Assume that you are a business owner or business professional, in a company and industry of your...

Question

Assume that you are a business owner or business professional, in a company and industry of your choice, responsible for creating and executing the company’s strategic plan. Write a four to five (4-5) page paper in which you:

Develop an argument supporting the importance of a strategic plan for the success of the defined business.

Create a mission statement for the company explaining how the mission will be essential to the company’s success.

Create a vision statement for the company explaining how the vision statement supports the company’s mission.

Establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business.

Justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.

Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

Recommend effective business strategies based on an analysis of domestic and global operating environments, market dynamics, and internal capabilities.

Use technology and information resources to research issues in strategic management.

Write clearly and concisely about strategic management using proper writing mechanics.

Criteria	Unacceptable Below 70% F	Fair 70-79% C	Proficient 80-89% B	Exemplary 90-100% A
1. Develop an argument supporting the importance of a strategic plan for the success of the defined business. Weight: 15%	Did not submit or incompletely developed an argument supporting the importance of a strategic plan for the success of the defined business.	Partially developed an argument supporting the importance of a strategic plan for the success of the defined business.	Satisfactorily developed an argument supporting the importance of a strategic plan for the success of the defined business.	Thoroughly developed an argument supporting the importance of a strategic plan for the success of the defined business.
2. Create a mission statement for the company explaining how the mission will be essential to the company’s success. Weight: 20%	Did not submit or incompletely created a mission statement for the company explaining how the mission will be essential to the company’s success.	Partially created a mission statement for the company explaining how the mission will be essential to the company’s success.	Satisfactorily created a mission statement for the company explaining how the mission will be essential to the company’s success.	Thoroughly created a mission statement for the company explaining how the mission will be essential to the company’s success.
3.Create a vision statement for the company explaining how the vision statement supports the company’s mission. Weight: 20%	Did not submit or incompletely created a vision statement for the company explaining how the vision statement supports the company’s mission.	Partially created a vision statement for the company explaining how the vision statement supports the company’s mission.	Satisfactorily created a vision statement for the company explaining how the vision statement supports the company’s mission.	Thoroughly created a vision statement for the company explaining how the vision statement supports the company’s mission.
4. Establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business. Weight: 15%	Did not submit or incompletely established five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business; did not submit or incompletely justified why each of these objectives is essential to the success of the business.	Partially established five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business; partially justified why each of these objectives is essential to the success of the business.	Satisfactorily established five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business; satisfactorily justified why each of these objectives is essential to the success of the business.	Thoroughly established five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business; thoroughly justified why each of these objectives is essential to the success of the business.
5. Justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment. Weight: 15%	Did not submit or incompletely justified how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.	Partially justified how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.	Satisfactorily justified how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.	Thoroughly justified how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.
6. 4 references Weight: 5%	No references provided	Does not meet the required number of references; some or all references poor quality choices.	Meets number of required references; all references high quality choices.	Exceeds number of required references; all references high quality choices.
7. Clarity, writing mechanics, and formatting requirements Weight: 10%	More than 6 errors present	5-6 errors present	3-4 errors present	0-2 errors present

Robert · Accepted Answer

Crafting and Executing Strategy
Submitted by 
student’s name
Submitted to 
professor’s name
the course title 
date
Introduction 
 Strategic planning is the long term planning for a company. For the assignment, the 
company that is selected is a  is an IT company. The main services of the company is software 
development and consultancy services. In this assignment the strategic plan for the company is 
developed. The mission statement and the vision statement of the company is created and their 
importance to organizational success is discussed. Then it moves on to identify five key 
objectives for the company encompassing operational, financial, and human resource aspects of 
the business and justify how they support the mission and vision statements of the company and 
how they are essential to the success of the business. 
The importance of a strategic plan for the success of the defined business  
 Strategic planning is important for the IT company because it provides a long term road 
map for the company to strategise and grow its business, attract new customers, retain existing 
customers, gain competitive advantage and increase profitability. Strategic plan also helps in 
enterprise architecture, process improvement, risk management, portfolio management, and any 
other organisation-wide initiatives. To develop and execute a strategy, strategic plan helps in 
integrating and coordinating the organizational functions and processes to ensure effective 
interaction between different elements that can help in generating positive output. The 
effectiveness of the management is reflected in crafting and executing of the strategic plan 
(Thompson, et al., 2008).  
Mission statement for the company  
 The mission statement of a company reflects the purpose for which a company exists 
(Wickman, 1997). The mission statement of the IT company is:  
 “To make technology an asset for our clients through our innovative research and design works 
in an environment of fairness, honesty and courtesy towards the stakeholders and the society at 
large.

Assume that you are a business owner or business professional, in a company and industry of your choice, responsible for creating and executing the company’s strategic plan. Write a four to five (4-5)...

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