Read this section to understand the process a business would use to develop and implement a strategic plan.


  1. (AACSB) Reflective Skills

    Without a plan, it's hard to succeed. Successful managers set goals and determine the best ways to reach them. Successful students do the same thing. Develop a strategic plan for succeeding in this course that includes the following steps:

    1. Assess your strengths, weaknesses, opportunities, and threats as they relate to this course.
    2. Establish goals and objectives, or performance targets, to direct all the activities that you'll perform to earn a high grade in this course.
    3. Describe tactical and operational plans for achieving your stated goals and objectives.

  2. (AACSB) Analysis

    If you were the CEO of a large organization, what core values would you want to guide the behavior of your employees? First, assume that you oversee a large company that manufactures and sells medical devices, such as pacemakers, defibrillators, and insulin pumps. Your company was a pioneer in bringing these products to the market. Identify six core values that you would want to guide the behavior of your employees. For each core value, be sure to do the following:

    • Indicate why it's important to the functioning of the organization.
    • Explain how you'll communicate it to your employees and encourage them to embrace it.
    • Outline the approaches that you'll take in holding employees accountable for embracing it.

    Now, repeat the process. This time, however, assume that you're the CEO of a company that rents movies and games at more than eight thousand outlets across the country.