What is one characteristic of effective strategic planning?

Effective strategic planning is characterized by its involvement of resource allocation to achieve objectives. This means that organizations must assess their available resources—such as time, money, personnel, and technology—and allocate them in a way that aligns with their strategic goals. This process ensures that the organization can pursue its objectives effectively and maintain a competitive advantage in the market.

By evaluating both internal and external environments during the planning process, organizations can prioritize initiatives and allocate resources strategically. This dynamic nature of effective strategic planning allows for adaptability based on changing market conditions and organizational needs, enabling the organization to respond proactively to opportunities and challenges. In contrast, ignoring market trends, focusing solely on internal factors, or treating planning as a static process would limit the organization's effectiveness and hinder its long-term success.