Operations Management homework help. PLANS Assignment
Strategic Management Plan – Part II (1650 words)
Book: Pearce, J. A., & Robinson, R. B. (2015). Strategic Management (14th ed.). New York: McGraw-Hill/Irwin. (ISBN: 9780077862510)
Important Note: When organizing/writing your strategic management plan, use professional APA formatting and also continue using the: Module 7: Strategic Management Model provided in module 7 and also found in this module. This model is also located within the PowerPoints and textbook.
- Also, when submitting your 2nd part of this final project, submit the master file including the complete strategic management plan.
Picking up where you left off with Final Project Part I, use the questions and tasks below as a guide in developing the 2nd part of your strategic plan. It should be noted that everyone is encouraged to use any other relevant information beyond the questions below to showcase your strategic planning skills learned in this course. In addition to the book, be sure to cite and use outside scholarly research where appropriate to support this plan. Furthermore, using keyword internet searches like Strategic Planning or Strategic Planning Templates will give you access to examples which will guide you with additional ideas.
- In a previous phase of the strategic plan, you developed long-term objectives for your company. Using these as a guide, document the short-term objectives and the subsequent functional tactics that will guide the implementation of your strategy. Use your book and research as a guide to how this should be done and be sure to include the specific departments or people that will be responsible for each of the functional tactics.
- Create a five-year timeline for implementing the strategies. Also for this phase, describe your organization’s culture. Pay particular attention to the management styles; the decision-making process; communication patterns, employee attitudes towards authority, work, productivity, and risk; territorial feelings; levels of cooperation between departments; attire; reward system; values; and deeply held beliefs within the organization. What stories, if any, has become part of the folklore of the organization, passed down to new employees?
- Draft a budget for your organization estimating the costs and expected revenues from implementing the strategies that you have identified and use a five-year time horizon.
- Also, test your grand and functional strategies against the culture and based on this test, are all the strategies doable or will a change in strategy or culture be required? Remember, one need not discard all the strategies if a few require alteration. If you cannot change the strategy or the culture, how might you implement the strategy by “managing around the culture?”
- Establish a structure for your organization and provide a diagram of the structure. Also, explain how the structure supports your grand strategy and select critical success factors for your organization. Why did you choose these factors?
- Be sure to incorporate any needed diagrams or illustrations within the master document. For example, this could be the budget copied and embedded from Microsoft Excel into your Microsoft Word document holding the master strategic management plan. For the diagrams, I would encourage students to explore the smart art features with Microsoft Word.
- As your abstract for the final plan, write an executive summary for your organization which in this case will be the overall purpose of your plan and should be no more than about a ½ page. (Hint:If you have never written an executive summary, use a keyword internet search Strategic Plan Executive Summary to see examples.