After studying this chapter, you should be able to:

5.1 Understand effective ways of developing a strategic plan.
5.2 Compare and contrast effective and ineffective mission statements.
5.3 Recognize the importance of competitive advantage and organizational values in a strategic plan.
5.4 Perform a five-forces analysis and SWOT analysis.
5.5 Set feasible goals and objectives for your strategic plan.
5.6 Understand planning for profit versus the 3Ps in strategic-planning outcomes.