GMS 401 Lecture Notes - Lecture 1: Itunes Store, Strategic Planning, Starbucks
20 Jan 2020
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Document Summary
Strategic planning is the process of determining long-term plans that will set the direction for an organization, and implementing it through allocation of resources and action plans. Vision: where the organization desires to be in the long-term future. Mission: the fundamental purpose of an organization, concisely describing why it exists and what it does to achieve its vision. Values: shared beliefs of the organization"s stakeholders. Goals and objectives: goals provide substance to the overall mission/vision. An objective is a specific goal containing numerical values. Strategies: plans that determine direction for achieving organizational goals. Tactics: medium-term plans sometimes used as components of a strategy. Action plans: a medium- or short-term project to accomplish a specific objective. mission and vision examples: Microsoft: to help people and business throughout the world to realize their full potential. Verizon: to help people and businesses communicate with each other. Starbucks: to inspire and nurture the human spirit-one cut and one neighborhood at a time.
