The strategic planning process is the formulation of the company's major objectives and execution plans. This process is of particular interest to GE. Strategy formulation is the process of choosing the best methods for a company based on customer needs; competitive position and internal capacity are the three factors that play the main role in strategic planning. Every manager must have at least a simple notion of strategic planning to formulate their strategic plans. Strategic planning is a broad and complex subject. Strategic management background is an essential foundation of any organization. Companies plan their varied and multi-level activities. A company's strategic planning is a set of elements that describe how the company uses its resources regarding the internal and external environment to achieve its objectives. Resources contain financial, human resources, facilities and technology. Resources are limited and that is why they are a priority at GE to support the company's objectives. The positioning and use of resources encompasses all elements of the company and develops into strategic decisions of the company. The goal of GE's strategic planning is to increase its economies and at the same time apply its benefits to the company's customers. There are three basic steps to achieving strategic planning within GE: The formulation of a major corporate strategy. This is the basis of efforts to build a serious competitive advantage. The adaptation of the main corporate strategy to all markets where the company's products are presented. The globalization of the main corporate strategy. This means that the company must integrate the strategy in all places where the company operates. To implement all these strategic factors… halfway through the document… vital changes. Two, three or five years pass before the strategy is achieved. Generally, GE has long-term goals for factors such as return on investment, earnings per share, or size. Goals elaborate on the mission statement and constitute a specific set of political, programmatic, or management objectives for the programs and operations covered by the strategic plan. Tactical plans have shorter timeframes and narrower scope than strategic plans. Tactical planning provides the specific ideas for implementing the strategic plan. Operational plans support tactical plans and are the tools for executing daily, weekly, and monthly tasks. They include policies, procedures, methods and rules. GE has substantially grown in size and advantages since the 1980s. GE centralized financial management and strategic planning control and practiced strategic planning management.