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The fundamentals of a strategic plan

The fundamentals of a strategic plan

The fundamentals of a strategic plan include the core values, mission, and vision which represent the organizational identification (ID). Your Assignment this week requires you to develop the organizational ID for your chosen Capstone Project agency, organization, or community.

To prepare:

Review Final Project: Developing a Strategic Plan –Part 1: The Fundamentals media in the Weekly Resources.
To prepare for this Assignment, review your Discussion 2 post from Week 1. Research the core values, mission, and vision of your selected agency, organization, or community.
In addition, consider the key stakeholders involved with the agency, both internally and externally, including other professions.
Consider whether this agency addresses or supports the mental health and welfare or human rights of individuals.

The Assignment (3–4 pages):
For this Assignment, perform the following:
Identify and describe the core values of the agency.
Discuss the degree to which those core values are aligned with advocacy, leadership, or social change.
State how those core values contribute to the well-being of individuals, groups, societies, or international communities.
Identify and describe the mission of the agency, organization, or community.
Evaluate whether the mission statement is aligned with the core values of the agency, organization, etc.
Describe whether the mission statement promotes advocacy, leadership, or social change.
Discuss whether the mission statement provides evidence of how the agency/organization contributes to the well-being of individuals, groups, societies, or international communities.
Identify and describe the vision of the agency.
Evaluate whether the vision is aligned with the core values of the agency, organization, etc.
Describe whether the vision promotes advocacy, leadership, or social change.
Discuss whether the vision provides evidence of how the agency/organization contributes to the well-being of individuals, groups, societies, or international communities.
Identify and describe key stakeholders involved with the agency.
Discuss whether each stakeholder is internal or external to the agency/organization.
Describe the role each stakeholder has in the organization (i.e., leadership, management, staff, recipient of services, etc.).
Discuss how each stakeholder can be an essential element for gathering information to develop the strategic plan.
Support your Application Assignment, citing all resources in APA style, including those in the Learning Resources.

 

An effective tactical program will tackle each one of these questions and provide very clear replies for followers of your program – be they workers, business partners, traders, or other stakeholders. Let’s take a look at the 5 key elements of a strategic plan that will help us to answer those questions:

1. A Sight No shocks here – we need to begin by understanding our eyesight for the company (the vacation spot). We’ve written extensively about how to write the perfect vision statement, so do check out those posts for more detail, but we can’t emphasize enough how critical a vision is for your organization. Your vision will help you to:

a. Take alignment to the organization, where men and women unify their endeavours towards a typical goal, driving a vehicle increased effectiveness b. Create goals which are cohesive and focused c. Inspire employees, investors and other stakeholders to invest in your business both emotionally and commercially d. Creating a vision statement is the obvious starting point for defining your overall vision. But you may also want to consider creating a mission statement too. A mission statement differs from a vision statement as follows:

A vision declaration describes where you wish to be in the future. A mission statement defines broadly how you will get there (part of your journey). The focus is on how they will achieve their vision, and also act as the bedrock for the majority of their strategic goals and KPIs.

2. Central Values Values really don’t obtain the credit score they are entitled to! People often see them as throw-away and vacuous – more aimed at marketing the organization than guiding its true internal behaviors. But a well crafted set of values can be the difference between success and failure for your strategic plan. Check out this blog post for more detail, but in summary, core values help you to:

a. Evaluate your own state of the items you do well and are designed for b. Make better decisions by helping you to rule out courses of action that are not appropriate for your company c. Recruit better people who share your beliefs and passions

A frank personal-assessment of methods you need your company to react is important. It should reflect the values of your very best people. Also, the values that have been essential to your success. A core value set is a critical component towards defining your starting point and your journey.

3. Plainly Identified Results A strategic program is definitely not without a set of evidently identified results. No-one will take your plan seriously unless you can clearly articulate what steps you are going to take to get there – and what success looks like for each of those steps.

Each and every your effects will be immediately quantifiable. But, when you define your outcomes, they should be = [ Action + Detail + Metric + Unit + Deadline]

This is certainly such a little details, however it is also one of many key elements of a ideal plan that so many businesses fail to apply. A lack of accountability will absolutely destroy your strategy execution.

Identifying your responsibility will take part in understanding your vacation. Ideally, the people responsible for a particular segment of your plan should also have been critical contributors to the plan itself. That’s the best way to drive engagement and to self-enforce accountability. VComply helps an organization to achieve this.

Simply condition a single individual who will have major responsibility for that result. It needs to be clear that the primary accountability sits with the one individual initially assigned to the outcome, and no-one else!

5. KPIs This is basically the toughest of the important elements of any strategic program. But without KPIs, you won’t know until it’s too late about whether or not you’re succeeding as you head towards your vision. KPIs should relate to how well you’re delivering against the components of your mission or focus areas.

Don’t let establishing KPIs to become more challenging than it needs to be – so you don’t will need a couple of or two KPIs for each of your focus locations. But you do need to ensure that your KPIs accurately reflect what success actually looks like for that focus area, and also that you’ll be able to accurately measure the KPI on a regular basis. Selecting the right KPIs is, therefore, one of the key elements of a strategic plan. A Key Performance Indicator is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs at multiple levels to evaluate their success at reaching targets. VComply helps an organization to assign KPIs to individuals on a single integrated platform.

Month-to-month Continuing Earnings (MRR) It seems limited to the profits you make every month which can re-take place with minimal to no more expenditure necessary. If a customer subscribes to a monthly subscription of a magazine, it increases the MRR.

Gross Profit Margin Conveys your revenue like a amount of complete revenue profits made. This gives you a high level view of how much profit you’re making, although it doesn’t factor in all expenses so shouldn’t be used for detailed decision making. It is however useful for bench-marking your performance over time or comparing your profitability to another similar company.