Importance of Strategic Planning Strategic planning focuses on stabilizing the current environment and also supports the organization's business plans and objectives. Strategic planning helps implement new projects, new technologies, data center consolidation, data warehouses, exponential data growth, cost of ownership, and available resources in an organization to evaluate future requirements. Strategic planning analyzes the business plan, potential blockages or other problems in the architecture, current processes and their implementation in new initiatives and processes. Strategic planning helps to formulate ideas about the key factors that influence the present and future development of the organization and the opportunities offered by the environment and competence of the organization.Strategic PlanningThe key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining the strategic balance between the organization's objectives and resources in a changing market environment. The purpose of strategic planning is to determine the most promising fields of activity that guarantee growth and prosperity. Strategic planning is a component of the broader concept of “strategic management”. All four management functions (planning, organizing, leading and controlling), when talking about strategic management, include strategic orientation. When considering strategic planning from the highest possible level within a company, the planning function is the area that stands out as the most important area involving a great deal of development and focus. Why strategic planning? Interest in strategic planning is caused by several reasons:1. Making the...... middle of paper ......completes an analytical evaluation of a company. A firm builds its competitive structure by repeatedly investing scarce resources in its value-added activities. This way organizations will be able to create products and services that exceed the buyer's desires and continue to grow the business and adhere to its strategic plan once implemented. References Rigby, D. (December 2007). Select management tools wisely. Harvard business review, 85(12), 20-22, 3. Retrieved September 18, 2008 from the EBSCOhost.Sandenaw RI database, (November 2007). Seven steps to business planning. Credit Union Journal, 73(11), 2-3. Retrieved September 18, 2008, from the EBSCOhost database.Urbany JE, Davis JH (November 2007). Strategic intuition in three circles. Harvard Business Review, 85(11). Retrieved September 18, 2008, from the EBSCOhost database