News Release
Every company needs a strategic plan (News)
January 26, 2010
Lucas Roze
Daily Gleaner
In today's business environment it is important for every company, not just Big Business, to incorporate a strategic plan that maps out its direction.
When used properly, strategic planning can facilitate the decision making process, determine the future course of an organization, explain the business to others and help identify opportunities and threats. Without a strategy, chances of achieving your goals are greatly diminished.
How does strategic planning differ from other types of planning? Components of a strategic plan involve articulating a mission, defining values, establishing a vision and determining goals. The combination of these components lead the organization for a determined period and set the future path.
The mission
The mission helps to define the fundamental purpose of your existence, for whom you exist, and the impact of your existence. The mission is based on what the organization intends to do and the timeline in which it intends to achieve its goals.
Values
Values are truly the beliefs that drive your organization's culture and priorities. Values focus on what is most important in the way that an organization is governed on a daily basis. An example of values might be: Fulfilling your obligation to building a better, stronger and more durable company.
Vision
Your vision states clearly what you want your organization to become in the future. The vision can be viewed as a statement of ambition.
Goals
Goals answer the question, "What do you want to accomplish?" Identified by the board and staff, goals are created as broad statements specific to key areas. For each goal, a context is included to provide an evaluation of the current situation and a rational for the goal included in your strategic plan.
Objectives also support the goals and state how the goals will be accomplished relying heavily on accountability, time frames, and resources.
Communicating your strategic plan often includes having a strong Internet marketing strategy which can prove vital for successful global reach. Online presence has evolved from simply having a website to a full fledged borderless marketing tool. As such, time and effort should be dedicated to this resource.
The advantages of a good web presence will create an inviting experience that can showcase your strategy, vision and objectives.
Because your strategy, tactics and objectives change, it is important to mirror these updates online.
It is essential to establish a game plan since it is truly a major part of a successful business model.
This is not to say that a complex strategic plan is necessary, but creating a good working plan will help to keep your company on course to become a solid competitor in the global marketplace.
For more information about strategic planning and how your business can develop this plan, contact Enterprise Fredericton at 444-4686 or visit us online at www.enterprisefredericton.ca to book a free consultation.
Lucas Roze is a communications officer for Enterprise Fredericton. He can be reached at lucas.roze@ent-fredericton.ca.