Background:
In six months you are to present a complete business plan for Able Corporation to the Strategic Officers Steering Committee (SOS-C). You are to provide a mission statement, operating principles, market analysis, company strengths and weaknesses analysis, one-year, five-year and ten-year strategic objectives, sales forecasts, financial and operational objectives, and pro forma financials.
As a preliminary step in the preparation of the business plan, brainstorm the major elements of the strategic management process. Using the questions below as a guide, provide several bullet points for each major step in the process. These can include insights, issues that need to be addressed, questions that need to be asked, etc.
Problem:
What do you consider Able Corporation's top two strategic objectives over the next year? Why these?
Hint: We are essentially in a situation commonly referred to as a "turn-round" situation. Consider this scenario as though "Able" were a patient, very ill, being wheeled into the Trauma Ward of an Emergency Center. What is the primary task of the medical team with the ill patient? This answer will guide you in selecting the two strategic objectives.