Strategic planning is a disciplined effort to make fundamental decisions and take actions that shape and guide what an organization is, what it does, and why it does it. (For information on ICPA's strategic initiatives, see “Message from the President,” page 42).

In addition, a strategic plan represents a shared vision of what will be, provides a framework that will be consistent over a specific period of time, identifies an overall direction but not the means of achieving it, and identifies the direction for short-term actions.