Strategic Management

Topics: Strategic planning, Strategic management, Strategy Pages: 18 (4092 words) Published: September 22, 2014


Personal Strategic Plan: You, Inc.
GB580: Strategic Management
Dr. Ray Kalinski
Matthew Neitzel
March 20, 2012

Introduction
The purpose of this paper is to create and reflect on a personal strategy plan through envisioning myself as a company, i.e. You Inc. The purpose of creating a personal strategy plan is to position oneself to have the competitive advantage in the market place. In order to have competitive advantage in the market, one must focus on ways to create value for those around, such as companies, the community, and friends and family members. In order to do this one needs to allocate personal resources, determine which services to offer, and decide what industries to focus on (De Kluyver & Pearce, 2011). One way to create a strategy plan is to focus on creating oneself as a blue ocean. In the business environment there are red ocean companies and blue ocean companies. Red ocean companies usually create strategies in order to beat out competition in its industry. Blue oceans, on the other hand, do not try to beat out competition, but rather put energy in market space that makes competition irrelevant. Though this is difficult, in order to create a more beneficial personal strategy plan, one needs to seek out these blue oceans through value innovation by differentiating oneself in order to open up new market space (Kim & Mauborgne, 2005). To create a personal strategy plan we will begin by creating a mission statement, which are the values and purpose of the individual. Next, we will create a vision statement, which includes the long-range goals, core competencies, and competitive positioning. Finally, we will look at the environment by creating a PEST (political, economic, social, and technological) analysis and SWAT (strengths, weaknesses, opportunities, and threats) analysis. Mission Statement

A mission statement is comprised of the values and purpose that helps a person achieve goals. The mission statement can act as an achievement coach by evaluating and describing a person's values that will help the person grow and achieve those goals. In order to achieve the life a person desires a mission statement is a critical first step to achieve future success (Nightingale-Conant, 2011). My personal mission statement is as follows: To help fulfill a successful career, I will focus on seven values. The first value is dependability by having others know that they can rely or depend on me to do what I say I will do. The second value is patience by being tolerant of others actions through understanding that no one is perfect. The third value is trustworthiness by showing others that I can be trusted with personal and confidential information. The fourth value is helpfulness through actively helping others with their wants and needs even if they overshadow my own. The fifth value is being independent by creating a self-reliant environment for not only myself but for those of my family and friends. The sixth value is cheerfulness by being full of good spirits when others are around and having a positive attitude. The seventh value is peacefulness by not being agitated or troubled by conflicts and roadblocks. I need to understand my overall limitations but seek to grow and continue to learn by keeping an open mind. Vision Statement

Vision statements are the long-range goals of an individual or business that describes a person's core competencies that give a person the competitive position is desired to be obtained (De Kluyver & Pearce, 2011). In order to create a personal vision statement, the person needs to envision the future from a few months to a few years from the current moment. With this future self in mind, one can look at what is going on in the present and see the changes that need to take place in order to obtain the future self. The future self must be rooted in the present as it is a part of who you are and what you want to become (Peterkin, 2003). My personal vision statement...

References: Bacal, R. (2011). What is an environmental scan? Retrieved from http://work911.com/planningmaster/faq/scan.htm.
De Kluyver, C
Kim, W.C. & Mauborgne, R. (2005). Blue ocean strategy: How to create uncontested market space and make the competition irrelevant. Boston, MA: Harvard Business School Publishing.
Nightingale-Conant. (2011). What is a personal mission statement? Retrieved from http://www.nightingale.com/tmission_examplestatement.aspx.
Peterkin, C. (2003). Writing your personal vision/mission statement. Retrieved from http://www.selfgrowth.com/articles/Peterkin3.html.
QuickMBA. (2010). The strategy planning process. Retrieved from http://www.quickmba.com/strategy/.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Strategic Management Paper
  • Air BnB Business Analysis Essay
  • Strategic Management Essay
  • Essay on Strategic Management
  • Essay on Strategic Management Assignment
  • Essay about The External Environment ( Strategic Management)
  • Strategic Management and Joint Venture Essay
  • Strategic Management in Dynamic Environments Essay

Become a StudyMode Member

Sign Up - It's Free