Planning is the first function of management that is the process of defining what an organization wants to achieve and the way it wants to achieve it. Without planning, other management functions such as organizing and controlling could not be carried out. Strategic planning is a process where a company must find the necessary strategy or solution to meet the demands of an ever-changing environment. The role of strategic management is to determine the ways and approaches that the company will use to achieve its vision, mission and goals. Strategic planning is an essential process that helps a company achieve its intended goals and ensure further development and progress. This paper explains the concepts of strategy, planning, and strategic management. Then the process of strategic planning is explained, which consists of five phases or stages: environmental analysis, setting organizational direction (setting vision, mission, goals), strategy formulation, strategy implementation, and control and evaluation of the strategy. Each phase has its role or significance in the strategic planning process. After that, the strategic plans and what they all contain are described. Finally, certain research are presented that shows the connection between strategic planning and business success.