Operationalize Business Strategies-Organizational Strategy Elements

In today’s dynamic business environment, it has become of utmost importance for any organization to have a strategic plan in place. A strategic plan is a powerful instrument that helps a company commit to a future goal, motivate its organization through vision, clearly see its strengths and weaknesses, and move forward with a well-thought-out and measurable action plan. Thus, we can say that strategic planning sets direction, outlines measurable goals, and aids in changing approaches when moving forward. To develop an effective strategic plan, you must understand both where your business stands today and where it wants to be in the future.

• Define strategic planning and enlist elements of strategic planning      

• Explain the importance of an organizations mission and vision statements      

• Describe the core values and its unique value proposition     

• Outline goals, objectives, and plan to measure progress and performance