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Planning Strategies in an Organization
Planning Strategy in an Organization
Strategic planning in a corporate organization is the process by which the latter defines its schemes, flow of work or organizational functionality and its decision making process. This is done by allocating necessary resources to quest after in the strategy. A planning strategy is enhanced by various components that include comprehension of the organization. They include the organization's vision, mission, values and strategies. A deeper and participatory planning strategic process connects the tactical vision to execution of organizations' strategies (Sinofsky & Iansiti 2009). This context majorly discusses the implications of having a mission statement and objectives in strategic planning processes.
Mission Statement
A mission statement is a concise description of an organization's elementary purpose. It mainly answers the question "why are we established?" It enunciates a company's purpose for its members and for the entire targeted public. A notable organization that addresses its mission statement to attract its customers is the British-American Tobacco. It is a business-oriented company in world production and sale of the finest tobacco and the second largest tobacco company in market share. The company does not have a specific mission statement but it achieves to sustain its corporate brand dominance furthering to enhance its brand market presence.
a) Role of the mission statement
As depicted in the British-American Tobacco Company, it is evident that a mission statement is vital in conduction of a company's operations. The mission statement acts as a constitution...
It assists in the implementation of the targets to be accomplished by the organization (Epstein 2008). In the documentation of an organizational annual report, the mission statement if often included.
A mission statement sets and raises awareness of an organization and begins its sustainability. Goals in which the company wants to achieve are represented by the mission statement. It also adds up to and communicates more of the constituents; the employees, shareholders, clientele among other affiliates. By stipulating the corporation principles, a company has the ability to declare its strategy and methodology of implementation.
A mission statement renders the ultimate principles that foresee the future steps of strategic planning. The outcomes communicated by the mission statement help in the identification and setting of objectives in the company.
b) Relation of mission statement to planning strategy
A mission statement is an essential aspect in strategic planning. An organization should have a vivid conception of its overall purpose prior addressing the task of the planning and situational objectives (Seker, 2007). It is the first developmental process of a business operation. The experience of the resultant business is greatly attributed to the mission statement.
Objectives
In comparison to the mission statement, objectives are explicit or quantifiable, realistic and with a definite time schedule. Objectives need to well stipulate so as to produce the relative results being pursued by the organization. Research studies to the British-American Tobacco shows that its objectives are focused…
References
Singh, S. P & Singh, V.K. 2011. Three-level AHP-based heuristic approach for a multi-objective facility layout problem. International Journal of Production Research. Vol 49, Issue 4. Pg 1105-1125.
Epstein, M.J. 2008. Making Sustainability Work: Best Practices in Managing and measuring Corporate Social, Environmental and Economic Impacts. New York: Berrett-Koehler Publishers.
Seker, Y. 2007. The Role of Mission and its Position within the Strategic Management Process. New York: GRIN Verlag.
Sinofsky, S & Iansiti, M. 2009. One Strategy: Organization, Planning and Decision Making. New Jersey: John Wiley and Sons.
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