- Set corporate objectives
- Determine what should be done to accomplish them
- Implement the plan
- Monitor and evaluate the results
Implementing strategy
- Plan what and who is needed where and when
- Setting clear standards
- Organise resources
- Co-ordinate what has to happen
- Ensure right people
- Establish review points
Leadership
- Make clear
- Gain support of other managers
- Ensure resources are in place
- Communication: support from stakeholders and reduces distrust
- Reward and appraisal
- Design systems to review
- Functional
- Product
- Regional
- Matrix
Types of Plan in Business
- Strategic
- Sets out the overall direction for the business in broad scope
- Business
- The actions that a business will take to achieve corporate objectives
- Operational
- Details how each objective is to be achieved
- Specifies what senior management expects from specific departments or functions