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Principles For Understanding The Strategic Planning Process
Summary of Strategic Planning
Quality management literature review
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In this strategic plan analysis paper, the writer will be evaluating their organizations mission, vision, goals, and objectives. Next the writer will discuss the relationship between quality and the management style of their organization and an organization that has adopted a TQM style of management. The writer will then move on to discuss the characteristics of the other organization TQM style and compare those characteristic’s to their own organization. Finally, the writer will briefly touch upon the organization practices that could be integrated into their own organization.
Company Background
Swift Transportation Company Inc (Swift) began operations in 1966 by the Moyes family. The original operation was conducted under the name of Common Market. Operating authority was purchased from a descendant of the Swift Meat Packing family, hence, today’s name of Swift Transportation. By 1984, Swift had annual revenue was in excess of $25 million. By 1990, with the passing of Jerry Moyes father and business partner Carl Moyes, Jerry became sole owner. Since 1988 Swift has acquired 11 different motor carriers (Swift Transportation Co. Inc., 1995-2006).
Today, Swift generates over $2.5 billion in annual revenue and operates over 20,000 trucks. Swift’s terminal network has grown to 40 full-service facilities in the continental United States and Mexico. Swift also offers border crossing services to all major Mexican border crossings and many Canadian provinces. Swift is unquestionably the largest truckload motor carrier in the world. Swift’s significant revenue growth is attributable to internal growth with existing customers, as well as acquisition of external motor carriers (Swift Transportation Co. Inc., 1995-2006).
Mission, Vision, Goals/Objectives
Vision
Swifts vision statement is brief and to the point. It states, “Swift will achieve excellence through Total Quality Management, profit improvement, innovation, advanced technology, and communication” (Swift Transportation CO. Inc, 2007, p. 4).
There are several fundamental components of a vision statement.
First, your vision must encompass your beliefs. Second, your beliefs must meet your organizational goals as well as community goals. Third, your beliefs are a statement of your values and a public/visible declaration of your expected outcomes, Four, your beliefs must be precise and practical and guide the actions of all involved. Fifth, your beliefs reflect the knowledge, philosophy, and actions of all. And finally, your beliefs are a key component of strategic planning. (National School Boards Association, 2007).
Swifts vision statement encompasses many of the necessary components of a good vision statement. It is the opinion of the writer of this paper that Swift has covered all the essential components that a good vision requires to be an affect part of the company’s strategic plan.
Both, vision and mission statements provide purpose to organizations. Therefore, they should set the foundation for the strategic planning process. However, if and organizations strategic direction evolves, leaders should consider revising the organization’s mission and vision
Background Information In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.
How to Create Mission and Vision Statements: Examples and Guidance. (2011, June 21). Retrieved February 20, 2014, from https://www.youtube.com/watch?v=HLVlZwkZGt4&feature=player_embedded
After analyzing the Coastal Medical Center, it is apparent that the employees and staff have no conception of the mission, vision, and values of this health care facility. In addition to this lack of structure, CMC has many projects in the midst of production that lack support of a common goal, employees are unsatisfied with their jobs, the two boards lack ability to agree on strategic decisions for the organization,, and the medical center has a dismal reputation when it comes to quality care.
Any successful organization in in the 21st century should have a mission and a vision. When an organization has a foundation and a purpose for existence, they will have the basic qualities of a successful establishment. To follow through with a mission, a vision must be created. A vision is based off of a company’s purpose for existence and formation of long-term goals. Without goals, an organization has nothing to work for and no reason to become successful. While working at Safeway, I was aware of the mission of the company and the vision that the company had.
The North American transport system is run by several different agencies, each one having its own important part in making it all run smoothly and efficiently . There are also several policies that have been put in place to keep the transportation system working for the good of everyone. The agencies involved keep very good records of all the types of transportation that make up the system, which makes it easy for anyone to be able to see all the different statistics associated with the system. The Freight broker business is another important part of the transportation system, the following paragraphs will tell how all these things work together.
Organization without vision/mission could be seen as organization without purpose. A company’s mission statement is a short sentence that details the company’s identity, core values, and its business goals and philosophies; the mission communicates the company’s purpose and values (Angelica, 2011). Where there is no vision, there is simply no direction. It is the company’s vision that helps the employees to stays on track in making every moment productive. In essence, vision and mission statement of the organization/company could be seen as the blueprint that details its operations. Wells Fargo’s vision is set to satisfy its customers’ financial needs and help them to succeed financially. Thus, Wells Fargo’s vision gives the company sense of direction which consequently results in how its employees better serves its customers (Wells Fargo, n.d.). This is why it is important for company to craft effective mission and vision statement that could help organization growth.
“The “vision thing” is still with us, but while leaders insist in having a compelling vision, the fact is that many – both the leaders and the visions – leave people standing still, unmoved. A leader who engages stakeholders when developing a vision will, in the end, articulate one that resonates strongly and impels people to act”. (Gandz, 2009). Once the vision statement is created Orange Industries’ effective leadership will propose a plan on how they must execute. This could be described in a mission statement and measured and reviewed at semi-annually
While the revised vision statement expressed “what” the company was planning to achieve, however, the company did not identify the connection for employees with “how” (Coate, 2014). The biggest issues lay in the fact that, the current vision statement is not known throughout the organization (H&R Block, Inc.
Overview: Swift Transportation Company (NYSE: SWFT) is a national leader in transportation services. Headquartered in Phoenix, Arizona, SWFT was founded in 1966 and did an initial public offering in 1990(1). The company operates a fleet consisting of over 16,000 tractor-trailer trucks and 50,000 trailers. Its 22,000 employees help service 40 key terminal freight hubs across the United States and Mexico (Figure 1)(2). Products / Service Description: SWFT identifies four main operating segments: truckload, dedicated, refrigerated, and intermodal(3).
The statement is unique and reflects its company’s culture. Amazon is simple, short, and direct. The vision tells you exactly what the company wants to create. Apple’s vision statement is longer and describes the company’s values; it’s Apple’s DNA.
An organization must use a strategic marketing process to distribute its marketing mix resources to reach its target markets. The elements of a proper marketing mix are price, product, place, and promotion. They are the four P’s of the marketing process (Goi, 2009)
As a leader, whether of a “Fortune 500” company or simply a manager of a local “mom and pop” store, it is important to have a clear idea of what the vision and main priorities of the company you are working for are. We have discussed the creation of a vision statement a lot in class. This statement should be focused and well known by both you and your employees. A vision statement is meant to clearly communicate both the purpose and the values of the organization. For employees, it should give direction about how they are expected to behave and also inspire them to give their best. When the vision statement is shared with customers, it helps to shape their understanding of why they should work with your organization. Defining a short, concise list of your company’s main priorities is also a very important task. As Kaplan...
This vision statement effectively communicates JPMorgan Chase & Co values, purpose, identity and primary business goals.
Strategic planning is an organizational process in which it looks towards developing and sustaining success or balance in its ever changing environment.