Corporate Strategic Planning
Systematic process of determining goals to be achieved in the foreseeable future. It consists of:
(1) Management’s fundamental assumptions about the future economic, technological, and competitive environments.
(2) Setting of goals to be achieved within a specified timeframe.
(3) Performance of SWOT analysis.
(4) Selecting main and alternative strategies to achieve the goals.
(5) Formulating, implementing, and monitoring the operational or tactical plans to achieve interim objectives.