Discussing the Roadmap Aspect of a Strategic Plan
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What things should be taken into consideration in the creation of a roadmap for a strategic plan? What are some examples of external and internal change agents? What role do change agents play in the execution of a roadmap for a strategic plan?
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Solution Summary
In order to achieve a defined set of goals and objectives, an organization needs to have a successful strategic planning process. This solution discusses parts of this roadmap: strategic objectives, strategy, short-term goals/initiatives/priorities, action items and scorecard. Along with this, internal and external change agents are defined and listed. This solution is 800 words with online references.
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What things should be taken into consideration in the creation of a roadmap for a strategic plan?
In order to achieve a defined set of goals and objective, an organization needs to have successful strategic planning process. Strategic planning involves all aspects of a business such as operations, marketing, and finance. The following are the elements must be considered:
- Assessment of the situation: Evaluate the company's financial and operational condition, its weaknesses and strengths or competencies, management team, customers, suppliers, industry condition, and competitors. There has to be a strong understanding of the problems and limitations of the company aside from learning about its strengths and resources. The elements that are needed to review the company's strategic position include the use of a SWOT (strengths, weaknesses, opportunities, and threats). Other elements that need to be checked are the company's mission statement and its values and/or guiding principles.
- Identification of the desired goal: Once the company's financial and competitive position are assessed, it is time to identify the goal that is desired. An example of this is to regain financial stability and this holds true to companies which are in trouble. In defining the future of the business, two things need to be considered: sustainable competitive advantage and the vision statement of the company.
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