Examine aspects of planning within an industry/organization.
Examination should include
- development of vision and mission statements
- setting of performance goals and objectives
- review of previous performance (e.g., productivity, profit)
- evaluation of current assets
- formulation of strategic and operational plans
- use of planning tools (e.g., market research, budget analysis, decision-making models, competitive analyses)
- determination of human, natural, technology, and capital resource needs
- forecasting of trends
- anticipation of changes in the business climate (e.g., economic factors, laws, regulations, taxes)
- anticipation of and compensation for organizational and industry risk.
Process/Skill Questions:
- Where can you find examples of strategic plans that align with a business or industry in your area of interest?
- What lessons can you learn by comparing successful and unsuccessful businesses?
- What might be some consequences of inadequate business planning?
Suggested Learning Activities:
Planning Elements: An Organization's Values
Objective: Examine the influence of values-based behaviors on performance, productivity, and relationships.
Materials: Worksheet for each student, An Organization's Values, Download An Organization's Values, and Teacher Notes Download Teacher Notes
Planning Elements: The Power of Vision and Mission
Objective: Describe the importance that vision and mission statements have for organizations.
Materials: Worksheet for each student, The Power of Vision and Mission, Download The Power of Vision and Mission, and Teacher Notes Download Teacher Notes