A strategic plan is a comprehensive document that outlines an organization's goals, objectives and strategies for achieving them. It provides a roadmap for how the company intends to grow and succeed in its industry over a set period of time (usually 3-5 years). The plan typically covers key areas such as market analysis, financial projections, resource allocation, and performance metrics. A well-crafted strategic plan helps companies make informed decisions, allocate resources effectively, and stay focused on achieving their long-term goals.