What is Strategic Planning ?
‘Strategic Planning’ refers to the planning of organizations to define the goals, objectives and needs of the company in a predetermined duration and allocate the resources and the workforce to help achieve those goals.
There are several options available to the organizations who need to undertake strategic planning. SWOT and situational analysis are some of the most common tools used for strategic planning as they provide all the necessary data for the same.
There are several purpose built software developed nowadays to help undertake the task of strategic planning. A good HRMS would be helpful in such cases since it would provide all the relevant data such as comparative analysis, benchmarking etc.