Week 5 Team Presentation. Strategic Plan Develop Strategic Plan ○ Environmental Scan ○ Strategy Formulation ○ Strategy Implementation ○ Evaluation and.
Post on 14-Dec-2015
220 Views
Preview:
Transcript
Strategic Plan
DevelopStrategic Plan○ Environmental Scan○ Strategy Formulation○ Strategy Implementation○ Evaluation and Control
• Strengths– Patents– Strong band names– Good reputation among customers
• Weaknesses- A Weak brand name- A lack of access to key distribution channels- High cost structure
Internal Analysis
• Opportunities– Arrival of new technology– Loosening of regulations– A unfulfilled customer need
• Threats– New regulations– Increased trade barriers– Emergence of substitute products
External Analysis
Competitive Advantages• Innovative Trend Setting
– Building Sustainability
• State of the art Capabilities– Efficient & Effective
• Creative Marketing Strategies– Building for the best and worst economic
times
•Identify Employee Rights•Identify Community Rights•Identify Social Obligations
Social Responsibilities
• Innovative Trend Setting• State-of-the-Art Design
• Constant Assessment of Goals
Competitive Advantages
• Improve Human Life• Improve the Environment• Develop Fair Procedures• Commitment to Planet Earth
Competitive Strategies
• Future Goals• Total Quality• Growth • Development• Budget Planning
• Improvements• Review
Leadership• Products• Services• Technology• Pricing
The Importance of Strategic Planning
• Commitment• Communication• Creditability
• The mentioned topics are critical to the success of the organization through the application of a strategic plan.
Effectiveness
• Create a Mission Statement• Establish a timeline 3-5 years• Create an annual objective• Implement the Plan• Conduct regular reviews
Suggested Outline
• It forces the organization to review • The plan provides a future goal/goals• Provides awareness internal and
external• Gives direction• Focuses on the mission and objectives
Why a Strategic Plan
• Internal Dynamics– Tangible Goals – Innovative Practices– Internal Influence
• Senior Leaders• Environmental Scan• Workforce Culture
– Assessing cultural matches
Internal Dynamics
• External Dynamics– Sustainability– Threats– External Influence
• Competition• Market Sustainability
External Dynamics
• New Technology• Telecommunications• Communication• Loyal Employees
– Employee Relations– Create Career Day– Compensation Package
Assessment and Feedback Controls
1. Provides the capability to quantify measures of performance.
2. Quantifies the gap between your organization and best practices.
3. Encourages new ideas, innovation and creative thinking.4. Provides a foundation for strategic planning and
operations improvement.5. Maximizes the fact that physicians are researchers and
generally accept an objective data driven process.6. Provides an objective basis for discussing operations
improvement.7. Identifies specific improvement opportunities
Benchmark
Conclusion
Environmental ScanIdentified organizational needsIdentified competitive advantages
• Developed strategic plan
References
Bono, E. d., & Heller, R. (2006). Thinking managers. Retrieved -, from http:// www.thinkingmanagers.com
Ekarius, C. (2010). Up your sustainability. Retrieved -, from http://www.hobbyfarms.com
Gyermeh, D. (2009). How TQM can benefit your business. Retrieved -, from http://www.businessknowledgesource.com
Mallinger, M. (2001). Personality traits and workplace culture. Retrieved -, from http://www.gbr.pepperdine.edu
Wheelen, T. & Hunger, J. (2008). Concepts in strategic management and business policy, eleventh edition.[University of Phoenix Custom Edition e-text]. Upper Saddle River, NJ: Pearson Education. Retrieved February 2, 2011, from University of Phoenix, rEsource, MGT498 – Strategic Management Course Web site.
top related