Strategic planning refers to the process of clearly defining the future plan where the company is headed along with specific list of actions, resources allocation, and budgeting that the company need to do to get there.
Strategic planning will most likely be good for every company, but it does not necessarily needed for the company to profit. Often times, the scope of operation was too small for strategic planning to be necessary. (For example, many small restaurants or other forms of small private owned businesses can generate a profit without having to make strategic planning). Laziness is not a valid reason why some of them chose not to do it.
