Strategic planning was originally conceptualized to help companies compete against others. It often operates from the belief that equates success to size: bigger and more is better. This equation goes unquestioned in typical strategic planning exercises. It's possible that the question could emerge and open new possibilities and perspectives if the process was simply called "planning."
It's optimal to have every function and team in an organization do planning, with a multidisciplinary and multilevel project team facilitating alignments and collaborations.