Efficient Method Used for Tactical Planning
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Efficient Method Used for Tactical Planning
Identify key trends, assumptions, and risks in the context of your final business model.
Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis and supply chain analysis.
Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:
Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
Market share
Revenues and costs
Profitability
Competitive position
Customer Value Perspective, includes strategic objectives in areas such as:
Customer retention or turnover
Customer satisfaction
Customer value
Process or Internal Operations Perspective, includes strategic objectives in areas such as:
Measure of process performance
Productivity or productivity improvement
Operations metrics
Impact of change on the organization
Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
Employee satisfaction
Employee turnover or retention
Level of organizational capability
Nature of organizational culture or climate
Technological innovation
Develop at least three strategic objectives for each of the four balanced scorecard areas identified (Financial, Customer, Process, Learning and Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis paper and table you completed in Week 3.
Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and mitigation plans, and a stakeholder analysis that includes mitigation and contingency strategies. You should also incorporate the ethical implications of your solutions into your selection.
For each strategic objective, develop a metric and target using a balanced scorecard format. (For example, a strategic objective in the shareholder or Financial Perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, “The percentage of increase in market share.” The target is the specific number to be achieved in a particular time period. The target for the metric of “Increase market share” could be “Increase market share by 2% for each of the next 3 years” of an increase of 2% per year for 3 years.)
Outline a brief communication plan discussing how you will communicate the company’s strategic objectives that includes the following:
Define the purpose.
Define the audience.
Identify the channel(s) of communication and why you selected that channel.
Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.
Format paper consistent with APA guidelines.
Education
SWOT analysis is an efficient method used for tactical planning to classify possible, priorities and generating a common vision of accomplishing the expansion strategy for a company. SWOT should answer the question of where the company is involving the examination of the external and internal environment specifically and generally. It used to estimate the company’s environmental factors. Only by taking into contemplation the components of common environment : political environment, social environment, economic environment, legislation and stress groups, a corporation will be able to take on the particular way of achievement, which will guarantee its performance and advantages on current and latent competitors (Thompson, & Martin, 2010).
In today’s highly competitive and fast spaced marketplace, it is vital for organizations to be elastic enough to change, so that they can remain up to speed and profitable. Management of change has always been a concern of debate among scholars: how can employers make appropriate conditions for a victorious change process? And what can workers do to go through it. Strategic management mainly pertains to adjusting an organization to its business surroundings. The greatest agent for organizational change is the socialization feature of culture, which can be made powerful structurally. Waterboard Corporation takes on the individuality of learning, adapting and growing organization; these traits have become part of the structure of how it operates. Being aware of how and being capable of increasing this flexibility is essential to organizational success (Poole, & Ven, 2004). Waterboard Corporation implemented strategies of adaptation that have effects that ripple across a corporation. Raising an organization’s capability to adjust to change and reduce disturbance reduces costs and saves time. One approach that Waterboard has used for increasing adaptation is to select a person to back the changes, tackle and in the long run recruit opponents, and proactively spot and alleviate problems.
Economic forces refer to the direction and nature of the economy in which a business operates. Economic factors have an incredible impact on company firms. The common state of the economy for instance prosperity, recovery, recession and depression. The fiscal policy, monetary policy, payments balance, the stage of economic cycle and interest rate are main variables in pricing decisions, employment and corporate investment. The growth impact or turn down in gross national product and decreases or increases in the value of the dollar, inflation and interest rates are considered as chief examples of important impact on business processes. To assess the local condition, an organization may seek information relating to the economic stand and future of the area and the effects of this viewpoint on the transportation and commercial base, unemployment, disposable income and wage rates. The condition of world financial system is most vital for organizations working in such areas. Factors such as monetary and fiscal policies, demographic changes, rate of interests, inflation rates and level of employment which establish the state of aggressive environment in which Waterboard Corporation operates. These forces have an effect on the result of the firm’s marketing activities, by influencing the strength and volume of demand for its products.
Legal forces that affect Waterboard Corporation include court judgments, legislation and election outcomes as well as the decisions given by various agencies and commissions. The political sector of the surroundings presents potential and actual restrictions on the way a Waterboard corporation operates. Among the most significant government procedures are: takeover (creating a crown privatization and corporation), expenditure, taxation and regulation. The disparities among international, national and local subsectors of the political atmosphere are often rather dramatic. Political volatility in some regions makes the very type of government subject to radical changes.
Additionally, the basic scheme of government and the laws the system propagates, the political surroundings may include such concerns as examining government strategies toward revenue tax, relative pressure of unions, and strategies concerning employment of natural resources. The Political activities also have a noteworthy impact on three supplementary governmental roles influencing water board’s external environment. They include:
Supplier function. The decisions of the government regarding accessibility and creation of personal businesses to government owned usual resources and local stockpiles of agricultural products will intensely affect the feasibility of the strategies of Waterboard Corporation.
Customer function. Government demand for services and products can eliminate, enhance, sustain or create many market chances.
Competitor function. The government can function as an almost indomitable competitor in the marketplace; thus, information of government policies can help Waterboard Corporation to avoid adverse altercation with government as a competitor. Generally, the impact of government is increasing and far-reaching.
The opportunities that face the corporation’s new division include:
Specialized shipping demand increase
Favorable physical condition. Favorable market conjuncture.
Global maritime and river transport.
Growth predisposition for world export.
Positive economic growth.
Steady macro-economic environment.
The issues that face the corporation’s new division include:
Low possibilities to access money and capital markets
Material expense increase tendency. Aggressive market strategies for many countries
Tendency of national currency devaluation.
Lack of specialized banking system in shipping.
Conclusion
As a result of placing it in the SWOT model, the division for Cargo shipping of products across the globe was positioned in the first quadrant. The classification of the SWOT quadrant facilitates the move to the last analysis’s step which is to formulate the actual strategy. According to grand strategies of intricate companies’ common level, there are four key strategies equivalent to the first quadrant, which are attention on a market share; attention on a product; mergers and peaceful firms purchases; mergers and mandatory firms acquisitions. It is the accountable person’s problem to choose which one of these policies will be chosen. The policy which Waterboard Corporation must select is the attention on a market share.
References
Levy, A. & Merry, U. (1986). Organizational transformation approaches, strategies, theories. New York: Praeger.
Poole, M. & Ven, A. (2004). Handbook of organizational change and innovation. Oxford, UK New York, N.Y: Oxford University Press.
Thompson, J. & Martin, F. (2010). Strategic management : awareness & change. Andover: South-Western Cengage Learning.
Strengths Weaknesses
Marketing Marketing
Great orders on stock that are all addressed to lack of aggressive marketing strategy.
The export. Finance
Competitive prices hardships in getting financing.
Finance lack of cash liquidity
Financial stability and good profits. Technology production
Technology production steady increase in investments.
Good management low manual work costs.
Flexible organization sub utilization of current production
Specialized ship building abilities capacities.
Human resources organization management
Qualified workforce little labor productivity
Small level of subcontractors
Opportunities Threats
Macro-economic situation Macro-economic situation
Steady macro-economic environment lack of specialized banking system in
Positive economical growth. Shipping.
Competitive situation tendency of national currency
�growth predisposition for world export and devaluation
Global maritime and river competitive situation
Transport. Aggressive market strategies for many
�favorable market conjuncture. Countries.
�favorable physical position. Material expense increase tendency.
�specialized ships demand increase. Low possibilities to access capital and
Money market.
Efficient Method Used for Tactical Planning
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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Efficient Method Used for Tactical Planning