Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

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Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"EXERCISE 31: DESCRIBE ANY ADDITIONAL FIVE-YEAR GOALSUsing one or more of the examples shown in the precedingtext, or based on other five-year goals you may feel areappropriate, document any additional five-year goals in yourbusiness plan (see Appendix B).Page 107What Your Five-Year Goals AchieveYour five-year goals stem from your mission statement and are quantifiable steps toward itsachievement. They are the final strategic element of your plan and form the basis for defining yourtactical annual objectives.End PointWith the development of your strategy—your vision statement, mission statement, and five-year goals—you have now completed the first three elements of your business plan. Your strategy is the long-termunderpinnings of your company or organization. With this roadmap in hand, it's time to develop thenecessary tactics, or short-term activities (annual objectives and action plan), to begin implementingyour strategies. The five-year goals you have just developed will provide an appropriate basis fordeveloping the next plan element, annual objectives, in Chapter 8.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (122 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 109Chapter 8—Define Your TacticsAnnual Objectives and the Action PlanThe end justifies the means.—H. BusenbaumSetting Annual ObjectivesWith the annual objectives and action plan (your tactics) in hand, your company can begin to define themeans that must be undertaken to achieve the end (your strategy). Thefile:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (123 of 219)16.02.2005 13:54:23
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