ssignment: Strategic Management Plan – Part I (2000 to
2500 words)
Important Note: When organizing/writing
your strategic management plan, use professional APA formatting and also use
the: Module 7: Strategic Management Modelprovided in
this module. This model can also be found within the PowerPoints and your
textbook.
You will formulate and document the individual components of a
unique strategic management model culminating in a strategic management plan
for your company. You may also use a fictional company if necessary. If you
choose a fictional company it can be an established business or a start-up. It
can be a market leader, or a company that is experiencing financial difficulty.
It can offer one product or have multiple products and/or services. It can be a
single operation or a multi-business company. Part I of your Plan is now due in
Module 7.
Use the questions and tasks below as a guide in developing the
first part of your strategic plan. It should be noted that everyone is
encouraged to use any other relevant information beyond the questions below to
showcase your strategic planning skills learned in this course. In
addition to the course textbook, be sure to cite and use outside scholarly
research where appropriate to support this plan. Furthermore, using
keyword internet searches like Strategic Planning orStrategic
Planning Templateswill give you access to examples which will
guide you with additional ideas.
1.
Describe your chosen business for this project and discuss in
scholarly detail what forms of communication about the strategic management
process would be helpful to the employees in your organization prior to
beginning the process?
2.
What are the basic products or services, primary market, and
principle technology of your selected company and then prepare a mission
statement for this business or fictional firm.
3.
Conduct an External Environmental Scan for your selected company.
Identify and Select key trends in the social and task environments which offer
threats and opportunities to the organization. Organize the scan by placing the
key trends into columns of threats, opportunities, or both.
4.
What functions and services in your selected company define your
core competencies? Which could be outsourced leaving the organization room to
be more focused on what it does best? What critical skills should your
organization develop? Also prepare a table showing company strengths and
weaknesses
5.
Using one (or a combination) of grand strategies, write long-term
objectives for your selected company that exhibits the seven qualities of
long-term objectives including: Acceptable, Flexible, Measurable, Motivating,
Suitable, Understandable, and Achievable. Furthermore, describe the grand
business strategy or strategies that you will select to seek sustained
competitive advantage and why you selected these strategies.
Strategic Management Plan – Part II (2000 to 2500 words)
Important Note: When organizing/writing
your strategic management plan, use professional APA formatting and also
continue using the: Module 7: Strategic Management Modelprovided
in module 7 and also found in this module. This model is also located
within the PowerPoints and textbook.
Also, when
submitting your 2nd part of this final project, submit
the master file including the complete strategic management
plan.
Picking up where you left off with Final Project Part
I,use the questions and tasks below as a guide in developing the 2nd part
of your strategic plan. It should be noted that everyone is encouraged to use
any other relevant information beyond the questions below to showcase your
strategic planning skills learned in this course. In addition to the
book, be sure to cite and use outside scholarly research where appropriate to
support this plan. Furthermore, using keyword internet searches
like Strategic Planning orStrategic
Planning Templates will give you access to examples which will guide you with
additional ideas.
1.
In a previous phase of the strategic plan, you developed long-term
objectives for your company. Using these as a guide, document the short-term
objectives and the subsequent functional tactics that will guide the
implementation of your strategy. Use your book and research as a guide to
how this should be done and be sure to include the specific departments or
people that will be responsible for each of the functional tactics.
2.
Create a five-year timeline for implementing the strategies.
Also for this phase, describe your organization’s culture. Pay particular
attention to the management styles; the decision-making process; communication
patterns, employee attitudes towards authority, work, productivity, and risk;
territorial feelings; levels of cooperation between departments; attire; reward
system; values; and deeply held beliefs within the organization. What stories,
if any, has become part of the folklore of the organization, passed down to new
employees?
3.
Draft a budget for your organization estimating the costs and
expected revenues from implementing the strategies that you have identified and
use a five-year time horizon.
4.
Also, test your grand and functional strategies against the
culture and based on this test, are all the strategies doable or will a change
in strategy or culture be required? Remember, one need not discard all the
strategies if a few require alteration. If you cannot change the strategy or
the culture, how might you implement the strategy by “managing around the
culture?”
5.
Establish a structure for your organization and provide a
diagram of the structure. Also, explain how the structure supports your grand
strategy and select critical success factors for your organization. Why did you
choose these factors?
6.
Be sure to incorporate any needed diagrams or illustrations within
the master document. For example, this could be the budget copied and
embedded from Microsoft Excel into your Microsoft Word document holding the
master strategic management plan. For the diagrams, I would encourage
students to explore the smart art features with Microsoft Word.
7.
As your abstract for the final plan, write an executive summary
for your organization which in this case will be the overall purpose of your
plan and should be no more than about a ½ page. (Hint: If
you have never written an executive summary, use a keyword internet search Strategic
Plan Executive Summary to see examples.
