How a Company Plans
Key points to consider:
- What decision-making and environmental conditions does this company generally face?
- How does the nature of the industry they are in affect decision making?
- What are the company’s mission and vision statements?
- What are the short-term and long-term objectives and goals of the company?
- What competitive forces does the company face?
- Are there any special purpose plans the company uses to manage change, contingencies, product development?
In your analysis think about whether the company’s planning and decision-making processes suit the environment/industry in which they operate.
Your textbook may be useful in understanding some of the terminology used in this section.
Search for information: Go to the Research section of this guide for places to start your research and tips for using library databases
- Overview: Look for articles on the CEO or other key officers of the company. Look for newspaper articles regarding major changes in company direction.
- Environmental conditions: What are the political and economic conditions affecting the industry in which your company operates? Look for articles under the name of the industry and governmental sites such as Industry Canada.
- Mission and Vision, Goals. Look for information in annual reports or information given to shareholders. Expansion and/or contraction or change of a product line can mirror goals, vision and mission.
- Change and product development: Expansion and/or contraction or change of products are important. This information can be found in newspaper and journal articles.
- Competitive forces: identify major competitors. Look for articles on your company's competition. Look for a general outline of the operations of the major competitor(s).
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