Workbook BSBMGT616 Develop and Implement Strategic Plans

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Workbook BSBMGT616 Develop and Implement Strategic Plans

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BSBDIV601 Develop and

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BSBMGT 616 Develop and implement strategic plans Activity 1a

Objective: To provide you it! an opportunity to c!ec" it! sta"e!olders t!at organisational vision and mission are still !eld to be current and are supported ma"e any c!anges or re#nements to vision or mission statement as re$uired% &evie or develop organisational values to support t!e vision and mission statement and gain support 'or strategic planning process 'rom all relevant sta"e!olders( 1( )nsure )nsure you !ave !ave complete completed d Table Table A( A( Table Table A *!a *!at doe does your organi ganis satio tion do+ do+

,o do you ac!ieve it+

*!o ar are yo your cust ustomersclie lients+

*!at is t!e measurement o' your organisation success+

Aust ustralia lian ,ar ,arda dare suppl upplie ies s !ar !ard and !ome improvement products an provide e-pert advice and service( Australian ,ardare ta"es a to. pronged strategic approac! c!aracteri/ed c!aracteri/ed by product and servic di0erentiation along it! select targeted mar"eting activities( T!e ma mar"et !a !as be been di divided in into target mar"ets or segments: ,ome improvers2 D34s2 tradespersons( Australian ,ardare operations and investment activity are #nanced t!roug! reinvested pro#ts 'rom previous years5 operational activitie and investments(

( T!en T!e n compl complete etewith t!e 'ollo 'olloin ing g Master your semester Scribd  Read Free Foron 30this Days Sign up to vote title  & The New York Not useful *or"p lace e-Times ample *!at c!anges couldbeUseful *!at process could be  Special offer for students: Only $4.99/month.

Mission statement

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adopted+ 8oin it! 333 in c •

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product $uality er'ormance management o' sta *it!in t!e ne-t #ve Sign% action and years% Australian establis! t!e strate !ardare ill become a alliance agreemen national brand% and ill it! 333( be accepted as an )stablis! an integral part o' t!e Australian ,ardar !ospitality industry% Melbourne are!o perceived as a "ey Set up agents in ot component in t!e states and outsour success o' !omeare and maintenance !ardare stores% bot! contracts( &evie o' national large and small( budgetary per'ormance and $uarterly #nancial management repo &evie o' store budgets and $uart #nancial managem reports &evie o' pre'erred suppliers to negoti price reductions &evie o' local suppliers to negoti price reductions Australian ,ardare 4nstigate bul" buyi values !ave been t!e negotiations to red same 'or as long as t!e supplier price(  Read Free Foron 30this Days Sign up to vote title organisation !as e-isted( Operate all  Useful Not useful it Cancel anytime. departments =or our sta"e!olders% at !as alays been about optimum capacity steards!ip and about •

;ision statement


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aareness campai Determination o' sta7ng re$uireme and sales s"ills assessment 'or sto )mployee product sales training &ecruitment o' s"il sta0 &esearc! innovatio e-citing products a suppliers to drive custom

Activity a

Objective: To provide you it! an opportunity to clari'y determine in'ormation re$uirements and underta"e or commission researc! to deliver relevant in'ormation( Demograp!ics

Male and 'emale% ages >.6> =ull.time employment An average income o' ?6>%>>> Sluggis! grot! and moderate You're Reading a Preview increase in t!e Australian Unlock full access with a free trial. unemployment #gures may pres an opportunity 'or !ardare and Download With Free Trial !ome.improvement retailers suc as Australian ,ardare( T!is opportunity e-ists despite ot!er retailers su0ering 'rom lo consumer con#dence% poor sale and overseas competition  particularly t!roug! e.commerc Read Free For 30this Days Sign up to vote on title  ,ardare retailers !ave bene#t Useful Not useful   Cancel anytime. 'rom t!e sense among !omeoners t!at no is t!e tim • • •

)conomics


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4nternal researc!

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16.1C( ,ouse!old income survey indica a @? decline in disposable inco due to an increase in interest ra olitical and legal #ndings indica t!at Australian ,ardare employees are or"ing longer !ours T!ere is ne legislation relating labelling re$uirements on all products delivered to Australian ,ardare customers *orld industry report #nding indicate t!at large supermar"et c!ains suc! as Bunnings and Masters are planning ta"e over most smaller c!ains suc! as Australian ,ardare T!e orld industry report !as You're Reading a Preview reported an evolving need 'or Unlock full access with a satis'action free trial. being soug!t by buyer5s in t!e !ardare and !om Download With Free Trialareas are Mar"et orld researc! s!os t! C? o' Australian ,ardare customers no pre'er to order products online ;isits to bric"s.and.mortar store 'or products are declining  and in Read Free Foron 30this Days Sign up to vote title  @C? store sales !ave dropped by Useful Not useful   Cancel anytime. t!e past $uarter Mar"et orld researc! !as repor •

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Mar"et segmentation

olitical

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mar"et s!are T!e mar"et !as been divided into target mar"ets or segments: !ome improvers @ millionH2 D34s  million tradespersons F oners and manage o' small to medium si/ed business a individual contractors up to  millio Iumber o' customers estimated to b up to seven million people( &elevant legislation may include More stringent pac"aging las m allo Australian ,ardare to !ig!lig!t its environmentally sustainable approac! to busines )nvironmental legislation may allo Australian ,ardare to promote its lo impact approac advertising !ile also disadvantaging t!e competition !ic! may need to alter t!eir practices to comply( Australian ,ardare anticipates You're Reading a Preview t!at t!e Australian Government Unlock full access with a 'ocus free trial.in 'uture legislative direct and #scal policy ill be centred Download With Free Trial promoting grot! in t!e 'ace o' continuing international debt cr poor grot! and subdued consumer con#dence( •

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contribute to better global socia and economic outcomes(
Tec!nological

Activity b

Unlock full access with a free trial.

With Free Objective: To provide you it!Download an opportunity toTrial analyse political% economic% social% and tec!nological developments in a global conte-t

1( *!at or"place e-amples can you provide to describe t!e importance e-ploring issues it! a global conte-t% rat!er t!an domestic+

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Special offer for students: no Only $4.99/month. is t!e time to c!oose renovation and !ome improvements rat!er t

selling and moving to an already renovated !ouse(

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delivered to Australian ,ardare customers *orld industry report #nding indicate t!at large supermar"et c!ains as Bunnings and Masters are planning ta"e over most smaller c!ains as Australian ,ardare T!e orld industry report !as reported an evolving need 'or satis'ac being soug!t by buyer5s in t!e !ardare and !ome are areas Mar"et orld researc! s!os t!at C? o' Australian ,ardare custo no pre'er to order products online ;isits to bric"s.and.mortar stores 'or products are declining and in.s sales !ave dropped by @C? in t!e past $uarter Mar"et orld researc! !as reported a E? material s!ortage due to overseas completion% ma"ing @? o' Australian ,ardare products temporarily unavailable T!e industry report s!os an 1E? e-pansion by ot!er competitors F interstate and internationally Strategies adopted by eac! major competitor !ave created a price  Overall sales !ave decreased by ? as a result 'or t!e #g!t 'or mar s!are

Activity c

Objective: To provide you it!You're an opportunity to see" advice 'rom appropriate Reading a Preview e-perts !erever necessary Unlock full access with a free trial.

*!at is your or"place e-perience in see"ing in'ormation 'rom an e-pert+ Download With Free Trial Advantages Disadvantages Additional s"ills(
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giving advice based on e-perience and observations !as almost become a lost art among todayKs see o' KconsultantsK% !o tec!nically s!ould call t!emselves independent contractors% not consultants( Outsider perspective( T!e imaginative user o' outsiders can encourage eac! o' t!e types o' mind'ulness just mentioned( 8ust as a traveler to a 'oreign culture notices !at people indigenous to t!at culture ta"e 'or granted% an outsider in a company may notice !en t!e corporate natives are 'olloing !at may no be irrational traditions or destructive myt!s(

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!ide s!oddy or"( ,ire consulta based on re'errals and give t!em smaller initial projects so t!at y can judge t!em based on result rat!er t!an mar"eting glit/(

Activity d

You're Reading a Preview Objective: To provide you it! an opportunity to identi'y and consider strengt! Unlock full access with a free trial. and ea"nesses o' e-isting and potential competitors and allies and analyse organisation5s strengt!s% ea"nesses% opportunities and t!reats Download With Free Trial S*OT )ST Strengt!s olitical and legal environment T!e political environment includes )-cellent sta0% !ig!ly s"illed at legislation and government legislati sales% product demonstrations and direction( e-plaining product 'eatures Great locations  Read Free Foron 30this Days Sign up to vote title T!e last to types o' legislation roduct o0erings t!at meet or  ma Useful Not useful   particularly important 'or Australian e-ceed competitors5 o0erings in Cancel anytime. Special offer for students: Only $4.99/month. ,ardare5s business and mar"eting $uality and innovation Strong mar"eting budget activities( As noted% sustainable •

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responsible c!oices No customer loyalty to brands

Opportunities Strong mar"et potential2 a signi#cant percentage o' t!e target mar"et still not visiting Australian ,ardare on a daily basis )-tension o' business !ours )-pansion o' e.commerce to consolidate online advantage Ie partners!ips it! suppliers o' innovative suppliers Opportunity to bul" buy and reduce prices t!roug! economies o' scale Opportunities to mar"et and di0erentiate Australian ,ardare on t!e basis o' training% product range% product innovation •

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disadvantaging t!e competition% ! may need to alter t!eir practices to comply(

=inally% Australian ,ardare anticipa t!at t!e Australian Government5s 'o in 'uture legislative direction and #s policy ill be centred on promoting grot! in t!e 'ace o' t!e continuing international debt crisis% poor grot and subdued consumer con#dence(

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)conomic environment 4nterestingly% sluggis! grot! and moderate increase in t!e Australian unemployment #gures may present opportunity 'or !ardare and !ome. improvement retailers suc! as Australian ,ardare( T!is opportuni e-ists despite ot!er retailers su0erin T!reats 'rom lo consumer con#dence% poo and overseas competition
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!ealt!y community involvement(

Tec!nological environment 4nternet% in'ormation and social netor"ing tec!nologies continue to and provide ne c!allenges You're Readingevolve a Preview opportunities 'or mar"eting( Austral Unlock full access with a free trial. ill continue it! its ,ardare e0ective use o' its ebsite to promo Download With Free Trial and sell products and social netor" to reac! its target mar"ets( Activity e

Objective: To provide you it! an opportunity to consider cooperative venture Master your semester with Scribd  t!at supported by ris" and cost.bene#t analyses% areupFree consistent it! Read Foron 30this Days Sign to vote title t!e  organisational vision% mission and values% and provide 'or due diligence & The New York Times Useful Not useful   Special offer for students: Only $4.99/month.

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4 understand !at is re$uired it! a ris" and cost.bene#t analysis in t!e conte-t o' a cooperative or joint venture

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to client at no c!arge( 333 pays Australian ,ardare cost price 'or t! delivery and installation o' t!e mac!ine% t!en pays t!e remainder o t!e purc!ase price on a 1.mont! repayment program Master Traders ;enture &is"s F 1( artner not 'ul#lling t!eir #nancial commitment ( Association it! a non.indust partner may !ave a negative e0ect on Australian ,ardare customer base @( artner access to Australian ,ardare trade secrets

;enture: > eac!( =our s!os costing 1>%>>>% selling 1> mac!ines per s!o at >>( )ac! ould see a pro#t o' 1>%>>> 'or t!e You're Readingyear a Preview and a brea".even a'ter to s!o Unlock full access with a free trial.

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333  Read Free 30this Days Sign&is"s up to vote on title ;enture: FFor > products Useful Not useful   Cancel anytime. implemented in t!e #rst year( 4ntere costs >%>>> p(a(% pro#t 1>>%>>>(

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Supporting data 'or trends% and cost.bene#t analysis

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Objective: To provide you it! an opportunity to c!ec" t!at analysis o' interna and e-ternal environment is consistent it! t!e perspectives o' ot!er in'orme people )-ample used Analysis process

S*OT analysis 4n t!e organi/ation )-isting and potential competitors )-isting and potential allies

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Objective: To provide you it! an opportunity to document relevant researc! a bac"ground 'or inclusion in t!e strategic plan% 'ormulate strategic objectives a strategies needed 'or t!e 'uture% detail eac! strategy it! an assigned priority time'rame% responsible parties and measurable per'ormance indicators and circulate strategic plan 'or comment% support and endorsement You're Reading a Preview Areas you !ave 3our or"place Ot!er e-amples Unlock full access with a free trial. addressed e-perience Documenting relevant Download With Free Trial researc! and bac"ground data =ormulating strategic objectives and strategies Detailing eac! strategy it! an assigned priority% a time'rame and  Read Free Foron 30this Days Sign up to vote title responsibility  Useful Not useful   Detailing measurable Cancel anytime. Special offer forper'ormance students: Only $4.99/month. indicators

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company maga/ine% nespaper or Qiers(

)valuate t!e communication e0orts% and Developing and completing strategic plan accordingly(

DEVELOP & IMPLEMENT


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company

T!e persons !o ta"ing t!ose responsibilities <)O% <=O%
&emuneration to celebrate success

=ourt! $uar t!is year

)arly o' nepdate company5s S*OT analysis and competitor analysis(
Develop a strategic You're Readingplan a Preview includes critical s"ill sets and sta0 positions needed to success'ully e-ecute Download With Free Trial t!e plan(

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T!e application o' !o t!e strategic plan applies to t!e Read Free For 30this Days particular group t!at Sign up to vote on title is being addressed  Useful  Not useful Cancel anytime. s!ould be discussed in some detail(

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Dra't a set o' tal"ing points t!at you and your team can use to communicate progress and direction(

4mplement t!e strategic plan.

&evie and evaluate t!e strategic plan.

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=unctional area dependencies Status o' "ey project deliverables


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roject team

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*ee"ly roject sc!edule 4ssues log Naunc! c!ec"list

Summary o' progress Stopping critical tas"s 4ssues &is"s #nancials

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Summary o' progress =unctional issues =unctional ris"s =unctional #nancials Milestone progress
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report card You're Readingroject a Preview Unlock full access with a free trial. Sta"e!older

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Master your with Scribd Activitysemester a  Read Free Foron 30this Days Sign up to vote title  & The New YorkToTimes Useful  Not useful Objective: provide you it! an opportunity tocommunicate strategic plan t Cancel anytime.

Special offer forall students: Only $4.99/month. relevant parties% brie' people it! a speci#c role in relation to strategies% u

per'ormance indicators to monitor progress in implementing plan% ma"e

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DEVELOP & IMPLEMENT


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Details in particular detail implementing:

Objective 1 F To sell and service Australian ,ardare products in every state o Australia in t!e ne-t #ve years( All states !ave !omeare and !ardare% apar 'rom t!e Iort!ern Territory% !ere it too" some time to get an agent( •

Strategy aH F Sign% it! 333( R4 progress Milestone progress Overall progress

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>> mac!ines installed p(a( Agreement signed it!in t!e time limit and auction but only 1E> mac!ines installed in t!e past 1 mon T!ere as a sloer upta"e in Iort!ern Territory and Iort! ueensland% due to t!e tourist slump it! t!e strong Australian dollar( Monitor plan and commitment t!roug! periodic up

Strategy bH F )stablis! an Australian ,ardare Melbourne are!ouse( R4 progress Australian ,ardare opens in Melbourne it!in t a'ter Sydney opens 'or business( Milestone Melbourne are!ouse is still not open( progress Overall progress 4t is currently being run on t!e more e-pensive age You're Reading a Preview model( 4mprovements seUnlock t!e company5s core project management s"i full access with a free trial. maintain t!e sc!edule% to drive completion and to manage competitive Download With Free cost( Trial

Strategy cH F Set up agents in ot!er states and outsource maintenance contracts( R4 progress Agent agreements and outsource maintenance con 'or Sout! Australia% *estern Australia% nort!ern Terr Tasmania % A

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4mprovements •

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demand(
Strategy eH F Operate all departments at optimum capacity and productivity( R4 progress *ages to turnover ratio o' 1(?( Milestone 1@(E?( Some states still underper'orming( progress Overall progress Strategy still in line it! timetable( 4mprovements
Objective @ F To establis! t!e Australian ,ardare brand recognition in "ey mar"ets over t!e ne-t #ve years( A'ter to #scal years% >? o' our target mar recognise t!e brand and EC? o' t!ose responding said t!e brand reaction as very positive( •

Strategy 'H F )stablis! social% internet and netor"ing mar"eting( R4 progress 1>%>>> clic"s per day on t!e ebsite( Milestone 1%>>> clic"s per day( progress Overall progress Ac!ieved in !al' t!e time allocated( S)O specialist contractor very e-perienced( You're Reading a Preview 4mprovements
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Strategy gH F 8oin it! 333 in co.branding cups and ca'9 banners( Download With Free Trial R4 progress 1>>? o' ca'es it! our mac!ine% using our cups( Milestone Survey reveals only >?H upta"e( progress Overall progress Design and colours not attractive( Strategy introduc it!in time'rame( 4mprovements
Master your semester with Scribd  & The New York Times Useful Not useful   Objective  F To reduce our aste and energy use by 1>? it!in t!e ne-t #ve Special offer for students: Only $4.99/month.

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years( A'ter to #scal years% t!e reduction is E? loer t!an original #nancial

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R4 progress Milestone progress Overall progress 4mprovements

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"* per use person to drop to 1>"*( 1"* per person(

4ntroduced too late in t!e year and not rolled out ac t!e !ole organi/ation( 4mprove communication plan in t!e organi/ation a implement plan since early o' ne-t year% also monit plan t!roug! periodic updates(

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To understand and demonstrate t!e processes involved in creating a strategic plan(

Moving into t!e ne Sydney mar"et% !ere t!e bul" o' products are sol eac! year% and 'rom !ic! a major but ine0ectiveH competitor !as it!dran Ot!er opportunities could be 'ound in strategic alliances it! !omear and !ardare suppliers% !ere mar"et penetration could easily be ac!ieved and costs o' advertising and service could be s!ared T!ere as also concern about t!e rising Australian dollar !aving a seve long.term impact on tourism% !ic! as a major category buyer o' You're Reading a Preview !ome!ere( &aising interest rates t!at are predicted 'or t!e coming ye full access with a free trial. could impact negativelyUnlock on t!e disposable income o' customers T!e concerns o' t!e group ere centred on a global corporation% Bunnin becoming a one stop s!op( T!e resources t!ey ould !ave at t!eir Download With Free Trial disposal in mar"eting% #nance% and !uman resources could be a serious t!reat to Australian ,ardare plans( ,oever% t!ey ould still struggle gain a 'oot!old in a mar"et t!at already !as strong supplierbuyer allegiances% it! most stretc!ing over many years( Global players li"e Bunnings !ave di7culty being adaptable to t!e needs o' nic!e mar"et buyers  Read Free Foron 30this Days Sign up to vote title Anot!er competitor o' note as Masters a large !omeare and !ardar  Useful Not useful  c!ain t!at !ad recently started importing products 'or t!eir customers( Cancel anytime. Special offer for students: Only $4.99/month. T!ere as tal" o' t!em selling t!e products as !olesalers( T!ey certai !ad easy access to mar"ets it! t!eir !omeare and !ardare trade% b •

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Master your semester with Scribd & The New York Times •

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Activities


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Date/timelin es

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Measurable performance indicators To sell and service Australian Hardare products in ever! state of Australia. Sign% action and uarterly Mar"eting general Mac!ines installe establis! t!e manager p(a( strategic alliance agreement it! 333( )stablis! an uarterly Store general Australian ,ard Australian ,ardare managers% general opens in Melbou Melbourne operations are!ouse( managers% ,& general manager Set up agents in Mont!ly Mar"eting general Agent agreemen ot!er states and manager2 ,& and outsource outsource general manager maintenance maintenance contracts( contracts( To increase pro"t mar#ins b! $% in the next "ve !ears. 4nstigate bul" Mont!ly Store general Iumber o' purc! buying negotiations managers% =A&M by t!e container You're Reading a Preview to reduce supplier #nance% audit and price( ris" management Unlock full access with a free trial. committeeH Operate all uarterly <)O% <=O% board o' *ages to turnov Download With Free Trial departments at directors% Store ratio( optimum capacity general managers% and productivity( ,& general manager% =A&M #nance% audit and ris" management  Read Free Foron 30this Days committeeH Sign up to vote title  To establish the Australian Hardare brand reco#nition in ke! market Useful Not useful   Cancel anytime. the next "ve !ears Special offer for students: Only $4.99/month. )stablis! social% Mont!ly Mar"eting general

Person responsible

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Develop and implement energy use aareness campaign(

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Mont!ly

DEVELOP & IMPLEMENT


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Store general managers% general operations managers% ,& general manager%
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aste( "* use reductio

Strategic Action lan

Objective 1 F To sell and service Australian ,ardare products in every state o Australia in t!e ne-t #ve years( All states !ave !omeare and !ardare% apar 'rom t!e Iort!ern Territory% !ere it too" some time to get an agent( •

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Strategy aH F Sign% action and establis! t!e strategic alliance agreem it! 333( R4 progress . >> mac!ines installed p(a(

Strategy bH F )stablis! an Australian ,ardare Melbourne are!ouse( R4 progress . Australian ,ardare opens in Melbourne it!in to years a'ter Sydney opens 'or business(

You'rein Reading Preview Strategy cH F Set up agents ot!er astates and outsource maintenance contracts( Unlock full access with a free trial. R4 progress . Agent agreements and outsource maintenance contracts Sout! Australia% *estern Australia% nort!ern Territory% Tasmania % A
Objective  F To increase pro#t margins by ? 'rom our benc!mar" in t!e ne#ve years( ro#t margins !ave improved by ? in t!e last to #nancial years( Some agent contracts and outsourcing contracts are very e-pensive(

dH F 4nstigate bul" buying negotiations to reduce supplier pric Master your Strategy semester with Scribd  R4 progress . 1>>? o' purc!ase by t!e container load( Read Free Foron 30this Days Sign up to vote title  & The New York Times Useful Not useful   •

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Cancel anytime. Strategy eH F Operate all departments at optimum capacity and productivity(

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Objective  F To reduce our aste and energy use by 1>? it!in t!e ne-t #ve years( A'ter to #scal years% t!e reduction is E? loer t!an original #nancial year benc!mar"s( •

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Strategy !H F Set up innovation and reard programs 'or reducing as use( R4 progress .  suggestions per year2 6 ne innovations introduced p year in relation to reducing aste(

Strategy iH F Develop and implement energy use aareness campaign( R4 progress . "* per use person to drop to 1>"*(

S"ills and Rnoledge Activity &. Ho can !our anal!tical skills be used hen developin# and implementin# strate#ic plan(

Analytical s"ills be used !en Analy/e 3our Organi/ation( 4tKs muc! easier ac!ieve your objectives and !elp you t!in" about !o you can set yoursel' apart 'rom your competitors( Analy/e 3our )nvironment to predict !ere You're Reading a Preview t!ings are moving and e-citing opportunities t!at you s!ould pursue( Anal Unlock full access with a free trial. 3our
). What "nancial implications exist hen proposin# ne strate#ie ro 'orma statements t!at demonstrate t!e possible 'uture #nancial impac t!e various courses o' action available( =or e-amples2 budgets% income statements% balance s!eets% and cas! Qo statements(

Master your semester with Scribd  Read Free Foron 30this Days Sign up to vote title  Wh! is it important that research is accurate and up+to+date( & The New*.York Times Useful Not useful   Cancel anytime.

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you by avoiding asting resources contacting someone !o !as Kgone aa

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4n'ormation Systems: Assessment o' organi/ation% so'tare li'ecycles party contracts or services and in'ormation security
$. What relevant le#islation does !our or#anisation adhere to tha could aect strate#ic plannin#(

T!e primary legislation t!at may need to be considered . . . .

Governance ,uman resources ractice issues Ot!er commitments

. What is the purpose of a 0W1T and P20T anal!sis( T!e purpose o' a S*OT analysis is to create lists o' all o' t!e internal and e-ternal strengt!s% ea"nesses% opportunities and t!reats to in'orm strate planning decisions(

T!e purpose o' a )STN) analysis is to identi'y all o' t!e various e-ternal political% economic% social% tec!nological% legal and environmental 'actors t mig!t a0ect a business( You're Reading a Preview Unlock full access with a free trial. 3. Wh! is it important to have knoled#e of the competitors(

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Downloadare% Withcan Free!elp Trialyou to ma"e your product Rnoing !o your competitors services and mar"eting stand out( 4t ill enable you to set your prices competitively and !elp you to respond to rival mar"eting campaigns i your on initiatives(

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Master your advantage semester with Scribd ea"nesses%  o' your competitorsK and improve your on Read Free Foron 30this Days Sign up to vote title  business per'ormance( 3ou can also assess any t!reats posed by bot! n & The New York Times Useful Not useful  

Cancel anytime. entrants to your mar"et and current competitors( T!is "noledge ill ! you to be realistic about !o success'ul you can be(

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you5re con#dent you o0er t!e best value and $uality( Only it! t!is "noledge can you o0er a better% more cost.e0ective service or produc range(

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&. Ho can !ou check the vision and mission of the or#anisation i supported and h! is this useful( &evieing strategic plan and evaluating activities move t!e company toa its vision and mission2 it may need to be revised(

*ell.ritten vision and mission statements ensure t!at eac! element o' t! strategic management process is aligned to t!e companyKs long.term goal Managers use clear and concise vision and mission statements to communicate t!eir aspirations to sta"e!olders( )mployees understand !e to 'ocus t!eir e0orts i' t!ey align t!eir daily or" it! t!e vision and missi
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Actively involve sta"e!olders in t!e process( As" 'or input about strategic planning in meetings% t!roug! surveys% it! targeted suggestion bo-es% in employee nesletters(

Master your .semester with Scribd  Ma"e sure people "no !at t!e strategic plan is on and !ere t!ey # Read Free For 30this Days Sign up to vote title  it( Times )ngaging employees in t!e planning process itsel' !elps build & The New York Useful Not useful   oners!ip Special offer for students: Only $4.99/month.it!in t!e organi/ation(

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S*OT analysis +

2xternal environment )ST analysis

+

6ompetitors De#ne t!e industry =ind out your competitors Determine t!e customers Rey success 'actors &an" t!ose 'actors &ate your competitors

$. Wh! is due dili#ence re-uired hen strate#icall! plannin#( Accounting . it is alays money ell spent to !ave an accountant revie t! businessK boo""eeping process and records( Site 4nspection . t!is is your area o' e-pertise and passion% t!en t!is 'unctio o' investigating t!e operation o' t!e business s!ould be a slam.dun" 'or yo )mployees . T!is aspect o' ta"ing over a business can sometimes be a problem% especially i' t!e seller !ad 'e rules or e-pectations o' t!e or"'orce(
. Ho is research re#ardin# documented ith Master your semester with Scribdstrate#ic plannin#  Read Free For 30this Days Sign up to vote on title !our or#anisation(  & The New. York Useful Not useful )very Times board member and member o' management s!ould get a copy   Special offer for students:t!e Onlyplan( $4.99/month.

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3. Wh! is it important to record strate#ic chan#es for the future( *it!out records t!ere can be no rule o' la and no accountability( &ecords provide a reliable% legally veri#able source o' evidence o' decisions and actions( T!ey document compliance or non.compliance it! las% rules% an procedures( Governments can no longer justi'y ta"ing action it! little or n re'erence to past per'ormance or 'uture goals( Ior can t!ey justi'y parallel duplicate services !en t!ey can combine services and reduce costs(
Reep t!e message simple% but deep in meaning(

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Build be!avior based on mar"et and customer insig!ts

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se t!e discipline o' a 'rameor"(

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se 1st.century media and be une-pected(

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Ma"e t!e necessary investment(

Master your semester with Scribd  Read Free For 30 Days Sign up to vote on this title 8. Wh! is it important to communicate details of the plan and  h! & The New York Times Useful Not useful   this useful( Special offer for students: Only $4.99/month.

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1( )mployees understand t!e big picture and !o t!ey #t in(

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enable employees to do t!eir jobs better( T!ey create a constructive or"place t!at encourages grot! and a common sense o' purpose(

&'. What performance indicators could be used to assess th success of a strate#ic plan( =inancial Metrics F ro#t%

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Workbook BSBMGT616 Develop and Implement Strategic Plans

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