Strategic Management Plan Paper
1. Write a mission statement that defines why your company exists. For example, “To provide Internet-based customer service software to small retail businesses.”
2. Write a vision statement. A vision captures an organization’s aspiration and spells out what it ultimately wants to accomplish.
3. Write a values statement. This reflects a company’s priorities. For example, “Customers will be treated with extreme respect.”
4. Analyze the external environment that includes various aspects, such as political and economic trends. For example, the economy is currently in a recession. (PESTEL analysis)
5. Perform a SWOT analysis. This addresses the company’s strengths, weaknesses, opportunities and threats.
6. Document potential immediate and long-term issues. For example, few qualified applicants for staff, limited sources of input (value chain issue), cost effective marketing, capital funding, etc.
7. Determine strategic goals. Where do you want to be in 1 year, 3, 5, 10 years? (sales, size, growth, etc.)
8. Establish approaches to reaching strategic goals. For example, if a goal is to double sales in the next year, indicate that the sales force will be increased by _____% by the end of the next year.
9. Determine staffing requirements. How many employees will you need, and what will they do?
10. Develop action plan to support the strategic plan. For example, determine what needs to be done first, second, etc., and who is responsible for doing what, within a specified timetable.
11. Develop an operating budget to fund the strategic plan. Indicate the resources required and their cost.
12. Indicate how the plan will be monitored and evaluated.
13. Determine how the plan will be communicated to internal and external parties.