Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue its strategy. There are various business analysis techniques used in strategic planning such as: SWOT-Strengths, Weaknesses, Opportunities & Threats and PEST-Political, Economic, Social, and Technological.
Strategic Planning should ask these three questions of their organization:
1) What do we do?
2) For whom do we do it?
3) How do we excel?