Strategic planning is important for any kind of business as it is efficient of providing a perfect notion of direction to the companies. In today’s tremendous competitive business era, it is next to impossible for an organization to outline the measurable goals without the implementation of strategic planning in a proper manner. The current climate of strategic planning is satisfactory as the higher management of the company can understand the actual need of it as an important tool as it helps to make significant decisions (Kürschner & Günther, 2012).