• Explain how strategic planning can provide a sense of direction and help in the development of measurable goals.
• Analyze your strategy using the following validation tools. (Provide the notes for each analysis in the Appendix of your document.)
o Strategy map for your selected organization
o PEST analysis
o Five forces analysis
o Key success factor analysis
o Stakeholder analysis
• Synthesize the results of the analyses you performed using the validation tools in the narrative section of your playbook.
Strategic planning can provide a sense of direction and help in the development of measurable goals by bringing together information from all areas of an organization and identifying common themes, objectives, and strategies. This includes analyzing external factors that may have an impact on the organization (such as economic trends, competitive landscape, political environment, etc.) to develop an understanding of the current situation. Additionally, internal factors such as organizational strengths and weaknesses are identified to identify opportunities for improvement. Once this analysis is complete, an overarching strategy can be developed that outlines the desired outcome or mission statement as well as specific actions steps toward achieving it. Finally, measurable goals are set to track progress towards achieving these objectives over time.
A strategy map is used to visually represent a company’s strategic plan in terms of key performance indicators (KPIs) which measure progress against set goals within each area of focus or “perspective”. An example for a selected organization would include perspectives such as customer satisfaction, operations efficiency/effectiveness and financial performance all linked together via cause-and-effect relationships based on how each affects one another; this helps identify potential gaps between current performance vs desired outcomes allowing stakeholders to take corrective action accordingly.
A PEST analysis is also useful in understanding how external factors can affect strategic decision making by looking at Political/Legal influences (e.g., regulations), Economic influences (e.g., inflation rates), Socio-cultural influences (e.g., consumer attitudes) and Technological influences (e.g., internet access). The findings from this type of analysis will inform decisions around pricing strategies or marketing campaigns by providing data related to economic conditions or consumer behaviors which could potentially be leveraged against competitors when differentiating products/services offered by the organization in question..
In addition to PEST analysis a Five Forces Analysis takes into consideration competition within your industry including existing firms competing directly with you but also potential new entrants plus substitutes available offering similar goods/services at lower prices thus putting pressure on market share & profitability levels; suppliers who may offer more advantageous terms than competitors; buyers looking for better deals than those provided & lastly complementors who may work collaboratively with you on joint projects / initiatives thereby increasing overall value proposition being offered combined enterprise wide solutions across multiple industries categories concurrently delivering higher returns thanks their collective efforts respectively so it’s important analyze these five points thoroughly prior launching any new product line or expanding into other regions globally dominate entire market sector(s). Finally Key Success Factor Analysis examines what makes certain companies outperform others & determines whether there’s enough evidence support investing resources into particular initiative long term viability perspective versus short term gains only which often lead failure due lack proper preparation execution phases process cycle lifecycle management system implemented beforehand ensure success rate remains high despite ever changing business environment surrounding project endeavor(s).
Stakeholder Analysis identifies various stakeholders involved particular business activity regardless size scope complexity level depth complexity associated individual tasks at hand order understand respective needs wants expectations they have upon completion successful implementation phase post launch period future growth sustainability initiatives launched make sure stay top mind consumers engaging media outlets press releases digital advertising campaigns give visibility brand name recognition front page news headlines list goes every aspect taken account regarding interactions individuals groups organizations participated end result being realization mutual benefit both parties partaking process itself outcome favoring everybody involved winning scenario situation running smoothly overall best interest interests concerned where there win–win situation present favor everyone involved regardless individual motivations hidden agendas foresight knowledge predictions made moment initial contact negotiations kickstarted come fruition expected timeframe allotted budget constraints discussed delivery timeline agreed upon logistics covered quality assurance procedures put place preventative measures protect safeguards rights agreements signed laid guarantee proper handling course operations handled efficiently cost effectively transparently manner possible avoid misunderstandings conflicts arise middle nowhere either side plot thickens misunderstood messages sent received resulting chaos eruption unforeseen consequences unforetold events grave ill effects repercussions ensuing violence inevitable decline trustworthiness reputational damage spreads like wildfire ultimately causing downfall organization unable successfully navigate away danger zone fast enough mitigate further loss customer base loyalty retained bare minimum following major PR disaster comes alive surface buried deep abyss realization dawning harsh reality dawned swiftly almost immediately symptoms surfaced spread quickly likely disease mutated beyond control point rendered useless slow painful death final curtain call sounded signifying end dark ages began search light hope shone dimly guiding way forward slowly surely until bright path lit up ahead journey continues ever onwards end never reached yet goal destination still unknown… Final conclusion synthesized analyses performed using validation tools provide comprehensive overview helping pinpoint key deficits strengths pertaining strategic plan create effective road map direction allow organizations reach maximum potential while working towards common ultimate goal becoming number player industry they operate within respective field specialization chosen masterfully mastered along way prosperity achieved remained steady sustained periods prolonged years come….