Develop a basic strategic plan for your virtual organization

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Reference no: EM132167870

Individual Project

General Information:

Your project is to develop a basic Strategic Plan for your virtual(or real) organization.

Strategic Plan Phases

General Information:

1. I have set up 5 Phases of the project in order to help drive you through the project. There are no interim reporting requirements except for Phase V which requires the submission of the completed Strategic Plan.

2. Each student must develop a "process" for getting the required work done in time to meet the project deadline. One method is to use "backward" planning to develop a time-line.

3. The key is to START EARLY. The Project is due on or before November 20th, starting early will give you a better chance to develop a project that will earn a high gradeand help your GPA for the course.

4. Chapter 5& 6, Planning and Decision Making and Organizational Strategy, are a good source for the project. Plus there are some excellent resources listed in the endnotes in those chapters on various aspects of strategic planning. Also review the website listed on our Course Moodle Website for Strategic Planning it is an excellent source.

Phase I

• Decide on the type of business you will run/start(use common job or life experiences with this decision).

• Using the information found in Chapter 5& 6, determine what your overall Business Strategy will be for your business(for example, Diversification of goods and services).

Phase II

• Develop a Vision for your business.

• Develop a Mission Statement for your business.

Phase III

• Conduct an internal and external audit (SWOT Analysis) for your business. A minimum of six elements for each part of the SWOT analysis.

Phase IV

• Establish major goals/objectives for your business(in line with your overall business strategy).

• Develop "action plans" to meet the above goals/objectives. Plan should include the activity, responsibility, and time-line.

Phase V

• Review all previous Phase work to ensure you have completed the work.

• Submit a completed Strategic Plan for your business in Moodle, under the project link. As a minimum your plan should include: (a) Name and type of business, overall business strategy. (b) Vision, Mission Statement, SWOT Analysis, Goals and Objectives, and Action Plans.

Reference no: EM132167870

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