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Financial Statements by Thomas Ittelson

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Chapter 16. Mission, Vision, Goals, Strategies, Actions and Tactics

Business strategy is the highest level planning and command in the organization directed at reaching specific commercial and financial goals.

We at AppleSeed Enterprises are going to make some important decisions. Sometimes deciding what to do is easy. Not much planning, analysis, or consultation is required to pick up a box of cornflakes on the way home from work. And we were running out of 1% milk anyway.

However, when a lot is riding on getting a business decision right, it is a good idea to be thoughtful and strategic. But what does strategy mean? How do we develop it?

Developing good strategy is a process. We ask some questions, test some assumptions, gather some information, ...

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