This paper addresses highlights the elements of a strategic plan and it’s importance in organizations.
I reviewed available literature, it is worth noting that there is an abundance of articles and books on the subject. For my literature review, I relied on my Principles of Business Management textbook and blogs on the subject.
The sources reviewed describe the strategic plan as a road map that provides a platform for communications and priorities.
In my current organization, our leadership team is embarking on completing our three year strategic plan. Although, I have participated and contributed in the preparation of past plans, I like to have a better understanding of what makes an effective strategic plan.
What’s a Strategic Plan?
(Carpenter M., Bauer. T., Erdogan, B. 2010. This book defines planning as follows: “Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives.” The authors also talk about as part of the planning process, planers need to
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Evans blog and other literature on the subject. So far, for this current plan, we have laid-out the first five elements and will be working on the action plans this Fall. While all components are critical pieces to the plan, as an operation’s manager, my division spends a great deal of time on the “Action Plans”. This component lays-out the deliverables associated tasks, owner and time frames that are essential for the organization to stay on track towards meeting the goals. In my career, I have experience that while the vision, mission, core values remain pretty much the same for a public agency, the areas of focus, goals and action plans are more active and the action plan is very dynamic. For example, at work, once we finalize the action plan, is reviewed monthly and depending on the magnitude of the goals, progress is reviewed