Where strategy fits

After managers set goals and define objectives in line with the organization’s mission and overall vision, the next step is to translate these into a plan. In their planning function, managers identify the resources they need (e.g. people, finances, equipment, etc.) and organize them so employees can accomplish tasks and meet set objectives.

Once a plan is in place and the appropriate resources have been allocated, managers must strategize. Strategic management means deciding what the organization is willing and not willing to do to make its mission a reality. It is the sum total of all the activities undertaken to implement the plan and, ultimately, reach the goals and objectives set by the organization.

Objectives

The overall purpose of this learning pathway is to learn how goals and objectives are translated into action. Your goal is to:

• Learn how managers use goals and objectives to plan ahead.
• Learn how managers use goals and objectives to allocate resources.
• Understand the role of planning and strategy in making an organization’s mission and vision a reality.