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Question 1 – Evaluating Strategic Plans – Respond to the following in a minimum of 175 words:
- In strategic planning, what components would you consider necessary for creating a strategic plan?
- Using your chosen company for this course, explain what components they use and whether they do a good job of communicating their plan to their workforce.
Let’s start by taking a look at a real-world, real-organization’s strategic plan: (linked) for the U.S. Department of Veterans Affairs (VA).
On that page, click on “Access the Strategic Plan.” Certainly don’t read the entire document (now); it’s 230 pages.
But, notice the contents. It lists key components that mirror (or come close) to many of the ones we have been studying :
- Core Values
- Objectives
- Goals
- Stakeholder Consultation (Communication)
- Click on the “Strategic Planning Process” and note those main components in a chart format
- Below that chart is “Environmental Scan” which is the same as a SWOT.
- Gap analysis forms the basis for Contingency Planning
Note: The historical photograph on page 1 of the plan document (page 6 of the PDF) from 1862 is interesting to look at if you have never seen it before of Abraham Lincoln meeting with soldiers. That page also includes the VA’s mission statement.
- Keeping in mind the aspects of planning, leading, organizing, and controlling, explain how you would evaluate the effectiveness of a strategic plan.
- What do you think is the most important piece of information to consider when determining effectiveness? Why?
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