This paper is a reflection on three simulations as they relate to strategic planning. The first simulation, “Thinking Strategically”, highlights the importance of environmental scanning. The second simulation, “Developing Grand Strategies”, challenged decisions made which lead to effective strategy formulation and choices. The third simulation, “Creating a Strategic Road Map”, provided a simulated experience of how to build a strategic roadmap and the importance and effectiveness of formulating action plans and goals. This reflective approach will convey the lessons learned relative to the importance and effectiveness of the key learning points obtained through each simulation. The concepts and analytical tools that will be used in the Celestica’s strategic plan will be included. The challenges faced by strategic planners will be discussed from the discoveries in the simulations. The environmental scanning provides the opportunity for advanced insight and provides early warnings for external conditions facing corporations. As shown in the simulation, “Thinking Strategically”, environmental scanning also allows the opportunity for a company to promote vision and direction for all stakeholders. The information gathered as a result of environmental scanning, also provides the company with future trends data and can warn company officials of the declining of trends on the horizon. The simulation also displayed the SWOT analysis as an effective tool of relative importance and effectiveness within environmental scanning. An analysis of strengths and weaknesses is obtained through internal sources, whereas, opportunities and threats information is obtained externally. In identifying the strengths, weaknesses, opportunities, and threats all these factors are critical for the strategy. Analyses of each including a matched pair analysis are essential in determining the future prospects of one’s industry and developing a specific industry niche. In the simulation, the bike company built a business on baby boomers and had a brand image of male extreme bikers. However, women comprise almost half of the biking industry. BJ’s identify key strategy concepts by the use of the SWOT analysis to achieve the long-term vision of becoming the No. 1 specialty bicycle retailer in terms of revenue in the next five years. The approach to increase marketing efforts towards women, including hiring female consultants, seemed the most logical in a global environment where women’s sports and athleticism is gaining in popularity. Scanning one’s environment creates a clearer global portrait and impacts all decisions necessary for optimal business outcomes. Throughout the simulation, the major lessons learned was the value of utilizing various sources of information and implications that such can have on final outcomes of strategic planning.
Background Information In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.
The text begins by examining a series of wargames developed for the military and the federal government to determine the best options for growing problems around the world (Mark Herman). Additionally, the ground work is placed to outline the goals which are expected by the client. The developers of the simulation begin by finding, with the greatest precision possible, what goals the client plays to achieve (Mark Herman). Moreover, the developers ask a number of questions, to include, is the client needing confirmation of an existing strategy, are they looking for potential weaknesses in their operation, are they looking to develop a new product, and the client needs validation to move forward with the introduction (Mark Herman). If during the test a fundamental weakness or an unforeseen problem arises the methodology is reworked and the test can be run again, all this is done long before any substantial money has been lost. Furthermore, if these tests are conducted by the military, a strategy for either a war time crisis or a civil catastrophe can be formulated long before human live is placed in harm’s way.
After analyzing the Coastal Medical Center, it is apparent that the employees and staff have no conception of the mission, vision, and values of this health care facility. In addition to this lack of structure, CMC has many projects in the midst of production that lack support of a common goal, employees are unsatisfied with their jobs, the two boards lack ability to agree on strategic decisions for the organization,, and the medical center has a dismal reputation when it comes to quality care.
As a business in a competitive market we must be able to determine what may assist us to accomplish our objectives? What obstacles we must overcome or minimise to achieve our desired results? To achieve this we must carry out a strategic plan, which is a straightforward model known as a SWOT analysis (strengths, weakness, opportunities and threats). This will help us to establish our overall strategic position, based on internal issues (strengths and weakness) and external issues (opportunities and threats).
A SWOT analysis is used to assess a company’s strengths and weaknesses found within the company, as well as opportunities and threats that emerge from the external environment. In this analysis, the main strengths, weaknesses, opportunities, and threats facing the Ford Motor Company will be discussed to provide a powerful analysis tool that supports the planning process for marketers.
Qualitative research provides insight into developing phenomena or offers a new perspective on current trends. Prior to the creation of a dynamic strategic plan, the SWOT analysis offers a critical assessment of an organization’s competitive position, though the four areas of assessment are not weighted, nor does the utilization of the tool provide specific direction for the organization and requires subjective interpretation of the data. Input from stakeholders brings validity to the information gathered while conducting a SWOT
By the end of 1998 though, there was evidence of a crisis occurring. Customers and media pulled together to assist senior management partake in an internal audit to identify the problems and see if they could come to a solution. The purpose of this assignment is to construct a SWOT analysis, highlighting each of the strengths, weaknesses, opportunities and threats that were highlighted in the internal audit. The SWOT analysis is contained within the marketing plan and is the third step in the marketing planning process, coming after the Marketing audit and before any assumptions. (Joisce, Ted (2002), Marketing Planning Lecture Notes – 14/10/02, Mission, Objectives, Strategy, Tactics)
The SWOT analysis: The study of the firm's Strengths, Weaknesses, Opportunities and Threats called SWOT analysis, a key step in flushing out known performance issues that are important to the growth of the organization addressed in the corporation strategic plan. The issues identified in the SWOT analysis help leadership to come up with a plan and strategy to achieve the overall mission of the company (Strategic Planning, n, d). Target Corporation is one of the largest public retailing company in the US having more than 1700 stores serving guests nationwide. Target group and its brand position are evaluated in the market using SWOT analysis.--
In this Case Study Analyses, an objective SWOT Analyses will be done to help identify potential strengths, weaknesses, opportunities, and threats within the Nike Corporation.
If asked what strategic planning is one could interpret it as simply a road map that can guide the organization in the right direction. It is very unlikely that an organization would know which direction to take without a sense of direction. Managers are faced every day with decisions that have a major impact on the direction the organization must take, therefore, strategic planning can play an important role in guiding managers in the right direction. In other words strategic planning is a tool that management can use to give them a sense of direction that will guide them in doing a better job and to ensure that all the members of the organization are working toward the same goals
There are various schools of strategy that have been vigorously debated on and after a consolidated effort; three schools of strategy were produced. They are the planning school, the positional school, and the resource based school of strategy (Ritson, 2013). All these strategies will be described with examples to buttress each.
In this report, we adopt SWOT analysis to determine the strategic fit between the company’s internal, distinctive capabilities and external threats in the current market. Recommendations were provided in the later part of the report on the possible approach to tap on external market opportunity and our suggestion to resolve current issues faced by the company.
Without a successful business strategy put in place the company would fail and be unable to compete with competitors. There would be on way of knowing what resources are required. No planning for the future of the business. If there are no targets set out to achieve there would be no way of measuring how successful the company has been.
Strategic management is a universal concept that can help many different fields with their planning, their mission, and their competitive advantages. One huge similarity between Marketing, Supply Chain Acquisition, Human Resources, and Information Systems is the use of a SWOT analysis. A SWOT is an “analysis, which takes information from an environmental analysis and separates it into internal strengths and weaknesses, as well as its external opportunities and threats” (Investopedia, 2016). This is important in any field since it can potentially help identify a competitive advantage as well. What is interesting is that these SWOT analyses are used in such differing ways all to accomplish the same
Good strategic planning is typically based on a rich mix of conceptual, qualitative and quantitative information about what works for whom.