corporate (noun, cor-po-rate, \ ˈkɔːrpərət \) strategic (adjective, stra-te-gic, \ strəˈtiːdʒɪk \) planning (noun, plan-ning, \ ˈplænɪŋ \)
Definition: is a consistent process performed by a company and aimed at determining and setting objectives that it plans to achieve in the near future. This process includes: a) the management’s principal assumptions regarding possible changes in the economic and competitive environments, b) determining goals that have to be reached within a selected timeframe, c) devising primary and backup strategies to achieve the chosen objectives, d) SWOT analysis, and e) specifying, implementing and controlling the tactical plans used to reach short-term objectives.
In a Sentence:
- Every three years, the board of directors at Hydr-O gathers to perform corporate strategic planning. They mostly discuss short-term goals that will help the company implement its development strategy.
- Since consumer behavior is mostly unpredictable, it makes sense to think about alternative strategies when your enterprise is undergoing corporate strategic planning.
Synonyms and related words: corporate planning, manpower planning, strategic planning, business plan
