Examination should include

• development of vision and mission statements
• setting of performance goals and objectives
• review of previous performance (e.g., productivity, profit)
• evaluation of current assets
• formulation of strategic and operational plans
• use of planning tools (e.g., market research, budget analysis, decision-making models, competitive analyses)
• determination of human, natural, technology, and capital resource needs
• forecasting of trends
• anticipation of changes in the business climate (e.g., economic factors, laws, regulations, taxes)
• anticipation of and compensation for organizational and industry risk.

Process/Skill Questions:

• Where can you find examples of strategic plans that align with a business or industry in your area of interest?
• What lessons can you learn by comparing successful and unsuccessful businesses?
• What might be some consequences of inadequate business planning?

Suggested Learning Activities:

Planning Elements: An Organization's Values

Objective: Examine the influence of values-based behaviors on performance, productivity, and relationships.

Materials: Worksheet for each student, An Organization's Values, and Teacher Notes

Planning Elements: The Power of Vision and Mission

Objective: Describe the importance that vision and mission statements have for organizations.

Materials: Worksheet for each student, The Power of Vision and Mission, and Teacher Notes