Fairleigh Dickinson University, Vancouver Campus MADS 6612 V5B – Seminar Strategic Management
Taranjeet Kaur, MAS (Candidate)
Student ID: 1732181
Instructor: Dr. Paulette Laubsch
11th March ,2017
1. Vision and mission statements provide information about the organization. They appear in strategic and operational plans. How do you define vision and mission statements? How should they be developed and used?
Ans – Vision Statement of an organization can be defined as an inspirational description of what an organization would like to achieve or accomplish in the mid-term or long term future. It becomes basis of choosing current and future actions for an Organization.
Mission Statement of an Organization – It is a written declaration
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What components should be included in the planning efforts and the final plan? How are operational plans defined, and what do they contain?
Ans – Strategic plan of an organization is its strategy, provides a uniform direction to entire organization to pursue their goals and objectives.
Components of Strategic Plan - 1. Mission and Vision Statement – Mission is a written declaration of the purpose of an organization and Vision is that business will accomplish in future years.
2.Competitive Advantage – It includes the best product of an Organization in the competitive market.
3. SWOT - A SWOT analysis is a summary of the present position of the strength, weakness, opportunities and threat of the organization.
4. Strategies – Strategies are the basic stage of reaching vision.
5. Score card – It reports the data of Key Performance Indicators and track performance against the monthly targets.
An operational plan can be defined as a strategy planned by an organization that clearly defines action that it will take to support objectives of upper management.
Operational plans includes following -
1. Single use plan – It address only the present state or specific problems.
2. Ongoing plan – It depends on future period and can be changed whenever needed.
Beside this, It includes special plans for low level and day to day activities and processes supports the tactical plan. Operational plan is limited to only one part of the organization.
3. One
2.3 Implement operation plan within own area of responsibility; The operational plan that I have submitted is from my area of responsibility, this has been devised by using the organisational strategy and working out my areas on responsibility. This allows me to have an end goal and then I need to plan how to achieve it. Once this is done I can work out a step by step plan of what needs to be done and by whom. This is all added to the plan along with any other obligations that will arise like staff supervision and appraisals and monitoring. I can then arrange the plan so that it is ordered by
In short a Vision statement describes the organization's vision for the future. It provides an organization a strong sense of direction as well as an end destination point for management and staff to strive to achieve through their diligent work ethics. (Evans, 2010)
Operational planning is an introverted approach to short term planning. This process is used to accomplish the tactical objectives of a business in advance, with a plan that changes yearly. The planning, which is usually completed by middle level management, is revolved around the routine activities of the business in a narrow scope. Operational planning is the day-to-day actives of the business that support the strategic planning. While strategic planning is a plan implemented for the whole organization, operational planning is classified into various units, divisions or departments. The objectives must be clearly defined to make this process successful and the activities executed to achieve the end results should be measurable.
An operations plan is a manual for operating your organization. Designed, to ensure that you or me accomplish the goals. By using a process of determination in advance of setting short-range objectives. What, and how, will the steps will be accomplished? It’s a major or minor key piece of a puzzle, for any goal-oriented team.
An organizations existence is based on its mission statement. The mission statement of an organization identifies the people who it serves and states the standards of practice, ethics, and principles for which it believes in. An organization’s vision statement looks into the future and states goals the organization wishes to accomplish (Marquis & Huston, 2012). The mission and vision statement are important for driving the climate and culture of the organization.
The vision statement reflects “where the company is headed in investing its future and why. It contains the expectations the organization strives to achieve” (Lussier, 2015). The visions will represent the future ideal scenario that a company.
The mission and vision statement not only gives an explanation of what or who you are as a company or corporation. A mission and vision statement also articulates what an individual or an organization seek to strive for, the aspiration to flourish and involve members for years to come (Remvig, 2010). The Memorial Hermann Hospital organization is a community owned level one trauma academic facility which details their
Planning is a key pillar for a successful organization, and it involves organizing different activities in order to achieve a set goal. The organizational strategic planning process involves the following steps (Nordin et al. 374-377):
All members involved in the plan must have the same target and goals. Do not get confused with operational planning and strategic planning because there is a big difference between the two. Operational planning is more on the financial aspects. Always keep in mind that you are in a plan that involves the current events in the market while foreseeing the future changes. It is very important to have a clear communication with your staff from time to time so that every idea will be refreshed. A single error or misguidance can actually create a big impact in your entire plan so be cautious about
An operational plan, also known as an action plan, is derived from an organisation’s strategic plan. It is a more concrete, detailed document that outlines how the strategic plans of an organisation will be achieved in practice. It includes projects to be undertaken, actions, resource policies, responsibilities and timeframes. It outlines the actions teams/individuals within an organisation will take to achieve its objectives and also outlines any major projects within the relative time period. An operational plan will contain details of:
The primary purpose of the Mission statement is to guide all the stakeholders to follow the same mission for the betterment of the organization while the vision statement offers a comprehensive direction with the perception of the corporate values (Darbi 2012). It also provides the aim an organization set to achieve shortly.
Operational Plan - This covers the day to day operations of your business, from location and
Develop the Vision, Mission, Goals and Guiding Principles – that will tie the purpose and tasks of the organization to the strategic plan. The vision is the defined character of the organization expected while delivering the mission and goals of the organization. The mission is the purpose of the organization and is the comparative to the strategic plan for alignment. The mission when compared to the strategic plan asks are we doing what we said we will do? Next are defining goals, which are the tactical, measurable and time bound tasks and projects for the team. Finally, the guiding principles provide the parameters that are acceptable and not acceptable to achieve the mission, vision and goals. Each piece of this step helps to define and align the culture and environment of the organization to the strategic plan by giving boundaries defining who we are, what we are doing, how we are doing and how we will act when doing it.
When working on a strategic plan, an organization needs to first define its vision and mission. The vision basically asks where the organization want to go, while the mission defines how it will get there. The organization’s vision and mission will help guide the strategy formulation team with coming up with goals and objectives that are appropriate for the organization.
To best establish an efficient operations plan, it is best to analyze the specific information related to DSS’ operational processes. According to Abrams, the operational section of a business plan should emphasize certain aspects of its operations to include: key characteristics, competitive advantages, cost