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These outcomes will invariably differ from the strategic goals.

How close they are to the strategic goals and vision will determine the success or failure of the strategic plan.

A "forecast" is typically a combination of actual performance year-to-date plus expected performance for the remainder of the year, so is generally compared against plan or budget and prior performance.

The financial plans accompanying a strategic plan may include 3–5 years of projected performance.

Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management.

It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.

The end result is the organization's strategy, including a diagnosis of the environment and competitive situation, a guiding policy on what the organization intends to accomplish, and key initiatives or action plans for achieving the guiding policy.A strategic plan may cover multiple years and be updated periodically.The organization may use a variety of methods of measuring and monitoring progress towards the strategic objectives and measures established, such as a balanced scorecard or strategy map.Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.It may also extend to control mechanisms for guiding the implementation of the strategy.

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Strategy has many definitions, but generally involves setting strategic goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.

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