Strategic plan Essay Example | Topics and Well Written Essays - 250 words

Strategic plan - Essay ExampleIn this case, I will come up with strategies that minimize costs, reduce waste, tuck the market demand and enhance customer satisf run.The other key concept in strategic management is analyzing the formulated strategies. This concept involves strategy formulation, monitoring and effectuation (Jeffs, 2008). In this case, the analysis will involve in-depth external and internal analysis of the weaknesses and strengths of a business. Strategy formulation requires taking a specific course of action that helps meet targeted goals. Strategy implementation requires management to put the formulated strategy into practice (Jeffs, 2008). Finally, strategy monitoring involves the evaluation of the implementation process to achieve the craved results (Jeffs, 2008). In future, I will formulate strategies that facilitate growth, sustainability and expansion of my business. These strategies admit keeping books of accounts and having a focused management. I will impl ement my strategies by acquiring assets, operational machinery, and an efficient workforce. Finally, I will monitor the strategies by having a strong internal control framework. The internal control framework will include having internal audits and effective risk assessment. I will also ensure that I adapt to the dynamic technological changes for quality services and