Mgt450 week 4 Discussion 1&2

Text 

Read the followings chapters in: Strategic Management for Organizations:

• Chapter 7: Choosing the Best Strategy 
• Chapter 8: Operational and Budget Planning 
• Chapter 9: Implementation 

Recommended Resources 

 

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Article

1. Fulop, M. (2010, March 15). Facilitating strategic budget plans & resource development [Blog post]. Retrieved from http://facilitationprocess.com/facilitating-strategic-budget-plans-resource-development 

• This is a resource that examines the steps that accompany the strategic budgeting process.

Multimedia

1. Standford University Finance for Entrepreneurship [tonyseba]. (2011, February 2). What is capital budgeting? [Video file]. Retrieved from http://www.youtube.com/watch?v=2zc30NZY_TE 

• This resource provides insight into capital budgeting and how it may impact the strategic planning process. 

Discussions:

1.  Establishing Metrics   

Your text explains why it is important to select the appropriate criteria for strategic planning. Part of this process is establishing metrics to measure the progressive success of the strategic plan. Choose and discuss two metrics that an organization might consider when developing a strategic plan? What are some considerations or criteria that leaders utilize when developing a strategic plan? How might this process work in your current organization or a previous organization? Respond to at least two of your classmates’ posts by Day 3. You must create one initial post and at least two responses, for a minimum of three posts for this discussion.

2.  Mission and Vision Statements

In Weeks Two and Three we examined mission and vision statements. Conduct an internet search to find an organization that lists its mission and vision statement on its website. What do the mission and vision statements communicate? How might the organization use mission and vision statements when establishing goals for the organization? How might this process impact operational planning and the establishment of metrics? Respond to at least two of your classmates’ posts by Day 3. You must create one initial post and at least two responses, for a minimum of three posts for this discussion.

****Please answer all discussions in 250 words are more.