Strategic Planning Assignment Help
3500 words with 20 references
TABLE OF CONTENT
- TASK 1: General environmental analysis and existing business plans
- TASK 2: Determine strategic options
- TASK 3: Implement and Evaluate a Strategy
References – BU Harvard Referencing method
- Task 1
|Using appropriate tools analyse the environment and identify the key factors which are currently affecting your organisation. Explain the importance of analysis external and internal environment when determining strategy. (Assessment Criteria 1.1, 1.3)||Discuss the theoretical argument of why it is important to analyze the environment.
Use environmental analysis or scan tools such as SWOT and PESTEL, you can additionally use competitor analysis (5-force), industrial analysis and/or Value Chain.
|Identify the key stakeholders and analysetheir needs and expectations of the organisation(Assessment Criterion 1.2)||Conductstakeholder analysis to identify stakeholders and discuss their business needs and expectation of the products offered. (No risk analysis is required).|
|Using an appropriate model, evaluate the organisationscurrent product range and considering its reputation for quality and price, its overall position within its current market. (Assessment Criteria 2.1,2.2)||– Use appropriateproduct/market analysis model (or positioning analysis) as basic for assessing and discussing all products.
Highlight the current market’s characteristics.
|Identify the organisation’scurrent strategy. With reference to your environmental analysis, evaluate the competitive strengths and weaknesses of its current business strategy. (Assessment Criterion 2.3)||Discussthe current strategy. (Porter’s generic strategy with specific explanation)
Evaluate the strengths and weaknesses of the current strategy.
- Task 2
|Using appropriate tools develop strategic options for the organisationand based upon your general environmental analysis, propose recommendations for a future strategy. This should consider
• Generic competitive strategies which the organisationcan adopt (Assessment Criteria 3.1, 3.2)
• Service / product expansion options (Assessment Criterion 3.3)
• Criteria which can be used to assess the suitability and viability of strategic options (Assessment Criteria 3.1, 3.2, 3.3)
|Thisis to formulate a strategic plan.- Developplan generic strategies and justify.
-Use Ansoff’smodel for expansion discuss different options and elaborate.
-Compare and evaluation market and product strategies with supporting discussion.
-Argue with the new strategies effectiveness and strengths (Justification)
|Before presenting a brief strategic plan which considers
• the impact of the recommendation on stakeholders identified in task 1 and how their participation can be secured (Assessment Criterion 4.1)
• implementation iestrategic growth / retrenchment options (Assessment Criterion 4.2)
• likely resource implications for strategy implementation (Assessment Criterion 4.3)
|– Discusshow the new strategic plan will affect individual stakeholders and how to engage them
– Discuss the growth options and/or exiting f products/markets
– Present resources such as finance, human resources, IT and other strategic resources needs.
- Task 3
|a) Discuss how and why the strategy implementation needs to be planned and develop a schedule showing likely key tasks to achieve this. (Assessment Criteria 6.1, 6.2)||– Discusswhy strategic implementation is important- Discuss with support of implementation plan including timeline and key milestones. (when to do what)
– Include Communication Plan
– How to measure and monitor the new strategy implementation.
|b) You need to prepare an explanation of the strengths of your plan to any potential future lenders / funders and so it should
• Determine what organisationalvalues the proposed strategy will depend upon and how these align with the current organisational values(Assessment Criterion 5.1)
• Include an appropriate vision and mission statement for the organisation(Assessment Criterion 5.2)
• Detail appropriate objectives for the coming year which will assist the organisationin achieving your proposed strategy (Assessment Criterion 5.3)
• Explain how the organisationcan measure and evaluate the progress and success of the strategic plan that you have proposed once it has been implemented (Assessment Criteria 5.4, 6.3)
– What are your organizational values and identify the new values for support the new strategy if there is any.
– How the values align with the strategy?
– Present vision and mission statement content
– What are the business objectives for the coming year?
– What are the measurement of strategic plan? Timeline and milestones of strategic plan.
– (If you consider discuss some parts of the task 3 before going into task 1 making the flow smoother, do so.)
REFERENCES (PLEASE USE BU HARVARD REFERENCING)