Steve Holcomb Services Eyecatching Interiors provides complete interior painting for the residential and commercial markets. The emphasized service for the company is woodwork. Eyecatching Interiors prides itself in the finest quality woodwork and takes pride in all of its projects.
Michael Porter  Strategic planning activities include meetings and other communication among the organization's leaders and personnel to develop a common understanding regarding the competitive environment and what the organization's response to that environment its strategy should be.
A variety of strategic planning tools described in the section below may be completed as part of strategic planning activities. The organization's leaders may have a series of questions they want answered in formulating the strategy and gathering inputs, such as: What is the organization's business or interest?
What is considered "value" to the customer or constituency? Which products and services should be included or excluded from the portfolio of offerings? What is the geographic scope of the organization?
What differentiates the organization from its competitors in the eyes of customers and other stakeholders? Which skills and resources should be developed within the organization? The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and specific action plans to be implemented.
The organization may use a variety of methods of measuring and monitoring progress towards the objectives and measures established, such as a balanced scorecard or strategy map. Companies may also plan their financial statements i. The term operational budget is often used to describe the expected financial performance of an organization for the upcoming year.
Capital budgets very often form the backbone of a strategic plan, especially as it increasingly relates to Information and Communications Technology ICT. Outcomes[ edit ] Whilst the planning process produces outputs, as described above, strategy implementation or execution of the strategic plan produces Outcomes.
These outcomes will invariably differ from the strategic goals. How close they are to the strategic goals and vision will determine the success or failure of the strategic plan.
There will also arise unintended Outcomes, which need to be attended to and understood for strategy development and execution to be a true learning process. Tools and approaches[ edit ] Video explaining the strategic plan of the Wikimedia Foundation Wikimedia Movement Strategic Plan PDF A variety of analytical tools and techniques are used in strategic planning.
Responsive Evaluationwhich uses a constructivist evaluation approach to identify the outcomes of objectives, which then supports future strategic planning exercises. In business, the term "financial plan" is often used to describe the expected financial performance of an organization for future periods.
The term "budget" is used for a financial plan for the upcoming year. A "forecast" is typically a combination of actual performance year-to-date plus expected performance for the remainder of the year, so is generally compared against plan or budget and prior performance.
The financial plans accompanying a strategic plan may include 3—5 years of projected performance. The four stages include: Financial planning, which is primarily about annual budgets and a functional focus, with limited regard for the environment; Forecast-based planning, which includes multi-year financial plans and more robust capital allocation across business units; Externally oriented planning, where a thorough situation analysis and competitive assessment is performed; Strategic management, where widespread strategic thinking occurs and a well-defined strategic framework is used.
Categories 3 and 4 are strategic planning, while the first two categories are non-strategic or essentially financial planning.It is very critical to make the outline of a company’s strategy of growth in a business plan. However, having numbers to back up the plan makes the whole strategy complete.
As just mentioned, the purpose of the case study is to let you apply the concepts you've learned when you analyze the issues facing a specific company. There are seven major components of a business plan, and each one is a complex document. This Small Business Plan Sample will help you write your business plan in the correct manner.
You will get to see what a business plan . The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business. We support America's small businesses.
The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business. Dec 13, · Your strategic plan sets your priorities for your business.
It determines where you are going to focus your energy and resources, and sets goals for your employees and other stakeholders. Strategic planning helps you look at all the things your business could do /5(18).