Components of the Strategic Planning Process

Read these sections, which discuss the strategic planning components and outline the strategic planning process. It's essential to follow the process to write an informed strategic plan. The firm's strategic plan sets the firm's direction, and management and employees must work together to meet the outlined objectives.

2.1 The Value Proposition

Review Questions

  1. What is a value proposition?
  2. You are interviewing for an internship. Create a value proposition for yourself that you may use as your thirty-second "elevator speech" to get the company interested in hiring you or talking to you more.