Strategic Planning And Operational Planning

903 WordsSep 4, 20164 Pages
In business planning there are two types of plans to consider. Strategic planning and operational planning. The first being a long term plan establishing goals for the organization and the later a series of short term goals that are set in an effort to accomplish the long term strategies previously laid out. Strategic planning is a tool best used by management when creating an overall vision of the organization. Managers build and organize strategic planning when there is a need to spell out the organizations mission, values, and responsibilities. Responsibilities can be to the organization, stakeholders, and customers alike. Strategic Components Different types of organizations would have different goals in their plan, but according to Strategic Planning for Dummies- There are 11 major components to any successful strategic plan starting with the mission statement. The purpose of a mission statement is to provide the overall purpose and what the organization is looking to accomplish. A vision statement provides the framework detailing the organization’s plans for the near future (3-5 years). The next recommended section is a values statement. This statement illustrates the core beliefs and guiding principles of an organization, and a brief view at the organizations position. Specifically, strengths, weaknesses, opportunities and threats, otherwise known by the mnemonic acronym SWOT, are all recommended to be included in a well written strategic plan. A sufficient plan
Open Document