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Strategic Planning And Management Assignment Sample

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Strategic Planning And Management Assignment Sample

Introduction

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Chapter 5

Strategy Evaluation factors

  1. Definition of the Key Performance Indicators

The KPI stands for measuring the performance of the workforce considering a certain objective of the business. This factor provides the team to meet the specific business target. In addition, the KPI factor of the organisation allows the management team to set a milestone for measuring the progress of the company. The KPI factors of the company are helpful for the overall business process for indicating the certain development area by which the business moves forward (Pires et al. 2020). The KPI measurement is helpful for the company to predict the strategic business outcome.

  1. Examples of KPI

Finance and accounting

Accounts payable, Actual expenses, Average customer receivable, Budget expenses, Capital Expenditure, Cash Flow return on investment, Cash dividends paid, Discounted cash flow, Gross profit, Net income and Payables turnover are the examples of KPI in finance and accounting (Zhyber, 2019).

Human resource

The actual budget cost of recruitment, the rate of voluntary turnover, Average interviewing cost, Length of the manager’s placement, Average monthly placements, Average retirement age, Average source of recruitment per employee, the service length of all the present employees, Efficiency of the staff and quality of the employees are the major KPI factors of the human resource.

Information technology

Rate of account generation, rate of account termination, Average availability rate data centre, Availability of call centre PBX, the effectiveness of the customer connection are the major KPI factors of the Information Technology of the company.

Operation manufacturing 

Time of the delivery, Schedule of the production of the company, Total cycle time, Utilisation of the capacity, Time of changeover, scrap, frequency of the maintenance, Availability of the resources are the main KPI factors of the company's manufacturing process (Rathnayake and Ranasinghe, 2020).

Sales and marketing

Per lead cost, Marketing qualified leads, Customer retention, Average cost of customer retention, Average Return on Investment, Winning the ratio and Annual sales revenue are the major KPI factors of Sales and Marketing.

  1. Explanation of the barriers

The vision barrier

Vision barriers are one of the most important elements to implement an effective strategy in the business. The company will have to understand the position of the company in the market in terms of success rate. In addition, the rate of distraction is also an effective barrier in planning and implementing the business strategy (Björklund, 2018). This effective barrier also indicates the area in which the company develops the organisational structure. For example, the insight capability of the company identifies the development area.

The resource barrier

In spite of having a great plan, the company will not succeed in business if has lack resources and funding. The adequate funding of the company helps the business leaders to execute the plan. The lack of resources and funding prevents the company to engage talents. This barrier also affects the company’s marketing process and distribution programs of the company. The resource barrier of the company also impacts the company’s change management process (Björklund, 2018). In addition, this effective barrier is also effective increasing the product segmentation of the company. For example, the adequate resource of the automotive company is important in meeting customer demand.

The people barrier

A highly effective business strategy requires a huge workforce along with adequate funds. The productive labour force of the company increases the workflow and business strength of the company. This people barrier of the company is also effective in delivering the crucial projects on time. For instance, the huge labour force of the construction company makes the management team able to complete each task on time.

The management barrier

The existence of an effective management body in the business is most important for implementing an effective business strategy. It depends on the highly efficient management team of the company to incorporate software or hardware-based technology in managing the business process of the company (Machela et al. 2019). The management team of the company observes the resource and fund arrangement of the company before implementing the business strategy. For instance, the customer retention program of the company is important to increase sales performance.

  1. Analysis of the situation

Question 1

As per the situation, the major issue was the lack of individual strategy for the different types of projects that were ongoing under the supervision of the CEO. The project team of the company needed an effective strategy to execute the single task of the different projects (Jones, 2021). The focus of the project team was diverted as per the different needs of the projects.

Question 2

The CEO of the company would have implemented an effective business strategy to tackle the multiple projects at once. The CEO should have prioritised the urgency of the projects. This business approach is essential in minimising the time that is spent on the overall projects. The CEO should have created 100 per cent space for focusing on the progress of the projects. Staying focused on the project progression is most important for increasing the productivity rate of the project team. In addition, time blocking is another technique that the CEO should have followed. This is also effective in developing the efficiency of the project team. The situation will be better if the CEO would make a schedule for every project task (Ngatilah et al. 2021). Delegation is also an effective element to increase the number of helpful people in every project.

Question 3

I will set a clear goal at first for implementing the business strategy. This will help me to execute the tasks regarding a vision of success. I will set a certain goal that should be attainable by the project team. After that, I will determine the individual roles and responsibilities of the project team. The definition of the roles and responsibilities are important in executing the task effectively (Keya, 2019). Along with that, I will set an expectation from the project team. Every resource and employee will be documented by the management team. After that, I will delegate the task to every team member. The plan of executing the task and monitoring the progression will be made with effective meetings. The support of the senior executive board will be ensured for the project team.

Question 4

As per my opinion, the CEO of the company should avoid the step of not involving the bottom level leaders in the business projects. The bottom level leaders of the company are effective in managing the projects from the front. They are more effective in business rather than top-level leaders. The bottom level leaders are important in understanding the strategic intent of the project. The project head should check whether the metrics match the behaviour or not. The factors that affect the matching process should be avoided in this regard. The organisational leaders of the company should strictly maintain the organisational boundaries. The inadequate teamwork between the functions, departments and divisions should be avoided by the CEO (Cândido and Santos, 2018). The inadequate communicating method affects the interpreting of the project needs that leads to failure of the overall projects.  

Question 5

The project head of the organisation will have to spread the message of the project in an easier way. This will help the project in better clarification of the project requirements. The simple message of the project head will also help the project team understand the project objectives and high-level milestones of the project. However, the primary objective of the communication will be a better understanding of the project task. The visual of the communication will become more effective in memorising the interpretation.

The verbal communication contains small gaps in communicating the projects. The visualisation method helps in visualising the inputs of the strategy. In addition, the project head will also set the measurable objectives of the projects. In the case of any major projects, the project should be broken down into smaller inputs (Obembe et al. 2020). This will help the project team to achieve the short-term goal of the project. The project manager of the company will have to outline certain milestones of the project. This is necessary for project management for evaluating the efficiency of the team.

  1. Elements of the McKinsey 7s model

The organisation will have to incorporate different aspects for defining the strengths and weaknesses of the company.

Hard elements

The hard elements of the company can be easily identified and treated by the management body of the organisation.

Strategy

A set of effective actions is known as the strategy of the business that is formulated by the management team of the company. As per the strategy, the organisation should be prepared to cope with the competitive market in the industry. The organisational strategy will have to be aligned with the vision, values, mission and goal of the company (Gechkova and Kaleeva, 2020). The McKinsey 7s model presents some effective measuring elements for analysing the organisation strategy such as defining the strategy, intended to achieve the strategy, process to deal with the changing customer demands and dealing with the environmental issues. These milestones of the organisational strategy are effective in attaining the organisation goal.

Structure

The structure of the organisation includes the roles, hierarchical system and responsibilities of the organisation teams. The business structure of the company defines the accountability of every business personnel. The reporting process of the organisation is also incorporated into the organisational structure. The structure of the organisation also defines the team division of the organisation. The hierarchical system of the organisation is also identified in this element of the McKinsey 7s model (Gechkova and Kaleeva, 2020). The organisational structure of the company is also effective in the decision-making process in difficult situations. The line of business communication is also analysed as per this element.

System

This element of the McKinsey 7s model defines the procedure and methods by which the organisation executes the business operation. For instance, some organisations consider the cash accepting and cash flow management process as the primary role of the organisation system. As per the McKinsey 7s model, the management system of the organisation is effective in regular decision making in project management. The organisation system establishes the robust system of the company (Gechkova and Kaleeva, 2020). In addition, the organisational system of the company manages the human resource, funds arrangement and communication process in major projects.

Soft elements     

The soft elements of the McKinsey 7s model are comparatively complex to identify and dynamic as well. The soft elements of the McKinsey 7s model generally define the culture of the organisation.

Shared values

The shared values of the organisation define norms, standards, believes and principles that are followed by the organisation. The core values of the company are included in this soft element. In addition, this soft element also includes the corporate culture of the organisation.

Styles

This element of the McKinsey 7s model defines the technique by which the business leaders of the company attain the business goals. The level of employee participation is also included in this soft element.

Staff

The employee who is engaged in the project to execute the assigned task is known as the staff. The staff of the organisation carry out the operation of the projects.

Skills

The capabilities or competencies of the organisation to complete the project is called skills (Gechkova and Kaleeva, 2020). The organisation leaders of the company should understand the strength and weaknesses of the employees for executing the task effectively.

Chapter 6

Describe the concept of Triple bottom line

The triple bottom line is the concept of business that profits the measuring the aspects that firm should commit and measure in the concept of their social and environmental aspects of the organisation. The three P strategies are followed in the concept of triple bottom line such as profit, which refers to the financial activity of the organisation, people which refers to the social aspects of the organisation and planet which identify the environmental aspects of the organisation. This entire organisational context helps to build the sustainability of an organisation.

Advantage of the triple bottom line

According to Elkington (2018), the triple bottom line helps to change the system of an organisation; in contrast, it helps to recognise the change in any business. The triple bottom line helps to encourage environmental sustainability and make a profit for the planet. It helps to develop transparency and accountability to the operation of an organisation, the key benefit of the strategy is that it attracts the best talent for an organisation and it also helps to attract new customers which help to improve the revenue of an organisation. Apathy from that helps to improve the productivity level of an organisation. 

  1. Learning organisation and their contribution

The learning organisation stands for the area in which efficient people expand their capabilities to enhance their identity (Odor, 2018). The learning organisation is a possible vision. This does not refer to the training and development of the individual staff of the organisation.

A learning organisation provides the employees with the opportunity to continuous learning. In addition, the learning process of the organisation helps the team members to reach their goals. Learning organisation connects individual performance to organisational performance. It also enhances the factors for managing the source of the energy.

  1. Four main activities of the learning organisation

Supportive learning environment

The management team of the company supports the learning stage of the employees. The management team of the organisation also encourages the employees to speak about the importance of learning in the organisation. This approach uncovers the issues effectively. This is so because the failure of the individual employees is a matter of concern for the major project (Huda et al. 2018). Supporting the learning environment also includes rewarding methods for efficient employees.

Considering the cultural perspectives

Diversity is a common thing for those types of business that includes globally connected people of the business. The organisation gains benefits from the diverse workforce. The company understands that diversity is one of the best approaches for enhancing the learning process from other cultures. The effective learning process is initiated with the contribution of the employees.

Encouraging the innovation

The most important activity of the learning organisation is the innovation process. The innovation process of the company increases the productivity rate of the organisation. This business approach of the organisation is effective in reducing the cost of the projects. Many learning organisations push the limit of possibility by the innovation process of the management team. The learning organisation also incorporates the innovation process for managing the increased competitiveness of the market. Innovation makes new partnerships and relationships in the industry. The learning organisation ensures the growth of the organisation with innovation rather than fear of risk. Most learning organisations also use innovation for improving brand recognition in the market (nibusinessinfo.co.uk, 2021). The innovation process is also effective in improving the profitability rate in the organisation.

Managerial supports

The managers of the company play an important role in the learning process of the organisation. Many learning organisations also consider managerial support as the key to the success of their organisation. The managerial supports of the organisation include effective communication among managers and workers of the company, taking decisions of the workers in a serious project and providing the workers with clear feedback (Asmilia and Sugiyarti, 2020). The managers of the learning organisation help the junior employees by effectively listening to them. The organisational managers are also involved in the training and development process.

  1. Roles of leaders in a learning organisation

Change management is an essential role of the leaders of the learning organisation. This factor of the organisation is effective in the competitive market of the company. The incorporation of the learning process and change management is effective in the critical success of the company. Setting the business goal is another important role of the leader of the learning organisation.

Five elements of the “J” curve

Steward structure - As per this element, the leaders of the organisation should understand that the business structure meets the organisational goal and organisational environment. The business structure should be aligned with the purpose of the organisation (Hassan Zadeh and Jeyaraj, 2018).

Set direction - The set direction element incorporates some of the critical points such as the ways in which the individual asks the questions. This element also defines the ways in which individuals ensure the evolving method of reality. It also assimilates the individual observation with others.

Create Key processes- The performance management system increases the potential of the organisation. It also decreases the interferences which become effective during the process of delivery. As per this element of J-curve, the organisation should engage the reward system to boost the motivation of the workforce.

Nurture behaviour - Leaders of the organisation should manage the behaviour while dealing with subordinate employees. This element demonstrates the values and beliefs of managers (Fatoki, 2019). In this regard, the major components of the leaders can be named such as intolerance, courage and integrity.

Building the cadre - The organisational management team should build a team to nurture the team and understand the importance of a diverse workforce.  

Chapter 7

Strategic decision making skill

In the context of strategic decision making, there are considerations of DECIDE model which helps to identify the key discussion making strategy for an organisation. The concept of strategic decision-making skills helps to build the future sustainability of an organisation, in this concrete certain skills are required for the development of strategic decisions for an organisation such as problem-solving skills, leadership skills, reasoning skills, skills of navigating the risk and uncertainty, evaluate the options accurately and prioritise according to them.

Define problem-solving skill

The identification of certain critical factors of an organisation is considered as identifying the problems and the solutions of the problems are within the identification of problems. According to Khoiriyah and Husamah (2018), the several steps for the decision-making skills such as identifying the problems, developing good problem-solving ability, exploring the solutions and thinking. There are certain activities such as active listening, analysis, research and communication that are the key factors for the development of problem-solving skills in an organisation.

Identify the leadership skill   

Leadership skill is the method of communication with hierarchy and below standard workers and it identifies the necessity of workforces within this organisational structure. There are certain responsibilities of leaders to develop the decision making strategy of an organisation, the motivation of other people is the key factor for leadership skills (Guzmán et al. 2020).  

Define the reasoning skill

Reasoning skills are the key concepts of leaders n the aspects of developing the decision-making skills in an organisation. This skill comes with the analysing ability of every consequence of an organisation.

Define the skills of navigating the risk and uncertainty 

The navigation of forecasted risk are the most essential skill for decision-making n an organisation, this skill helps to define the future misfortune and disadvantage of the organisation and it helps to find out the possible ways to overcome the risk (Means, 2021).

Define the skill of evaluating the options accurately and prioritise

The evaluating skills are the key aspects for mitigating the future risk for an organisation; it helps to build sustainability for the organisation. Leaders explain the reasons and prioritise the accurate factors behind the issues.

Definition of strategic, operational, and administrative types of decisions

Definition

  1. Strategic decision: Strategic decisions are the decisions that are concerned with the entire environment of an organisation. In this environment, the firm operates the entire resource and the people who play the viral for forming the company (Nieto et al. 2019).
  2. Operational decision: Operational decisions are the particular form of decision that is made by every organisation on every singular day. This kind f decision helps to analyse the operations of an organisation.
  3. Administrative decision: The administrative decision for an organisation can be described as the application of general rules in the case of an individual. The concern of the workforces and their internal factors are controlled by the administrative decisions.

Examples

  1. Cross-selling ad up selling strategy, it helps to build the increase the revenue by 40%,

Improve the customer service; grow sales from the new products.

  1. Decision of quality management and process and capacity design are an example of operational decisions in a business.
  2. The public officials are the example of an administrative decision, aspects of workforces are the main aspects of an administrative decision, and facility to the workers and positive and negative approaches of workers are controlled by the administrative decision.

Chapter 8

Change management model

The name of the following model is Kurt Lewin's Change Model

Description

In this change model, there is consideration of three steps such as unfreezing, changing and refreezing. In the first stage, there is the consideration that the employees are ready to change and the other aspects are unfrozen. It is the concept of changing the conservatory model of thinking of people in an organisation (Saleem et al. 2019). The next stage of this model is changing; it identifies certain changes and the execution of the planning. It is referred to as the transitioning or moving aspects of the actions for an organisation. As a consequence of time, most people struggle with the new reality and try to overcome it. The third stage is considered refreezing. These concerns are about the permanence of the change in the organisation. However, the concept of refreezing is outdated because the organisation needs rapid change and the change must be continuous.

Case questions

  1. The company Nokia has been wrapped up by their nostalgic ideas which are considered to remove and adopt new business ideas and strategies in the business. Accept the changes and accruing the new generation models and techniques are the key concepts for being future sustainable for Nokia.
  2. Lewin's change management model is appropriate for the changing of the organisation through the culture, the Kobler-ross change carves is considered as essential change for the organisation. In this concept of change management, the McKinsey 7s model is also applicable for delivering the above-discussed changes in the organisation Nokia. The model of McKinsey's change model there are consideration of certain strategies such as strategy, structure and system (Cox et al. 2019). The technological interpretation has implemented new innovation in the model of strategic decision in Nokia, which are supposed to develop through the soft elements of this model.
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