The “business plan” documents the Company’s direction.
- The Mission Statement is a brief description of what your company is striving to become or achieve; for example:
- EXAMPLE COMPANY, is committed to calculated, responsible achievement of its goals while providing its clients high quality work through ethical business practices and providing its employees a safe, healthy, rewarding and enjoyable work environment.
- The Value Statement is a brief description of the core principles that drive your business decisions; for example:
- In the pursuit of its mission, EXAMPLE COMPANY holds true to its values of safety, quality, customer service and integrity.
- Issues are those vital matters that must be addressed to fulfill the Mission; for example:
- Because we often subcontract work, the timing of the payments we receive for it leaves us short on cash.
- Objectives are those vital goals that must be accomplished to fulfill the Mission; for example:
- We will manage cash flow in the next year such that we require no more than a $1M credit line while keeping all of our A/P current.
- Strategies are those careful methods of achievement required to accomplish the stated Objectives; for example:
- We will bid more highway work and front load our prices to accelerate cash receipts.
- The Action Plan establishes exactly how a strategy will be executed by identifying the activities that must be undertaken, their timing and order; for example:
- Hire a dedicated highway estimator this month.
- Tasks are just that, small activities that must be accomplished day-to-day to implement the plan, along with the assignment of responsibility; for example:
- Hire a head hunter by the end of this week – Greg.