Strategic planning is essential for setting long-term aspirational targets that guide a company's growth and profitability. These targets should be well thought out, encompassing both financial and non-financial metrics, and remain flexible to adapt to changing conditions. Aligning these strategic goals with budgeting and forecasting ensures that every short-term plan and financial decision is made with the bigger picture in mind, maintaining a coherent direction towards the company's objectives. 

In this video, Guilherme Saraiva, ex Senior Director, FP&A at Discovery Inc, Washington D.C. FP&A Board Ambassador, discusses the importance of linking strategic planning to business planning. 

He highlights how FP&A can bridge the gap between long-term goals and short-term execution by aligning strategic targets with budgets and forecasts, avoiding the common "hockey stick" problem, and ensuring consistent communication of strategic plans across the organisation.