Primarily, a BUS357 strategic plan should contain the mission and vision of a company. Furthermore, it is a document that establishes the direction of a company. Also, it can be a single page or a set of pages depending on the size and complexity of the work and business. The process of developing a plan helps managers to step back and examine where they are and where they want to be. Additionally, without a plan, work lacks a sense of purpose and priority. A business is also likely to miss out on new opportunities and stand in the way of its growth.
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THE COMPONENTS OF A BUS357 STRATEGIC PLAN
A BUS356 strategic plan should contain the strengths, weaknesses, opportunities, and threats of a company. Furthermore, it should include an examination of the competitive advantage that puts the company at the front of the field in the market. Additionally, it should include the aspirations, mission, and vision of a company. The mission statement includes the goals that the company wants to accomplish and how it intends to fulfill them. Therefore, it creates a sense of purpose. The core values are also crucial in the strategic plan. They are the vital principles that guide leaders and employees in their daily activities.
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IMPORTANCE OF THE VISION OF A COMPANY
Essentially, the vision of a company provides a foundation upon which to build upon. Also, a vision statement helps to ensure the core goals of the company are apparent. It also ensures that the members of the company understand the values that the vision statement poses. Additionally, the vision creates a sense of purpose and provides a direction for moving forward. Moreover, it is an essential part of a BUS357 strategic plan that serves as a reminder of the purpose and helps to direct actions towards a particular direction.
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