IndexStrategyStrategic planning and strategic managementStrategic planning in non-profit organizationsStrategyStrategy is the direction an organization takes in the long term, enabling it to cope with and benefit from a changing environment advantage over existing competition. Strategy allows organizations to configure and manage their core resources and competencies to meet stakeholder expectations, providing organizations with a focal point and narrowing their scope of activity. A successful strategy is the consequence of effective implementation and therefore one must be able to simultaneously set long-term, simple and agreed objectives; truly understand the competitive work environment; and use their resources and capabilities effectively. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original EssayStrategic Planning and Strategic ManagementStrategic planning is the process of understanding the direction of the organization by allocating its resources in the most efficient manner. Planning helps members of an organization focus on their priorities while improving their processes. However, strategic planning is neither static nor predictive. Rather, strategic planning is a flexible and learning process that allows organizations to adapt to constantly changing environments. In other words, strategic planning is a key driver of an organization's performance as it improves adaptation to both external and internal changes. Santos (2011) states that “a company's performance is the result of the complex dynamic interaction between its environment (E), its organization (O) and its strategy (S)”. Each element of the equation influences the other two in a dynamic, non-linear, asymmetric and non-malleable way. The EOS model: Performance = Environment * Organization * Strategy. Therefore, flexible strategic planning is also what allows organizations to thrive. Being strategically agile simultaneously requires 1) acuity of perception and intensity of awareness and attention (strategic sensitivity); 2) ability of top teams to quickly make courageous decisions (leadership unity); and 3) internal ability to reconfigure business systems and quickly readjust resources (resource fluidity). In this way, a deliberate strategy can converge towards a more flexible state, giving space to an emergent strategy. According to Mintzberg (1994) “strategies can develop inadvertently”, while “all must combine a certain degree of flexible learning with a certain degree of brain control”. While strategic planning is the means to an end, strategic management consists of formulating major objectives and initiatives considering one's resources and internal and external environment (Nag et al., 2007). Strategic management consists of three main phases: 1) analysis of the strategic position; 2) strategy formulation; and 3) implementation of the strategy. Each phase can only begin when the previous one is completed. This three-step approach provides an overview of a formal strategic management process that provides guidance for effective implementation. Strategic Planning in Nonprofit Organizations Strategic planning in nonprofit organizations has the same essence as other types of organizations, such as businesses or governments. It aims to define what to accomplish and how to do it, in order to respond to a dynamic environment. It also allows nonprofits to focus on both short-term and short-term goals;.