Examine aspects of planning within an industry/organization.
DefinitionExamination 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.
- 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?
Related Standards of Learning
History and Social Science
The student will apply social science skills to understand that in a democratic republic, thoughtful and effective participation in civic life is characterized by
- exercising personal character traits such as trustworthiness, responsibility, and honesty;
- obeying the law and paying taxes;
- serving as a juror;
- participating in the political process and voting in local, state, and national elections;
- performing public service;
- keeping informed about current issues;
- respecting differing opinions and the rights of others;
- practicing personal and fiscal responsibility;
- demonstrating the knowledge, skills, and attitudes that foster the responsible and respectful use of digital media; and
- practicing patriotism.