business strategy

Strategic planning has its own language
Gerald Graham
Everyone, it seems, engages in strategic planning. For some organizations, the strategic plan provides zest and vigor; for others it is just a big yawn. What is the difference?


Strategic planning is nothing more than first, deciding what you want to become; second, deciding how you will get there, and third, allocating resources to achieve your desires.

Like most important processes, though, strategic planning has its own language. For instance, a mission statement is a statement of the organization's purpose. It answers the question, "Why do you exist?" or "What business are you in?"

A vision statement is a word picture of what you want to become. Vision statements should excite and challenge both leaders and employees. Effectual mission and vision statements are brief.

A SWOT Analysis, (SWOT is an acronym for strengths, weaknesses, opportunities and threats) takes a bitingly critical look at where your organiz...