Crafting and Executing Strategy
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Assume that you are a business owner or business professional, in a company and industry of your choice, responsible for creating and executing the company's strategic plan.
1. Develop an argument supporting the importance of a strategic plan for the success of the defined business.
2. Create a mission statement for the company explaining how the mission will be essential to the company's success.
3. Create a vision statement for the company explaining how the vision statement supports the company's mission.
4. Establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business.
5. Justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.
6. Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
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Solution Summary
Discusses strategic plan, mission and vision statement.
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For the purpose of this assignment, I am assuming myself as the owner of an organic food products company in United States that manufacturers, imports and distributes organic food products and beverages through retailers across the country. The company is capitalizing on the strong growth in the organic food segment and planning to expand in an aggressive manner throughout the nation. The company offers unique, world class and high quality organic food and beverages which appeal to health conscious, environmental friendly individuals throughout the country.
1. Develop an argument supporting the importance of a strategic plan for the success of the defined business.
Strategic plan is extremely important for my business or any other business because it provides a sense of direction and framework to all the plans, actions and activities of the organization. Strategic plan helps an organization such as mine to move ahead in the right direction towards the achievement of goals, vision and mission of the organization. Strategic plan provides a framework and guideline for all important decision making in the organization. It helps in leveraging on the strengths of the organization to capitalize on opportunities available in the external market and help in overcoming threats and weaknesses via suitable course of action. Strategic plan helps an organization to achieve sustainable competitive advantage by capitalizing on the strengths, available resources and capabilities of the organization.
For my business, strategic plan is extremely important to capitalize on the growth in the organic food products segment by providing me with clear direction and guideline to exploit my strengths in terms of world class product range, ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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