Strategic Planning in the Small Business

Unit 4

Content

Process

A.  Overview

of the class

This unit is designed to

help participants

define their primary goals

over the course of

the

planning horizon.

Upon completion of this

unit, participants

will...

*   be able to

write goal statements.

*   be able to

define Key Result Areas

(KRAs) for each

goal statement.

*   be able to write

measurable and quanti­

fiable objectives

for each KRA.

B.  Goal,

KRAs and Objective

Statements

Before

we continue let's review:

*   The strategic

management process in-

Put up TP 1-2: Basic

Elements in the Stra­

cludes three

components.

tegic Management

Process.

* At this stage of the

process we are for Put

up TP 1-3: Definition

of Strategy

formulating the strategy.

Formulation.

*   Remember we

are developing a strategy

Put up TP 1-11:

Describe 'hie Planning

for the term of

the planning horizon.

Horizon.

Following completion

of the mission state­

ment the planning

team should prepare

one Put up TP 1-19g:

Strategic Planning Pro­

to three goal statements.
cess - Step 7.

These statements
should be specific priori­

ties the business
has established over
the Put up TP 4-1:
Definition of Goals.

course of its planning
horizon. For exam­

ple,
the firm may have goals
related to em­

ployee development,
profitability, succession

planning,
expansion, diversi-fication,
etc.

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