• Explain the strategic planning process As we learned from the textbook, there are elven classic steps for the strategic planning process. In this paper, I will explain each of them and discuss the inputs and outputs of each stage. 1. Preparation In preparation stage, the goal is to have a clear understanding about the organization policies, cultures, advantages, disadvantages, its competitors and market analysis. The inputs in this stage are top managers’ kick-off meeting, and the analysis of marketing. The outputs in this stage are marketing report, and organization basic information summary report. 2. Review and revision of vision/mission/values In review and revision of vision and mission values stage, the goal is to establish passionate …show more content…
The inputs in this stage are a strategic plan basis, communication meetings, and interviews with top executives. The output in this stage is a refined strategic plan. 7. Review of the strategic plan In review of the strategic plan stage, the goal is to review and update the strategic plan. The inputs in this stage are top executives reviews, meeting notes, updated records, problems and issues records, a strategic plan basis, and communications. The output in this stage is the updated strategic plan. 8. Approval of the strategic plan In approval of the strategic plan stage, the goal is to get approval for the updated strategic plan. The inputs in this stage are all top stakeholders communication and feedbacks, and the updated strategic plan for review. The output in this stage is the approved strategic plan. 9. Communication of the strategic plan In communication of the strategic plan stage, the goal is to communicate with all related departments for the strategic plan. The inputs in this stage are weekly review meetings, monitoring progress, work performance results and assessments. The outputs in this stage are meeting notes, communication reports and strategic plan progress report 10. Predetermined reviews against the …show more content…
SWOT analysis includes organization strengths, weaknesses, opportunities, and threats analysis. It can clearly show what the advantages of the organization are, what are the disadvantages for the organization. It helps the stakeholders establish a good understanding about XYZ credit union bank. The benefit for SWOT analysis when XYZ bank creates a strategy is a well understanding of the organization, which includes the internal analysis and external environment analysis. It provides a line to stakeholders to make strategic plan and strategies for achieving the organization goals, missions, and its vision. The cost is taking resource to take time to collect the information, communications, and interview with top executives and marketing
What types of strategies do you recommend based on your analysis ? SWOT Analysis is a strategic method that is implemented by a company, in order to determine their Strengths, Weaknesses, Opportunities and Threats regarding a business undertaking. The company defines their objective and determines what the external and internal elements are that can have a positive or negative impact on reaching their goal. The purpose of every SWOT analysis is to recognize what the main internal and external factors are that are vital in attaining the objective of the firm.
These stages are integral to the research process and require careful consideration and planning.
Each of the ten departments will individually be subjected to the model concurrently to the eight steps provided for in the model. For example, the various departments will be subjected to a given step in the transition and after successful undertaking; the process is shifted to the next step of the transition. 1. Establishing a sense of urgency The first stage of the model is to establish the prevailing sense of urgency by the management of KSA Motors towards satisfying the needs of their employees.
The resources incorporated into a new strategic plan can be used to determine, vision, mission, goals, values, timelines, objectives, and roles and responsibilities ("Strategic Basics," n.d.). The strategic plan is meant to help PetSmart stay focused, and to ensure that the management team is working toward the same goals. Of course, PetSmart will need to assess and adjust direction as it moves forward, because of the changing environment. For example, a football team does not run the same play over and over and expect to win the game. The coach has to assess and adjust the direction of the players, because the game (environment) is changing.
This is the first stage, where people are usually willing to analyze what causes disagreement, and listen the other party. Step two begins with listing alternatives and coming up with possible solutions. Although we did not see Gerry arranging his options directly, we can conclude that he was considering whether to talk to his friend first, or go to one of the Coaches. The next two processes involve evaluating alternatives and choosing the best option.
Unlike the other stages you are looking at all of the views on a topic, the negative and the positive. Chafee states, “We have a responsibility to explore every perspective, evaluate the supporting reasons for each, and develop our own informed conclusions that we are prepared to modify or change based on new information or better
A SWOT analysis can be done for any company, product, place, industry, or person. They can serve as a precursor to any sort of company related action, such as exploring recognizing new initiatives, making decisions related to new policies, identifying possible areas for change and improvising. Answer: (b): SWOT analysis is performed to improve business operations by taking into account the Strength, weaknesses, Opportunity and Threats.
BSBOPS601 Task 1 Questions 1. Outline three reasons why a company may choose to develop a business plan. ● It provides direction for your organisation, describes your objectives, maps out how to achieve your objectives, and assists with the management of potential impediments. ● Gives you control over your business - The planning process helps you comprehend the different dynamics and components that might affect your success. If you're already in business, taking a step back to examine what's working and what needs to be changed might be advantageous.
The fourth step is to get the proposal approved. The fifth step is to make sure the policy is executed as intended. The sixth and final
Abstract The strategic change cycle is one of the processes within strategic planning. This cycle is a ten-step process created to assist organizations in meeting their mandates, satisfying their missions, and constructing public value. “Strategic planning is intended to enhance an organization’s ability to think, act, and learn strategically” (Bryson & Alston, 2011). Introduction Strategic planning is “a deliberate, disciplined effort to produce fundamental decisions and actions that shape and guide what an organization (or other Entity) is, what it does, and why it does it” (Bryson & Alston, 2011).
Performance Review: Review process ensures that leaders and team members meet regularly to discuss strengths and development opportunities. Many team members meet with their leader four times a year to discuss business goals, performance, development and career goals, and all team members participate in a formal performance review once a year. Feedback Employee feedback is the core of personal and professional growth at Target Company, Feedback can help an employee get better at what they do, and surprisingly employees crave feedback. The company provide the employee with continues feedback, as a return the employee being more commitment and aware of all the job
INTRODUCTION Burger KAMI fast food restaurant which served to prepare the burgers were different from those found in Malaysia. Burger was necessarily meet the aspiration of the people of Malaysia for meat produced meat to make hamburgers come from fresh meat. We produce our own beef burger with certain processes to be used as a meat burger. We have the concept of serving fast food to suit local tastes with fast and efficient service in a comfortable and relaxing environment. Our company will also sell fast food service, eco-friendly appeal to the price conscious, health-minded consumers.
Organisations have long struggled to retain employees without pouring in too many resources into incentives, however there are many other factors that influence the motivation for an employee to work for an organisation. The following factors are very important to retaining employees: ➔ Vision and Mission: Each organisation has a vision set by its leaders, a ground basis on which it stands for. This vision is the key for driving innovation, research and development for the company. Vision is also the driving force and motivation for its employees, to push their limits and to outperform the competition.
It is the planning before the action. In includes many activities like making decisions, making strategy for organization etc. At this time strategic planning is an important part of strategic management. Strategy describes how the goal achieves by using the available resources or what kind of resources they need to achieve the goals. This strategy is used when the organization wants to set the goals and wants to make the planning to achieve these goals by available resources.