Strategic planning Essay Example | Topics and Well Written Essays - 500 words

Strategic planning - Essay Example A firm aspiring to venture into the manufacturing industry usually takes considerable time before turning into a manufacturing firm. Rudd Corporation has been in the industry for only seventeen years, yet it is already considered as manufacturing firm. ‘Management by Objectives’ is a term that refers to the process of stating and defining the objectives of an organization to the management and employees to get the bet out of the organization. Rudd Corporation can put into plan strategies of using technological ladders as short term objective to tackle the situation inside the corporation. The objectives for using technological ladders in the corporation are to lessen the number of slips, trips and falls in the organization. Secondly, the corporation uses technological ladders to simplify the ease of doing a task in the corporation and increase their profit limits. Preparing a research budget for Rudd Corporation entails the overview of the materials required. Rudd Corporation requires buying electronic ladders. Rudd requires a business plan to help in the running of its daily activities which operate automatically. The corporation should put a side the continuance fees annually to repair the automatic ladders used in the corporation. The maintenance of the ladders will prevent against unnecessary break downs and injuries in the corporation. A strategic plan provides the establishment and structure for a business plan. Rudd’s corporation tactical plan should relate to the duration or purpose of the business. An example is that Rudd’s management should clearly state if the corporation is short or long term venture, and put appropriate strategies to match the nature of the corporation. Tactical plans should be undertaken by Rudd’s management on the employees required in the organization. The corporation should employ skilled and physically fit employees, since the nature of work in the corporation is demanding (Olsen, 384). The goals