Principle purpose of this article is to explain significance of Strategic Planning. Strategic planning is an organization’s procedures of determining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It is a systematic process of envisioning a desired upcoming, and translating this imaginative and prescient vision into broadly defined goals or objectives and also a sequence of steps to obtain them. Strategic planning is building the step-by-step plan to help your company in assembly its goals. These plans are specific and results-driven making sure that goals can be very easily obtained. These plans are necessary for the development for the successful staff and organization.