Final answer:
Strategic planning is the process by which managers set long-term visions based on resource and capability analysis to achieve objectives. It involves developing self-awareness and preparing for long-term impacts, staying adaptable in a changing environment.
Step-by-step explanation:
The process that helps managers identify long-term plans to achieve their objectives by using available resources and capabilities is essentially strategic planning. Strategic planning involves developing a long-term vision that aligns with the organization's goals and navigates the future course of action. It relies on building an understanding of the company's strengths (what you're good at), interests, and the value it aims to contribute to both the market and the community. This vision may encompass areas such as land use, conservation goals, or career development, depending on the context.
As the University of Florida suggests, this process also involves developing self-awareness to make informed career decisions and set achievable and targeted career goals—strategies that are applicable in both individual career growth and organizational development. Moreover, the process considers external factors such as market forces, environmental limits, and even the event of resource competition as highlighted in the military sector's planning. Through this, organizations aim to overcome the limitation that arises from a lack of a master plan, which without strategic planning, means operating on "autopilot."
Ultimately, strategic planning guides the organization to maximize growth in an effective way, evolving with the changing world, and preparing for long-term programming and impact.