Introduction
Visions state the organization’s goals and guide the development of activities that meet the goals (LSDM, 2019). An example of a strategic vision may be “to be the most recognized and respected organization in our sector.”
Stage 2: Assess the Current Position of the Organization
The next step is to conduct a SWOT analysis of the organization. This will help identify internal and external opportunities and threats that may affect the organization’s ability to achieve its objectives.
Stage 3: Development of Priorities and Objectives
After determining the organization’s visions and abilities, the organization’s stakeholders should develop clear priorities and objectives to meet the targets. To achieve this, strategies that focus on leveraging the organization’s strengths and minimizing weaknesses while taking advantage of external opportunities and mitigating threats should be set (Lofgren, 2018). The organization must determine ways of raising capital to finance operations, methods of production, and, marketing of products, and must clearly explain the activities to be prioritized to ensure proper use of the scarce resources.
Stage 4: Definition of Responsibilities
Organizations usually have several activities that must be integrated to ensure success. However, each activity may be separated from the other to ensure maximum production and success. Moreover, each production section should be assigned a leader to oversee and ensure the proper production process. Therefore, the organization must determine tasks and assign responsibilities based on stakeholders’ physical and intellectual abilities.
Conclusion
For the organization’s success, managers and directors should develop criteria for evaluating success. This will ensure that the organization always aligns its operation with its vision and mission. Continuous measurement enables the organization to comprehend its success at every production stage and reduces failure (LSDM, 2019). Furthermore, it enables the organization to spot risks that might hinder success and helps managers develop mitigation strategies to offset the risks.
References
Lofgren, J. (2018). Council Post: How To Immediately Improve Your Strategic Plan. Forbes. Web.
LSDM. (2019). LSDM BA Design – Entrepreneurship – Lesson 6. Www.youtube.com; London School of Design and Marketing. Web.