Most of CanGo’s success has simply happened by chance and no formal analysis has been conducted of the business which should be performed to point out certain aspects that may not be apparent to you. CanGo has no strategic plan to clearly identify what exactly your market will be, who your clientele base is and how to go about being a leader in their industry. A strategic plan is nothing more than a structured process that organizes and coordinates the activities of the managers who do the planning (hbr, 2012) and it encourages CanGo to answer the fundamental questions: Where do we plan to be X years from now, how to get there, what the cost will be? In thinking of the future, CanGo is at a crossroads and needs to understand the importance of creating a strategic plan for the company. Elizabeth should meet with the board of directors to discuss their thoughts as to the company’s objectives and strategy.
As previously mentioned and a key component of formulating a strategic plan includes the need for both a Mission and a Vision statement. The mission statement should clearly define the company’s purpose and objective. It provides everyone the opportunity of knowing what the company is about and helps pull the company together towards a cohesive goal. Furthermore, the strategic planning process enhances the company’s understanding of who their clients are. Being that CanGo has an extensive customer list, CanGo can request your... [continues]
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