Planning Strategies in an Organization
Planning Strategy in an Organization
Strategic planning in a corporate organization is the process by which the latter defines its schemes, flow of work or organizational functionality and its decision making process. This is done by allocating necessary resources to quest after in the strategy. A planning strategy is enhanced by various components that include comprehension of the organization. They include the organization's vision, mission, values and strategies. A deeper and participatory planning strategic process connects the tactical vision to execution of organizations' strategies (Sinofsky & Iansiti 2009). This context majorly discusses the implications of having a mission statement and objectives in strategic planning processes.
Mission Statement
A mission statement is a concise description of an organization's elementary purpose. It mainly answers the question "why are we established?" It enunciates a company's purpose for its members and for the entire targeted public. A notable organization that addresses its mission statement to attract its customers is the British-American Tobacco. It is a business-oriented company in world production and sale of the finest tobacco and the second largest tobacco company in market share. The company does not have a specific mission statement but it achieves to sustain its corporate brand dominance furthering to enhance its brand market presence.
a) Role of the mission statement
As depicted in the British-American Tobacco Company, it is evident that a mission statement is vital in conduction of a company's operations. The mission statement acts as a constitution...
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