°Strategic plans refer to establishing the organization’s long-term vision, mission, and value statement.

Operating plans specify the allocation of resources.

Time frame plans are classified into a period of time.

Strategic planning is the process that the organization uses to study many different aspects of its competitive environment.

What means SWOT analysis?

Organization uses SWOT analysis to get a general understanding of what they are good or bad in and what external factors might present chances for success or difficulty.

Weakness is what the organization is not good at and is necessarily organization faulted.