Which of the following best describes a primary purpose of strategic planning?

The primary purpose of strategic planning is to establish long-term objectives for the organization. Strategic planning involves defining a vision for the future, setting specific goals, and outlining the strategies to achieve those goals. This process helps organizations to identify opportunities and challenges in the market, align resources effectively, and formulate a cohesive direction that guides decision-making over extended periods.

By focusing on long-term objectives, organizations can ensure that their efforts are not merely reactionary but are instead geared towards sustainable growth and success. This contrasts with other functions such as determining daily operations, which are more tactical and focused on immediate needs, or planning for short-term financial outcomes, which does not encompass the broader strategic outlook essential for long-term viability. While managing employee performance is crucial for overall effectiveness, it typically falls under operational management rather than the strategic planning process itself.