Strategic planning is a business tool that can help provide a product road map, segmentation strategies, competitive intelligence, market intelligence and a market approach for your organization to follow.

Part art and part science, strategic planning requires a knowledge of business, marketing and in today’s world, technology. Few people have a formal education that includes strategic planning, or any significant real-world experience.

Andy Singer is the president of Singer Executive Development and a professor of business at Lourdes University.

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