STRATEGIC PLANS Meaning and
Definition
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Strategic plans are comprehensive and overarching plans developed by organizations to guide their actions and decisions in order to achieve their long-term goals and objectives. These plans are typically created by top-level management and address key issues such as resource allocation, organizational priorities, and the overall direction the organization intends to take.
A strategic plan outlines the organization's mission, vision, and values, and provides a roadmap for success. It involves analyzing the internal and external environment, identifying opportunities and challenges, setting clear goals, and determining the strategies and tactics needed to achieve those goals.
A strategic plan delves into multiple aspects of an organization, including finance, operations, marketing, human resources, and technology. It may include specific initiatives, timelines, and performance metrics to measure progress and success. Additionally, it considers potential risks and contingencies to ensure preparedness for unforeseen circumstances.
By defining the organization's long-term priorities and providing a strategic framework, these plans help align the efforts of different departments and individuals towards common objectives. Strategic plans also facilitate effective decision-making and resource allocation, as they provide a clear path and eliminate ambiguity.
To remain relevant and effective, strategic plans are often reviewed and updated periodically to adapt to changing circumstances and new opportunities. They are crucial in providing a sense of direction and ensuring that organizations make informed choices and stay focused on their long-term aspirations.
Common Misspellings for STRATEGIC PLANS
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Etymology of STRATEGIC PLANS
The word "strategic" is derived from the Greek word "strategos", which translates to "general" or "army leader". In ancient Greece, strategos referred to military commanders who developed and executed plans to achieve victory in battles. The term evolved over time and in the 18th century, it started to be used in a broader sense to describe any long-term plan or approach intended to achieve specific goals.
The word "plans" originated from the Latin word "plannus", which meant "flat" or "level". This word then developed into "planum", which referred to a level surface or a drawing representing such a surface. Eventually, in the late 17th century, "plan" came to signify a detailed scheme or layout of actions to be taken in order to accomplish something.
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