission, including determining the ultimate goal and desired purpose of the company.
Evaluation of external factors such as market trends, legal regulations, and competition, in addition to analyzing the capabilities, weaknesses, and strengths within the company.
Regular monitoring of plan execution and performance evaluation are conducted to ensure the correct direction and achievement of specified goals, with adjustments or changes made as necessary.
Strategic planning requires flexibility and the ability to adapt to changes in the external and internal environment; therefore, planning must be periodic and continuous.