Bus599: Crafting and Executing Strategy
Crafting and Executing Strategy
Bristal Stanfield
Dr. Fidelis E. Harrison
BUS 599 Strategic Management
October 18, 2012
Crafting and Executing Strategy
In today’s economy, there have been issues that cause Americans to grow weary of their tomorrow. One of the most important economic issues today is jobs. Job growth has moved at a slower rate than ever before. Unemployment is now and has been higher in past few years than it has been in a many years. Business owners and future business owners need to create stronger job markets in order to improve the struggling economy. An important factor in creating a business that will strive and have longevity is through strategic planning. Strategic planning is defined as an organization 's method of defining its strategy or direction and making decisions on allocating its resources to pursue this strategy. In my opinion, a strategic plan is the makeup or the lifeline of the company’s success.
This assignment will explain the importance of a strategic plan for my personal business. Also, create a mission statement and vision statement for my company and tell how these are vital to the company’s success. This assignment will also establish 5 key objectives for the company’s operational, financial, and human resource aspects of the business and how they support the mission and vision statements.
Christian Jabacs is the name of my business. Christian Jabacs is an online clothing boutique for women established by me, Bristal Stanfield and my sister Aquanda Stanfield in 2008. This business was discovered as we realized our love of fashion and the impact that it had on other individuals. The details of the online clothing boutique will be discussed in detail throughout this assignment.
Importance of a strategic plan
A strategic plan is the blueprint or layout of the business. In order to decide the path of the organization, it is necessary to understand its current position and the different options
Bristal Stanfield
Dr. Fidelis E. Harrison
BUS 599 Strategic Management
October 18, 2012
Crafting and Executing Strategy
In today’s economy, there have been issues that cause Americans to grow weary of their tomorrow. One of the most important economic issues today is jobs. Job growth has moved at a slower rate than ever before. Unemployment is now and has been higher in past few years than it has been in a many years. Business owners and future business owners need to create stronger job markets in order to improve the struggling economy. An important factor in creating a business that will strive and have longevity is through strategic planning. Strategic planning is defined as an organization 's method of defining its strategy or direction and making decisions on allocating its resources to pursue this strategy. In my opinion, a strategic plan is the makeup or the lifeline of the company’s success.
This assignment will explain the importance of a strategic plan for my personal business. Also, create a mission statement and vision statement for my company and tell how these are vital to the company’s success. This assignment will also establish 5 key objectives for the company’s operational, financial, and human resource aspects of the business and how they support the mission and vision statements.
Christian Jabacs is the name of my business. Christian Jabacs is an online clothing boutique for women established by me, Bristal Stanfield and my sister Aquanda Stanfield in 2008. This business was discovered as we realized our love of fashion and the impact that it had on other individuals. The details of the online clothing boutique will be discussed in detail throughout this assignment.
Importance of a strategic plan
A strategic plan is the blueprint or layout of the business. In order to decide the path of the organization, it is necessary to understand its current position and the different options
References: Conneely, J. F. (2010). Strategic planning and financial management. New Directions For Student Services, (132), 51-61. doi:10.1002/ss.375 Goodstadt, V. (2001). The Need for Effective Strategic Planning: The Experience of Glasgow and The Clyde Valley. Planning Theory & Practice, 2(2), 215-221. doi:10.1080/14649350120068821. Ilesanmi, O. A. (2011). The Impact of Strategic Planning on the Performance of Nigerian Banks. European Journal Of Scientific Research, 65(1), 131-143. Jackson, I. F. (1989). Information Systems Planning and Alignment: A Progress Assessment. Journal Of Information Technology (Routledge, Ltd.), 4(4), 216-229. Williams, A., Lankford, S., & DeGraaf, D. (1999). How Managers Perceive Factors That Impact Employee Motivation: An Application of Pathfinder Analysis. Journal Of Park & Recreation Administration, 17(2), 84-106.