These companies can try to entrance our market by launching new product lines to compete us. Yet, we have distinct competitive advantage.
How to Write a Strategic Plan By Erica Olsen Not to oversimplify how to create a strategic plan, but by placing all the parts of a plan into three areas, you can clearly see how the pieces fit together. The three pieces of the puzzle are: Where are we now? Where are we going?
How will we get there? Each part has certain elements to show you how and where things fit it. Our 4-Phase Guide to Strategic Planning lays out each step of the planning process.
As you think about where your organization is now, you want to look at your foundational elements mission and value to make sure there has not been a change. More than likely, you will not revise these two areas very often.
Then you want to look at your current position or your strategic position. This is where you look at what is happening internally and externally to determine how you need to shift or change.
You should review your strategic position regularly through the use of a SWOT. These elements are as follows: Some mission statements include the business of the organization.
Others explain what products or services they produce or customers they serve. Does your mission statement say what you do? Why does your organization exist? This clarifies what you stand for and believe in.
Values guide the organization in its daily business. What are the core values and beliefs of your company? What values and beliefs guide your daily interactions?
What are you and your people really committed to? SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. These elements are crucial in assessing your strategic position with your organization.
The following elements help you define the future for your business: A sustainable competitive advantage explains what your are best at compared to your competitors.
Each company strives to create an advantage that continues to be competitive over time. What can you be best at? What is your uniqueness? What can your organization potentially do better than any other organization? What will your organization look like in 5 to 10 years from now?In this MBA in project management degree program, you learn the core functions of a project manager and apply research based concepts to improve your effectiveness.
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