Assignment: Strategy Evaluation Report
Write a 2 1/2 page strategy evaluation report on a chosen company.
Research from the Internet and from printed information can enhance strategy evaluation. Competitors' performance information can help bring perspective to an organization's performance evaluation. It is also important to look at changes, externally and internally, as an indicator for the need to modify strategy.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
• Competency 1: Evaluate key elements of the strategic planning process.
o Identify strategic information on competitors using appropriate research.
o Recommend strategies based on strategy evaluation research.
• Competency 3: Apply a sequential process for developing and implementing strategies, goals, objectives, and tactics as part of the strategic plan implementation.
o Identify new strengths and weaknesses and opportunities and threats.
o Interpret the effectiveness of a company's strategies.
A strategy evaluation framework can help achieve annual and long-term objectives. Evaluation allows an organization to use internal strengths and to capitalize on external opportunities as they surface, defending against market shifts and correcting internal weaknesses before they become a problem. Successful organizations formulate, implement, and evaluate strategies intentionally and continually evaluate their strategic position-shaping their future intentionally as opposed to being shaped by external forces. Strategic management allows an organization to make effective decisions, execute those decisions efficiently, and take corrective action. The key to effective strategy evaluation is the integration of intuition and analysis. Strategic management is first a people process and a mechanism for fostering organizational communication. The planning process is more important than the written plan. In fact, the written plan is only a snapshot and because of the rapid rate of change, leaders must plan continuously.
Strategic management also includes formulating, implementing, and evaluating organization-wide decisions that enable an organization to achieve its objectives (David, 2014). Formulation includes the organization's mission, internal and external assessments, and the establishment of strategies. Implementation includes the creation of short-term objectives and allocation of resources to achieve strategies. Evaluation reviews performance and recommends corrective action. There are many benefits to strategic planning, including financial and competitive sustainability in a global market. Globalization, e-commerce, and attention to the environment have become important strategic concerns. Engaging employees in the strategic management process can facilitate the implementation of a well-planned strategy and enhance competitive advantage. Through this course, you have learned about the importance of mission and involvement in a sequential planning process.
Preparation
Select an organization to analyze. Ideally, the company you choose will be a familiar one and one to which you have easy access, such as your place of employment or a company close to where you live. You may use the same organization for other assessments in this course.
Deliverable
Complete the following:
• Use the Internet to locate three articles written in the last six months, or as current as possible, about the industry of your selected organization.
• Consider the following questions as you do your research:
o What new opportunities and threats, or strengths and weaknesses seem to be emerging in this industry?
o Do you feel that your selected organization is using effective strategies?
o What recommendations would you offer?
• Write a 2 1/2 page document titled "Strategy Evaluation Report" in which you include the following:
o Summarize your organization's strategy and performance in the current year.
o Identify strategic information about your organization's competitors.
o Identify new opportunities, threats, strengths, and weaknesses that seem to be emerging in the selected organization's industry.
o Interpret the effectiveness of your company's strategies.
o Recommend strategies based on strategy evaluation research.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.