Strategic planning is an organization's process of defining its strategy. The key components of strategic planning include an understanding of an entity's vision, mission, and values and maintenance of specific tasks while taking them into account in order to achieve the objectives. Proper management of organizations' values, resources, views and aims based on the analysis of the situation is the guarantee of organizations success in long-term period.

• SWOT analysis (analysis of the Strengths, Weaknesses, Opportunities and Threats)

• PEST analysis (Political, Economic, Social and Technological analysis)

• STEER analysis (Socio-Cultural, Technological, Economic, Ecology and Regulatory factors’ analysis)