What level of management should formulate the strategic plan?

The strategic plan should be formulated by top-level management, which includes executives such as the CEO, CFO, and other senior leaders. This level of management is responsible for setting the overall direction and vision of the organization, making high-stakes decisions that align with long-term goals. Their insights and understanding of market trends, competition, and organizational capabilities are crucial for developing an effective strategic plan. Additionally, they ensure that the plan aligns with the company’s mission and values.