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Strategic planning is the method of setting up a company's strategic plan, or direction, and then making strategic decisions about allocating resources to pursue that plan. For most companies it isn't uncommon for a business to have a long term strategic plan, one covering a number of years or even decades in which to build a business, in addition to a short term strategy covering the immediate future. While a short term plan may be more appropriate for quickly growing companies, many large and established companies continue to operate with long-term strategic plans that have become part of their identity. Click Here - http://earthship.tv The Definition of Strategic Planning Processes and Their Goals While some small business owners do not feel that they have time to devote to strategic planning, this is often not the case. Many large corporations operate like giant businesses, operating as much as a hundred or even a thousand employees. In many cases, small business owners are only required to keep their own books, submit information to shareholders, and make a quarterly submission. Small business owners cannot afford to ignore this important role, since it sets their company apart from others. The benefits of strategic planning go far beyond individual goals and abilities, however. The strategic plan helps to define expectations about the company's future performance, as well as providing guidance about how to achieve those goals. Strategic planning helps managers to set relevant goals and objectives, as well as assess the resources required to achieve them. It also provides information about methods of achieving the goals and about measuring progress towards those goals and objectives. By sharing information about current and future success, as well as specific future objectives, strategic plans provide a vision of the company and a clear way to measure progress toward those goals.