I will go into movies as an actor, producer and eventually director. By 32, I will have been invited to the White House.
By the time I am 30 I will have starred in first movie and I will be a millionaire...... Attributed to Arnold Schwarzenegger who was elected Governor of the State of California in 2003.
This then leads to strategy development covering the following issues discussed in more detail below: for the business.
This should be presented as a pen picture of the business in three or more years time in terms of its likely physical appearance, size, activities, structure, scale offerings etc.
If planning for a startup, base the mission statement on the business as it would be once operational - be realistic and practical rather than aspirational.
For example, "to design, develop, manufacture and market specific product lines for sale on the basis of certain features to meet the identified needs of specified customer groups via certain distribution channels in particular geographic areas".The company will engage in research, development, and manufacture and sales of integrated electronic structures to fulfill the needs of electronic systems manufacturers.This will include thin films, thick films, semiconductor devices, and .........A variety of processes will be established, both at a laboratory and production level ......as well as the development and manufacture of special processing and test equipment required to carry out these processes. Principal customers for these products are expected to be the manufacturers of advanced electronic systems .....Our customer support strategy is based upon total, no-compromise customer satisfaction and we continually strive to offer a complete package of up-to-date value added solutions to meet our customers' needs.We value above all our long term customer relations.A satisfactory strategic plan must be realistic and attainable so as to allow managers and entrepreneurs to think strategically and act operationally - see Devising Business Strategies for further insights.A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition.Some essential points which should to be observed during the review and planning process include the following: As the precursor to developing a strategic plan, it is desirable to clearly identify the current status, objectives and strategies of an existing business or the latest thinking in respect of a new venture.Correctly defined, these can be used as the basis for a critical examination to probe existing or perceived Strengths, Weaknesses, Threats and Opportunities.