Strategic planning

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Strategic planning is the systematic approach to defining long-term business goals and planning the means to achieve them.

Definition

According to Juran's Quality Handbook by Defeo (7th edition),

Strategic planning. The systematic approach to defining long-term business goals and planning the means to achieve them.

According to the Corporate Strategy by Lynch (4th edition),

Strategic planning. A formal planning system for the development and implementation of the strategies related to the mission and objectives of the organization. It is no substitute for strategic thinking.

According to Managerial Accounting by Braun, Tietz (5th edition),

Strategic planning. Setting long-term goals that may extend 5 to 10 years into the future.
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