Reference no: EM132691219

BUS409 Strategic Management - Emirates College of Technology

Create Your Strategic Plan

I. Project instructions

1. Title page - This should include the project title and names of all group members. You can also list the name of your teacher.

2. Appendix and Bibliography - Use appendices to contain information which is peripheral to the main body of the report. Document the data collected from a text book, a magazine, or a website identifying its sources while using the appropriate form.
3. Group members-You are requested to join a student group; each group consists of 2-4 students. Each group should work independently of the other groups.
4. Project Submission-Moodle: in addition to the hard copy, students should submit written reports in soft copy through the Moodle system.
5. Project presentation: each group requested to give a short presentation about the project, and each member of the group should participate in the presentation.

II. Guide to writing a Strategic Plan

Step One - Getting Ready
Determine an organization that you act in as a strategic planner and develop a business model with a sustainable competitive advantage and develop a strategic plan that can help you to outperform your competitors.
• Develop an organizational profile.
• Identify specific issues or choices that the planning process should address.
• Identify the information that must be collected to help make sound decisions.

Step Two - Articulating Vision & Mission
• A Vision Statement outlines what the organization wants to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria.
• A Mission Statement tells you the fundamental purpose of the organization. It concentrates on the present. It defines the customer and the critical processes.

Step Three - Assessing the Situation
Situation assessment means obtaining current information about the organization's strengths, weaknesses, opportunities and threats, which are information that will highlight the critical issues that the organization faces and that its strategic plan must address.

Step Four - Developing Strategies, Goals, and Objectives
Once an organization's mission has been affirmed and its critical issues identified, it is time to figure out what to do about them: the broad approaches to be taken (strategies) and the general and specific results to be sought (the goals and objectives).

Step Five - Completing the Written Plan
The vision and mission has been articulated, the critical issues identified, and the goals and strategies agreed upon. This step essentially involves putting all that down on paper