Strategic Management

Strategy of My Life

Submitted by:Swayambhu Sekhar RathSection CRoll No - UM14174IntroductionOur life is serious business, but who says we can't find joy along the way. As a person with our own unique gifts to offer, it is our responsibility to use our talents wisely and it is our right to enjoy the process. A successful business requires a mission and a plan, and there's no more essential business than the business of our life. With the perfect mix of soul and strategy, will get us motivated, organized and on our way to a fulfilling life.The joy of a life well lived - our work well done, our cherished ones well loved, our potential realized. Isnt that what were all after? We dont need to leave our dreams to chance. However, achieving this most fundamental and often elusive goal doesnt just happen. It requires a strategy.To create a meaningful plan, we need a structured approach that guides us, step by step, through the process of defining our most important goals and what we can do to achieve them.

Steps for a strategically planned life1. Mission: Our Purpose Every great strategic plan starts with a declaration of an entitys purpose that expresses why they exist, what they value, and what they intend to accomplish. Our mission is nothing short of our purpose here on earth.2. Vision: Sound, Look and Feel of Success Next, we need to paint a vivid verbal picture of what life looks like when we are using our gifts fully, doing what we love most and accomplishing what we set out to do. Our vision statement describes the point on the map we want to reach and serves as the inspiration and the foundation for our business planning. It is our personal definition of success.3. Critical Success Factors Now that we have created an ambitious, glowing vision, it may seem far off and out of reach. So how do we go from dreaming to doing? Now we will make a list of the elements we need to bring our vision to life. This tangible step marks real progress toward creating our personal development plan and builds momentum that moves us forward before the glow dims and we go back to the way weve always done things.4. Find our SWOT With our list in hand, it is natural to ask with some trepidation, Do I have what it takes to get there? A SWOT analysis gives us a clear, calm way to find out. It helps us identify our Strengths, Weaknesses, Opportunities and Threats to size up what we have to work with - or work around - as we move into action on our project.5. Set Goals A vision is just a pretty picture until we actively breathe life into it. The next step is to determine what we need to do to make real, steady progress toward living our envisioned ideal. To do that, we will create a set of prioritized goals that gives us a wonderfully effective way to think about how we will spend our precious time to get the results we want.6. Select Successful StrategiesDesigning a business plan for life allows us to live with integrity - where what we do reflects who we are and what we value. Specific tools and techniques help us to examine our potential strategies and select those that are most likely to fulfill our mission and achieve our goals.

My Mission To remember where I have been and where I will go through maintaining positive relationships with family and friends. To choose the ethical way by making a personal commitment to honesty and integrity. To find peacefulness within myself by looking inward while using my heart to guide my dreams and desires, and my mind to pursue knowledge, creating balance among all of my obligations. To content myself in my surroundings so I will always know where security lies within my life. To build a reputation of being dedicated to every goal I choose to pursue while having successes in both my personal and professional life. To enjoy every moment along this journey finding laughter, love, and happiness with each day that passes.

My VisionMy vision is to be an honest, empathetic and impactful Manager and to be recognized internationally within my industry. I am committed to growing as a leader and delivering value-added projects to the end users.

My Goals:Short Term Goals My short term goal is to find a position where I can use the knowledge and strengths that I have. I want to partake in the growth and success of the company I work for. My goals involve growing with a company where I can continue to learn, take on additional responsibilities, and contribute as much of value as I can.My goal is to get into a management position. The last five years of my career, I've concentrated on learning and acquiring all the skills needed to perform excellent work. Recently, I've taken more responsibilities in management because I eventually want to become a manager. I'm excited about the last few assignments I completed because it involved working with vendors and partners while managing a small group of workers. So I hope to be in a good management position after I pass out from XIMB and using the skills I developed here as well as the ones I gathered in my earlier organization.Long Term GoalsI would like to become a director or higher. This might be a little ambitious, but I know I'm smart, and I am willing to work hard. After a successful career, I would love to write a book on office efficiency. I think working smart is important and I have many ideas. So after gaining more experience, I'm going to try to write a book. I have always loved to teach. I like to grow newer employees and help co-workers where ever I can. So in the future, I would love to be an instructor. I want to become a valued employee of a company. I want to make a difference and I'm willing to work hard to achieve this goal. I don't want a regular career, I want a special career that I can be proud of.

SWOT Analysis

The Critical Success Factors

1. EDUCATIONThe first and foremost is education. In our society, the highest paid people are those who know more than the average. They know more of the critical facts, ideas and information than the average person in their field. As a result, they can make a more valuable contribution to a knowledge-based society and live the best life possible. They are valued more, respected more and ultimately paid more money and promoted more often. The rule is that, to earn more, we must learn more. If we want to increase our level of income and achieve the best life for ourselves, we must increase our level of intellectual capital and thereby the value of the knowledge component of what we are doing.

2. SKILLThe second of the success factors that we can use to achieve the best life possible is simply Skill. Our level of ability in our field will determine the quality and quantity of our results. The better we get at what we do, the easier it is for us to start moving forward to get a particular level of results. As we increase our skill, through study and experience, we get better and better at doing the small things that increase the speed and predictability of our results.

3. CONTACTSThe third success factor for moving forward and achieving the best life is by developing an ever-widening circle of contacts. We will find that every major change in our life is accompanied by a person or persons who either opens or closes doors for us. The possibility of the best life for us will be determined by the number of people who know us and like us and who are willing to help us. In order to broaden our network of contacts, we must network continually, at every opportunity. There seems to be a direct relationship between the number of people we know and how successful we are.

4. MONEYOne of the most important of the success factors is money. Having money in the bank gives us greater freedom and the ability to take advantage of opportunities when they come along. If we are broke, or in debt, we have very few options open. One of the most important things I ever learned in life is that we are only as free as our options. If we have no options, we have no freedom. If we are stuck in a dead-end job that we cannot leave because we have no money set aside, we have put a brake on our potential. We are locked in place and have no option for moving forward. We can end up spinning our wheels and losing months and years of our time by the very fact that we have no choice but to accept whatever is being handed to us.

5. GOOD WORK HABITSThe fifth of the success factors that enables us to get far more done in a shorter period of time is simply good work habits. Our ability to increase our ROTI, or Return on Time Invested can enable us to accomplish vastly more in a shorter period of time than another person who is disorganized and sloppy. Developing good work habits requires that we think before acting. We make a list and set priorities on the list before we begin. Good work habits require that we consider the likely consequences, positive or negative of what we are doing.

6. POSITIVE MENTAL ATTITUDEThe sixth success factor for our career and life is to reduce the amount of time that it takes us to achieve our goals is by developing a positive mental attitude. A positive mental attitude is very much a decision that we make. We become what we do. If we engage in the same activities that positive, confident, optimistic people engage in, we will eventually become one of them and live our best life possible. Anyone can remain positive when things are going well. It is our ability to look for the good in every situation that we see positive and start moving forward in life.

7. POSITIVE IMAGEThe seventh of the success factors we can incorporate into our lifestyle, and one that can help us achieve the best life for ourselves, is the development of a positive image. People judge us by the way we look on the outside, by the way we appear. The fact is that we judge everyone else by the way they look on the outside, as well. Taking time to present an attractive image in our person, our clothing, our grooming and our accessories can have an inordinate impact on the doors that open for us and the people who are willing to help us start moving forward in our life.

8. CREATIVITYCreativity is another wonderful way to start moving forward in life and to increase the speed at which we achieve our goals. Creativity is something that requires that we continually look for better, faster, easier, cheaper ways to get the job done.

9. CHARACTERPerhaps the most important of the success factors to accelerating our life is our character. Self-discipline combined with honesty will open countless doors for us. Trust is the foundation of all relationships. When people know us and believe in us and are convinced that they can trust us to keep our word and do what we say we will do, they will feel that they are far more likely to get the things they want through us, to get the things they want, faster, sooner, easier and with greater certainty.

Strategic ObjectivesKnowing how Ill reach my vision is the meat of my strategic plan, but its also the most time consuming. The reason it takes so much time to develop is because there are a number of routes from my current position to my vision. Picking the right one determines how quickly or slowly I would get to my final destination.Strategic objectives are long-term, continuous strategic areas that help connect mission to the vision. Holistic objectives encompass 3 areas: Financial, Operational, and People. Financial I would like to build capital and finances by working for a FMCG company. Apart from the capital I would build, it would also help in gaining expertise and expose me to real-time scenariosOperational Operations is the key to functioning of any business however big/small it is. Having a good operational framework or system helps is eliminating unnecessary expenses and waste and thus improves efficiency with time and experience. So building operational efficiencies by using principle like JIT (Just in Time) and Lean manufacturing becomes the key to success for the business I would build in the future.People For any goal to be rounded it is very important to consider the impact on most important stakeholders i.e. the people. It is not just a moral conscience but an ethical responsibility as people provide the opportunity cost for any business to flourish. So abiding to the interests of people becomes binding for any venture to be successful.ConclusionDeveloping an effective career strategy is a vital step in fulfilling your professional potential and getting dream come true. This strategic analysis of my life will help me visualize in a systematic manner where I currently am and how much I need to work in order to get to where I want to be. Henceforth, this will help me give a much more organized framework for working towards my goals in life.