Homework: Strategic Planning
You have successfully gained a junior management role in the UK in an organisation called Vista, which is a multi-national company. This is an interesting time for the business as it has decided to review its mission, vision and strategic direction. In this process the Board wishes to involve staff at various levels in the organisation and it has established a series of teams which will look at the strategy and feedback their work to the Board. You have been asked to join Team Singapore which is comprised of staff from across the company. It will work virtually before meeting in Singapore for a final face to face session.
This is an exciting opportunity for your personal and career development and you are keen to make the most of it.
Task I
In preparation for the first virtual meeting you decide to make detailed notes in which you:
i. Explain organisational vision, mission, strategy and business plans and the relationships between them
ii. Explain how external factors affect organisations and how changes in the external environment affect organisational strategy
iii. Evaluate how stakeholder expectations influence organisations
Task II
At the first virtual meeting of the team all members have been asked to make an individual contribution, which will be circulated to other team members prior to the next meeting. Your task is to provide a document which:
i. Analyses the mission and vision statements of named organisations.
ii. Evaluates the impact of a named organisation's vision and mission on its strategy.
iii. Analyses how external influences affect organisational strategy in a named organisation.
Task III
Following the virtual meeting you have been asked to review an organisation's strategy and business plans as this may influence thinking for Vista's future direction.
Produce a presentation with accompanying notes which:
i. Explains the importance of review in developing organisational strategy and business plans.
ii. Evaluates the tools which can be used to review organisational strategy and business plans
iii. Review the position of an organisation in its current market using appropriate tools.
iv. Analyses the competitive strengths and weaknesses of an organisation's current business strategy and business plans.
Task IV
Whilst completing the above tasks your team has decided that there is clearly a number of strategic options to consider. With this in mind you decide to model strategy options for a smaller organisation as an illustration. Produce a document for circulation which develops:
i. Strategy options for a chosen organisation, using modelling tools
ii. Criteria for reviewing the potential strategy options.
iii. Apply the criteria and evaluate the options for delivering the strategic direction of the organisation you have chosen.
Task V
The Board has decided that the meeting in Singapore should take place and you have received your travel and accommodation documents. The agenda for the meeting will include how to create a strategic plan. In preparation for this critical meeting you decide to produce a file for your own use. The file will:
i. Explain the structure of a plan needed to deliver the strategy
ii. Explain how stakeholders are involved in the formulation of the plan
iii. Provide a dissemination process to ensure stakeholders are informed and committed to the plan.
iv. Create monitoring systems to ensure the successful implementation of a strategic plan.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.