Nobody downloaded yet

Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Organizations Mission - Assignment Example

Comments (0) Cite this document
Summary
It starts with the definition of a company’s mission, which is the sole purpose of the organization. This tool guides the day-to-day…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.1% of users find it useful
Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Organizations Mission
Read TextPreview

Extract of sample
"Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Organizations Mission"

Download file to see previous pages Strategic planning begins with the definition of the company’s mission, which is an important aspect to the organization in distilling and synthesizing the organization’s strategic plan. The mission guides the employees and management towards focusing their efforts in the concrete objectives and measurable goals in terms of timelines and quantities. This is important because it enables employees and management in evaluating pace development and progress. However, for this to be achieved, the employees in all the departments should be included in every aspect of responsibility and how their activities fit into the organizations strategic plan.
This is the analysis of the macro environmental factors in an external environment of the organization. The trend analysis consists of analyzing the political, economical, technological, social, and demographic trends. However, Allison and Kaye (2011) lamented that when developing a strategic plan, it is important to identify the relevant factors that are influenced by these trends. Trends cannot be controlled, therefore, it is important to develop a strategic plan in reference to the current and future changes and how to cope with these changes.
The political factors include the degree to which a government intervenes in an economy in areas such as trade restrictions, tariffs, tax policies, environmental law, and political stability. According to Hill and Jones (2009), the government also influences goods and services that it wants provided and those that it prohibits and consequently its strategic plan. Furthermore, infrastructure, education, and health of a nation are greatly influenced by governments.
Economic factors such as interest rates, inflations rates, exchange rates, and economic growth have great impacts on an organization’s decision-making and operation. For example, Hill and Jones (2009) noted that the interest rates affect the organization’s cost ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Assignment”, n.d.)
Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Assignment. Retrieved from https://studentshare.org/education/1629634-strategic-planning-creating-a-formal-strategic-plan-is-vital-to-an-organizations-mission
(Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Assignment)
Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Assignment. https://studentshare.org/education/1629634-strategic-planning-creating-a-formal-strategic-plan-is-vital-to-an-organizations-mission.
“Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Assignment”, n.d. https://studentshare.org/education/1629634-strategic-planning-creating-a-formal-strategic-plan-is-vital-to-an-organizations-mission.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Strategic Planning
...). Compared to profit organizations, nonprofit companies are basically designed because they would not exist if it was not for the essential need. The service being offered from the nonprofit organizations are usually created out of the fundamental ethics of the creator or or founder. As the profit companies are usually made as a money generating system, the nonprofit organizations are made for service in hopes of creating enough money to continue the operation. “The nonprofit organization also hopes for as much agreement and compliance with all of its associations so they will completely understand the companies mission”...
4 Pages(1000 words)Essay
Strategic planning within organizations
... the strategic goals to easily be communicated among others (Webb, 2004). The managerial role is not only essential because of the communication which is used with the strategic goals. The managers play a primary role in the ability for the planning to be matched with employee needs. This begins with the understanding of the vision and the mission of the company as well as the expectations with the strategic plans. This furthers with defining points that are associated with the motivational impact which is created. If managers are unable to motivate the organization, then the dynamics build toward resisting the changes with the strategic planning, as opposed to creating a stronger relationship with the communication which is used... of the...
12 Pages(3000 words)Dissertation
Strategic planning
...? Strategic Planning Strategic Planning What creates the need for scenario development? Strategic planning is an instrument incorporated by management to ensure that all of its components are working towards realizing an organization’s goals. It has long been used to transform, and revitalise organizations in many areas of the world. Businesses, whether profit or non-profit, are incorporating these strategies in order to better their situation in the global market. The political and economic standing in many countries, today, has caused the change in many organization’s...
3 Pages(750 words)Assignment
Strategic planning
...?Outline For final Research Paper I. Introduction II. Video case study a. Brief history of Company b. Components of environment c. RBV Analysis of organization III. Identify functional Control systems IV. Identify dysfunctional control systems V. SWOT Analysis of organization a. Strengths b. Weaknesses c. Opportunities d. Threats VI. Interpret criteria for developing and evaluating criteria for control systems a. Criteria for Developing Controls b. Criteria for Evaluating Controls VII. Analyze and illustrate the essentials of quality management a. Benchmarking b. Knowledge management c. Utilization of general quality management skills VIII. Conclusion a. General Statements about Wal-Mart. b....
8 Pages(2000 words)Research Paper
Creating an HR Strategic Plan
...to meet the goals of the organization. 6. HR strategy involves arranging the HR goals to the organizational strategy mainly in terms of recruitment, retention and termination. 7. After this step, implementation has to be done according to the plans an the various forms of measurements help in tracking the progress. 8. A lot of effort is required to prepare a strategic plan and it takes around five years to prepare it so it must be reviewed and updated every year. (Lewis, 2003). HR strategic plan and strategic goals The HR strategic plan enables the organization to...
3 Pages(750 words)Essay
Strategic Planning
.... To implement this project well, Hope University has formed staffs in charge for this responsibility; they are Mellisa Commissiong – Founder, Jovita Collins – Co-Founder, Miguel De Los Angeles – Chief Financial Officer and Jeff Francois – Chief Financial Officer Assistant. The team has extensive criminal justice background and will be the right people to assist these young men at Sing Sing in creating better lives. 1.Implementation In order to apply maximum educational services, as also our business mission statement is to prevent recidivism of the inmates in New York State, Hope University has prepared strategic planning to achieve the goals. As it has been mentioned...
3 Pages(750 words)Assignment
Mission, Vision, Social Responsibility, Strategic Planning
...? Whole Foods and Trader Joe's 30 March Part I: Vision and Mission ments Vision and mission ments communicate the strategic direction of the organization to internal and external stakeholders. Vision and mission are not the same, although some organizations embed both in their mission statements. Organizational vision is what the organization wants to become, while the mission is what the organization is and where it is at present (Hitt, Ireland, & Hoskisson, 2009, p. 19). This essay compares and contrasts, as well as analyzes and improves, the vision and...
6 Pages(1500 words)Essay
Formal Strategic Planning
...The Impact of Formal Strategic Planning on the Business Performance of Hospitality SME's Strategic planning is widely publicized as an effective management tool to improve performance of businesses. A recent study shows that majority of large organization are adopting the system and benefiting from it's long-term planning approach. The purpose of this paper is to analyze the impact of formal strategic planning to smaller firm particularly those Small and Medium-sized Enterprises in the Hospitality industry. Study the business performances of Hospitality SME's and...
8 Pages(2000 words)Essay
Strategic Planning
...in creating a sustainable coastal management plan. It will work towards achieving a well managed coastal area with planned development and sustainability of the eco-system. In the next 10 years, the agency would like to see a rehabilitated coastal region where soil erosion is greatly controlled. This will involve coming up with strategic plan that will ensure that the situation at the coast is mitigated. The agency would also want to see a management board put in place in order to manage different resources at the coast to ensure the regeneration of the natural resources and maintenance of biodiversity. In the future, a agency would like to see the...
10 Pages(2500 words)Essay
Mission, Vision, Social Responsibility, Strategic Planning
...Mission, Vision, Social Responsibility, Strategic Planning Affiliation: Part I-Southwest Airlines and JetBlue Airways Prepare a well–reasoned analysis of the similarities and differences of the two organizations based on the mission statement. The mission statement of Southwest Airlines is “…is dedication to the highest quality of customer service that is delivered with a sense of warmth, friendliness, individual pride and also company spirit (Lauer, 2010).” This is different from the mission statement of JetBlue Airlines which is “…to provide superior service in every aspect of customer’s air travel experience (Wynbrandt, 2010).” In both mission statements, the sole focus is on the customers and their satisfaction by the services... that...
2 Pages(500 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Assignment on topic Strategic Planning: Creating a Formal Strategic Plan Is Vital to an Organizations Mission for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us