2 List the 5 steps that must be considered in the creation o

2. List the 5 steps that must be considered in the creation of a successful strategic plan.

3. Describe the two types of external trends (OT) and give an example of each.

4. Describe the two types of internal trends (SW) and give an example of each.
5. Explain “gap analysis” in the context of strategic planning
6. Explain what “Leverage” is in the context of gap analysis
7. Explain “Constraint” in the context of gap analysis
8. Explain “Vulnerability” in the context of gap analysis
9. Explain “Problem” in the context of gap analysis
10. Define “Mission Statement” and “Vision Statement” so that I can tell that you understand the difference.
11. Strategic Planning leads to a choice of 6 kinds of choices in Performance Management System Design? What are these 6 sets of choices?

Solution

Following five steps needs to be considered while developing a successful strategic plan:

Perform an environmental analysis to identify the internal and external parameters of the environment in which the organization operates.

Create the organizational mission statement that shows the purpose of the existence of the organization.

Create the vision statement that includes the long-term goals of an organization.

Set the short term goal of the company

Create the strategies that would help the organization to achieve its vision, mission and goals.