131 Chapter One – Lesson One

 

Chapter Essential Questions:

  • What is a strategic plan?
  • How is a strategic plan developed?
  • What is an operational plan?
  • What is a vision and mission statement and how is it a part of a strategic plan?
  • What is an operational plan and how does it relate to a strategic plan?
  • How are staff, community members and other stakeholders involved in strategic planning and why are they important to have involved?

Lesson 1: Introduction to Strategic Planning for Managers

Outcomes:

By the end of this lesson, you should be able to:

    • Identify a strategic plan;
    • Describe the critical elements of a strategic plan;
    • Describe the importance of maintaining strategy formulation processes;
    • Discuss the importance of incorporating a mission and vision statement.

Strategic Plan

A strategic plan is a comprehensive, detailed plan that outlines an organization’s long-term goals and objectives, as well as the strategies and tactics needed to achieve those goals. It defines a company’s direction, clarifies its purpose, and helps align all aspects of the organization to work towards the same goal. A strategic plan typically involves a thorough analysis of a company’s strengths, weaknesses, opportunities, and threats (SWOT analysis), and includes specific actions to be taken to achieve each goal. A strategic plan is an essential tool for businesses, nonprofits, and governments seeking to achieve long-term success and sustainability.

A strategic plan is a must for every business – as it allows your company to know where it is going and how it plans to get there. It also defines who you are as a business and provides a concrete list of actions to achieve your goals. Even when something unexpected occurs, your strategic plan helps you survive and find new opportunities to stay true to your values and mission.  Lastly, a strategic plan is a team-building exercises that can bring together employees and transform how they communicate.

Critical Elements of a Strategic Plan

Strategic plans differ based on the company, its goals and its values. However, most strategic plans follow the same layout and describe the company’s current state, desired future state and how they plan to go from one to another.

Specific components usually include:

  • An executive summary
  • A company description
  • Mission, vision and value statements
  • Strategic analysis of the internal and external environment
  • SWOT analysis (“SWOT” is an acronym for strengths, weaknesses, opportunities and threats)
  • A description of your business goals and projects to achieve them
  • A 12-month action plan that lists specific initiatives, who will carry them out, a timeline for doing so and key performance indicators to track progress

Some plans also include details of how implementation will be monitored and evaluated.

Let’s Dive Deeper Into the Fundamentals

Executive Summary

An executive summary is a condensed version of a document that provides a brief overall view of its contents. The length and extent of the summary may vary depending on the particular document it represents, but typically spans one to two pages.

The main goal is to impart all pertinent information to the target audience and crucial stakeholders. The executive summary is comprised of four fundamental sections:

1. Start by presenting the issue or problem that the document aims to address.
2. Provide an outline of the proposed solution.
3. Elaborate on the benefits of the solution and its overall value.
4. Conclude with an assessment of the significance of the work.

Maintaining Focus

Maintaining strategy formulation processes is crucial for several reasons. First, it allows organizations to adapt to changes in their internal and external environments. Markets, competition, technology, and customer needs are constantly changing, and organizations need to be able to adjust their strategies accordingly.

Second, maintaining strategy formulation processes increases organizational agility and responsiveness. Having an ongoing strategic planning process means that organizations can quickly respond to emerging opportunities or threats, rather than having to start the planning process from scratch.

Third, it helps organizations to stay focused on their long-term goals and objectives. With a clear strategic plan in place, it is easier to prioritize resources and make decisions that support the organization’s goals.

Finally, maintaining strategy formulation processes promotes organizational alignment. It ensures that everyone in the organization is working towards the same goals, and that resources are being used effectively and efficiently. By regularly reviewing and updating the strategic plan, an organization can ensure that it remains relevant and effective over time.

Mission and Values

Incorporating a mission and vision statement as an organization is crucial for a few reasons. First, it provides clarity and guidance to the organization’s purpose, values, and long-term goals. This helps stakeholders understand what the organization stands for and what it hopes to achieve, which can help build trust and support.

Second, a mission and vision statement serves as a tool for decision-making. When faced with difficult choices, an organization can refer back to its statement to ensure its actions align with its goals and values.

Third, a mission and vision statement can help attract and retain employees and supporters who share the organization’s values and goals. People are more likely to be motivated and productive when they feel their work is contributing to a greater purpose.

Overall, a clearly defined mission and vision statement is essential for Indigenous organizations to effectively communicate their purpose and values, make well-informed decisions, and attract and retain like-minded individuals.

Incorporating a mission and vision statement is crucial for organizations of all types and sizes. These statements serve as guiding principles that define the purpose, direction, and values of an organization. They provide a clear sense of identity and a framework for decision-making, goal-setting, and strategic planning. Here are some key reasons why mission and vision statements are important:
  1. Purpose and Direction: A mission statement outlines the fundamental purpose of an organization, its reason for existence. It communicates what the organization does, who it serves, and what sets it apart. A vision statement, on the other hand, describes the desired future state or long-term aspirations of the organization. Together, these statements provide a sense of purpose and direction, helping employees, stakeholders, and customers understand the organization’s goals and what it aims to achieve.
  2. Strategic Alignment: Mission and vision statements help align the efforts of individuals and teams within an organization. When everyone understands and embraces the mission and vision, it becomes easier to make decisions and take actions that are in line with the overall strategic direction. They serve as a compass, guiding the organization’s priorities, resource allocation, and strategic initiatives.
  3. Decision-Making: Mission and vision statements provide a framework for decision-making. When faced with choices and opportunities, organizations can refer back to their mission and vision to evaluate whether a particular course of action aligns with their core values and long-term goals. This helps ensure consistency and coherence in decision-making across different functions and levels of the organization.
  4. Employee Engagement and Motivation: Clear and compelling mission and vision statements can inspire and motivate employees. When employees understand the organization’s purpose and see how their work contributes to the larger mission, they are more likely to feel a sense of pride, ownership, and engagement. Mission and vision statements can foster a sense of shared values and a common sense of purpose among employees, leading to increased job satisfaction and productivity.
  5. Stakeholder Communication: Mission and vision statements are powerful communication tools. They convey the organization’s values, goals, and aspirations to internal and external stakeholders, including employees, customers, investors, partners, and the wider community. Well-crafted statements can enhance the organization’s reputation, attract like-minded stakeholders, and build trust and loyalty.
  6. Adaptability and Resilience: Mission and vision statements can help organizations navigate change and adapt to evolving circumstances. When faced with challenges or disruptions, organizations can use their mission and vision as a guiding light to stay focused on their core purpose and values. This can provide stability, resilience, and a sense of continuity in times of uncertainty.

In summary, incorporating a mission and vision statement is essential for organizations to define their purpose, set strategic direction, align efforts, make informed decisions, engage employees, communicate with stakeholders, and navigate change. These statements serve as a compass that guides the organization’s actions and ensures that it stays true to its core values and long-term goals.

Journal Question

Using the forum labelled “Course 11: Lesson 1,” make a journal entry responding to the prompt below. Ensure that you title the entry “Lesson 1”. Ensure that you title the entry “Lesson 1”.  After writing a journal entry, go and make a comment on two other posts from your classmates. It can be about anything you noticed, liked, agreed with etc. The idea is to continue the dialogue about the topic.

Prompt: For this journal response, you will look at the following questions and write 3-5 key bullet points about your ideal company.

  • What is our ideal future/world/society look like in our community?
  • What is the biggest difference we, as an organization, could make for our future decedent’s?
  • Why is it important for others to know about the work we doing as an organization?

*View the journal entry and journal comment rubric to see how they will be marked. 

Criteria Exemplary
4		 Accomplished
3		 Developing
2		 Beginning
1
Purpose Strong voice and tone that clearly addresses the purpose for writing. Appropriate voice and tone. The purpose is largely clear. Attempts to use personal voice and tone. Somewhat addresses the intended purpose. Demonstrates limited awareness of use of voice and tone. Limited evidence of intended purpose.
Understanding Many interesting, specific facts and ideas are included. Many facts and ideas are included. Some facts and ideas are included. Few facts and ideas are included.
Conventions All grammar and spelling is correct. Only one or two grammar and spelling errors. A few grammar and spelling errors. Many grammar and spelling errors.
Reply Made two significant contributions to the online forum. Highly supportive of others. Made one contribution to the online forum.  Supported group members. Attempted to contribute to online forum but was vague and unclear in the writing. Minimally involved. Offered limited support to online group members.

References

Hall, F. (2013, June). The Importance of Strategic Planning. Research Gate. https://www.researchgate.net/publication/241688503_The_Importance_of_Strategic_Planning

License

Indigenous Public Works and Housing Management Copyright © by Saskatchewan Indian Institute of Technologies. All Rights Reserved.

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