What term describes the plan that organizations use to define their future and progress?

The term that describes the plan organizations use to define their future and track their progress is the strategic plan. A strategic plan outlines an organization’s long-term goals, the strategies to achieve those goals, and the metrics by which success will be measured. It serves as a roadmap guiding the organization’s direction and decision-making processes.

A strategic plan typically involves analyzing the current state of the organization, identifying strategic objectives, and determining the necessary actions and resources needed to achieve those objectives. This kind of plan ensures that all departments within an organization are aligned and working towards common goals, making it essential for the overall success and sustainability of the organization.

In contrast, a contingency plan is designed to address potential future emergencies or unexpected events, ensuring that organizations can respond effectively to unforeseen circumstances. An operational plan, while crucial for daily activities, focuses on short-term objectives and the specifics of what needs to be done to achieve strategic goals. Lastly, a matrix organizational chart is a visual representation of an organization’s structure, showing reporting relationships and roles, rather than a plan for future direction or progress.