Strategic plans define the framework of the organization’s vision and how the
Organization intends to make its vision a reality.
It is the determination of the long-term objectives of an enterprise, the action plan to be adopted and the resources to be mobilized to achieve these goals.
Since it is planning the direction of the company’s progress, it is done by the top Management of an organization.
It essentially focuses on planning for the coming years to take the organization from where it stands today to where it intends to be.
The strategic plan must be forward looking, effective and flexible, with a focus on accommodating future growth.
These plans provide the framework and direction for lower level planning.