Strategic planning is:

Strategic planning is a high-level organizational process that defines the overall direction and makes decisions on allocating resources to pursue the strategy.

• Long term planning: This is the correct answer. Strategic planning typically covers a period of 3-5 years or even longer, focusing on the organization's vision, mission, and overarching goals. It deals with the big picture and future positioning of the entity.
• Medium term planning: This usually refers to tactical planning, which translates strategic plans into more specific, actionable steps over a shorter horizon (e.g., 1-3 years).
• Short term planning: This is operational planning, focusing on day-to-day activities and immediate objectives, typically for a period of less than a year.
• Annual planning: While annual plans exist, they are generally operational or tactical in nature, detailing specific activities for the upcoming year, rather than the broad, long-term scope of strategic planning.