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Operational and strategic planning are two fundamental components of the management process, each serving distinct purposes within an organization. Strategic planning is primarily concerned with the long-term vision and overall direction of the organization. It involves setting broad objectives, defining the mission and goals, and determining the allocation of resources to achieve these objectives over an extended period, typically three to five years or more. Strategic planning is proactive in nature, focusing on anticipating future challenges and opportunities, assessing external and internal environments, and creating policies that guide the organization towards its vision. It is often the responsibility of top management, including executives and board members, as it requires a comprehensive understanding of the organization's overall capabilities and market position. Strategic ________ _______ _________ ________ _________ ___ _______ _________ __________ ________.
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