>> Business Management
Think about your current or former place of employment or a business where you would like to work.
Write a 350- to 700-word paper in which you address the following:
- What is the company's mission statement?
- What is the company's vision statement?
- What role do these have on the way the business operates? Do the company's actions seem to align to their vision and mission statements?
- How might the mission and vision of the organization affect or guide you as an employee or manager in the company?
- If the company does not have a mission or vision statement, what might be the effect of that?
Write a 1,400- to 1,750-word paper in which you explain the importance of innovation in your selected business's vision, mission, and values, and determine your business model for this new division. Include the following:
- Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service.
- Describe how the division addresses customer needs and achieves competitive advantage.
- Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
- Explain how the vision, mission, and value of the new division align with the company's mission and vision.
- Summarize how the vision, mission, and values guide the division's strategic direction.
- Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.
Conduct an internal and external environmental analysis, and a supply chain analysis for your proposed new division and its business model.
Create a SWOT table summarizing your findings. Your environmental analysis should consider, at a minimum, the following factors. For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.
External forces and trends considerations:
- Legal and regulatory
- Competitive analysis
Internal forces and trends considerations:
- Processes and systems
- Strategic capabilities
- Intellectual property
Write a synopsis of no more than 1,050 words in which you analyze relevant forces and trends from the list above. Your analysis must include the following:
- Identify economic, legal, and regulatory forces and trends.
- Critique how well the organization adapts to change.
- Analyze and explain the supply chain of the new division of the existing business. Share your plans to develop and leverage core competencies and resources within the supply chain in an effort to make a positive impact on the business model and the various stakeholders.
Identify issues and/or opportunities:
- Identify the major issues and/or opportunities that the company faces based on your analysis.
- Generate a hypothesis surrounding each issue and research questions to use for conducting analysis.
- Identify the circumstances surrounding each issue; classify the circumstances; attribute the importance of each classification; and test the accuracy of the importance for each classification.
Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.
Identify key trends, assumptions, and risks in the context of your final business model.
Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your business and the outcomes of your SWOT analysis and supply chain analysis.
Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:
- Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as:
o Market share
o Revenues and costs
o Competitive position
- Customer Value Perspective, which includes strategic objectives in areas such as:
o Customer retention or turnover
o Customer satisfaction
o Customer value
- Process or Internal Operations Perspective, which includes strategic objectives in areas such as:
o Measure of process performance
o Productivity or productivity improvement
o Operations metrics
o Impact of change on the organization
- Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as:
o Employee satisfaction
o Employee turnover or retention
o Level of organizational capability
o Nature of organizational culture or climate
o Technological innovation
Evaluate potential alternatives to the issues and/or opportunities identified in the SWOT Analysis paper and table you completed in Week 3.
Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions that includes the following:
- Identify potential risks and mitigation plans
- Analyze a stakeholder and include mitigation and contingency strategies.
- Incorporate ethical implications
Develop a metric and target for each strategic objective using a balanced scorecard format.
- Example: a strategic objective in the shareholder or financial perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, "The percentage of increase in market share." The target is the specific number to be achieved in a particular time period. The target for the metric of "Increase market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years.)
Outline a brief communication plan discussing how you will communicate the company's strategic objectives that includes the following:
- Define the purpose.
- Define the audience.
Identify the channel(s) of communication and why you selected that channel. Write a 700- to 1,050-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.
- Include marketing and information technology strategies and tactics.
- Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
- Determine the best possible options for evaluating the strategic plan.
- Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.
- Include in this section the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation.
Write a 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.
Note: Any investor should be eager to meet with you after reading your executive summary.