7.1. Strategic Planning: Definition of Strategic Planning

Strategic planning is a management process that aims to define the direction to be followed by an organization. It seeks to ensure that decisions made today are aligned with the company's vision of the future and the steps needed to achieve it. Strategic planning is a vital tool for companies, regardless of their size, as it allows them to anticipate changes in the business environment and prepare for the future.

In essence, strategic planning is a decision-making process about what the company should do to achieve its objectives. This involves defining goals and objectives, identifying opportunities and threats, analyzing the company's strengths and weaknesses and developing strategies to achieve the defined objectives. Strategic planning also involves implementing strategies and monitoring progress toward goals.

Strategic planning begins with defining the company's mission, which is the reason for its existence. The mission must be clear and concise, and must reflect the company's values ​​and culture. After defining the mission, the company must define its future vision, which is a description of what the company aspires to be in the long term. The vision should be ambitious but realistic, and it should inspire and motivate employees to work towards achieving it.

Once the mission and vision have been defined, the company must carry out a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to identify its internal strengths and weaknesses and external opportunities and threats. This analysis helps the company understand its business environment and identify areas where it needs to improve and opportunities it can explore.

Based on the mission, vision and SWOT analysis, the company must then define its strategic objectives, which are the specific results that the company intends to achieve. Objectives must be SMART (Specific, Measurable, Attainable, Relevant, Time-bound), that is, specific, measurable, achievable, relevant and with a defined deadline. The company must also define strategies to achieve the objectives, which are the action plans that the company will implement.

Finally, the company must implement strategies and monitor progress toward objectives. This involves defining performance indicators, conducting periodic reviews of progress, and making adjustments to strategies as necessary. Strategic planning is an ongoing process that must be reviewed and updated regularly to ensure the company is always moving in the right direction.

In short, strategic planning is a powerful tool that helps companies set their direction, make informed decisions and prepare for the future. It is a process that requires time and effort, but can bring significant benefits to the company, such as greater efficiency, better performance and greater competitiveness.

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