A
strategic management plan addresses the four primary components of the
strategic management process: a) environmental scanning, b) strategy
formulation, c) strategy implementation, and d) strategy evaluation and
control. The individual assignments in Weeks 3, 4 and 5 are integrated to
generate a complete strategic management plan.
This
individual assignment (part three of the strategic management plan) is designed
to help students with the following:
- Evaluate how the strategies formulated by the student
for the company selected by the student will be converted into
implementation activities. - Examine how the formulated strategies align with global
considerations that affect the selected company. - Understand the effectiveness of using the 4 quadrant
Balanced Scorecard approach to strategic measurement: - Financial (e.g., market share, profitability, etc.)
- Customer (e.g., customer retention, customer
satisfaction, etc.) - Operation or Process (e.g., operational performance,
process improvement, etc.) - Learning and Growth (e.g., technological innovation,
employee training, etc.) - Examine how implementation of the strategic plan
proposed by the student for the selected company will be evaluated and
controlled.
Recommended
Resources
- Textbook Chapters 9, 10, 12, 13 and 14
- Week 3 Environmental Scanning paper (part one of your
strategic management plan) - Week 4 Strategy Formulation paper (part two of your
strategic management plan) - Week 5 Course Supplements: Balanced Scorecard
Description, and Creating an Implementation Timeline and Balanced
Scorecard - Appropriate and relevant business and academic Websites
Assignment
Requirements
Write a
550- to 700-word paper that includes the following:
- Relevant overview of a company that you researched for
this assignment (e.g., industry, age, size, scope, and market position) –
note it should be the same company as in parts one and two of your
strategic management plan, and the overview should be relevant to this
part of the assignment, not merely a repeat of the overview from parts one
or two. - Brief explanatory introduction and presentation of a
3-5 year implementation timeline that identifies at least 2 domestic
and/or international milestones for each of the 3 or more strategies proposed
for your selected company in part two of your strategic management plan
(note the timeline should be presented as an APA-compliant table or
figure; a table is highly recommended). - Examination of how each of your proposed strategies
align with the global social, ethical, and legal considerations that may
affect your selected company. - Brief explanatory introduction and presentation of an
appropriate Balanced Scorecard, where each of your proposed strategies are
measured by at least 2 viable metrics for a combined total of at least 6
metrics/targets; in addition, each of the Balanced Scorecard’s 4 quadrants
should contain at least 1 of the proposed metrics/targets (note the
Balanced Scorecard should be presented as an APA-compliant table).
Format the
paper according to 400-level APA standards. An abstract is not required, but
the paper must include a Conclusion heading (other headings are recommended).
The word count does not include the title and reference pages, nor the tables,
or figure and table.
