Custom «Strategic planning: a practical guide» Essay Paper

Being a professional in the media industry, I have been entrusted with the development and implementation of strategic plan in the television media house. In every business or industry it is imperative to have a plan which directs the course of action in the industry. Big international firms no longer do planning only; it is a requisite for every firm to have a strategic plan for it to survive. Media industry should anticipate a change and lay down of the infrastructure, which will enable the industry to navigate through the shake-ups resulting from the changes (Steiner, 1997). Strategic planning in the media industry would ensure the set goals are met without struggling with finances, marketing and human resource.

Strategic planning in the media industry gives the direction, which the organization will follow. It makes the management of such areas like finance, human resource and marketing to be easy. Strategic planning also helps to establish the purpose of the media industry. There is the need for the business enterprise to know exactly where it needs to be in future. Strategic planning ensures that the target customers of a business are satisfied and provides infrastructure for competing with similar businesses (Goodstein & Pfeiffer, 1993). Businesses without planning have high chances of failure. It is hard for them to balance between their production level and expected returns. However, it is worth to note that planning without execution just results to ideas. It is necessary to ensure that when the strategic plan is in place, it is implemented to the letter.

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Strategic planning is not a simple process, and it requires strategic planners who are committed to their work and are willing to sacrifice their time. Planning helps in creating an infrastructure for setting objectives and goals to be met (Rea & Kerzner, 1997). The setting of goals and objectives alone is not enough, but requires strategic planning to ensure they are met. Strategic planning aims at meeting the organization’s mission and the vision statements. Strategic planning requires to be done for a considerable period. The planning should neither be for a long period nor for an extremely short period.

It is essential for the media industry to have a mission statement. The mission statement guides the operations of the television media house towards the fulfillment of the mission. The mission statement directs how everyday activities are done in the industry. The mission statement indicates the purpose of the organization and the reason for its existence. It is within the mission statement that daily activities of the industry are stated. The mission statement describes or sets boundaries on what the industry does and hence dictates what the industry cannot do. Below is the mission statement of the TV media house:

To conduct advanced research in gathering information, present news in a comprehensive way, provide a comfortable working environment for employees, as well as satisfy customer needs. 

From the above mission statement it is evident that it sets clear the activities the industry carries out. With a mission statement and strategic plan in place, it is easy for the business to meet its goals and objectives. As it is set out in the mission statement, the business should focus on fulfilling the desires of its customers. In planning the execution of a business it is necessary to have in mind the target customers as well as their needs. This helps in setting the business or the industry on track, thereby achieving its success.

Having a mission statement, which directs the daily operations, it is also important to have a vision statement. This is a statement, which articulates where the business intends to be in future in terms of its finances, customer relations and operation base. The vision statement explains the future goals of the organization or the business. For the television media house, it is imperative to deliver comprehensive and factual information to the viewers. The business also aims at satisfying its customers with the services it offers. A vision statement ensures that what is set out on the mission statement is strictly followed. The vision statement is paramount in the achievement of a firm’s success. It reminds the business of where it is meant to be after a certain period of time. The activities prescribed in the mission statement lead to the fulfillment of the vision. Therefore, the vision statement gives the credibility and motivation to the mission statement. Below is the vision statement for the television media house in the media industry:

To be the media house of choice in delivering the most comprehensive, factual and relevant information; offer its employees comfortable working environments and satisfy its customers through national broadcasting.

The vision of the business underlines the importance of the mission statement by setting goals, which must be met.

Objectives of the Business Enterprise

The main objective of the business was to ensure the customers were satisfied. The business aims to deliver the best news coverage to its viewers. Operations of the business were aimed at delivering information to the viewers. The business intended to have national coverage of occasions as well as becoming a national broadcaster.

The media business also targeted to have a financial stable working environment. This was to be achieved through numerous advertisements, which would air on the broadcaster. The expansion of the television media house to the national level would encourage more businesses to advertise through the broadcaster. This would ensure the broadcaster is financially stable. Another objective of the firm concerning finances is to ensure that it cuts on costs.

The other objective is concerning the human resource of the business enterprise. It is important to have competitive employees who can deliver the desired results. The enterprise aims at providing the best working environment for its workers. This is aimed at ensuring the maximum output from the employees. The good working environment goes hand-in-hand with providing a reasonable pay to the employees. The business enterprise considers its workers as a main asset and plans to invest in training them, as a means of enhancing their skills (Mathis & Jackson, 2008).

The business also aims at providing quality shows and programs on their screens. This would ensure they have more customers who are loyal. This would also make the channel a choice for many viewers. Another long-term objective of the firm is to expand to international level. This would make the firm cover news and occasions of the whole world.

The above-mentioned objectives correspond with the desire of fulfilling the firm’s mission as well as vision statements. The mission statement of the firm is “To conduct advanced research in gathering information, present news in the comprehensive way, provide a comfortable working environment for employees, as well as satisfy customer needs”. The objective of having competent employees with friendly working environments underlines the mission statement. This is also in hand with the firm’s vision of offering friendly working conditions for employees. The main objective of the firm is to satisfy customers, which is echoed in the mission and vision statements. It is within the company’s mission and vision statement to expand its operations, which is one of its core objectives. The company’s objective to provide the best quality programs and shows is also in line with the company’s mission and vision statements of giving viewers the most comprehensive and factual information.

In conclusion, the achievement of any company’s goals and objectives depends on how well the company plans its operations. It is imperative to plan strategically the operations of an enterprise before starting operating. Goals should be clearly set and given timeline for their completion. Any business should also have a mission and a vision statement, as these indicate the targets of the company.