Strategic planning is the process of planning your business goals. It includes both an evaluation of where your company is currently and what you would like to achieve. Then you can map out a strategy to get there.
A strategic plan should include your company’s mission statement, values, and vision. It comprises of not only your goals but the steps that you will take to achieve them. This plan can be highly beneficial, as it gives the entire business something to work towards and gets everyone on the same page around your goals. It also offers an insight into how you can best respond to challenges and opportunities.