Strategic Planning in the Small Business

HO

1-5 (continued)

Unit 1

Chapter 1 The

Strategic Management Process 5

Figure 1-1 THE FIVE TASKS OF STRATEGIC
MANAGEMENT

TASK 1

TASK 2 TASK 3 TASK 4 TASK

5

Defining the

business and

developing

a

mission

Translating

the mission

into specific

long-range

"Crafting

a

"strategy

Z,to achieve

"the

Implementing

and executing

the strategy

Evaluating

performance,

reviewing the

situation, and

" and. performance

Initiating

• -short-range
  a.bjectives
  corrective

perfcrmance

:adjustments

objectives

Revise as

Revise as Improve'change

Improve change Recycle

to tasks

neeeud needed as

needed as needed 1,2.3.or4as

E E needed

ment broadly outlines the

organization's future course and serves

to communicate

"who

we are, what we do,

and where we're

headed." Some examples

of companY

mission statements are presented

in Illustration Capsule I.

EXAMPLES OF COMPANY MISSICN

STATEMENTS

Presented below are six actual

company mission statements:

MCI Communications

MCI's mission is leadership in the global

telecommunications services

industry.

Public Service Company

of New Mexico

Our mission is to work for the success of

the people we serve by providing

our CUSTOMERS reliable

electric service, energy information,

and en­

ergy options that best satisfy

their needs.

(continued)

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