Resource: Implementation, Strategic Controls, and Contingency Plans assignment with facilitator feedback Complete a strategic plan for your organization of no more than 3,500 words. Update your plan to incorporate facilitator feedback from the drafts you submitted in previous weeks. Include the following: Table of contents Executive summary, with a 2-page maximum Company background, organizational mission, vision, and value statements Note. For a start-up, you should focus on the backgrounds and accomplishments of key anticipated management personnel. The goal is to convince the investor that these individuals are trustworthy and successful. Environmental scan Review of Week 4 strategies and a recommendation for the best strategy for your organization Implementation plan including contingency plans for identified risks Prepare a Microsoft® PowerPoint® presentation of no more than 10 slides with speaker notes. Your audience will play the board of directors or a venture capital firm. The focus is to sell your recommendations to the board or venture capital firm and obtain approval for funding your plan.
1. These create differences across national boundaries that influence how people interact, read personal cues, and otherwise interrelate socially. 2. The DMAIC (define, measure, analyze, improve, and control) process is relevant to 3. While these may under perform established products in mainstream markets, they often offer features or capabilities appreciated by some fringe customer group. 4. A leader’s vision should be 5. Short-term objectives assist strategy implementation by identifying measurable outcomes of action plans or functional activities, which can make feedback, correction, and evaluation 6. Power Fund is a long-standing brokerage firm with a great history of high returns and well-managed growth. The managers at Power Fund repeatedly refer to terms like quality, growth, and reliability in the firm’s advertisements. This demonstrates managers’ 7. This is concerned with tracking a strategy as it is being implemented, detecting problems or changes in its underlying premises, and making necessary adjustments. 8. This, called kaizen in Japanese, is the process of relentlessly trying to find ways to improve and enhance a company’s products and processes from design through assembly, sales, and service. 9. Strategic surveillance must be kept 10. The effort to familiarize future leaders with the skills important to the company and to develop exceptional leaders among the managers you employ is 11. Key, routine activities that must be undertaken in each department of the organization are 12. CCC21 stands for 13. Discussion about and agreement on short-term objectives help raise issues and potential conflicts within an organization that usually 14. This idea factor involves following demographic and other broad trends and trying to develop ideas that may be relevant and useful. 15. Organizational culture includes important assumptions shared by members of the organization. These assumptions are often 16. These are also referred to as crowdsourcing or open innovation. 17. Short-term objectives are usually 18. In which type of strategy do functional tactics translate into action designed to accomplish specific short-term objectives?
1. Which of the following represents an operating opportunity to build value or sharing? 2. Firms that enjoy higher profit margins are using which of Michael Porter’s generic strategies? 3. If a textile producer acquires a shirt manufacturer, this is called 4. The core competency must represent a major source of value to be a basis for competitive advantage. Furthermore, the core competency 5. Which of the following companies is a good example of a low-cost leader? 6. The grand strategy in which the firm directs its resources to the profitable growth of a single product, in a single market and with a single technology is termed 7. Which matrix involves a framework that can help ensure that businesses’ strategies are consistent with strategies appropriate to their strategic environment? 8. For the ABC Company, the Alpha business is in a dominant market share position in a mature market. As per the BCG matrix, Alpha is a 9. What is it called when current products are marketed, often with only cosmetic changes, to customers in related market areas? 10. Which matrix makes fine distinctions among business portfolio positions with the inclusion of high/medium/low axes? 11. Which of the following is a value discipline? 12. Which of the grand strategies is typically lowest in risk? 13. Which of the following is a generic strategy developed by Michael Porter? 14. The acquisition of one or more businesses operating at the same stage of the production-marketing chain is an example of 15. Firms that follow this type of generic strategy can sometimes have difficulties succeeding without compromising the key attributes of a company’s products or services. 16. Companies that pursue this value discipline strive to produce a continuous stream of state-of-the-art products and services. 17. The most compelling reason companies should diversify can be found in situations when
1. Which of the following financial statements is concerned with the company at a point in time? 2. A cost which remains constant per unit at various levels of activity is a: 3. M&M Proposition 1: Dynamo Corp. produces annual cash flows of $150 and is expected to exist forever. The company is currently financed with 75 percent equity and 25 percent debt. Your analysis tells you that the appropriate discount rates are 10 percent for the cash flows, and 7 percent for the debt. You currently own 10 percent of the stock. If Dynamo wishes to change its capital structure from 75 percent equity to 60 percent equity and use the debt proceeds to pay a special dividend to shareholders, how much debt should they use? $600 $375 $225 $321 4. Serox stock was selling for $20 two years ago. The stock sold for $25 one year ago, and it is currently selling for $28. Serox pays a $1.10 dividend per year. What was the rate of return for owning Serox in the most recent year? (Round to the nearest percent.) 5. The process of evaluating financial data that change under alternative courses of action is called: 6. What decision criteria should managers use in selecting projects when there is not enough capital to invest in all available positive NPV projects? 7. The convention of consistency refers to consistent use of accounting principles: 8. External financing needed: Jockey Company has total assets worth $4,417,665. At year-end it will have net income of $2,771,342 and pay out 60 percent as dividends. If the firm wants no external financing, what is the growth rate it can support? 9. Which of the following is considered a hybrid organizational form? 10. An activity that has a direct cause-effect relationship with the resources consumed is a(n): 11. Next year Jenkins Traders will pay a dividend of $3.00. It expects to increase its dividend by $0.25 in each of the following three years. If their required rate of return if 14 percent, what is the present value of their dividends over the next four years? 12. TuleTime Comics is considering a new show that will generate annual cash flows of $100,000 into the infinite future. If the initial outlay for such a production is $1,500,000 and the appropriate discount rate is 6 percent for the cash flows, then what is the profitability index for the project? 13. Your firm has an equity multiplier of 2.47. What is the debt-to-equity ratio? 14. If a company’s weighted average cost of capital is less than the required return on equity, then the firm: 15. When a company assigns the costs of direct materials, direct labor, and both variable and fixed manufacturing overhead to products, that company is using: 16. The major element in budgetary control is: 17. Horizontal analysis is a technique for evaluating a series of financial statement data over a period of time: 18. Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? 19. The break-even point is where: 20. Turnbull Corp. had an EBIT of $247 million in the last fiscal year. Its depreciation and amortization expenses amounted to $84 million. The firm has 135 million shares outstanding and a share price of $12.80. A competing firm that is very similar to Turnbull has an enterprise value/EBITDA multiple of 5.40. What is the enterprise value of Turnbull Corp.? Round to the nearest million dollars. 21. Which of the following is considered a hybrid organizational form? 22. The most important information needed to determine if companies can pay their current obligations is the: 23. Gateway, Corp. has an inventory turnover of 5.6. What is the firm’s days’s sales in inventory? 24. Horizontal analysis is also known as: 25. Which of the following presents a summary of changes in a firm’s balance sheet from the beginning of an accounting period to the end of that accounting period? 26. Ajax Corp. is expecting the following cash flows – $79,000, $112,000, $164,000, $84,000, and $242,000 – over the next five years. If the company’s opportunity cost is 15 percent, what is the present value of these cash flows? (Round to the nearest dollar.) 27. Bond price: Regatta, Inc., has six-year bonds outstanding that pay a 8.25 percent coupon rate. Investors buying the bond today can expect to earn a yield to maturity of 6.875 percent. What should the company’s bonds be priced at today? Assume annual coupon payments. (Round to the nearest dollar.) 28. Process costing is used when: 29. Jack Robbins is saving for a new car. He needs to have $21,000 for the car in three years. How much will he have to invest today in an account paying 8 percent annually to achieve his target? (Round to nearest dollar) 30. The accumulation of accounting data on the basis of the individual manager who has the authority to make day-to-day decisions about activities in an area is called: 31. Variance reports are: 32. The cash conversion cycle? 33. In a process cost system, product costs are summarized: 34. Internal reports that review the actual impact of decisions are prepared by: 35. How firms estimate their cost of capital: The WACC for a firm is 13.00 percent. You know that the firm’s cost of debt capital is 10 percent and the cost of equity capital is 20% What proportion of the firm is financed with debt? 36. The group of users of accounting information charged with achieving the goals of the business is its: 37. An unrealistic budget is more likely to result when it: 38. Jayadev Athreya has started his first job. He will invest $5,000 at the end of each year for the next 45 years in a fund that will earn a return of 10 percent. How much will Jayadev have at the end of 45 years: 39. Firms that achieve higher growth rates without seeking external financing: 40. Teakap, Inc. has current assets of $1,456,312 and total assets of $4,812,369 for the year ending September 30, 2006. It also has current liabilities of $1,041,012, common equity of $1,500,000 and retained earnings of $1,468,347. How much long-term debt does the firm have?
Complete the external environmental scan for your organization. Perform an internal competitive environmental scan for your organization. Write a summary between 1,300 and 1,400 words that does the following: Identifies and analyzes the most important external environmental factor in the remote, industry, and external operating environments Identifies and analyzes the most important internal strengths and weaknesses of your organization: include an assessment of the organization’s resources Assesses the organization’s competitive position and possibilities Analyzes the structure of the organization and how this affects organizational performance Format your paper consistent with APA guidelines.
Write a proposal between 650 to 750 words, outlining the research approach you will use for your Strategic Plan, due in Week 6. Include the following: How you intend to ensure the organization’s vision, mission, and people strategies and values statements are aligned with the proposed strategic plan. Sources you expect to use to perform an external environmental analysis Sources you expect to use to perform an internal environmental analysis
1. Judging the appropriateness of a particular action based on a goal to provide the greatest good for the greatest number of people is what ethics approach? 2. The most critical quality of ethical decision making is 3. What do strategic managers call a flow of information through interrelated stages of analysis toward the achievement of an aim? 4. According to stakeholder theory, in a survey of over 2000 directors from over 290 U.S. companies, which of these stakeholders was perceived to be least important? 5. Which of the following strategic decision makers implement the overall strategy? 6. The strategic decision makers in the firm are responsible for 7. This statement of a company’s philosophy usually appears within the mission statement and specifies basic beliefs of a firm. 8. Of the three levels of strategy that are part of an organizations decision-making hierarchy, which level develops annual objectives and short-term strategies in such areas as production, operations, and research and development, finance and accounting, marketing, and human relations? 9. For the past 28 years, ABC, Inc. has made a significant investment of time, money, and other resources to increase the literacy rate in adult Americans. This represents which of these principles of successful collaborative social initiatives? 10. This statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future. 11. The idea that businesses have a duty to serve society as well as the financial interest of stockholders is called 12. A broadly framed but enduring statement of a firm’s intent is defined as the company 13. Which level of strategy uses a portfolio approach? 14. A major consequence of the Sarbanes-Oxley Act of 2002 has been the 15. Which of these is true about Sarbanes-Oxley Act of 2002? 16. The behavioral consequences of strategic management are similar to those of 17. Judging the appropriateness of a particular action based on equity, fairness, and impartiality in the distribution of rewards and costs among individuals and groups is what ethics approach used by managers? 18. Which law revised and strengthened auditing and account standards?
1. A firm must know where to position its product based on price and 2. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing? 3. The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place? 4. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called 5. New-to-the-world products are ________. 6. These social responsibilities are those that are voluntarily assumed by a business or organization. They include public relations activities, good citizenship, and full corporate social responsibility. 7. When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves 8. Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company? 9. The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda 10. BMW’s “The ultimate driving machine,” American Express’ “Don’t leave home without it,” New York Times’ “All the news that’s fit to print,” and AT&T’s “Reach out and touch someone” are all examples of ________. 11. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own. 12. The strategic factor that involves the beliefs, values, attitudes, opinions, and lifestyles of persons in the firm’s external environment, as developed from cultural, ecological, demographic, religious, educational, and ethnic conditioning 13. A set of ideas on organizational control based on the belief that the separation of the ownership from management creates the potential for the wishes of owners to be ignored refers to 14. This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid 15. When performing this analysis, it is good for strategic planners to consider similarities between the benefits the customers derive from the products and services that other firms offer 16. This is a historically popular technique through which managers create a quick overview of a company’s strategic situation—it is based on achieving a sound fit between internal resources and the external situation 17. A company that attempts to lead its industry in price and convenience by pursuing a focus on lean and efficient operations is pursuing what strategy? 18. Leaders galvanize commitment to embrace change through clarifying strategic intent, building an organization, and 19. Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a “green marketing” program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program’s chances of being successful? 20. This is an important structural decision and resultant separate activities need to be coordinated and integrated back together as a whole so the business functions effectively 21. Company X’s principal strength is its inbound and outbound logistics system; its relative weakness, however, is after-sales service. Its competitor, Company Y, however is often plagued with lagging shipments and an inflexible distribution setup. Company Y remains successful because it maintains a fully staffed service department and, as a result, the company is known for its dependable service. This type of analysis allows them to identify ways to build on relative strengths and avoid dependence on capabilities at which the other firm excels. 22. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group 23. How do functional tactics compare to business strategies? 24. Under which of the following conditions is the frequency the most important factor in media selection? 25. What is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image? 26. Which control should periodically reassess its approach to the marketplace with a good marketing audit? 27. One of the ways to change the course of a brand is to modify the product. Under product modification, ________ adds size, weight, materials, supplements, and accessories that expand the product’s performance, versatility, safety, or convenience 28. Firms using this generic strategy attempt to build customer loyalty by stressing a specific product attribute above other product qualities 29. Large-scale, future-oriented plans for interacting with the competitive environment to achieve the company objective refers to its 30. Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________.
Write a draft between 1,700 to 1,800 words of the strategic plan for your organization, including the following: Implementation plan Objectives Functional tactics Action items Milestones and a deadline Tasks and task ownership Resource allocation Any required organizational change management strategies that would enhance successful implementation Key success factors, budget, and forecasted financials, including a break-even chart Risk management plan, including contingency plans for identified risks
Write a paper between 1,300 and 1,400 words that evaluates alternatives an organization must consider to realize growth. Identify the best value discipline, generic strategy, and grand strategy for your organization. Recommend a strategy or combination of strategies the organization should implement.
1. One of the limitations of the SWOT analysis is that it can be 2. This structure is one in which a set of relatively autonomous units are governed by a central corporate office but where each operation has its own functional specialists who provide products or services that are different from those of other operations. 3. Value chain analysis takes a 4. Today, global means 5. This is a method of comparing the way a company performs a specific activity with a competitor, potential competitor, or company doing the same thing. 6. The structure of a simple organization 7. Once a hypothesis about competitive advantage has been developed by a firm through three circles analysis, it should be tested by 8. This is an organization structure most notable for its lack of structure wherein knowledge and getting it to the right place quickly is the key reason for the organization. 9. In VCA, which method of cost accounting is preferred? 10. Twenty-first-century corporations reflect 11. The first step of this type of analysis involves a firm determining what their customers value and why they value it. 12. This type of organizational structure combines the advantages of functional specialization with the advantages of product-project specialization. 13. Companies committed to this process attempt to isolate and identify where their costs or outcomes are out of line with what they identify as the best practices of competitors or other companies or organizations that undertake similar tasks. 14. Which of the following is an example of a primary activity in the typical firm? 15. One of the limitations of SWOT analysis is that it can do this to a single strength or element of strategy. 16. This type of organization or structure is one that identifies a set of business capabilities central to high-profitability operations and then builds a virtual organization around those capabilities. 17. This is an internal analysis technique wherein strategists examine customers’ needs, company offerings, and competitors’ offerings to more clearly articulate what their company’s competitive advantage is and how it differs from those of competitors. 18. These are arrangements between two or more companies in which they both contribute capabilities, resources, or expertise to a joint undertaking, usually with an identity of its own, with each firm giving up overall control in return for the potential to participate in and benefit from the relationship.
1. This group is considered powerful if it is not obliged to contend with other products for sale to the industry. 2. What Human Resource component within its operating environment is a major element of a firm’s ability to satisfy its personnel needs? 3. The environment that is typically subject to much influence by the firm is 4. A firm’s external environment is divided into various subcategories that include 5. This term refers to descriptive characteristics that can be used to differentiate groups of present or potential customers. 6. When managers consider the general availability of credit, the level of disposable income, and the propensity of people to spend, they are considering what factors? 7. This environment in the strategic planning process comprises factors in the competitive situation that affect a firm’s success in acquiring needed resources or in profitably marketing its goods and services. 8. A firm’s access to needed personnel is affected primarily by four factors that include 9. Which of these is a determinant of entry, according to Porter? 10. This element of employment or labor represents the workers in their negotiations with employers through the process of collective bargaining. 11. Which threat of entry creates a barrier by forcing entrants to spend heavily to overcome customer loyalty? 12. This is considered a collection of firms that offer similar products or services that customers perceive to be substitutable for one another.. 13. Economies of scale in an industry refers to 14. This information is used to explain or predict some aspect of customer behavior with regard to a product or service. Information such as usage rate, benefits sought, and brand loyalty can provide significant aid in the design of more accurate and profitable strategies. 15. This termrefers to the relationships among human beings and other living things and the air, soil, and water that supports them. 16. This factor considers or provides creative adaptations that can suggest possibilities for new products or for improvements in existing products or in manufacturing and marketing techniques. 17. The quasi-science of anticipating environmental and competitive changes and estimating their importance to an organizations operation refers to 18. Because the quantity, quality, price, and accessibility of financial, human, and material resources are rarely ideal, assessment of suppliers and creditors is critical to an accurate evaluation of which of the firm’s external environments?
1. The concept that some leadership attributes will work in some situations but not in others can be described by the 2. Sam Meyers manages a telemarketing call center. He has 20 employees working for him who are displeased with the way he yells and threatens to terminate them for what they see as small issues. Which kind of power is Sam using to get the job done? 3. Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled? 4. In performing a SWOT analysis, which of the following would be considered as a threat? 5. During the implementation of a project, which of the following should be the primary focus of a consulting firm?· 6.Which of the following is considered a major process flow structure? 7. Some studies indicate the best approach for transformational change may have the chief executive officer create an atmosphere for change 8. Deming’s PDCA (plan, do, check, and act) cycle underlies what inherent Six Sigma principle? 9. What can affirmative action assist organizations in achieving that diversity initiatives cannot? 10. According to the job characteristics model, autonomy is defined as the degree to which 11. Active listening requires: 12. An example of control criteria that can be used in any situation is ________. 13. Because practical considerations make job tryouts for all candidates infeasible, it is necessary to __________ the relative level of job performance for each candidate on the basis of available information. 14. Which of the following is ISO 14000 primarily concerned with? 15. Which of the following is a desirable strategy for managers aiming to reduce the negative consequences of rumors? 16. ________ refers to an individual’s belief that he or she is capable of performing a task. 17. When an employee volunteers to run a canned food drive, this is an example of 18. As a university student, your institution’s social principles and practices reflect on you, as a stakeholder, in the organization. Therefore, it is your right to question how these practices should be evaluated in relation to the social issues that the school is addressing. If your university provides job-share programs, builds a day-care facility, and only uses recycled paper, it could be said to be ________. 19. A project can be segmented into which of the following? 20. In order to make their firm a learning organization, managers should 21. Conflicts can be resolved by withdrawing from them or suppressing them. This conflict-management technique is known as ________. 22. Adoration of a charismatic leader by followers can lead to 23. Which of the following statements is true with regard to the effectiveness of tactics? 24. ____________ is the biggest hurdle to overcome in a pay-for-performance plan. 25. Mary arrives at her new job. Before she can begin actually doing the work, she must complete a series of activities including role playing and virtual reality interactions. What type of training method does Mary’s new employer use? 26. In _____, workers have been fired for refusing to quit smoking, for living with someone without being married, drinking a competitor’s product, motorcycling, and other legal activities outside of work. 27. Which of the following is one of Dr. Eli Goldratt’s rules of production scheduling for optimized production technology? 28. The Civil Rights Act of 1991 offered what for victims of unintentional discrimination? 29. Which of the following is an element that addresses elimination of waste under lean production? 30. Training that results in ______ is costly because of the cost of training (which proved to be useless) and the cost of hampered performance.
Take the Ethics Awareness Inventory and Ethical Choices in the Workplace assessments to assess your values. Write a paper between 600 to 700 words in which you do the following: Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Explain how your ethical perspective has evolved throughout the program.
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