Every company has its own strategy and company culture. Even a company in the start up phase has its own background consisting of the motivating factors around which the founding partners united. Even in a company that is vaguely focused in terms of product or marketing forces, it is possible to detect a faint strategy, although in this case you could say that the approach to business is incorrect.
The first step is to develop a realistic vision for the business that defines where the organisation wants to be in the future and how it will develop over a period of at least three years.
The mission is a clear definition, one or two sentences long, summarising where the organisation is going, describing the basic purpose of the business, and explaining why it exists and who the targeted customers are.
Mintzberg defines a mission as follows:
‘A mission describes the organisation’s basic function in society, in terms of the products and services it produces for its customers.’
The third key element of strategic planning is to state explicitly the objectives of the business – concrete goals that the organisation is seeking to reach. They must be linked with the expectations and requirements of all those who are involved directly or indirectly in the company’s affairs. The objectives must be challenging but achievable and should be measurable so that the company can monitor its progress and make corrections as needed.