With Strategic planning an organization can effectively define its strategy, or direction. this allows making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy.
The Step for Developing a Strategic Plan is
Step 1: Write a Vision Statement.
Step 2: Write a Mission Statement.
Step 3: Perform a Gap Analysis.
Step 4: Write SMART Goals.
Step 5: Monitor Progress.

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