This study sought to establish the relationship between managerial skills, financial capability and the level of strategic planning. The study was premised on the increasing focus on strategic planning in Ugandan organizations. There was however, a lack of local empirical studies on the factors driving this trend. Data were obtained from organizations in various sectors that included government institutions, private and family business organizations. The findings confirmed that organizations were involved in significant level of strategic planning. There was a positive and significant relationship with managerial skills. However, there was a very weak relationship with the financial capability. The implication of the findings for management was to give more attention to managerial skills to ensure congruence of operations.