Task: Strategic Management Plan Formulate and document the individual components of a unique strategic management model culminating in a strategic management plan for your company. You may use a fictional company.
Question 1. Describe a chosen business for this project and discuss in scholarly detail what forms of communication about the strategic management process would be helpful to the employees in your organization prior to beginning the process?
Question 2. Discuss in scholarly detail the basic products or services, primary market, and principle technology of your selected company and then prepare a mission statement for this business or fictional firm.
Question 3. Conduct an External Environmental Scan for your selected company. Identify and Select key trends in the social and task environments which offer threats and opportunities to the organization. Organize the scan by placing the key trends into columns of threats, opportunities, or both.
Question 4. What functions and services in your selected company define your core competencies? Which could be outsourced leaving the organization room to be more focused on what it does best? What critical skills should your organization develop? Also prepare a table showing company strengths and weaknesses.
Question 5. Using one (or a combination) of the 15 grand strategies, write long-term objectives for your selected company that exhibit the seven qualities of long-term objectives to include: Acceptable, Flexible, Measurable, Motivating, Suitable, Understandable, and Achievable. Furthermore, describe the grand business strategy or strategies that you will select to seek sustained competitive advantage and why you selected these strategies.
Question 6. Using long term strategies discussed above as a guide, document the short-term objectives and the subsequent functional tactics that will guide the implementation of your strategy.
Question 7. Create a five-year timeline for implementing the strategies, and 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?
Question 8. 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 in 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?