The five stages of strategic planning are: The initial phase of strategic planning requires the establishment of the project's boundaries, target outcomes, and key participants. The environmental scan phase uses SWOT analysis to evaluate both internal and external organizational factors. Strategy Formulation involves developing actionable plans that enable goal achievement. Implementation requires executing the strategies and allocating resources.
The Evaluation and Control phase tracks business progress while adapting strategies when necessary and assessing results to maintain alignment with business objectives.
