ELI5: Explain Like I'm 5

Strategic Planning

Strategic planning means setting goals and making plans to reach those goals. It can be like packing your suitcase before you take a trip - you have your destination, so you decide what you need to bring, like clothes, snacks and things to do, and you make sure you have it all ready before you go. Similarly, strategic planning helps you get from where you are now to where you want to be in the future. You decide what your goals are, figure out what you need to do to reach them, and make sure you have the resources and money to do it.