This chapter describes the key phases of the strategic-planning process and ‘strengths, weaknesses, opportunities, threats’ (SWOT) analysis. A generic strategic-planning process includes three key phases of assessing, visioning, and strategizing in order to further the mission and vision of an organization. The vision, mission, and values statements constitute the core identity of a nonprofit organization. In other words, a nonprofit organization justifies its social or community relevance through its vision, mission, and values, and the extent to which they are reflected in governance and program implementation. The chapter discusses the relationship of strategic management and program effectiveness, and the interrelationships between strategic planning and financial sustainability. It introduces various approaches to effective strategic planning geared to the financial sustainability of a nonprofit organization.