strategic planning

Definition

The process of determining a company's long-term goals and then identifying the best approach for achieving those goals.

Use strategic planning in a sentence

My boss and I sat down on our company's retreat to go over our goals for the year and engage in some strategic planning.

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We had to undergo some strategic planning because it would help us get out of the bad situation we were in at the moment.

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The strategic planning of the marketing department was excellent as their ability to consider the future possibilities not immediately visible was wise.

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Strategic Investment Fund strategy