In strategic planning, what components would you consider necessary for creating a strategic plan? Using your chosen company for this course, explain what components they use an

Question 1 – Evaluating Strategic Plans – Respond to the following in a minimum of 175 words: 

• In strategic planning, what components would you consider necessary for creating a strategic plan?
• Using your chosen company for this course, explain what components they use and whether they do a good job of communicating their plan to their workforce.

Let's start by taking a look at a real-world, real-organization's strategic plan: STRATEGIC PLAN (linked) for the U.S. Department of Veterans Affairs (VA).

On that page, click on "Access the Strategic Plan." Certainly don't read the entire document (now); it's 230 pages.

But, notice the contents. It lists key components that mirror (or come close) to many of the ones we have been studying :

• Core Values
• Objectives
• Goals
• Stakeholder Consultation (Communication)
• Click on the "Strategic Planning Process" and note those main components in a chart format
• Below that chart is "Environmental Scan" which is the same as a SWOT.
• Gap analysis forms the basis for Contingency Planning

Note: The historical photograph on page 1 of the plan document (page 6 of the PDF) from 1862 is interesting to look at if you have never seen it before of Abraham Lincoln meeting with soldiers. That page also includes the VA's mission statement.

Question 2 – Respond to the following in a minimum of 175 words: 

• Keeping in mind the aspects of planning, leading, organizing, and controlling, explain how you would evaluate the effectiveness of a strategic plan.
• What do you think is the most important piece of information to consider when determining effectiveness? Why?