Vision, Goal, Objectives, and Strategy

strategicplanmodel

  • An organization establishes goals that will move it towards its vision.
  • These goals will have objectives that are measures of goal achievement.
  • Strategies are developed for how the goals will be achieved.
  • Theses strategies direct the execution of work intended to achieve the goals.
  • Organizational strategy is a plan that describes how the organization’s strengths and core competencies will be used to:
    • Manage resources effectively;
    • Manage stakeholder value;
    • Capitalize on opportunities;
    • Minimize the impact of threats;
    • Respond to changes in the market, legal, and regulatory environments; and
    • Reinforce focus on critical operational activities.
  • Business value is defined as the entire value of the business – the total sum of all tangible and intangible elements.
  • ¬†References
    • The Standard for Portfolio Management

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