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Creating Your Strategic Plan

Hardware Retailing‘s January 2015 issue analyzed the elements of a strategic plan and highlighted retailers who have implemented strategic plans in their business. To read the full Strategic Planning story click here.

Now it’s time to create a strategic plan for your business. Download Hardware Retailing‘s Strategic Planning PDF to learn more about the different components of a strategic plan and to get started on your own.

Please note: You will need Adobe Reader to download these PDFs. You can download a free version here.

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Mission Statements

Need some ideas as you start working on a mission statement for your business? Here is a list of some other organizations’ mission statements:

Home Improvement Industry Mission Statements:

Ace Hardware Corp.: Ace Hardware Corp.’s mission is to provide consistent and superior customer satisfaction in the communities we serve, revolutionize the independent segment of our industry and be the market leader in the convenience hardware/home improvement market. A strong board of directors, comprised of 11 retailer-owners, establishes guidelines for the professional Ace staff.
American Hardware Manufacturers Association: To be the most valuable resource to manufacturers in the home improvement industry.
Do it Best Corp.: Making the best even better.®
True Value Company: To be a world-class wholesaler with a strong retail focus, growing profitably.

Nonprofit Organizations’ Mission Statements:

American Heart Association: To build healthier lives, free of cardiovascular diseases and stroke.
American Red Cross: The American Red Cross prevents and alleviates human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors.
Habitat for Humanity International: Seeking to put God’s love into action, Habitat for Humanity brings people together to build homes, communities and hope.
National Wildlife Federation: Inspiring Americans to protect wildlife for our children’s future.
NPR: To work in partnership with member stations to create a more informed public—one challenged and invigorated by a deeper understanding and appreciation of events, ideas and cultures.
The Rotary Foundation: To enable Rotarians to advance world understanding, goodwill, and peace through the improvement of health, the support of education, and the alleviation of poverty

Retailers’ Mission Statements:

Nike: Bring inspiration and innovation to every athlete in the world.
Target: Our mission is to make Target your preferred shopping destination in all channels by delivering outstanding value, continuous innovation and exceptional guest experiences by consistently fulfilling our Expect More. Pay Less.® brand promise.
Walmart: We save people money so they can live better.

Additional Resources

Creating a Business Plan (SBA.gov)
Making Plans for Your Business (SBA.gov)
SWOT analysis (Strategic Management Insight)
Putting Together a Business Plan (Inc.)
Introduction to Business Plans (Entrepreneur)
Beginners’ Guide to Financial Statements (SEC.gov)

About Liz Lichtenberger

Liz is the special projects editor for Hardware Retailing magazine. She reports on news and trends, visits retailers, and attends industry events. She graduated from Xavier University, where she earned a degree in English and Spanish and was a member of the swim team. Liz is a Louisville, Kentucky, native who lives in Indianapolis with her husband and two children. She enjoys swimming, reading, doing home improvement projects around her house and cheering on her two favorite basketball teams, the Kentucky Wildcats and the Xavier Musketeers.

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