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    Strategic planning: Why study strategy; importance of planning; mission, vision

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    1. Since it will be years, if ever, that most of you will be in a position to establish strategy, why do you want to study it?

    2. How do you explain the success of firms which do not use a formal strategic planning process?

    3. Using this information, prepare a brief vision statement and a brief mission statement which are consistent with the working definitions (we use Strategic Management. Formulation, Implementation, and Control, Twelfth Edition, and we are on chapter 2).

    Mission Statement: To provide access to higher education opportunities that enable students to develop knowledge and skills necessary to achieve their professional goals, improve the productivity of their organizations and provide leadership and service to their communities.


    -To facilitate cognitive and affective student learning - knowledge, skills, and values - and to promote use of that knowledge in the student's work place.
    -To develop competence in communication, critical thinking, collaboration, and information utilization, together with a commitment to lifelong learning for enhancement of students' opportunities for career success.
    -To provide instruction that bridges the gap between theory and practice through faculty members who bring to their classroom not only advanced academic preparation, but also the skills that come from the current practice of their professions.
    -To provide General Education and foundational instruction and services that prepare students to engage in a variety of university curricula.
    -To use technology to create effective modes and means of instruction that expand access to learning resources and that enhance collaboration and communication for improved student learning.
    -To assess student learning and use assessment data to improve the teaching/learning system, curriculum, instruction, learning resources, counseling and student services.
    -To be organized as a for-profit institution in order to foster a spirit of innovation that focuses on providing academic quality, service, excellence, and convenience to the working student.
    -To generate the financial resources necessary to support the University's mission.

    4. How does strategic planning for non-profits differ from profit-making firms?

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    Solution Preview

    1. It is important to study about how to go about making strategy before actually implementing it. As Corporate we would need strategy as the means of identifying, and then achieving, our wants and needs. The course would empower me to contribute to my organization's strategic planning. It would provide me with the direction which is required for understanding different perspectives of successful strategy making. Without these skills and knowledge I would not have the right background to be able to bring innovation ideas to fruition.
    2. Firms that do not use formal strategic planning process are mostly nonprofit firms. Other firms that have success without ...

    Solution Summary

    This solution discusses studying strategy, the success of firms, a statement of mission and vision, and strategic planning differences between profits and non-profits in 418 words.