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Let me tackle this question from a different angle
I provide a service called "operational alignment with overall corporate strategic direction" in which the different departments/units/divisions/functions need to align themselves with the overall business strategy.
So, in relation to your question, I workk with department X (which may represent your department) and work on a logical business model structure that includes the following
So, here you are with documented/approved department-level plans for the short, mediurn and long term
Hope this answers your question .... from a practical and proven way that I have been doing to my customers