NURS 6241  Assignment Identifying a Strategic Plan Issue

NURS 6241  Assignment Identifying a Strategic Plan Issue

NURS 6241  Assignment Identifying a Strategic Plan Issue

 

To Prepare:

Consider any feedback you received from your Instructor and colleagues during this week’s Discussion.

If appropriate, refine your focus to clarify the strategic plan issue. Conduct additional research as necessary to support your proposed plan.

Use the Strategic Plan Issue Template, provided in this week’s Learning Resources, to draft your Assignment.

Submit your proposed strategic plan issue for Instructor approval using the Strategic Plan Issue Template provided in this week’s Learning Resources.

Note: Your Instructor will need to approve your topic/need before you proceed with your Strategic Plan.

Submission and Grading Information

To submit your completed Assignment for review and grading, do the following:

Please save your Assignment using the naming convention “MD1Assgn+last name+first initial.(extension)” as the name.

Click the Module 1 Assignment Rubric to review the Grading Criteria for the Assignment.

Click the Module 1 Assignment link. You will also be able to “View Rubric” for grading criteria from this area.

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Next, from the Attach File area, click on the Browse My Computer button. Find the document you saved as “MD1Assgn+last name+first initial.(extension)” and click Open.

If applicable: From the Plagiarism Tools area, click the checkbox for I agree to submit my paper(s) to the Global Reference Database.

Click on the Submit button to complete your submission.

Growing a business means taking many decisions about the way you want to expand your operations. Creating a strategic plan is a key component of planning for growth. It will help you prepare a realistic vision for the future of your business and in doing so can maximise your business’ potential for growth.

A strategic plan should not be confused with a business plan. A business plan is about setting short- or mid-term goals and defining the steps necessary to achieve them. A strategic plan is typically focused on a business’ mid- to long-term goals and explains the basic strategies for achieving them.

This guide sets out the basics of the strategic planning process. It explains how to go about drawing up a strategic plan, it highlights some important issues to bear in mind and it shows how to turn from planning to implementation.

The purpose of strategic planning

The purpose of strategic planning is to set your overall goals for your business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your business is headed and what its priorities should be.

Why strategic planning matters more to growing businesses

Taking the decision actively to grow a business means embracing the risks that come with growth. Spending time on identifying exactly where you want to take your business – and how you will get there – should help you reduce and manage those risks.

As your business becomes larger and more complex, so strategy formulation will need to become more sophisticated, both to sustain growth and to help you muster the leadership and resources you need to keep your business developing.

To do this, you will also need to start collecting and analysing a wider range of information about your business – both about how it operates internally and about how conditions are developing in your current and potential markets.

The difference between strategic planning and writing a business plan

The process of strategic planning is about determining the direction in which you want to take your business. It involves setting out your overall goals for your business. By contrast, the purpose of the business plan is to provide the detailed roadmap that will take you in your desired direction.

Your strategic planning and your business planning should be complementary, but effective strategy development requires you to shift your focus from the day-to-day concerns of your business and to consider your broader and longer-term options.