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The importance of strategic planning for business success

Question:

Discuss about the Strategic Plan is Sanlem Industries.

Due to the growing number of companies, the strategic planning of the company will be vital to the business success or otherwise. It is in the five year strategic planning that the company will be able to forge for a prosperous future. The name of the company is Sanlem industries a leading technological service provider in the country. With the growth of technological services, the better the strategic plan, the more the company will last.

The vision

To be a leading company in service provision and to better the livelihood of the people through our products

The mission

To have increasingly important contribution to economies and in the well-being of its inhabitants, as large companies gain in volume of production and the places of employment generated in the country. Likewise, companies in these categories have been increasing their share in the number of jobs in the country, in production, in the Gross Domestic Product and in exports

The goals

In order to carry out the planning of their business, entrepreneurs have some resources external to the company. The entities that can assist entrepreneurs in their planning processes are of two types: institutions whose objective is to promote the creation and development of companies and private companies engaged in consulting activities, for commercial purposes. However, there is a gap in resources that allow them to carry out their own planning processes (Undertake business planning, 2007).

The model begins with the interaction between the various elements of the formulation of the strategy, from the recognition of non-economic responsibility to society, the personal values ??of managers, the resources of the company and the identification of opportunities and risks. The definition of corporate strategy is framed within the purposes and policies that define your company and its field of action.

The processes defined in the development of the strategy involve the consideration of the elements of the environment, the opportunities and the risks, the capacities of the organization, the corporate resources and the competencies, so as to identify the best match between the opportunities and the resources. As a technological company, the services offered to the country are the broadband technology and voice services.

Goals, Milestones, strategies

Goals and Milestones

Once the strategy is defined, it is necessary to carry out the implementation of the model, taking the necessary actions to achieve the defined results. Within this implementation are taken into account the structure and relationships within the organization, the organizational processes and behaviors and the leadership required to achieve the results. It is the steps defined above, a basic structure for the development of the strategy and its corresponding execution plans can be designed.

The structure of the model developed takes into account not only the factors stated above, but also the way in which the employer must define his policies and action plans and their measurement.

Starting from the conceptual model, the structure of the tool was defined. This has a text that serves as a body to the plan that the entrepreneur is developing as he follows the steps indicated in the planning process and, as he moves forward in the planning steps, the entrepreneur finds hyperlinks that take him to the pages that Contain the conceptual explanations and the aids that have been included and allow the understanding and application of the elements of the plan (Rotha?rmel, 2017). In a first stage the concept of mission and the evaluation of the factors external to the company, that is to say, the environment and the competitors, are developed. Within this same module the strategic analysis takes place until it reaches the financial and non-financial objectives of the business.

The vision and mission of Sanlem Industries

With a very good department of marketing, Sanlem will make a five year marketing plan to grow its revenue while broadcasting and advertising its products and services as the best. Next, the process of defining the basic business strategies is studied. Once these are defined, the basic plans for the execution of the strategies, ie the marketing plan, the operational plan, the execution plan and the financial plan, are specified. The latter is the expression, in figures, of how the business will meet its plans and achieve the objectives that have been defined.

Sales

Projected sales for the fine years are as follows;

Year       amount in dollars

2017             123 M

2018             141 M

2019             161.5 M

2020             172 M

2021             200 M

The model developed represents a contribution to enable small and medium entrepreneurs to improve their planning processes.

Microenterprises and small and medium-sized enterprises, generally known as SMEs, have become increasingly important both in their contribution to Colombia's economy and the well-being of its inhabitants, as large companies In the volume of production and the places of employment generated in the country.

The current trend in the world is towards a gradual decrease in the total dependence that individuals had in the past of their employment. In developed countries it is observed how, more and more, people seek to generate their own sources of work. Similarly, small and medium-sized enterprises can become a powerful engine of the economy if they manage to develop and become competitive in the globalized environment in which they must move (Rotha?rmel, 2017).

The industry is very competitive and it would be in order. In order to carry out the planning of their business, entrepreneurs have some resources external to the company. In addition, it would be important for them to rely on others they can use without requiring the monitoring or assistance of external persons or entities.

In fact entrepreneurs can find a series of aids by specialized entities. These entities are of two types, institutions whose objective is to promote the creation and development of companies, and private companies engaged in consulting activities, for commercial purposes. However, there is a gap in resources that allow them to carry out their own planning processes (Gevurtz, & Gevurtz, n.d.).

Within the available external resources, they are counted:

Institutional

        Business Development Centers of the universities.

        Business Development Centers of the Chambers of Commerce.

        Proexport Expopymes Program.

        Non-governmental organizations, such as Ficitec or Fundes.

        Incubators of companies.

Commercial: Consulting companies.

The resources for use within the company with which entrepreneurs could count are:

    Models of business plans available via the internet.

    Specialized software.

    Books and publications.

In making an evaluation of the possibilities that entrepreneurs have in the categories listed above, the following conclusions are obtained:

Models via internet

    Most of them are focused on the search for resources and, to a much lesser extent, on planning (they are oriented towards presenting the plan to venture capitalists).

    Available models are usually in English.

The goals of Sanlem Industries

    By their nature, they are insufficient in tools and aid.

    They do not include key issues for Colombian entrepreneurs (for example, those related to exports).

    Do not consider the Colombian reality

    In terms of terminology

    In the legal, tax, accounting aspects.

    As for the business environment.

Specialized software. Palo Alto Software's Business Plan Pro 4.0 is the only specialized software to aid in the development of business plans.

The language in which the software is located is English.

The software has good content in terms of explanations and structure, but is insufficient in tools and aids.

It does not consider the Colombian reality.

Conceptual Model

The model illustrated in Figurebegins with the interaction between the various elements of strategy formulation, from the recognition of non-economic accountability to society, the personal values of managers, company resources and the identification of Opportunities and risks.

The processes defined therein involve consideration of the elements of the environment, opportunities and risks, organizational capabilities, corporate resources and competencies, so as to identify the best match between opportunities and resources.

Once the strategy is defined, it is necessary to carry out the implementation of the model by executing the actions to achieve the defined results. Within this implementation are taken into account the structure and relationships within the organization, the organizational processes and behaviors and the leadership required to achieve the results. Figure 7 shows the processes related to planning that are part of the implementation.

n advancing the steps of planning, the entrepreneur finds hyperlinks that take him to the pages that contain the conceptual explanations and the aids that have been included and allow him the understanding and application of the elements of the plan (Gevurtz, & Gevurtz, n.d.).

In a first stage the concept of mission and the evaluation of the factors external to the company, that is to say, the environment and the competitors, are developed.

Within this same module the strategic analysis is carried out until it reaches the financial and non-financial objectives of the business.

The process of defining the basic business strategies is discussed below. Once these are defined, the basic plans for the execution of the strategies, ie the marketing plan, the operational plan, the execution plan and the financial plan, are specified. The latter is the expression, in figures, of how the business will meet its plans and achieve the objectives that have been defined.

Conclusions

The model developed represents a contribution to enable small and medium Colombian entrepreneurs to improve their planning processes.

Taking into account that a real entrepreneur participated in the development of the model, using it in the planning of his company, providing the author with feedback on the ease of use and making suggestions on how to make the model more practical are listed below some your comments:

It is a model that allows analyzing and taking into account important variables for business development. Variables that without an easy-to-understand, well-structured guide would be ignored or not given the importance they have.

It gives a clear, broad and forceful vision about the whole business, allowing creating a detailed action plan for all the functions of the company."

Allows budgeting and control of the company

Some of the entities that can serve as channels for this purpose are guilds, in particular and business incubators (Birkinshaw, 2004).

The model can be used as it stands at present, in the form of files connected through hyperlinks. To further facilitate its use, it would be desirable to develop dedicated software that integrates all the word processing and spreadsheet functions that are required for the defined planning process

References

Birkinshaw, J. (2004). Strategic management. Northampton, MA: Edward Elgar Pub.

Event planning business. (2015). [New York].

Gevurtz, F., & Gevurtz, F. Business planning.

McKeever, M. How to write a business plan.

Rotha?rmel, F. (2017). Strategic management. New York, NY: McGraw-Hill Education.

Undertake business planning. (2007). Cottesloe, W.A

Cite This Work

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My Assignment Help. (2018). Strategic Planning For Sanlem Industries: Vision, Mission And Goals. Retrieved from https://myassignmenthelp.com/free-samples/strategic-plan-is-sanlem-industries.

"Strategic Planning For Sanlem Industries: Vision, Mission And Goals." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/strategic-plan-is-sanlem-industries.

My Assignment Help (2018) Strategic Planning For Sanlem Industries: Vision, Mission And Goals [Online]. Available from: https://myassignmenthelp.com/free-samples/strategic-plan-is-sanlem-industries
[Accessed 02 March 2024].

My Assignment Help. 'Strategic Planning For Sanlem Industries: Vision, Mission And Goals' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/strategic-plan-is-sanlem-industries> accessed 02 March 2024.

My Assignment Help. Strategic Planning For Sanlem Industries: Vision, Mission And Goals [Internet]. My Assignment Help. 2018 [cited 02 March 2024]. Available from: https://myassignmenthelp.com/free-samples/strategic-plan-is-sanlem-industries.

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