Which of the following best describes strategic planning?

The best description of strategic planning is long-range planning for the entire company. Strategic planning involves setting long-term goals and determining the best strategies to achieve those goals across all areas of the organization. It takes into account the company's overall mission, vision, and objectives, considering external and internal factors that may impact the organization's success.

This type of planning is crucial for ensuring that all departments and teams are aligned with the company's long-term direction and ambitions. By focusing on long-range outcomes, strategic planning helps organizations anticipate future trends, allocate resources effectively, and create a cohesive approach to achieving their main objectives.

In contrast, short-term planning is typically more tactical and does not encompass the comprehensive approach required for strategic planning, while a focus solely on marketing strategies would be too narrow and not representative of how strategic planning applies to the entire organization. Casual planning lacks the level of detail and thoroughness expected in a strategic context, diminishing its effectiveness in guiding a company's long-term direction.