Strategic Planning: What is the Purpose of Strategic Planning?

Purpose of strategic planning
Student’s Name
University Affiliation
Purpose of strategic planning
Strategic planning is a management activity of an organization that is used in the setting of priorities, strengthening operations, ensuring stakeholders and employees are working towards the common goals. It helps in the establishing of agreement on the aimed results of the business, resources and the focusing energy. Strategic planning enables assessing and adjusting the direction of the organization in response to the dynamic environment of business. Strategic planning in business has the purpose of setting of the overall goals for a business and developing the executable plan to achieve the goals. The strategic planning combines the objectives and the tactics that can be used to identify the key indicators of performance in a business and balancing of the scorecards (Thomas, 2012).