Reference no: EM131547282
Strategic Plan
Strategic Plan Assignment
The ability to think strategically and make choices based on solid analysis and evaluation, in order to capitalize on achieving optimal results when applying limited resources of the firm, are at the core of this strategic initiative plan.Strategic initiatives act as the vehicle to accomplish strategic goals.Strategic initiatives translate vision into reality.The strategic management process enables organizations to achieve objectives through three stages: strategy formulation, strategy implementation, and strategy evaluation.
For this assignment, create a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan that seeks to increase your organization's competitive advantage.Your strategic plan should aim to innovate.Throughout the development of your strategic plan consider your organization's responsibility in the greater social good from a Christian perspective and how your plan address ethics, cooperate social responsibly and sustainability.Globalization brings both benefits and challenges in the business sphere.Be sure to consider how globalization impacts your strategic plan and address any international considerations if needed. Your strategic plan will be completed throughout the course in Topic 1, Topic 3, Topic4, Topic 5, Topic 6, Topic 7, and Topic 8.Be sure to address instructor feedback when possible.
Part 1: Overview
Imagine you need to present your initial pitch for your Strategic Initiative Plan.Create a 5-8 slidePowerPoint presentation with speaker notesthat seeks to get permission from key stakeholders.
In your presentation, address the following:
1. Identify the type (market entry, market expansion, merger, and acquisition) of Strategic Plan that you will be creating.
2. Provide the vision, mission, and values of the organization.
3. How do organization values drive the culture?
4. What is the culture you intend to build, or exists, today?
5. What is your competitive advantage?
Provide three to five sources in your presentation.
While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.You are required to submit this assignment to Turnitin.
Part 2: External and Internal Assessment
An environmental scan seeks to ensure your original pitch is viable (Part 1: Overview).External and internal assessment tools are utilized your to ensure strategic initiative is viable. You may find after completing your environmental scan your strategic initiative idea will change.The environmental scan helps you develop Key Performance Indicators (KPIs), which will help focus the application of limited resources to produce above-average returns. During your scan, address the following:
Internal: Identify your strategic initiative using various internal assessment tools to evaluate your organization's strengths and weaknesses in functional areas of business which include
- Management
- Marketing
- Finance
- Accounting
- Productions/operations
- Research and development
- Management information systems
External: Identify your strategic initiative using various external assessment tools to evaluate outside trends and events outside the control of the organization, and the industry.
Create a 5-10slide PowerPoint presentation that shows the results of your environmental scan.Include the following:
- Identify what you found in your environmental scan.
o What did you learn about the industry?
o What did you learn about your organization?
- Include the external and internal assessment tools you used at the end of your presentation as an appendix.
o How did you apply the results of your internal and external assessment tools in your decision making process.
- Describe what you learned during the process including key issues that will be reviewed going forward.
o How does this challenge or support your original vision/concept?
o What is emerging from your learning?
- Outline the preliminary strategic initiative plan.
o How have you considered the selected organizations culture within the context of implementing your strategic initiative plan?
Provide three to five sources in your presentation.
While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
You are required to submit this assignment to Turnitin.
Part 3: Organizational Chart and Operations Chart
Organizational structure is a factor in implementing your plan.Using a graphic organizer, create an organization chart.Be sure the graphic organizer describes the relationships between people.
Completing the "Operations Chart," begins to provide a plan of how strategic initiative is executed.Be sure the "Operations Chart" is in the context of the Organization Chart.
This assignment uses a rubric.
Part 4: Marketing
Consider if your strategic plan is a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan.Deciding who the target market is and determining their demographics, behaviors, motivation, needs, and goals is essential because the target market drives the marketing plan.This is typically done through studying research and data related to how potential customers are willing to invest their time and energy. Additionally, by deciding who potential customers are, deciphering their needs, and likes and dislikes, learning about their lifestyle, and observing how the target market behaves, creating a brand that appeals to these customers is possible.
Createa 15-20slide PowerPoint with speaker notes that explains your marketing strategy.Refer to the Marketing section of "Operations Chart" that was due in Topic 4.Based on your research and experience, your ideas may have changed and can be modified at any time during this plan.
Address the following:
1. What is your target market?
2. What is the size of your target market?
3. What resources do you believe would be required to implement your plan?
4. How will you reach your plan?
5. How does your marketing strategyseek to achieve your vision? How will you measure if the marketing strategy is achieving your vision?What are the indicators to identify this?
6. What type of leadership and innovative qualities do you plan to implement in order to execute your marketing strategy?
Provide three to five sources in your presentation.You are required to submit this assignment to Turnitin.
Part 5: Financials
A projected financial statement analysis seeks to forecast the impact of various implementation decisions.The pro forma financial statement can be part of the risk analysis of strategic plan.The goal of this assignment is to ensure your strategic plan is viable financially.In other words, does it create value for the firm?
Consider the cost structure and revenue streams for your strategic initiative plan. Research and data collected so far and will likely change once your product or service is commercialized. Each statement should address financial components of features, expenses, and sales of your product or service. It is typical for net income to be negative at this point. Do not assume that you have sales at this point unless you have sold your product or service.
Research the following if your plan is entrepreneurial:
1. Balance sheet
2. Income statement
3. Statement of cash flow
4. Fixed and variable expenses
5. Startup expenses
6. Breakeven analysis
Research the following if your plan is a market expansion plan for an existing organization, or a mergers and acquisitions plan:
1. Balance sheet
2. Income statement
3. Statement of cash flow
4. Fixed and variable expenses
5. A projected budget
6. Breakeven analysis
Complete the "Projected Financial Statement Analysis (Pro Forma 3-Year Financial Plan)"including the "Questions" tab, "12 Month P& L" tab, "Year 1" tab, "Year 2 P&L" tab, and "Year 3 P&L" tab.The first year is monthly and the second and third year are presented quarterly.Please note the questions in the "Questions" tab may be answered at different points in completing the Profit and Loss information.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
Part 6: Critical Milestones
Gantt Chart
Refer to Gantt chart resources in the topic readings.Create a Gantt chart that displays 36 months, using the Office Timeline tool or any other tool to produce a Gantt chart.Be sure to include rational 1-36 months
Create a Gantt chart that outlines multiple critical milestones.
Summary
In a 250-300word summary, address the following:
- Include rationale for your Gantt chart.
- Identify one critical risk you could encounter that could prevent you from meeting each of your goal/objectives.
- Develop a contingency plan for the identified risk.Explain how this could maximize management efficiency and the allocation of resources.What leadership qualities are essential when dealing with the identified critical risk?
Provide three to five sources in your presentation.You are required to submit this assignment to Turnitin.
Part 7: Executive Summary and Consolidated Presentation
Executive Summary
Write a 500-750word executive summary that seeks to spark interest in potential investors/stakeholders.The goal of the executive summary is to create an opportunity for investors/stakeholdersto consider the full details of your Strategic Plan and then decide to provide support.
This assignment uses a rubric. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
Create a consolidated Strategic Plan PowerPoint in 25-30 slideswith speaker notes that is directed towards interested investors/stakeholders.
Address Parts 1-7 and include improvements from better understanding of the concepts, strategies, and instructor feedback.
Address the following:
- The presentation seeks to explain how your competitive advantage is achieved through your strategic initiative plan.
- Describe why your organization's mission and vision seek to promote the greater social good from a Christian perspective.
How does your organization or perhaps even your plan accommodate an organization's responsibilities to the greater social good, from a Christian perspective?
- Include how your plan address ethics, cooperate social responsibility, and sustainability.
- Describe how your plan utilizes your leadership skills to encourage innovation within your organization.
- Include an explanation of the global and international considerations in your strategic plan.
Provide three to five sources in your presentation.
While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.