Strategy planning is performed so organizations can achieve their ends with a concrete set of procedures

Define Mission, Vision, Values, and Objectives

This step is performed to answer the question: Where do we want to be?

Mission

The mission describes the purpose of organizations, the reason why they exist

A poor understanding of an organization’s mission truncates attempts of a successful strategic planning and an efficient tactical decision-making process. Short-minded missions can lead organizations to their end.

Characteristics

• Short, simple, and precise statement of an organization’s purpose
• Indicates the value proposition offered to customers
• It should be easily understood for the target audience
• It states how the company differentiates from the competitors
• It explains how the business contributes to society through the expected behavior of the people that work in the organization

Vision

The vision describes what the company wants to achieve

It’s a shared image of what the organization is expected to become and be recognized as such. It is expressed in terms of success in the eyes of their customers. It implies an element of noble purpose and high values, something that is considered especially meritorious.

Vision purpose

Why is a Vision necessary?