Strategic Plan, Part I: Conceptualizing a Business

Strategic Plan, Part I: Conceptualizing a Business

February 13, 2012

University of Phoenix

Bus475

Kelia Walton

The business I would like to start is a wo-men clothing store Natasha House of Style. This paper will give the layout the first part of the strategic plan for the company. Strategic management is defined as the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives (Pearce & Robinson, 2009). Strategic management can be used to determine mission, vision, values, goals, objectives, roles, and responsibilities and timelines. Whether a firm is developing a new business or reformulating direction for an ongoing business, it must determine the basic goals and philosophies that will shape its strategic posture (Pearce & Robinson, 2009). The layout will give the vision, mission, and values guide the organization’s strategic direction.

The Mission Statement

The mission statement gives the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. The mission statement helps to define the organization objectives, so the mission statement has to strong.

Natasha House of Style is a plus size women clothing store. We will have the latest trends and styles for women who wear a size 12 to 32. The purpose of Natasha House of Style is to make plus size women feel good about themselves and to show them that they are beautiful inside and out.

Vision Statement

Just like the mission statement the vision statement also helps to layout the framework of a company’s strategic planning. A vision statement is like a picture of where you see your business in the future. It will help understand the goals of the business and where do we want the company to go. The vision statement will help to remind all the employees of the company what is being built.

The Vision...