Strategic planning is generally conducted at what type of intervals?

Strategic planning is primarily conducted on an annual basis because it allows organizations to set long-term goals and objectives while considering the external environment and internal capabilities. During annual planning, companies assess their progress towards their strategic objectives, examine market conditions, and make informed decisions about resource allocation and future initiatives. This timeframe helps ensure that the strategic plan remains relevant and responsive to changes in the business landscape.

Annual planning also aligns well with the business cycle, giving organizations a comprehensive view of past performance while planning for the upcoming year. It provides sufficient time for gathering data, engaging stakeholders, and developing a thorough understanding of the challenges and opportunities that may impact the organization. While some organizations may conduct reviews or updates on a more frequent basis, the foundational strategic planning process is best positioned for an annual cycle to facilitate focused and effective decision-making.