Below are the three scenarios, each of a business situation that needs improvement. Choose any one of the scenarios for your homework. Your job is to analyze the situation and write a strategic plan for correcting the situation. Your write-up will be in the form of a memo to your supervisor, outlining your analysis and solutions.
Your strategic plan will include:
I. A mission statement You will create a vision for the outcome.
II. Analysis Is there further analysis, research, or information gathering you would perform? Describe specifically what information you would seek and how you would gather it. III. Objectives Define what you hope to accomplish. Your text defines objectives as “…guideposts by which managers define the organization’s desired performance in such areas as profitability, customer service, growth, …” List 2-5 objectives for this scenario, 1-2 sentences each. IV. Strategies Determine tasks or strategies for achieving your objectives. This includes both long- and short-range activities, plus standards and work targets (benchmarks).
A. What specific actions will you schedule/plan/oversee to fulfill your objectives? B. When will you schedule them and in what are the priorities (i.e., which are most important). C. What benchmarks (performance measurements) will you use to assess your progress? D. When do you foresee this strategic plan being completed? V. Monitor How will you measure progress towards your objectives? This should include some concrete measure (sales reports, customer surveys, etc.)