Strategic planning is an organization's process of defining its strategy, or direction, and making decisions in allocating its resources to pursue this strategy, including its capital and people. In many organizations this is viewed as a process for determining where an organization is going over the next year or, more typically, three to five years. The organization needs to know where it stands, then determine where it wants to go and how it will get there.
I am pleased to bring an update to the Board on the status of our strategic directions initiative.