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QUALITY & CONTINUOUS

IMPROVEMENT

contribute to the plan. Could you imagine if your framing contractor didn’t know when to arrive to the site to
construct your home? Where defining our vision as a goal is the first step of determining “WHAT” will be accom-
plished, determining the strategic steps and key objectives defines “HOW” it will get completed. Defining your
next target condition with an objective that describes how and when each step will be accomplished (like accom-
plishing framing or installing kitchen cabinets) is the strategic aspect of the strategic planning process. These goals
or objectives can be as simple as “John must order materials for the framing crew by the first of the month,” or
“the framing crew of 4 employees will work 5 ten-hour days for a month to complete the framing”. Knowing how
you will build your home or how a business will achieve their goals is determining the strategy.

In summary, reaching any goal (small or large) can benefit through the basic steps of strategic planning. Starting
with a vision and defining it as an objective is only the start. Developing this vision through a series of steps pro-
vides a clear playbook that defines the plan for all activities to achieve these objectives. Strategic Planning can also
detail the methodologies and tactics used to meet each step in your plan. You may need to understand the tricks
of the trade in carpentry if you intend to frame your own home. At Loram, we have many specialists throughout
or company who understand best practices in achieving company goals. Our employees contribute as part of our
strategic plans to achieve Loram’s vision of being respected globally in the infrastructure markets we serve. At Lo-
ram Maintenance of Way, all employees are members of a team with a very important role to play in Loram’s ap-
proach to be in business for another 120 years.

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