This document discusses strategic planning concepts for an organization including vision, mission, business definition, objectives, and goals. It defines each concept and provides examples. The vision is a description of the future environment an organization wants to create. The mission defines the organization's role in society by addressing a specific societal need. Objectives are quantifiable end results to be achieved by a certain time. Goals are intermediate results that contribute to achieving objectives. The business definition clarifies what business the organization is in or should be in. Setting objectives and goals helps coordinate decisions, formulate strategies, and assess performance.