Exploring the Evolving Landscape of Strategic Planning Approaches: A Comprehensive Literature Review

Abstract ―​

This comprehensive literature review offers a panoramic exploration of strategic planning within diverse organizational landscapes. Drawing from an extensive array of scholarly sources, the review synthesizes theoretical perspectives, empirical studies, and practical applications to illuminate the multifaceted nature of strategic planning. It sheds light on the evolving paradigms and frameworks that underpin strategic decision-making, highlighting the complex interplay between environmental dynamics, organizational capabilities, and strategic foresight. Strategic planning is critical in the management of an organization due to the essential role it plays in leading the organization into the identification of strategic plan to be used by the organization through focusing the issues within the organization, evaluating their effects while considering the organizational operations and developing alternative measures and tactics to ensure that the organization earns competitive advantage as discussed in the paper. The dependence of the strategic planning and the performance of an organization especially in education institution is also notable with all the goals in the strategic planning, leading to influence the performance of the organization. The paper uses elements of the strategic plan including the mission and the vision, the core values, the strengths, the weaknesses, the opportunities, and the threats as well as the strategies, with an inclusion of the objectives and the operation tactics to review the strategic planning and the organizational performance. The study finds strategic planning significantly depending on the analyzed elements of the strategic planning in achieving the outcome. The elements also play a critical role in aligning the organization towards working on a specific organizational strategic planning process to ensure all stakeholders are focused on a common goal that determines the performance of the firm. By delving into the strategic planning terrain, this review aims to inform and inspire strategic leaders, scholars, and practitioners, fostering a deeper appreciation for the nuances and strategic imperatives inherent in contemporary organizational management.