LM - Reputation, Branding, and Strategic Plans [LESSON]

Reputation, Branding, and Strategic Plans

This lesson will introduce strategic planning and its role in achieving business goals as well as the impact of branding and reputation on the success of a business.

Strategic Planning | Knowledge Point

In the last lesson, we learned about the importance of mission and vision statements as well as SMART goals to the success of an organization. The development of a clear vision statement, specific mission statement, and SMART goals is part of the strategic planning process. It is important to note that strategic planning is an ongoing process that requires time, critical thinking, and continual reevaluation. Since strategic planning is the lifeblood of a successful organization, it needs proper attention.

Benefits of Strategic Planning

  • Creates a focused vision and mission that can be utilized by leadership, employees, and customers
  • Allows leadership to track progress toward clearly defined and measurable goals
  • Helps leaders make changes and adjustments while referencing the vision, mission, and goals

Watch the video below to learn more about strategic planning.

After watching the video, see if you can answer the following Questions about strategic planning:

What is the purpose of strategic planning?

To achieve goals

How can businesses determine their current position?

Needs Assessment or SWOT analysis

Why is it important to prioritize goals in strategic planning?

To focus on the most important and relevant objectives.

Why should strategic plans be consistently reviewed and revised?

To reflect changing business conditions and ensure effectiveness

SWOT Analysis | Knowledge Point

One of the first steps in strategic planning is determining the organization’s current position using a SWOT analysis. Explore the interactive below to find out more.

Reputation and Branding | Knowledge Point Activity

A crucial part of an organization’s success is its brand reputation. In our increasingly online world, it is easier than ever to find out about every brand and organization through the Internet and social media. Organizational leaders and management need to understand the impact of brand reputation as part of the management of the business. Click through the presentation to learn more. Click the arrow on the bottom right to continue.

Reflect icon with the Gavsby mascot pointing to a light bulb.

 

 

Reflecting on your own buying and spending habits, do you think you have been influenced by branding and reputation? The next time you purchase a product, consider why you are buying that particular product and what image you are portraying by using or wearing that product.

 

 

Strategic Planning, Branding, and Reputation Self-Assessment | Practice Activity

Check your understanding of strategic planning, branding, and reputation using the interactive below.

Reflection

Strategic planning is an ongoing process that leaders and managers use to track progress toward established organizational goals. Branding and reputation are important components of an organization’s strategic plan since they impact what everyone thinks about the organization or brand.

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