Disney Inc. Operational Planning
explanatory Essay
1558 words
Disney Inc. Operational Planning
Strengths and Weaknesses
There are four different types of planning within and organization,
strategic, tactical, operational, and contingency. Each will have an
impact on each other and how they are carried out. Disney’s
operational planning consists of how things are run on a day-to-day
basis within a year helping to reach the company’s strategic planning
goals.
“Operational planning identifies the specific procedures and processes
required at lower levels of the organization.” (Scott, 2004 ) Within
Disney this would be the processes for day-to-day operations within
the Theme parks, the stores, on the e-commerce site etc.
Some of the strengths Disney’s operational planning has would be their
customer focus. Take Disney’s theme parks were there hundreds of
employees working on daily basis trying to accomplish one thing, which
is to make the customer happy. Disney knows that if they don’t make
the customer happy, people will not return. Comparing the size of
Disney’s theme parks to that of a shopping store this can be a little
harder to accomplish. Each area of the theme park must be broken down
and managed, like different departments within a department store,
only on a much larger level. When the theme park will open, when
shifts will start and end, how many street vendors will be in the park
and where, and how long rides will last. These are all things that
need to be planned so the company can reach a larger goal. So how
Disney’s theme parks are managed would be part of their operational
strategy.
A weakness Disney may have in the operational strategy is the shear
size of the...
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...m the World Wide Web @
https://ecampus.phoenix.edu/content/eBookLibrary/content/eReader
Merriam-Webster Online Dictionaryam, Retrieved October 20, 2005.
Available: [Online].
http://www.m-w.com/cgibin/dictionary?book=Dictionary&va=opportunities
Retrieved Oct. 18, 2005, from http://corporate.disney.go.com/
The Walt Disney Company, Disney Online. Retrieved October 19, 2005.
Available: [Online]
http://corporate.disney.go.com/corporate/business.html
Thomas S. Bateman, Scott, (2004). Management; The New
Competitive Landscape. Chapter 4, Managing,
[University of PhoenixE-Book]. ISBN: 0072538651. Retrieved October 20,
2005, from University of Phoenix EResource, MGT/330-Theory,
Practice, and Application, Web site:
https://ecampus.phoenix.edu/secure/resource/resource.asp
In this essay, the author
- Explains disney's operational planning strengths and weaknesses. each will have an impact on each other and how they are carried out.
- Explains that operational planning identifies the specific procedures and processes required at lower levels of the organization. some of disney's strengths would be their customer focus.
- Compares the size of disney's theme parks to that of a shopping store. each area of the theme park must be broken down and managed.
- Explains how disney's theme parks are managed would be part of their operational strategy.
- Explains that disney's ground-level operations are always being viewed by the customer. if a ride breaks down, what is the backup plan?
- Explains that business operational opportunities are a good chance for advancement or progress. they describe opportunities as ways to position the business to succeed.
- Explains that the walt disney corporation has taken business opportunities to a different level by using its brand name recognition. they have mixed advertising, travel, and disney institute to the highest opportunities.
- Explains that walt disney corporation is a high point of travel opportunity to all of its visitors that travel from across the world to visit.
- Explains that disney is a trip destination for world travelers and the value visitors that are escaping the cold winter weather or want to get relief from the everyday doldrums.
- Explains that disney has taken advantage of their brand name to become a new professional business, using their disney institute.
- Analyzes how the walt disney corporation has utilized its name and brand institution to promote their theme parks, hotels, and businesses.
- Explains that disney exists in a competitive environment, which includes the firm and competitors, suppliers, customers, new entrants, and substitutes.
- Explains that disney must abide by many laws and regulations. the government can affect business opportunities through tax laws, economic policies, and international trade rulings.
- Explains that the faa, equal employment opportunity commission, national labor relations board, and environmental protection agency have the power to investigate company practices and take legal action to ensure compliance with the laws.
- Explains that the economic environment affects companies' ability to function effectively and influences their strategic choices.
- Explains that disney is aware of social changes and adjusts to them.
- Explains that disney changes its entertainments and prices according to the latest disney movie's out at that time. they also provide package deals when purchasing tickets for more than one entertainment location.
- Explains that existing competitors for disney would be other theme parks that compete for the same customer base which is adults with children.
- Explains that disney is innovative and keeps up on customer likes and dislikes designing new products, scheduling productions, and developing marketing plans because timely and accurate environmental information is critical for keeping walt’s competitive environment.
- Explains that trends disney, inc. continually seeks out opportunities that would influence their future operations. the company has put its various ventures into four main business groups: parks and resorts, media networks, studio entertainment and consumer products.
- Explains that disney took in $7 billion from its hotels, resorts and amusement parks in 2003. other attractions include the magic kingdom, epcot, disney-mgm studios theme park and disney's animal
- Explains that disney's beach club villas in florida, consisting of 208 units spread over five "wings," were opened in 2002.
- Explains that disney purchased abc, a major selling point for the deal was the acquisition of majority ownership in abc's crown jewel, espn.
- Explains that espn's success is relevant considering the low to which abc has sunk. disney has purchased partial ownership stakes in networks such as a&e, the history channel, soapnet, e!
- Explains that disney acquired fox family worldwide for $5.2 billion in 2001 and renamed it abc family.
- Explains how management has become one of the most successful corporations today and is used as a model for other organizational giants.
- Cites the walt disney company, disney online, and thomas s. bateman, scott. management; the new competitive landscape.
Related
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In this essay, the author
- Opines that effective hr professionals serve a much more pertinent role to their organization by using their knowledge skills and abilities to help them become more successful.
- Explains that strategic planning is a behavioral science and can be described as an effective process for determining goals and helping the organization’s management team focus on what it is they ultimately want to achieve.
- Explains the pre-planning stage, where key participants are identified, an effective line of communication is established, and analyzing the fact both internally and externally.
- Explains that the second question can be answered by performing an environmental scan by analyzing the information gathered in stage 1.
- Explains that the mission statement should be used all time in the organization, not just in occasionally when introducing new employees. the final stage will provide a tactical and operational plan that is documented and communicated to all involved parties
- Explains that hr plays a role in the strategic planning process by linking the working force and other resources to the organization’s strategies to optimize business practices.
- Concludes that well planned and implemented strategic planning may result in higher profitable for the organization. if an organization is competing in the global market, it will help them to maintain or maximize their advantages.
903 wordsRead More - Walt Disney Company Case Studyexplanatory essayThe Walt Disney CO. This is a publicly traded company in the US that has been ding quite well in the recent years. The company’s 10k filing for the year 2014. From this statement, the risks facing the company will be identified classified and suggestions made on how best to mitigate them in the subsequent areas. There are various areas that the risks can arise based on the company’s 10k filling (Mertz, 1999).
In this essay, the author
- Explains that a publicly traded company in the us has been ding quite well in recent years. from this statement, the risks facing the company will be identified and suggestions made on how best to mitigate them.
- Opines that the company should learn on the trends of the industry so as to remain competitive. they should also do research on shows that people want to watch at any one time.
- Explains the top-down approach to auditing a company's financial statements. the auditor identifies the controls that meet their objective and those that do not.
- Explains the sampling technique that best suits the company would be the coso approach which is aligned with the top-down approach. the auditor will define the control measures and objectives and then find out which measures already installed meet the objectives.
- Explains that the company's documentation will focus on adherence to fcc rules and financial reporting documents, identifying whether or not there is an understatement or over statement.
- Opines that the level of assurance that an audit report will offer should be foolproof in that it will cover all the risk.
- Explains the internal controls of the company that will be covered involve the various coso approaches that were already in place. the auditor will help in making sure that these controls are well implemented and that they cover all the areas that relevant and risky.
- Explains that walt disney knows about patient satisfaction. family practice management, 6(10), 33-35.
- Explains allen, p. j., walt disney world's utility reporting system, strategic planning for energy & the environment, 19(4), 37.
- Describes the three major risks disney faces, including stiff competition from other channels, and the federal communication commission regulation.
794 wordsRead More - CPC Strategic Planopinion essayBackground The Claims Processing Centers Program has been asked to evaluate the current CPC structure and configuration in light of declining premiums, decreasing claims inventories, and changing real estate options, and based on the findings, to make strategic recommendations that will optimize CPC operations over the next three to five years. To accomplish this goal, the Claims Processing Centers management team (Michelle Weatherson, CPC Program Manager, Dana Hirschel, FD CPC Manager, Karen Sims, FR CPC Manager, and Lori Wells, BK CPC manager) evaluated current workloads and the adequacy of staffing allocations in the present CPC facilities, projected future workloads and staffing needs in consideration of continued declines in claims inventory, increased operational efficiencies anticipated with the Fair Isaac bill review application, and known and potential changes in State Fund real estate holdings, and identified certain assumptions key to the recommendations that will follow later in this report. Assumptions • The CPCs will continue to experience recruitment and retention issues for the foreseeable future—particularly where other State Fund or state agency promotional opportunities exist in close proximity to CPC facilities • The Burbank CPC experiences historically high turnover rates due to a generally volatile employment market in the Los Angeles area; The Fairfield CPC experiences high turnover rates due to promotional opportunities within the Customer Service Center North and because of relative proximity to other employment opportunities in the Bay Area and Sacramento • A CPC in Vacaville will experience similar, if not greater, staffing challenges than already experienced in Fairfield due to its closer proximit... ...
In this essay, the author
- Opines that the cpcs will continue to experience recruitment and retention issues for the foreseeable future, especially where other state fund or state agency promotional opportunities exist in close proximity to their facilities.
- Explains that the burbank cpc experiences historically high turnover rates due to a generally volatile employment market in the los angeles area; and the fairfield
- Opines that vacaville's cpc will experience similar, if not greater, staffing challenges than fairfield due to its proximity to sacramento and other state agency jobs.
- Opines that hiring and/or retention of qualified supervisory staff at the assistant claims manager level will continue to pose challenges as long as there remains a disparity in ‘benefits’ between cpc acms
- Predicts that cpc staffing levels for the next several years will not significantly increase over 2007 allocations, except to accommodate new incoming workloads not previously budgeted for (state contract imaging work, ecf letters etc.).
- Opines that current overstaffs in burbank cpc will be cleared by march 1, 2008 if turnover continues at the current rate.
- Opines that the concept of 24/7 operations is not feasible for the immediate future due to staffing challenges and it support and maintenance constraints.
- Opines that workstation limitations in fresno cpc facilities preclude additional growth.
- Opines that cpc employee recruitment and retention issues can be minimized in locations where demographics suggest that salary levels are adequate for the cost of living and fewer competing job opportunities exist.
- Opines that building 3 of the new vacaville complex will be ready for cpc occupancy by june 2008.
- Opines that there is no business imperative to close operations at the burbank cpc before the scheduled lease expiration.
- Explains that the lease on the burbank cpc building expires in july 2010 and can be renewed if desired.
- Explains that consistency in work product with multiple cpc locations throughout the state is more difficult to achieve and more complex to manage. the right management structure is critical to success.
- Explains that multiple cpc locations provide greater flexibility in workload balancing and increased redundancies and failover opportunities in the event of a disaster.
- Explains that the expansion of the initial queue technician position (pts cross trained in scanning, indexing, and entering medical bills into bdm and the bill review application) allows for the greatest flexibility in addressing fluctuating workloads within the cpcs.
- Describes the strategic plan for the claims processing centers as a rolling shift of both workload and resources northward over the next three years to take full advantage of the stable employee base redding affords and the increased number of workstations planned for vacaville.
- Explains that all cpcs will continue to fill approved pt vacancies for the remainder of 2007.
- Explains that the claims processing centers program has been asked to evaluate the current cpc structure and configuration in light of declining premiums, decreasing claims inventories, and changing real estate options.
961 wordsRead More - Disney Strategic Initiativeopinion essayDisney Strategic Initiative Intro Strategic planning or long range planning determines where Disney is going in the next few years or more and what initiatives they will use to arrive there. Strategic analysis is just one of the three major steps to be performed in achieving a solid plan. As Disney encounters major issues such as the current state of the economy or positive opportunities, the planners must come to careful conclusions. To reach such conclusions we will have to examine a strategic direction; which will include strategic goals the organization should achieve and the overall strategies use to achieve them. The current financial state of the company should be included in the planning process.
In this essay, the author
- Explains that strategic planning determines where disney is going in the next few years or more and what initiatives they will use to arrive there.
- Opines that high inflation is a major risk to all sectors.
- Explains that it is the business' task to identify and respond to changes in demand.
- Explains that time value of money is an initial building block for financial planning, and disney must have a complete understanding of this concept to achieve financial security throughout this strategic initiative.
- Explains that arnold schwarzenegger proposes a new sales tax rate of 9.25% on all taxable goods and services. there are ten risks that are associated with the strategic initiative.
- Analyzes the challenges facing global businesses in 2008, citing the sub-prime mortgage crisis and credit crunch as examples of major financial shocks.
- Opines that supplies pose a clear challenge to the energy sector, including utilities and oil & gas, which is an impact on the financial sector.
1741 wordsRead More - Strategic Assessment and Plan: A Four-Phased Approach by J Sullivancomparative essayStrategic Assessment and Plan: A Four-Phased Approach In the article, Strategic Assessment and Plan: A Four-Phased Approach, Sullivan J., (2006), provides not only a pragmatic path to strategic planning, but framed an easy to use recapitulation of the four phases and the ten steps. The purpose of this paper is to compare and contrast the strategic planning process in this article with the process of strategic planning in Kaufman, Oakley-Browne, Watkins & Leigh, (2013), Strategic planning for success: Aligning people, performance, and payoffs. It will also show how these processes can be useful in the motion picture industry as well as the real estate business.
In this essay, the author
- Compares and contrasts the strategic planning process in sullivan's article, strategic assessment and plan: a four-phased approach, with the processes in kaufman, oakley-browne, watkins & leigh.
- Compares the four-phased approach and the six-step approach. both support the need for questions which ought to be asked and answered prior to any other steps being taken.
- Introduces sullivan's suggestion that occasional assessments should be in order for every organization and leader. strategic and critical thinking are the forerunners when tackling the new paradigms leaders face.
- Explains that sullivan's appraisal rung requires leaders to evaluate its mission and concerns, the responsibility of the leader, and take the pulse of organizational culture.
- Explains that responsibilities are reviewed in the early stages of the process, such as internal and external environments, strengths and weaknesses, and sullivan's guided hands-on leadership style, which discovers the skills and talents of an organizations workforce.
- Explains that the first phase ends with swat or swot assessments of the business environment, where internal strengths and weaknesses of an organization are evaluated as well as external factors.
- Explains that kaufman et al (2013) explores diverse approaches to a strategic planning process. it involves six factors which it claims is critical and is distinguished from other models.
- Explains kaufman et al.'s helicopter approach encourages a more holistic view of the organization versus looking from the ground. the four-phased approach also included wide angle views of mission and vision to plan for the future.
- Explains that macro refers to organization planning and client relationships, values and services, while micro focuses on internal relationships of the organizations employees, teams and providing value from inside of an organization to the outside world.
- Explains that the four step approach continues to phase two which starts with step 4. this step is where the organizations vision is developed. the leader cannot be the sole author.
- Explains that values are set forth in this phase and the organizational culture is developed. leaders take part and step up to set the tone. the interpersonal and professional relationships are determined.
- Explains that the four phase approach is grounded in biblical principles of servant leadership and the instructions jesus gave to the disciples.
- Explains that when jesus called the twelve together, he gave them power and authority to drive out all demons and cure diseases. he sent them out to proclaim the kingdom of god and to heal the sick.
- Explains that authority is assigned to task and resources are allocated as needed. the goal, who, the resources, steps, how and will are all addressed prior to moving on to phase 4.
- Explains that the fourth phase asks the question, are we getting there?
- Explains that these principles and concepts can be applied to any business. fireshoe products owners had to scan and scope their industry. hollywood studios and content providers rely on independent productions for programming needs.
- Explains that independent films have expanded tremendously in the past few years. they evaluated the market to see that dramas and comedies do well.
- Explains that fireshoe identified resources in the four-phase approach, and identified the "how are we going to get there question?" audiences are moving toward increased video-on-demand viewing and the market will expand to $32.6 billion dollars within the next few years.
- Explains that once the research, scoping, and resources have been completed, the company would have to do a little more work to determine which project would be selected.
- Explains that in the real estate business, one would consider a variety of factors to research during the initial stages of planning and the six step process.
- Concludes that both the four phased approach and the six step approach made it clear that it was crucial to clearly investigate, research and ask plenty of questions.
- Explains that both processes are wonderfully designed and useful to businesses and organizations.
1605 wordsRead More - Organizational Planningexplanatory essayOrganizational Planning - JPMorgan Chase &Co Strategic Goal A strategic goal of JPMorgan Chase & Co. is to help with the job market by ensuring staff is trained and experienced to be successful with their work and be ready for future jobs. According to “Jpmorgan Chase” (2014), Helping people develop the skills they need to compete for today's jobs can transform lives and strengthen economies”(New Skills at Work). Chase recognizes that not all employees will stay with the firm for their entire career, and when they leave the company they will be consumers in the marketplace. In addition, for the current employees they are servicing the customers and impacting today and tomorrow’s profits and risk impacts.
In this essay, the author
- Explains that jpmorgan chase & co.'s strategic goal is to help with the job market by ensuring staff is trained and experienced to be successful with their work and be ready for future jobs.
- Explains that the strategic goal's beneficial design allows internal and external stakeholders to help an employee that is experienced in their job functions, as well as other skills, allows them to have a higher chance for career mobility.
- Explains that the operational goal of jpmorgan chase & co. is assisting homeowners with getting out of default.
- Explains that the strategic goal has an effect on both internal and external stakeholders, while the operational goal of assisting homeowners with the delinquency has the same outcome.
- Explains that corporate responsibility is central to how we do business, starting with operating with integrity and extending to all the ways we help our clients and communities navigate a complex global economy. identifying strategic and operational goals will allow for greater success for all stakeholders.
560 wordsRead More - Strategic Planningexplanatory essayStrategic Planning 1. Appraise the formal planning efforts at the Copley Company for the period 1981 to 1984. INTRODUCTION Copley Manufacturing Company was primarily a manufacturer of a wide line of cutting tools and related parts and supplies. Late in 1980, Mr. Sagan, director of corporate development and Mr. Albert, executive vice president agreed that regular formal planning should become part of management’s way of life at Copley. EXECUTIVE SUMMARY
In this essay, the author
- Evaluates the formal planning efforts at the copley company for the period 1981 to 1984.
- Explains that copley manufacturing company was primarily a manufacturer of cutting tools and related parts and supplies. in 1980, mr. sagan, director of corporate development, agreed that regular formal planning should become part of management’s way of life.
- Opines that copley's planning effort in 1981 had made a good beginning because most agreed that the plans had provided useful information to aid the top management to obtain better understanding of its business activities.
- Explains that the planning effort in 1982 was temporarily obstructed by organizational changes and developments in copley. management effort had been placed on managing the acquisition of new company and on working out the segregation of divisions.
- Explains that the planning effort in 1983 was a success since copley recovered financially in net sales, as well as in earnings per share. the main reason for the success was the conduct of swot analysis.
- Explains that formal strategic planning was a way of life at copley. the 1984 planning effort would achieve impressive success because the 1983 planning process followed pretty well.
- Explains that copley manufacturing company, a manufacturer of cutting tools and related parts and supplies, had begun formal corporatewide planning in 1981.
- Explains that copley's formal planning involves reviewing and updating the strategic plan agreed to last year. the actual experience is extrapolated for the best estimate of the year as a whole.
- Explains the second step to be taken for formal planning at copley is to decide on assumptions and guidelines on the updated strategic plan.
- Explains that the third step for formal planning at copley is the first iteration of the new strategic plan.
- Explains that the fourth step to formal planning at copley is to analyze the strategic plan in depth. the planning committee in the divisions also discuss, resolve and report certain problems to corporate management.
- Explains that the fifth step to be taken for formal planning at copley is the second iteration of the new strategic plan.
- Explains that the final step to be taken for formal planning at copley is to do a final review and approve the strategic plan.
- Concludes that formal strategic planning is an important implementation for most of the company. copley must follow all the necessary steps in order to develop a great and complete formal strategy planning.
- Explains that copley manufacturing company had begun formal corporatewide planning in 1981. the formalized planning was ingrained into life through corporate groups, planning review meetings, and planning response meetings.
- Explains that mr. albert formed a corporate planning committee as the first step to move toward regular formal planning.
- Explains that formal planning was affected by organizational changes, such as the elevation of mr. albert to president, the creation of two corporate staff functions, and the segregation of the cutting tool division.
- Explains that in 1983, the divisional managers were required to reduce the number of pages for each product group strategy and the related financial five-year plan to allow more time for strategic considerations.
- Explains that for recent development, the actual responsibility for planning has been placed directly on the executive vice-president, group vice presidents and division managers. fred fisher became the director of corporate development when mr. sagan left copley for some reasons.
- Explains that an organization can improve its effectiveness if it can forecast its environment, anticipate problems, and develop a formal strategic plan to respond to those problems.
- Cites brethauer, d., hicks, t. and lee, a.
- Cites banker, rajiv, & holly, h. j. 1993, "an empirical study of cost drivers in the us airline industry".
- Explains that cutting tool division was successful in 1983, with eight other operating divisions. formal corporatewide planning was initiated in 1981 and modified in later years.
2431 wordsRead More - Tyco; Management Planningexplanatory essay“Planning activities include analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage, choosing corporate and business strategies, and determining the resources needed to achieve the organization’s goals” (Bateman & Snell, 2009, p. 19). The management planning of Tyco International affects the future success of the business. The planning process includes identifying the mission statement and goals of the company. Tyco also analyzes the internal and external influences of legal, ethical, and social responsibilities of the company. In analyzing these affects Tyco will apply strategic, tactical, operational, and contingency plans that can help manage the internal and external influences without affecting the success of the company.
In this essay, the author
- Explains that management planning of tyco international affects the future success of the business.
- Explains that tyco's goal of governance establishes policy and procedures encouraging employees to practice integrity and accountability dealing with shareholders and stockholders.
- Explains that tyco understands its customers' needs and wants by providing superior products and value to its consumers.
- Explains that tyco's board of directors are responsible for approving and implementing strategic and business plans in investing money to improve or expand its organization.
- Explains that tyco encourages employees to build on teamwork while maintaining the company's mission statement, goals, and reputation by providing quality service and products to its consumers.
- Explains that tyco needs to provide proper training and motivation to its employees in order to stay successful.
- Explains tyco's financial strength and flexibility is ensuring revenue, earnings per share, cash and return on invested capital objectives are met.
- Explains how tyco uses strategic planning in determining what the mission and goals of the company are. they also discuss its strengths, weaknesses, opportunities, threats, and trends.
- Explains that tyco develops its strategic planning for the future by breaking it down into short-term actions and plans.
- Explains that tyco details the level of strategic and tactical plan more. lower-level management executes the strategic plan while developing teams to answer basic questions.
- Explains contingency plans are used for developing and exploring other options that will gain the stakeholders support if a proposed plan needs changing. tyco holds focus group meetings with its employees to provide feedback on the effectiveness of all changes that affect the consumers.
- Explains that tyco's first step in planning was setting the mission statement and the goals of the company. management must analyze the influences of legal, ethical, and social responsibilities that can affect management.
- Explains that bateman, snell, and others have published management: leading and collaborating in the competitive world.
- Explains tyco is a vital part of your world.
- Explains that tyco's mission statement is to be customers' first choice in every market, by exceeding commitments, leveraging diverse brands, driving operational excellence, and committing to the highest standards of business practices.
- Explains that management provides legal, ethical, and social responsibilities for all levels of employees and management to abide by. in 2002, three former tyco employees were caught embezzling money from the company.
1872 wordsRead More - Strategic Planning and Managementexplanatory essayStrategic Planning and Management What is Strategic Management? Strategic planning is a process to provide direction and meaning to day-to-day activities. It examines an organization's values, current status, and environment, and relates those factors to the organization's desired future state, usually expressed in five- to ten-year time periods. The organization may be a program, school, school district, public or private agency, or any other institution that wishes to control its future. If the organization existed in a static environment in which no change was necessary or desired, there would be no need for strategic planning.
In this essay, the author
- Explains that strategic planning involves an orderly sequence of activities vital to the success of the whole.
- Explains that the question of whether to develop a strategic plan may be based on answers to the following questions.
- Explains that some groups of people, or inspired leaders, have a natural ability to respond quickly and effectively to new challenges and opportunities, making strategic planning superfluous.
- Explains that strategic planning is a process to provide direction and meaning to day-to-day activities.
- Explains that the planning process depends on a formal information system. external and internal assessments provide reality bases on which to build future plans.
- Explains that a strategic plan can help improve performance. it can stimulate future-oriented thinking based on shared mission. today's educational system must cope with demographics, family patterns, and workplace requirements.
- Explains that the strategic plan is the organization's guiding spirit, providing a common sense of direction and purpose
- Explains that there are many ways to assess the external environment. trend analysis is a method of examining changes over time in order to anticipate future conditions.
- Explains that if the answers to these questions support the development of a strategic plan, then the process can be initiated.
- Explains that implementation shifts the organization's focus from developing the strategic plan to acting upon it. implementation is a reality check on assumptions and future visioning of the planning process.
- Explains that evaluation and revision are implied in every step of strategic planning. the later a major revision occurs, the greater retrenchment necessary.
1995 wordsRead More - Considerations Of A Strategic Planexplanatory essayConsiderations of a Strategic Plan External Forces and Trends Considerations: 1) Legal and regulatory Mitzi 2) Global Mitzi New businesses will take longer to thrive with the United States falling economy. The faltering job market and the deepening slump in housing threaten to hurt consumer spending. Consumers are becoming more conscious of their spending and therefore using cash to pay for smaller necessary purchases. The cost of entertainment and other presumed luxuries may be pushed to the background by most families, when having to choose whether to pay for a bill or treat the family out.
In this essay, the author
- Analyzes how the faltering job market and housing slump threaten to hurt consumer spending. thriving businesses will understand the need to provide a service or product at affordable prices.
- Explains that the knowledge explosion has introduced new technology for nearly every business function. the technological element develops through periods of incremental change punctuated by technological breakthroughs that either improve or destroy the ability of firms in an industry.
- Explains that innovation has rapidly assumed prominence in world competition on a global scale. organizations must develop and deliver new and superior products or services in less time.
- Explains the social factors that affect a company are in regards to the culture of the external environment.
- Explains that external environmental factors can affect a business whether it is an opportunity, threat, or constraint. they can be divided into three interrelated subcategories of remote, industry, and operating environments.
- Explains competitive analysis is important for a business to determine the strengths and weaknesses of the competitors within the same market.
- Explains that once competitors have been grouped, business can analyze strategies and identify areas where the business is most vulnerable. a competitor's strengths and weaknesses are usually based on the presence and absence of key assets and skills.
- Explains that strategy is an extremely vital factor that has great impact on whether a company will fail or succeed.
- Opines that resistance to changing existing structures is a major challenge to new strategies in many organizations.
- Explains that many firms today have found value in multiple structures operating simultaneously in their company. people may be assigned within the company as part of a functional structure, but they work on teams or other groupings.
- Explains that executives employ management processes that maximize the anticipation of environmental changes and unexpected internal and competitive demands. systems should be designed to optimize their performance towards our goals.
- Explains that managing activities internal to a firm is only part of the modern executive's responsibilities. the executive must also respond to the challenges posed by the firm’s immediate and remote external environments.
- Explains the importance of setting short-term goals for a business, stating that the key to goal setting is to be specific about what the business needs and what direction it should travel.
- Explains that the internal culture represents the people who make up the company and their way of operating the business.
- Opines that technology can help or hinder a company. the introduction of new equipment or technology creates the need for change within the workplace.
- Explains that internal forces for innovation in organizations develop from a number of sources, including alternations of strategies and plans ethical difficulties that arise because of employee behaviors, and decisions that require innovation.
- Explains that intellectual property is any intangible asset that consists of human knowledge and ideas. most such assets cannot be recognized on a balance sheet when internally generated.
- Cites leadership mitzireferencesentreprenuer.com, 2006 competitive analysis, and the new business blog, setting goals for your business.
1447 wordsRead More