Strategic planning is the formulation of plans to get from where the business is now
to where it wants to be. The chief executive officer (CEO) is usually at the center of
the strategic planning process, since this person is ultimately responsible for the
direction that a company takes. As we will see in this chapter, the CFO can be a key
participant in the planning process by expanding upon the CEO’s general strategy,
as well as by noting the financial constraints that will keep certain strategies from
being viable, and by pointing out the risks associated with different strategies.