Strategic Planning (sometimes called Strategic Thinking) is the higher-level component of putting together a 3-5 year plan called the Business Plan. It includes visioning, values, external competition assessment, internal appraisal, etc.
Business Planning is the mid-lower level component of a Strategic Plan. It includes a 12-18 month mission statement, critical goal categories, marketing plans, financial plans, etc. in attaining the long-term vision developed through Strategic Planning.