- Organizing: Decide who is going to do each task to complete the company goals.
- Implementing: Directing each task to make sure that are being completed successfully.
- Measuring results
- Diagnosing results
- Taking corrective actions: When a company focus their limits of sales, has an specific correction plan to change the things that are not going well in order to fulfill their goals. Ex: Fire employees.
CORPORATE AND DIVISION STRATEGIC PLANNING
Some corporations give their business units freedom to set their own sales and profit goals and strategies. Others set goals for their business units but let them develop their own strategies. Still others set the goals and participate in developing individual business unit strategies.
All corporate headquarters undertake four planning activities:
1. Defining the corporate mission
2. Establishing strategic business units
3. Assigning resources to each strategic business unit
4. Assessing growth opportunities
1. DEFINING THE CORPORATE MISSION
An organization exists to accomplish something. Organizations develop mission statements to share with managers, employees, and (in many cases) customers. A clear, thoughtful mission statement provides a shared sense of purpose, direction, and opportunity.
Mission statements are at their best when they reflect a vision, an almost “impossible dream” that provides direction for the next 10 to 20 years.
Good mission statements have five major characteristics.
1. They focus on a limited number of goals. The statement “We want to produce the highest- quality products, offer the most service, achieve the widest distribution, and sell at the lowest prices” claims too much.
2. They stress the company’s major policies and values. They narrow the range of individual discretion so employees act consistently on important issues.
3. They define the major competitive spheres within which the company will operate. Summarizes some key competitive dimensions for mission statements.
4. They take a long-term view. Management should change the mission only when it ceases to be relevant.
5. They are as short, memorable, and meaningful as possible. Marketing consultant Guy Kawasaki advocates developing three- to four-word corporate mantras rather than mission statements, like “Enriching Women’s Lives” for Mary Kay.