Purpose of this assignment
Purpose of this assignment provides full strategic review of an organisation based on research information. The review includes an assessment of the organisation’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 monitored and evaluated.
For this assessment, you can choose own organisation or one that you are familiar for example, Nestle, Toyota, Honda, Air Asia, Microsoft, DHL, FNI, Pepsi etc. You have been asked to submit a report to chosen organisation board of directors, prepare a report based on full strategic review of the chosen organisation and develop a strategy plan for an organisation. It should cover review an organisation’s existing business plans, using appropriate tools and techniques, the competitive environment, develop strategic options using modelling tools and then develop a strategic plan, giving due consideration to the core values, vision and mission of the organisation. You also need to prepare implementation of a strategic plan and the creation of monitoring and evaluation systems to measure progress. Your report should include the following tasks:
Task 1 (LO1 AC 1.1, 1.2, and 1.3)
The external organisation comprises of all the entities that exist outside its boundary, but have significant influence on its growth and survival. An organisation has little or no control over its environment but needs to constantly monitor and adapt to these external changes, a proactive or reactive responses leads to significantly different outcome.
Based on the chosen organisation information and further research, You are required to:
· Explain the importance of external factors affecting the chosen organisation;
· Analyse the needs and expectations of stakeholders of the chosen organisation;
· Analyse the major changes taking place in the external environment that will affect strategy.
Hints: You are required to demonstrate understanding and explain the importance of the various external factors that impacts the chosen organisation and also required to use tools and techniques i.e. STEEP and SWOT to analyse external environment as well as how significant changes may cause orgnisation’s strategic plans to change. You are required to analyse the needs and expectations of all stakeholders and how it influence strategic decision making within the organisation.
Task 2 (LO2 AC 2.1, 2.2 and 2.3)
Based on the chosen organisation information and further research, you are required to:
· Use appropriate tools to analyse the effects of current business plans;
· Review the position of the chosen organisation in its current market;
· Evaluate the competitive strengths and weaknesses of an organisation’s current business strategies
Hints: You are required to use appropriate tools e.g. value chain analysis, Porter’s Five Forces, Boston growth-share (BCG) matrix, SWOT to analysis the effects of current business plans and evaluate the competitive strengths and weaknesses of current business strategies related to chosen organisation. You are required to review current position in the marketplace for the chosen organisation.
Task 3 (LO3 AC 3.1, 3.2, and 3.3)
Strategic options are creative alternative action-oriented responses to the external situation that an organisation (or group of organisations) faces. Strategic options take advantage of facts and actors, trends, opportunities and threat of the outside world. Strategic options can be identified after an institutional assessment (Refer Task 1 and 2), keeping in mind the aspirations of an organisation. The tool ‘Strategic options’ helps to identify and make a preliminary screening of alternative strategic options or perspectives.
Based on your chosen organisation, required to:
· Use modelling tools to develop strategic options for the chosen organisation;
· Develop a comparative understanding of activity from organisations in the market;
· Create options to form the basis of future organisational strategy
Hints: You are required to use modelling tools e.g. Ansoff Matrix, Porter’s generic strategies, Mintzberg’s strategies to develop strategic options and develop a comparative understanding of activity from chosen organisation in the market. You are required to create options if the chosen organisation entering into new market or developing a new products.
Task 4 (LO4 AC 4.1, 4.2 and 4.3)
Strategic planning provides an organization with a clear purpose and direction. Everyone in an organization needs to know what you produce, create, sell, service or do, who your target customers are, and how you compete. A good strategy will balance revenue and productivity initiatives. Without strategic planning, businesses simply drift, and are always reacting to the pressure of the day. Organizations that don’t plan have exponentially higher rates of failure than those that plan and implement well.
In light of the above information and further research on chosen organisation, you are required to:
· Propose a suitable structure for a strategy plan that ensures appropriate participation from all stakeholders of an organisation;
· Develop criteria for reviewing potential options for a strategy plan;
· Construct an agreed strategy plan that includes resource implications.
Hints: You need to write a suitable strategic plan covered all stakeholder participation in its formation and it covers criteria for reviewing potential options related to chosen organisation. You are required to construct an agreed strategy plan including resources needed to implement the plan.
Task 5 (LO5 AC 5.1, 5.2, 5.3 and 5.4)
While many people believe that formulating an innovative and unique strategy is critical and by itself sufficient to lead a firm to success in today’s business world, ensuring that such a strategy works is equally as important. Executives should pay careful attention to the implementation of strategies to avoid common pitfalls that result in failure. A number of approaches that greatly enhance the effectiveness of strategy implementation can be employed. Indeed, good strategic management is a function of people actively considering strategy as they make day-to-day decisions in an ever-changing world.
· Compare core organisational values (ethical, cultural, environmental, social and business) with the current business objectives of the chosen organisation;
· Develop appropriate vision and mission statements for the chosen organisation;
· Produce agreed future management objectives for the chosen organisation;
· Develop measures for evaluating a strategy plan.
Hints: You are required to compare chosen organisation values against current business objectives then need to develop appropriate vision and mission statements and produce agreed future management objectives. You also need to develop measures for evaluating chosen organisation strategy plan.
Task 6 (LO6 AC 6.1, 6.2 and 6.3)
For businesses that have a plan in place, wasting time and energy on the planning process and then not implementing the plan is very discouraging. Implementation is a fundamental business practice that’s critical for any strategy to take hold. The strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how. The fact is that both are critical to success. In fact, companies can gain competitive advantage through implementation if done effectively. The specific implementation process can vary from organization to organization, dependent largely on the details of the actual strategic plan, but some basic steps can assist in the process and ensure that implementation is successful and the strategic plan is effective.
· Develop a schedule for implementing a strategy plan for the chosen organisation;
· Create appropriate dissemination processes to gain commitment from stakeholders in chosen organisation;
· Design monitoring and evaluation systems for the implementation of a strategy plan for the chosen organisation.
Hints: You are required to develop a schedule for strategic plan implementation for the chosen organisation. You are required to create appropriate processes to disseminate information to get commitment of stakeholders and design a system to monitor and evaluate the implementation of strategic plan.
Summary of evidence required by student
Task 1. 2, 3, 4, 5 and 6
You are required to produce a report in typed format according to the tasks given above.
Sources of information
Grant R – Contemporary Strategy Analysis, 7th Edition (John Wiley and Sons, 2010) ISBN 0470747099
Johnson G, Scholes K and Whittington R – Exploring Corporate Strategy, 8th Edition (Financial Times/Prentice Hall, 2008) ISBN 1408206935
Lynch R – Corporate Strategy, 4th Edition (Financial Times/Prentice Hall, 2005) ISBN 0273701789
Mintzberg H, Ahlstrand B and Lampel J – Strategy Safari: Your Complete Guide Through the Wilds of Strategic Management, 2nd Edition (Financial Times/Prentice Hall, 2008) ISBN 0273719580
Stacey R D – Strategic Management and Organisational Dynamics, 6th Edition (Financial Times/Prentice Hall, 2010) ISBN 0273725599
NOTES TO STUDENTS for summission
· Check carefully the submission date and the instructions given with the assignment. Late assignments will not be accepted.
· Ensure that you give yourself enough time to complete the assignment by the due date.
· Do not leave things such as printing to the last minute – excuses of this nature will not be accepted for failure to hand-in the work on time.
· You must take responsibility for managing your own time effectively.
· If you are unable to hand in your assignment on time and have valid reasons such as illness, you may apply (in writing) for an extension.
· Failure to achieve a PASS grade will results in a REFERRAL grade being given.
· Take great care that if you use other people’s work or ideas in your assignment, you properly reference them in your text and any bibliography.
· NOTE: If you are caught plagiarizing, the College policies and procedures will apply.
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