1.1 Assess how business missions, visions, objectives, goals and core competencies inform strategic planning.
1.2 Analyse the factors that have to be considered when formulating strategic plans.
1.3 Evaluate the effectiveness of techniques used when developing strategic business plans.
2.1 Analyse the strategic positioning of a given organisation by carrying out an organisational audit.
2.2 Carry out an environmental audit for a given organisation.
2.3 Assess the significance of stakeholder analysis when formulating new strategy.
2.4 Present a new strategy for a given organisation
3.1 Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for a given organisation
3.2 Justify the selection of a strategy.
4.1 Assess the roles and responsibilities of personnel who are charged with strategy implementation.
4.2 Analyse the estimated resource requirements for implementing a new strategy for a given organisation.
1.1 Strategic Planning is an Organization’s process of defining its strategy, a direction and making decisions on allocating its resources to pursue its strategy.
Strategic planning has immense benefits on the Organizations as the streamlined planning helps in enhancing the achievement of objectives and in turn helps the management implement lot more strategies to benefit the Organization. The performance of an Organization is based on the efforts the Organization places in order to achieve its vision, mission and other strategic objectives planned by the board of the management. The entire strategy should be prepared and planned by the top management to improve the performance of the Organization (Cipd 2011).
1.2 The most critical aspect of an organization is to plan its strategies which are a part of the organization’s culture. They can be planned and implemented by considering various factors like the values which rule all the policies of the organization and the other policies which achieve and contribute to the performance of the organization. Various factors which are used in strategic planning are
Establish the critical stake holders for the development of policies and processes
Evaluate the effectiveness of the present policies and processes in achieving organization’s aims and objectives
Conduct discussions with all the critical stake holders in order to plan and strategize the policies
Plan and strategize policies to evaluate the methods to measure the effectiveness of the policies
1.3 The effectiveness of techniques used when developing strategic business plans are a lot of advantages where such standards provide some marketing strategies and tools. These will be useful for improving the performance of the Organizational standards and they also help in promoting various marketing strategies. By implementing this method such tools will help in evaluating the company’s own performance by giving out quality scores and standards and implementing constant practice of exchange of best ideas (Toolboxes, nd).
2.1 Strategic positioning of a given organisation by carrying out an organisational audit
Harbour Side College has seen many issues in relation to the insensitivity of the trainers towards the students from various cultural backgrounds. A cultural awareness training program is required to be held as a part of the students training and personal development.
To achieve this we would conduct a Management audit which is a combination of compliance audit and the management audit. Compliance audit uses several instructions and is used to check the evaluation of certain high risk activities by adapting and implementing some policies and standards which have been strategized but the Management audit is a recent form of an audit which concentrates on the results by evaluating the effectiveness of the performance of any of the policies and they result in changes in the implementation process of most of the policies. This helps the management in aligning their strategies with their vision to enhance the Organizational growth.
2.2 Environmental Audit
One of the main environmental audits which every Organization has to implement is the Organizational compliance audit which is mainly used to analyze and evaluate whether a particular transaction or a process has been following all the rules which are to be implemented and followed. The rules and the policies which the Organization follows are the rules which are mostly planned and strategized by the Organizations or by any of the law firms. In the case of the Training firm the compliance is about the Trainers following the regular code of conduct and not violating any rules in terms of their business. A questionnaire can be formed in order to let the trainers self – evaluate their performance so that it enables them to think and render better performance aligned with the Organizational objectives (Toolboxes, nd).
2.3 The significance of stakeholder analysis when formulating new strategy
An organizational environment depends on the relation between the trends and relations with an organization’s internal and external environment.
Internal analysis is the 1st stage of an environment scanning where organizations depend on the internal organizational environment. This includes various interactions with its employees, management and its interaction with its managers and interaction of the management with its stake holders to promote their brand in terms of its awareness, organizational structure, employees and its operational potential.
Organizations conduct an internal analysis to identify the value of its resources where they use some approaches to identify them. Organizations feel that by possessing valuable resources does not provide all the benefits however it is critical to implement them in an effective way (Robert, M, 2012). There are approaches like SWOT and functional approach which can be implemented for this purpose.
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Strengths The management who is aligned with the issues of the students is the main strength where they have an opportunity to solve their issues |
Weaknesses The students having to face the issues with the trainers who are in contact with them on a daily basis could be an issue which the students might have to solve |
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Opportunities The training could be an enhancement program for all the trainers and the students to understand the various cultures |
Threats Students issues which they might not realise would cause a lot of issues in the future in understanding of the students and the trainers |
The success of an organization depends on factors which operate in an internal and an external environment where the organization can implement to enhance the performance of their strategies.
PEST factors are the external factors like political, economic, social and technological which the organization does not have control. The political factors which has a control on organizations are
Laws and legislations
Codes and practices
Market regulations and policies
Trade agreements, costs and restrictions
Taxes
Government policies
These factors can have advantages and disadvantages on an organization.
The organizations are affected by national and international economic factors where the national and the international interest rates will be fixed on the economic conditions. The economical condition dictates how the consumers, suppliers, consumers and organizational stake holders like their own suppliers behave in their community. All the successful organizations will respond positively to the economic conditions and stake holder behaviour. At this stage the organizations would have to evaluate their own performance in response to the economic conditions and their stake holder competition (Appadurai, Arjun, 1994).
The social factor of PEST analysis focuses on the social aspects of the community where these forces affect their attitudes and interests. These forces decide the consumer behaviour depending on facts like their interests 9 Feinberg, Leslie, 1996). This can be related to the health products which most of the organizations have started. This has been in response to the increasing awareness of health and well being of people in various countries (Bourdieu, Pierrre, 1988).
With the increase in such interests of the people in the community the growth in demand for such health products has increased to a great extent. The changes in the life styles have also made a lot of changes in the way the organizations create their products. If the organizations do not change and if they do not meet the demands of the customers in terms of their products they will lose their credibility and market presence in the markets which would lead to a lower demand for their products and services (Connell, Robert, W, 2001
The technological developments have changed the way the organizations conduct their business where they use technology for a lot of processes like
Business infrastructure like internet which is used for a lot of business purposes
The technological aspects have changed the way in which information is exchanged between stake holders. With increasing companies which provide various services the organizations should respond to any services faster. The timelines are the factors based on which most of the international organizations operate as it is the selling factor for most of the organizations that they can operate in a minimum time and can provide great products and services (Mintzberg, H. 1994).
With all these factors PEST analysis has also made its presence in legal and environmental factors where all the different aspects of process requirements are controlled by various compliance laws and policies which the organization has created in order to safeguard the customer interests and the legislative frame works.
2.4 New strategy based on the above discussion could be adapting and implementing various processes like SWOT analysis, functional analysis and PEST analysis the organizations would be able to visualise their future strategies to help them realise their working potential. The quality of their performance is driven by special organizational strategies for collecting and processing information for relating their customer expectations with the choices of the methods which are available for coordinating work to various employees. A perfect collaboration between the internal and the external analysis the organizations can design an ideal way in which their strengths can realize their opportunities and reduce their weaknesses by eliminating them completely. This contextual analysis also helps the organizations to capitalize on their knowledge to achieve a greater competitive advantage (Pearce, J 1997).
3.1 The appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for a given organization could be based on the main need for the change in this issue is the need for training need for the trainers to be able to understand the students from various cultures. The Board of Directors have organized a training program for the trainers to solve the issues in this case (Abraham, S. 2005).
Planning to enrol some of the trainings which can contribute to generate a large amount of revenue and by maintaining good relationships with such students from various cultures is useful where they could visit them on a regular basis and by knowing their views about various issues in order to look for various opportunities to provide better services to their students. Also these new strategies contribute to incorporating the latest set of training which can sure add value to the Organizational growth. These strategies are useful to maintain a long term business relationship with the students to help them and understand them to enhance their performance (Nicolae, I. 2008).
3.2 The strategy chosen is appropriate for the given Organization as they have chosen to incorporate all of the latest trends in the model of training which can also set a vision for the future development of the Organization.
4.1 The roles and responsibilities of personnel who are charged with strategy implementation is dependent on the corporate strategy planning process identifies the planning process in selecting teams and the opportunities based on which they can plan their working strategies which is conducted by considering all types of environmental factors and by developing strategies with evaluation processes. Specific roles which are assigned for implementing the strategy would always involve the management or the senior officials who can take decisions and formulate new policies in order to enhance the working progress.
4.2 The estimated resource requirements for implementing a new strategy for a given organization
For implementing a new business plan or any established business there are various roles who are critical for the organization like the economic stakeholders, social and political stake holders, technological stakeholders and community stake holders. Apart from them there are others who play a critical role like the management who play an active role in implementing the polies, working on the plans and strategies which were formed and they can also communicate the critical changes to the management of the company whenever important decisions have to be taken.
References
Toolboxes, Inc; Organizational standards, viewed on May 4th 2015, https://toolboxes.flexiblelearning.net.au/demosites/series3/316/ip/ip_c21.html
Bsigroup, Inc; Benefits of using standards, viewed on May 4th 2015, https://www.bsigroup.com/en-GB/standards/benefits-of-using-standards/
bsigroup, Inc; Reducing risktoyourbusinessstandards,viewedon May9th,2013,https://www.bsigroup.com/en-GB/standards/benefits-of-using-standards/reducing-risk-to-your-business-using-standards/
Welsh M Jordan, 2011, ‘Cultural diversity and Ethnic Minority’. ‘Social Psychological aspects’. Pgs 84 – 164
Robert, M, 2012, ‘Cultural Minority and Ethnic Minority Psychology’. ‘Relationships with Natural Mentors’. Pgs 76 – 85
Appadurai, Arjun, “Disjuncture and Differences in the Global Cultural Economy”, (1990).
Bourdieu, Pierrre, “The Logic of Practice; Oxford Quality Press, ( 1988).
Connell, Robert, W, “ The Men and the Boys”: University of California Press, (2001).
Commission on Human Security, Human Security Nerw York: United Nations, 2003
Feinberg, Leslie, “Transgender Warriors, Boston: Beacon Press, (1996).
Pateman Carole, “The Sexual Contract : Cambridge Quality Press”, (1988).
Ewans, M, Afghanistan A New History: Richmond Curzon Press, (2001).
Brodsky, A. (2003) With All Our Strength: The Revolutionary Association of the Women of Afghanistan, New York: Routledge.
Chavis, M.E. (2004) Meena: Heroine of Afghanistan, New York: St. Martins Griffin
Esther A. 2012, Strategic Planning in Public Universities: A Developing Country perspective, Vol 3, No. 1
Mintzberg, H. 1994, The Rise and Fall of Strategic Planning, Harvard Business Review, Vol. 72, No.1, pp. 107-114.
Nicolae, I. 2008, Strategic Management in Nonprofit and Public Organizations, Management and Marketing Journal, Vol 6, Issue 1, pp. 185-191.
Abraham, S. 2005, Stretching Strategic Thinking. Strategy and Leadership, Vol.33, No. 5, pp.5-12. https://dx.doi.org/10.1108/10878570510616834
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