Creating a strategic plan can be difficult and time consuming, but in the end acts as a guideline for future decisions and conduct relating to the goals, ideals and the execution of the plan. For the most part, a five step process is used to create, implement and monitor a strategic plan. Each step is a crucial part in creating a plan that will be not only utilizable, but also sustainable. A strategic plan is required for companies that would like to excel with their marketing campaign because it is the benchmark for the company’s aspirations. The plan is developed through cooperation between the marketing manager, the marketing team and individuals who occupy different positions within the corporate ladder. While the marketing team may be
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Like a ship sailing out to sea, the strategic vision charts the path for where a company wants to head. It is with this understanding, that marketing managers can make proper decisions regarding the company’s focus. Once a strategic vision has been created, the next step is to create a mission statement. This statement describes the company’s purpose in terms that help to craft a specific company image. Once the previous two items have been constructed, they should go hand in hand with the company’s core values. These core values are important to consumers and the individuals working within the company. For consumers it helps to create a picture of the goal of the company, but for workers it allows them to understand the attitudes, beliefs and behavioral norms held by their employer. (Gamble, Thompson, & Peteraf, 2013) In addition, ethics are also at play within a company’s core values. The ethics help to display what kind of behavior is seen in positive light, and details the corporate culture. Once each of these items is in place, it is easier to understand the company on a …show more content…
Many of these questions are how questions: how can we complete this goal, or how can we work towards this ideal state? (Gamble, Thompson, & Peteraf, 2013) A strategic plan can be created for different levels of the business, be it a corporate strategy that hopes to launch an overarching manoeuvre for a company that has diverse subsidiaries or a business strategy that targets how to strengthen the company’s current market position in relation to their competitors. (Gamble, Thompson, & Peteraf,
Like a ship sailing out to sea, the strategic vision charts the path for where a company wants to head. It is with this understanding, that marketing managers can make proper decisions regarding the company’s focus. Once a strategic vision has been created, the next step is to create a mission statement. This statement describes the company’s purpose in terms that help to craft a specific company image. Once the previous two items have been constructed, they should go hand in hand with the company’s core values. These core values are important to consumers and the individuals working within the company. For consumers it helps to create a picture of the goal of the company, but for workers it allows them to understand the attitudes, beliefs and behavioral norms held by their employer. (Gamble, Thompson, & Peteraf, 2013) In addition, ethics are also at play within a company’s core values. The ethics help to display what kind of behavior is seen in positive light, and details the corporate culture. Once each of these items is in place, it is easier to understand the company on a …show more content…
Many of these questions are how questions: how can we complete this goal, or how can we work towards this ideal state? (Gamble, Thompson, & Peteraf, 2013) A strategic plan can be created for different levels of the business, be it a corporate strategy that hopes to launch an overarching manoeuvre for a company that has diverse subsidiaries or a business strategy that targets how to strengthen the company’s current market position in relation to their competitors. (Gamble, Thompson, & Peteraf,