A master plan is a blueprint for where the company is, where it is going and what steps need to be taken to get there. It is essentially a map or written version of the vision or long range plan for the business. The benefit of creating a master plan is that it articulates a clearly defined vision for all stakeholders in order to work together towards common goals.
Quality Goal–What expectations and goals do you have for the product and/or service you are manufacturing? This could be receiving certain recognition or accolades or reaching certain quality standards.
Financial Goal–Everything money related. How much money you have vs. how much money you expect to make, what are the business necessities? Establishing priorities is an important part of this in order to ensure that you money is being directed into the correct channels.
People Goals–What type of people are you looking for to represent your company? How will you train those people and what will you do to build loyalty and establish a sense of ownership within your staff?
Improvement Goals–What areas for improvement have you identified and what are the specific steps for accomplishing those improvements? How you will quantifiably measure those goals is another important aspect.
Possible obstacles–What are some possible obstacles that may be encountered? What strategies can be employed to overcome or circumvent those obstacles?
A Master Plan is essential for setting expectations. It makes it easy to differentiate between good and truly useful work and work that is wasteful or unnecessary. Two crucial steps in the creation of a master plan is sharing it with employees and getting “buy-in”. Everyone within an organization must be aware of where the company is and where it plans to go. The flip side of that is that everyone must be willing to commit themselves to the vision and plan for the company.