Definition of Strategic Planning

It is designated with the concept of strategic planning to elaboration, development and implementation of various operational plans that a company or organization will start up with the objective of specifying the purposes and goals that have been proposed. Strategic planning can be structured to achieve the aforementioned effects or objectives in the short, medium or long term, this clearly depending on the magnitude and the amplitude held by the company or organization in question.

Since the strategic plans will have an established and available budget, it will be essential for the ones resources are well applied and profitable, that there is previously a correct and precise determination of the objectives that they propose to fulfill. Because, unfortunately, as is easy to suppose and infer, in the event that the planning has not been correct it may happen that the money is not enough to carry out the objectives and goals proposals.

In addition to the issue of the budget, it will be essential that the company carefully and accurately trace the mission that will govern it, because this will represent the operational functions that it will execute in the market in question and will be the one that will supply its consumers.

The origin or emergence of strategic planning as an integral part of the management system, emerged at the end of the decade of the sixties, early seventies, as a result of changes in the strategic capabilities of companies that began to to experience.
Then, the management of a company or organization began to demand the planning of those tasks that were needed to fulfill and guarantee its success, while it would be the manager who would take care of analyze how and when to execute the aforementioned strategic capabilities of a company.

Later, strategic planning would achieve another fundamental occupation in view of the need that the various companies began to experience with regard to the search for greater competitiveness, because the times between investment of a good and the introduction of this in the market began to narrow more and more, being much shorter the life cycle of each product.

So, as a consequence of these demands, strategic planning began to specialize in what to do, that is, in the strategies that suppose and mean the scope of the proposed objectives, but also taking into account the threats and opportunities offered by each environment and each context.

For this reason, the people who work in the management area of ​​a company must first of all understand and understand the needs of the company in which they work in order to be successful in terms of strategic planning regards.