Second generation family members in operational control of the company are well educated and seasoned contractors.
Show your clients what are the customized things you can do for them so that people would want to choose you from the lot. The group should have significant support and involvement from senior management and should be provided with appropriate support staff.
Increase market share to 30 percent by the end of year five. For example, if the objective or goal is to penetrate a specific new market and obtain certain dollar volumes of new work, a series of tasks should be designed to establish and develop certain contacts, responses should be accumulated and analyzed from certain bid opportunities, and bid awards should be obtained that equal the planned level of new work.
Step 2: Goals and Objectives The next thing for you to do would be to make a list of the goals and objectives you need to fulfill.
Include a brief explanation of every owner and also, provide a history. A strategic plan should be developed and implemented over a long period of time i. The personnel responsible for implementation must be advised of their responsibilities and how their performance will be measured.
These decisions include the following: formal establishment of the organization's business mission, specific objectives, and goals; identification of each of the strategies to pursue in order to reach those objectives; identification and summarization of the resources required financial, human, facilities, or other to accomplish each strategy; and establishment of the timing for implementing the strategic plan 7 The timing of the implementation of strategies developed in the strategic planning process depends on the following: current availability of required resources; ability of the organization to provide these resources in the future; and 3 priorities established for strategies based on the opportunities and risks foreseen for the firm's businesses and potential businesses.
Periodic reports should monitor progress against performance indicators to continue communicating the plan and its progress to key management personnel. In developing a strategic plan, certain key decisions must be made.