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Figure 4: Strategic planning process (Lotich, 2017)Vision: This statement shows where the organisation headed and what is organisation will beon future. In other words, it’s like a dream to be achieve in far future by the organisation.Vision statement is usually establishing by top level management of the organisation. Thevision statement ideally clarifies the long term survival of the company and its strategicintense.Mission: This is the set of statement which transform the vision statement to be a reality. Itclearly defines that what does organisation to achieve its vision. And it will provide ananswer for why the particular organisation exists. In which direction it moves, and what is thedifference of the particular organisation when compare with its competitors, importantly howit will differ from competitor’s operation of production. Following categories should be including when it’s come to a successful mission statement;types of goods and services supply, primary market or target customers, principals ofsurviving, growth, profitability, nature of the quality and social responsibility andmanagement philosophy.Gap analysis: Researching organisation’s current position and identifying the gap betweenthe current position and the vision statement. Simply how much of steps behind to achievethe vision statement of the organisation from the current state. In order to make this step
successful the organisation should involve a researching the data outside of the organisationas well as inside of the organisation.SMART Goals: This is a tool which helps to clarify the steps, motivation and focus that theorganisation should take in order to achieve the goals and objectives. This clearly define thecharacteristics of an objective.oS-Specific: Objectives must be set clearly.oM-Measurable: Objectives must be able to measure.oA-Achievable: Objectives must be reachable.oR-Relatedness: The set targets must make an influence on overall achievement oforganisation.oT-Time Frame: Objectives must be set with clear time frame.Monitor progress: Evaluating how far the organisation is successful up to a certain date.This can be done through a responsible employee of the organisation by making evaluationreport. It is advisable to done this evaluation once a quarter so that it will be easy to identifythe steps that should be taken by the organisation in order to achieve the strategic plan. Strategic plan for Milco Pvt LimitedTherefore the strategic plan for Milco Pvt (Product-Highland Ice cream) Limited includes:Vision: To be the ‘’Best in class’’ nutritious food and beverage company in Sri Lanka.Mission: To be a proactive partner in achieving the target growth in fresh milk productionwhile strengthening the local daily farmer. Modern technology supported with continuesimprovement initiatives to be applied in the processing of nutritious food and beverages toprovide our valued consumers at affordable prices.