Choose an organization of your choice (preferably the organization where you worked before (or) are currently employed). Understand the organization’s objectives, strategic plan, vision, mission, goals, and understand the working operational processes of the company, with special reference to undertaking a full strategic review of company activities. The review will include an assessment of the organization’s external environment, a review of its existing plans, consideration of strategic options, the development of a strategic plan, an examination of core values and, finally, the development of a schedule for implementation of the plan, including how it will be monitored and evaluated.
You are required to make a strategic plan of your chosen organization, by specifically answering the questions given below. Before answering these questions, give out a brief introduction to your chosen organization. Your strategic plan should be made in the form of a Formal Report.
The report should include the following:
1. Explain and examine the external factors affecting your chosen organization? How important are they for a company’s sustainability and survivability? Analyze the major changes taking place in the external environment that will affect the strategy of your chosen organization.
2. List the important stakeholders of your chosen organization, analyze the needs and expectations of these stakeholders, including how they can influence strategic decision making in the organization.
3. Use appropriate tools, for e.g. value chain analysis, Porter’s Five Forces, Boston growth-share (BCG) matrix, SWOT analysis, etc. to analyze and review where your own organization is positioned in the marketplace with respect to its current business plans? Thereafter, evaluate the competitive strengths and weaknesses of your chosen organization’s current business strategies.
4. Use any two modeling tools to develop strategic options for your chosen organization, for e.g. you can choose Ansoff matrix strategies; vertical, backward and forwards integration; horizontal integration; differentiation; cost leadership; Mintzberg’s strategies (deliberate, emergent); leadership and differentiation; etc.
5. Develop comparative activities between your chosen organization with another competitor in the market. Thereafter, create options to form the basis of the future organizational strategy of your chosen organisation.
6. What are the key factors you would consider while constructing a strategy plan for your chosen organisation? Based on the key factors identified, propose a suitable structure for a strategy plan that ensures appropriate participation from all the stakeholders of the organisation.
Based on the proposed structure of the strategic plan of the organisation, develop criteria by reviewing potential options available for developing a robust strategic plan. Thereafter, construct an agreed strategy plan that includes all resource implications.
7. Explain the core values (ethical, cultural, environmental, social, and business) of the chosen organization and compare these with the current business objectives of the organization?
8. Based on core values alignment with business objectives, as stated in Q.7, develop appropriate vision and mission statements of the chosen organisation. In further alignment with the vision and mission statements of the organisation, produce agreed future management objectives of the organisation. Finally, develop measures to evaluate the strategic plan of the organisation?
9. Based on the constructed agreed strategy plan designed by you in Q.6 for your chosen organisation, develop a schedule for implementing this strategy plan; and also design monitoring and evaluation systems for implementing the strategic plan of the organisation. As stakeholders play a vital role in influencing business strategies, create an appropriate dissemination process to gain their commitment and approval of the strategic plan.
The report shall not exceed 6,000 words and should include relevant examples and illustrations.