Destination or vision– where is the business going, and what will it look like and when will it get there?
Mission statement (DNA or culture): how the business will operate on a daily basis and what operational processes will have to be in place in order to achieve the vision. The mission statement also includes how employees will work with other employees and how they will handle the customers.
Goals. What will be the major goals to achieve in order to achieve the vision.
Analysis. Includes understanding the internal business strengths and weaknesses, where it is in the market in relation to competition, size of market, and how the business stacks up against others.
Strategies. Developing an action plan based on the above realities.
Objectives. Short term in nature and shouldn’t be overwhelming in number but are set based on the goals in number 3 above. If they don’t match up, then more work has to be done on the above elements until they do.
Summary and communication. Sharing the plan and objectives with those who are responsible for executing and implementing them
Implementation. The rollout of the plan in an orderly manner
Review. Look at the expectations and review against the actual results. Fix what is necessary and improve on the strengths.