Crafting and executing strategy



Crafting and executing strategy

Importance of strategic plan

The industry chosen for business is American Management Technology (AMT), and it is the business related to Information technology providing software solutions to rental and equipment distribution companies. Being the owner of the company or as a business professional it is necessary to develop and execute a strategic plan which is the foundation for all the company. It is necessary to develop and highlight the importance of a strategic plan in order to make the business successful.

A strategic plan is important for the company because planning is critical to success of the business. Strategic planning is different from the classical planning as it involves different heads such as mission, vision and different goals and objectives that are to be followed. Strategic planning highlights will highlight the fact where American Management Technology is heading.

Through a strategic plan, a series of decisions can be made which shows how the company follows a proper decision and a proper way in order to meet its success. The strategic planning phase is done once a year, by creating a document. A strategic plan guides the upcoming years, and for that companies should strive and struggle to make the strategic thinking an on-going process for the company. Strategic planning is mostly done in order to analyze the shifts and turns in the competitive marketplace and in order to grab the opportunities.

Furthermore, a strategic plan will help analyze how the company may use its resources effectively. Changes in the environment create an opportunity, and in order to grab that opportunity an effective strategic plan will help in dealing with these changes and will provide solutions on how to deal with them. (Hill, 2013)

Mission statement

AMT deals with the work of information technology, and for that they will use the quality vendors that will provide hardware and software support. The mission of the company will be as follows:

AMT is built on the hypothesis that the managing of information technology for business is a lawful advice, accounting and realistic arts in which the prospect is not to d o all of it yourself. People who do not have a computer hobby always need to find vendor with quality hardware, software, examine and support because it needs to use the vendors with quality as they use their other trusted service suppliers. (Bplans, 2013)

This mission will be essential for the company's success in the following ways:

It underlies the purpose of the organization

The mission statement of AMT highlights why the organization is brought into purpose and why it exists. It will also state what the company is doing currently and what it should do in the future and what it should not do. The mission statement is vital to the company's success and will be the basis of achieving its goal.

The action of the employees are guided

Mission statement of the company will help in making the company's goal follow a path and will result in making a final decision for the ...