Strategic Planning in the Small Business

Unit 3

Content

Process

spective of the

recognized

capabilities

and competencies.

distinctive

Those opportunities

most consistent

with

the firm's

competencies and

capabilities

are the ones that

are actively pursued

and

become

the focus for subsequent

planning

efforts.

E. Step 3: Develop

a strategy

THE VISION STATEMENT

An important step

in the strategic mana-

gement process is

to develop a clear

and

distinct description

of what the

business

can become.

This is called a

vision

statement.

Hand out

(HO 3-2:

Future.)

a reading on

Establishing

vision

statement

a Vision

for the

According to John

Bryson, University

of

Minnesota in order

to construct a compel­

ling

vision statement

... "key decision

makers must be

courageous. They

must

listen

to their best selves

in order to

envision success

for the organization

as a

whole.

And they must

be disciplined

enough

to affirm the vision

in the present,

to

work hard to make

the vision real in

the here

aiid now."

A vision statement

should be widely circu­

lated among

employees and other

key

stakeholders,

and it should be

used as a

benchmark

when making major

and minor

organizational

decisions.

A number
of benefits flow from
a clear,

succinct, inspiring
and widely shared vision

of success.

9 Employees understand

into

the big picture

expected

of them.

how

and

they

what

fit

is

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