Which term describes the process of defining an organization's strategy and allocating resources toward its achievement?

The term that best describes the process of defining an organization's strategy and allocating resources toward its achievement is strategic planning. This process encompasses the development of a clear vision and mission for the organization, followed by the formulation of specific goals and objectives that align with that vision.

Strategic planning is essential because it provides a structured approach for organizations to identify priorities, allocate resources effectively, and ensure that all parts of the organization are working toward the same goals. It also involves the assessment of the internal and external environments to inform decision-making and resource allocation.

In contrast, the other terms relate to specific aspects of organizational management. For example, strategic analysis focuses on assessing the organization's position in relation to the environment and competitors rather than the planning and resource allocation process itself. Resource management pertains to overseeing the use of resources but does not encompass the broader strategy formulation. Operational planning, on the other hand, deals with the short-term execution of strategies and objectives rather than the overarching strategy and goal-setting involved in strategic planning. This distinction is why strategic planning is the most accurate description of the overall process.