Explain strategic planning what is the difference between a

Explain strategic planning. what is the difference between a mission and a vision in a business. Without necessarily naming your employer or former employer, how would you describe their vision and mission statements?What should they be? Must be approximately 250 words, and draw upon your personal and professional experiences. Where possible, incorporate at least one key principle from strategic plannin into your discussion.

Solution

Strategic planning is a process executed by any firm to create a plan for accomplishment of all long-term goals. This sets the priorities by focusing on the key resources, strengthening the operations and making sure that the all the stakeholder inclusive of employees work towards a common goal, to remain competitive. Efficient strategic planning should reflect the direction in which organization moves by having proper checks and balances. Hence, a strategic plan is used to cascade the organizational goals to everyone in the firm. Strategic planning involves analysis, formulation, execution and evaluation phases.

A mission in a business describes the organization’s motive for presence. It defines the organization’s complete purpose and what it does. This supports the vision of a business and provides the direction to all internal or external stakeholders by setting up the priorities. Hence, a mission statement is designed to answer such as ‘What we do and how are we different from others” by connecting present with the future. A mission statement can be changed or modified without changing the core values or needs.

A vision in a business describes the future state of the organization by inspiring all the employees. Hence, a vision statement is designed to answer such “Where we want to see ourselves”. It should be clear by mentioning about the future by aligning values.

Example for a Mission statement – “We work hard each day to make XYZ the world\'s most esteemed service brand”.

Example for a vision statement – “XYZ : To become a world leader in connecting human kind”.