Senior Project - Team Video Analysis Report Essay - 1

Senior Project - Team Video Analysis Report - Essay Example Without clear goals or a financial projection, the ideas are being tossed at the team who is left feeling vulnerable and without direction. 6. Team members do not know how to organize and create strategy. It is clear that the basic tools of strategic management are outside of the knowledge of most of the team. This means that a part of the team is not working up to their potential, decreasing the efficiency with which goals are met. The head of the company is unaware of the steps that were taken to create the success that she has achieved. The problem with this lack of understanding is that she is unable to create a future without having a clear picture of the past. Understanding the importance of the past is the first step in creating a strategic methodology for continuing into the future. Charting how the company was built, all the milestones and the ways in which they were achieved would allow for Elizabeth to create a clearer picture of how her company evolved. Recognizing how she was prepared for opportunities and how she utilized those opportunities would give her a better grasp of her current success. In addition, she needs to look for lost opportunities and how she can be better prepared from them in the future. Once this understanding has been developed, she can move forward to create the business plan that she needs to continue her success. In order to address the problem of a business plan, Elizabeth needs to establish what her company stands for in regard to its mission and goals. This development of a business plan will provide a framework for expansion as new markets are examined for potential benefit. Through a clear statement of who the business and how it operates, she can better establish a strategic plan towards the future. The business plan needs to be built upon the establishment of a mission statement. A mission statement will help to define the business so that it can stay