Editing Strategic planning (section)

===Analytical tools===
A variety of analytical tools and techniques are used in strategic planning.<ref name="Mintzberg and Quinn 1996"/> These were developed by companies and management consulting firms to help provide a framework for strategic planning. Such tools include:
* [[PEST analysis]], which covers the remote external environment elements such as political, economic, social and technological (PESTLE adds legal/regulatory and ecological/environmental); 
* [[Scenario planning]], which was originally used in the military and recently used by large corporations to analyze future scenarios.
* [[Porter five forces analysis]], which addresses industry attractiveness and rivalry through the bargaining power of buyers and suppliers and the threat of substitute products and new market entrants;
* [[SWOT analysis]], which addresses internal strengths and weaknesses relative to the external opportunities and threats; 
* [[Growth-share matrix]], which involves portfolio decisions about which businesses to retain or divest; and
* [[Balanced scorecard]]s and [[strategy maps]], which creates a systematic framework for measuring and controlling strategy.
*[[Responsive evaluation]], which uses a constructivist evaluation approach to identify the outcomes of objectives, which then supports future strategic planning exercises.
*[[VRIO|VRIO Framework]], which determines the competitive advantage of a product or a service through evaluating four elements such as value, rarity, imitability and organization.<ref>{{Cite journal |last1=Ferreira |first1=João J. M. |last2=Fernandes |first2=Cristina I. |last3=Ferreira |first3=Fernando A. F. |date=2022-02-01 |title=What makes organizations unique? Looking inside the box |url=https://www.sciencedirect.com/science/article/pii/S014829632100744X |journal=Journal of Business Research |language=en |volume=139 |pages=664–674 |doi=10.1016/j.jbusres.2021.10.017 |s2cid=239371863 |issn=0148-2963|hdl=10071/30538 |hdl-access=free }}</ref>