Bus 475 - Strategic Plan Part 1: Conceptualizing a Business

Strategic Plan Part 1: Conceptualizing a Business

BUS/475

October 17, 2011

Strategic Plan

The strategic plan gives the company the essential elements to achieve success. The plan establishes the path, actions, and the direction of the company. The plans defines a specific path the company should take and evaluates the internal and external factors to create the plan of action, implementation of the strategy, evaluates the progress, and apply the needed modifications to stay on the right track (QuickMBA, 2010). It is important for the managers to identify the long-term goals to achieve success.

The creation of a mission and vision statements is crucial to help create a foundation of a strategic plan for WNR Management. Through the creation of the statements, the management and employees are conscious of the objectives, goals, and direction of company both for the present operations and the future. Through the implementation of the vision statement, mission statement, and good values will aid in creating the best strategic direction for the company.

Mission Statement

Mission Statements are statements that describe the core or function of the company, what the company stands for and describe the products it would offer the society (Gleeson, 2011). WNR Management's mission statement indicates that the company wants to be the premier property management company in California. WNR Management will provide excellent customer service, provide reliable, and devoted service to help the rental property owners gain the maximum return on investment from their rental properties. The company will also help foster a peaceful and collaborative relationship between the owners and the tenants.

Rental property owners need a management company to help them with the different duties of a landlord. These activities include collection of rent payments, preparation of the rental or lease agreements, repair, maintenance, evictions, keeping records, reporting to comply with the federal and local regulations. WNR Management offers property management services to the rental property owners of buildings, malls, and apartments, and condominiums. Building spaces are rented out to be used as office spaces or used as stores. To properly manage, the management company needs to possess the knowledge and skills that would provide excellent service that would foster a pleasant relationship between the owner of the building and the renters. In addition, the management company makes sure that the building complies with the rules and regulations the local and federal government.

Vision Statement

The function of the vision statement is to give the organization the inspiration that