Table of ContentsStrategyStrategic Planning and Strategic ManagementStrategic Planning in Nonprofit OrganizationsStrategyStrategy is the direction an organization takes in the long term, enabling it to cope with a changing environment and gain an advantage over existing competition. Strategy allows organizations to configure and manage their core resources and competencies in a way that meets stakeholder expectations, providing organizations with a point of focus 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 its resources and capabilities effectively. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”?Get the original essayStrategic Planning and Strategic ManagementStrategic planning is the process of understanding the direction of the organization while allocating its resources from most efficient way. 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 learning and flexible process that allows organizations to adapt to ever-changing environments. In other words, strategic planning is a key factor in an organization's performance because it improves adaptation to 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 affects 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 requires simultaneously 1) acuity of perception and intensity of awareness and attention (strategic sensitivity); 2) ability of the best teams to quickly make bold decisions (leadership unity); and 3) internal capacity to reconfigure business systems and quickly readapt resources (resource fluidity). In this way, a deliberate strategy can converge into a more flexible state, leaving room for 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 cerebral control”. While strategic planning is the means to an end, strategic management involves formulating the main objectives and initiatives while considering one's resources and internal and external environment (Nag et al. , 2007). Strategic management includes three main phases: 1) strategic position analysis; 2) strategy formulation; and 3) execution of the strategy. Each phase can only start 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 NPOs has the same essence as in other types of organizations, such as businesses or governments. It aims to define what needs to be accomplished and ;.