Components of a Strategic Plan

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Components of a Strategic Plan

A strategic plan refers to a manuscript that organizations use to relay information concerning its goals, activities, purpose, resources and assumptions. There are several components of a strategic plan including purpose, core values, visions, agenda, project plan, budget, and capital expenditure (Glaser, 2004). Mission statement provides details on the purpose of an organization and its operating system. It indicates the reasons for the existence of a company regardless of timeframe. Core values show principles placed to guide the operation of an organization especially in cases of decision-making.

Strategic plan contains visions, which are a long-term picture of future expectations depending on certain time bound. Project plan gives details of the activities that coordinators and assistance should conduct towards goals achievement. The actions can be long-term or short-term as indicated in the project’s visions (Guillory, 2004).

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