Mission Vision Mission And Core Competencies Inform Strategic Planning

| Most successful companies utilize business strategic planning to set priorities and goals for the organization's future; outcomes include short-term goals and long-term strategies.  A clearly written, well designed strategic plan can align business units, divisions and employees so that the vision of the management team and the mission of the company can be fulfilled.  As companies evolve and the environment changes it is critical for companies to maintain a disciplined execution of the strategic plan.However, if they are not

(P1.1) In formulating a business strategy, it is a crucial factor to determine what the organization’s mission, vision, objectives and core competencies are because it sets an idea on what the organization should do and what purpose do they have in the industry to contribute to their customers. It also helps what markets should they target and what action should they plan to have a competitive advantage.

1. Mission and Vision Statement – Mission is a written declaration of the purpose of an organization and Vision is that business will accomplish in future years.

Strategic planning within a company is a tool used in companies that help mature areas in total quality management. This type of planning creates a cohesive management system for lower level employees to better adapt in. “Strategic planning determines where an organization is going over the next year or more and how it 's going to get there. Typically, the process is organization-wide, or focused on a major function such as a division, department or other major function”(McNamara, 2008). In order to plan effectively one must first make a clear assessment of the plan and have an analysis on the corporations mission statement and objective.

Strategic planning is designed to leverage the strengths of a firm while minimizing the effects of its weaknesses.  It is difficult to know the potential advantage a firm may have unless external analysis is done well.  For example, a company may have a talented marketing department or an efficient production system.  However, the organization cannot determine whether these internal characteristics are sources of competitive advantage until it knows something about how well the competitors stack up in these areas.

The strategic plan is essential for the organization because it is a tool used to guide the decisions

Strategic planning can dictate the success of any organization if properly planned as well as the failure of an organization if not implemented as planned. Strategic planning is all about making choices. It is a process designed to support leaders in being intentional about their goals and methods. Simply stated, strategic planning is a management tool, and like any management tool, it is used for one purpose only—to help an organization do a better job. This portion of the strategic plan will explain why an

Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. This process begins with a clear company mission statement. However, this is only a small piece of a dynamic and perpetual process. Other activities involved with strategic planning also include setting supporting organizational objectives, designing a sound product mix as well as coordinating functional strategies. Strategic planning works to set the groundwork for the rest of the subsidiary planning functions in the company.

First, I should set my vision and mission towards the company’s profile to set the future goal. Objectives are set to reach the destination by achieving or successfully completing all the strategies by following through an action plan.

Strategic planning involves making decisions about the organization’s long-term goals and strategies and how the organization decides to implement their goals (Bateman, Snell, Konopaske, pg. 113). Strategies help organizations to have a clear perspective on how to go about accomplishing the goals they have in place. All organizations have a clear vision of what their mission and purpose as a company is, they know how to fulfill the mission, vision, and purpose and they know how to ensure that they accomplish all their goals. However, the route the organization takes to define these things determines how effective they will be.

The Mission, Vision and Values of a company play a Fundamental role in Strategy Formulation and Strategic planning. We will discuss throughout this assignment, how developing effective mission, vision and values can help shape, develop and guide a firms Strategic choices. They reflect the firm's fundamental core ideology. At the most basic level a mission statement can describe the firms overall purpose for being. It provides an inside to the present business scope and purpose of the firm that is "who we are, what we do, and why we are here". It explains the firm's very reason for existing. It will

David, F. (2013). The Business Vision and Mission.  Strategic Management. Pearson Education Retrieved from http://faculty.unlv.edu/amiller/BUS496/david%20_sm14_inppt02.ppt

According to literature, strategic planning is vital for strategic management. Burgelman (1994) points that strategic planning is a process which decides how, when and who is going to plan and how the results will be implemented. Drucker (1974) identified that the planning for an organization’s future that includes setting major overall objectives, the determination of basic approaches to be used in

Strategic planning is the process of gathering information from stakeholders, market players, professional entity, and government agency. The purpose of gathering information is formulating a realistic and a workable framework that any organization can implement and work with. Evaluation of information is a key aspect in determine the kind of plans that the organization wish to a chive over certain a period. Strategic planning ensures the implementation is, crafted well, and parties involved be acquitted with it. Developing a good Strategic plan helps a company to implement its missions and visions effectively, and helps the company to evaluate

Strategic Planning set the stage for the rest of the planning in the firm. It involves defining a clear company mission, setting supporting company objectives, designing a sound business portfolio and coordinating functional strategies. At corporate level the company first defines its overall purpose and mission.