...LEVELS OF CORPORATE PLANNING AND INNOVATION Name: Institution: Date: Executive Summary One student in an Executive MBA class based his response on introduction of a self scanner in checkout terminals in a British supermarket to an assignment that required them to link a significant innovation that an organisation had introduced with strategic change in the organisation. The student failed the assignment. This report will examine the reasons why the student failed by looking at the differences between strategic, tactical and operational planning. The report analyses what causes the strategic changes in an organisation and what qualifies as strategic change. The report also discusses innovation and the different levels of innovation. This report also discusses whether the student was right to classify self-scanner checkout terminals as a significant innovation that could be linked to strategic change in the organisation. Table of Contents Executive Summary 2 1 Introduction 4 1.1 Business Policy 4 1.2 Strategic Change 4 2 Strategic, Tactical and Operational Planning 5 2.1 Statement of the Objective 5 2.2 Differences between Strategic, Tactical and Operational Planning 5 3 Innovation 8 3.1 What is Innovation? 8 3.2 Impact of innovation on growth strategies 10 4 Conclusion 11 Introduction This report will identify reasons the student failed his assignment...
Words: 2916 - Pages: 12
...Management – Strategic Planning: Shriner’s Hospital for Children, Shreveport, Louisiana Name: Institution: Date: The Shriner’s Hospitals for Children of Shreveport, Louisiana published their strategic plan online. The plan was developed based on the findings of a 2012 Health Needs Assessment study, which was commissioned by their Shreveport Community Health Needs Assessment Steering Committee. Environmental Scan The study and ultimate strategic plan, very succinctly identified their regional medical healthcare landscape, regional economic and demographic statistics. Based on this data, the hospital determined that they could have a positive influence, not just within their 9-parish region, as well as, on the overall health of Louisiana’s pediatric population. Theory of Change and Program Portfolio According to the theory of change, for any change to take place, there should be a comprehensive description and illustration as to the way and reason the change would be the thing that is expected in that specific context. The entire theory focused on the specific gap that described as lacking for a program to work. All the goals are set, and the condition necessary is also explained. How the initiative would work should be explained together with the set goals to be achieved when the changes take place. Having the theory`s ideas in mind, access to care was the major issue identified. Proposed programs initialized included an increase...
Words: 1437 - Pages: 6
...Assignment Front Sheet Qualification Unit Number and Title Pearson BTEC Level 5 HND Diploma Business Unit 7 : Business Strategy Student name Assessor Name Internal Verifier Name Patrice KABEYA M T Islam Assignments Hand-Out Date Formative/Draft Submission Summative/Final Submission (At least task 1 or outline of the (Task 1, 2, 3 & 4) entire report) th rd th th Week 1: 29 September 2014 – 3 10 November 2014 12 January 2015 October 2014 Evidence Learning Outcome In this assessment you will have the Assessment (Page no) opportunity to present evidence that shows Task no. Criteria you are able to: 1 Assess how business missions, visions, 1.1 objectives, goals and core competencies inform strategic planning LO1: Be able to 1 Analyse the factors that have to be considered understand the process 1.2 when formulating strategic plans of strategic planning 1 Evaluate the effectiveness of techniques used 1.3 when developing strategic business plans 2 Analyse the strategic positioning of a given 2.1 organisation by carrying out an organisational audit 2 Carry out an environmental audit for a given 2.2 LO2: Be able to organisation formulate a new strategy Assess the significance of stakeholder analysis 2 2.3 when formulating new strategy Present a new strategy for a given organisation 2 3 3.1 Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or...
Words: 2107 - Pages: 9
...Implementation of Strategic Planning on Farm Businesses: Lessons from Danish projects Mogens Lund and Johannes Christensen Danish Research Institute of Food Economics Rolighedsvej 25 DK-1958 Frederiksberg (Copenhagen) The article contains a survey and review of the Danish projects directed the development and implementation of strategic management on farm firms. The aim of strategic management in agriculture, formulation and implementation of the long-term farm strategy and the functioning of research, consultancy and learning are the key issues addressed in the article Correspondent author: Mogens Lund, Danish Research Institute of Food Economics, Rolighedsvej 25, 1958 Frederiksberg (Copenhagen), Denmark. Email: mogens@foi.dk JEL Classification codes: Q12 & Q16 Keywords: Strategic management, farm firms, strategy formulation, strategy implementation, action research, strategic consultancy, learning 1. Introduction In the recent decades we have been working with the development and implementation of strategic planning in Danish agricultural research and consultancy. In this article we will evaluate the obtained experiences and draw some important lessons. The content of the article focus on the questions: • • • • What is the aim of strategic management in agriculture How to develop the vision and long-term strategy on business farms How to implement the formulated business strategy How can research assists in the development and implementation of strategic planning • How can the...
Words: 8354 - Pages: 34
...scanning should be done systematically and regularly. It should address all possible influences on the organization or any of its component parts. Te be an effective strategic planner, one must be a very well informed citizen of the world. I needed to develop a through understanding of the customers and have as much information on them as was available. By choosing the U.S. Specialty, this gave me a better statistically significant handle on the consumer than the other choices. This was a more expensive choice but was worth it. Another option was the U.S. Bicycle Retailing Industry Analysis report because this report was a good choice and is a very good comprehensive report that packs in a lot of information about the industry and enough information to move ahead. (Thinking Strategically, 2007) Concepts and Analytic Tools Long-term strategic planning is giving way to flexible approaches. But agile planning requires powerful analytic tools. Strategic planning meant a fairly rigid commitment for a set number of years. The turbulent business environment demands that corporate leaders make frequent strategic adjustments. The company must be prepared to abandon their current course and launch off on a different path every time the market shifts or a new opportunity emerges. A flexible framework for strategic planning can help the company meet these needs. But what does such a strategy look like? How do executives...
Words: 1733 - Pages: 7
...STRATEGIC MANAGEMENT AND OPERATIONAL GUIDELINES A User Guide for Public Sector Auditors in the Pacific Developed by PASAI in 2012 Pacific Association of Supreme Audit Institutions (PASAI): Strategic Management and Operational Guidelines Pacific Association of Supreme Audit Institutions (PASAI) 2 Pacific Association of Supreme Audit Institutions (PASAI): Strategic Management and Operational Guidelines Foreword The purpose of these guidelines is to provide assistance for Pacific Association of Supreme Audit Institutions (PASAI) members, especially heads of SAIs and managers to carry out their functions strategically, tactically and operationally. They do this by introducing the basics of planning, examining the types of objectives and differentiating the types of plans consisting of the corporate plan, strategic plan, business plan and operational plan for the management of their offices. PASAI recognises the importance of having these strategic management plans as it is top level management’s responsibility to define the SAI’s positions, formulate strategies and guide long term organisational activities. This is one of PASAI’s initiatives aimed at developing SAIs within the region. The guidelines have been produced to assist PASAI members in the effective, efficient and economic planning and management of their resources annually and in the long term. It provides guidance to SAIs in establishing and enhancing their strategic management functions. The guidelines...
Words: 44943 - Pages: 180
...gaming company which provides leverage as CanGo venture into the competitive online gaming industry, and a successful IPO launch. In this climate of continuous growth it now become critically important for CanGO to reassess and take a creative and comprehensive look at their strategic plan which is vital for any long-term business success. Strategic planning requires an awareness and contribution by all members of CanGo. Every challenge, problem, or action requires an assessment from the perceptive of the broader context. This framework will provide improved decision-making and ensure that goals and objectives are cohesive, integrated, and are aligned throughout CanGo’s employee infrastructure. The significance of thinking strategically promotes the process of developing and evaluating every decision and action that concedes with current and future endeavors, the direction you want to go in, and the results you want to achieve. CanGo has a several short and long term initiatives, sustain and strengthening their online gaming division, automating their storage and retrieval system, transition from private to public company with the launch of their IPO, and product diversification. Implementing a strategic plan will provide focus and direction as it relates to short and long term objectives. The process will enable CanGo to analyze the impact each decision has an on the other. CanGo will have to make decisions which have a short term impact, such as maintaining profits and stock...
Words: 1650 - Pages: 7
...Strategic Initiative FIN/370 Finance for Business Strategic Initiative Microsoft like many other organization have developed a very strong systemic approach in order to achieve success. This systemic approach incorporates strategic planning with financial planning so that goals associated with these types of planning can help to strengthen operations, control the net value of the organization to stay in line with meeting profit goals, setting priorities to meet expectations, and ensuring that employees from the CEO downwards including the stakeholders are all working towards to help the company meet both their long-term financial obligations as well as short-term financial obligations. In this paper we will be describe how the relationship between strategic and financial planning can help Microsoft meet business needs while focusing on the needs of their customer wants. STRATEGIC PLANNING INITIATIVES AFFECTING FINANCIAL PLANNING There are several things that Microsoft must do in order to stay afloat and grow within itself. When it comes to the market price Microsoft does have to lower their prices this is mainly because their our other competitors that have come out with similar product and order to beat them and draw more business they need to lower the process. Besides the market price there are other things that can cause a decrease such as sales, volunteer’s price reduction, operating cost, advertisement, sales incentives. Also with the decrease it can cause lower...
Words: 1584 - Pages: 7
...Final Research Report - 7051-141-1 Colin Brand Page 1 of 240 EXPLORATORY STUDY ON HOW THE CEO FACILITATES THE STRATEGIC MANAGEMENT PROCESS WITHIN SMALL/MEDIUM SIZED COMPANIES ON THE JOHANNESBURG STOCK EXCHANGE (R10 – 80 MIL TURNOVER) A Research Report presented to the GRADUATE SCHOOL OF BUSINESS LEADERSHIP UNIVERSITY OF SOUTH AFRICA FINAL RESEARCH REPORT In partial fulfilment of the requirements for the MASTERS DEGREE IN BUSINESS LEADERSHIP UNIVERSITY OF SOUTH AFRICA BY COLIN GEORGE BRAND “A true leader has the confidence to stand alone, the courage to make tough decisions and the compassion to listen to the needs of others. He does not set out to be a leader, but becomes one by the equality of the integrity of his intent” (Douglas McArthur) Final Research Report - 7051-141-1 Colin Brand Page 2 of 240 ACKNOWLEDGEMENT PAGE This report is dedicated to the following exceptional people in my life, without whom, this would not have been possible. Special mention is to be made of Lindsay, my wife, for all her support. • Lindsay, Tamara, and Kyndra-Lee for their support and tolerance during a long and trying time. My sincere thanks and appreciation is extended to: • Professor Makin for her guidance. • Dr Sidney Shipham for his guidance. • The CEO’s, for affording me the opportunity to survey their environment as well as the Functional Managers, Supervisors and other members of companies who assisted by taking the time to complete the survey. • Professor...
Words: 58901 - Pages: 236
... In the business world planning is a key factor to the success of any endeavor. The two key ways to plan is to strategically plan and financial plan. For most companies it is understood that if a plan is not put in place at least 6 months to a year out, then it stands a chance to fail with in the first two to five years. In this paper it will be discussed about the difference between strategic and financial planning, the strategic planning initiative for the organization of Hewlett Packard’s annual report, the initiative affects for H.P.’s financial planning in terms of cost and sales. Lastly, the risks associated with the initiative and the effects they may have. The difference between strategic planning and financial planning Strategic planning is the reason the business runs. Once the business understands its reason, then it can figure out the how, the requirements to get there which includes the placement of the financial resources, human resource needs, and investments. Financial planning is the allocation of all the resources (money, employees and equipment). Over time this is all done to meet the goal set in strategic planning. A strategic planning initiative for Hewlett Packard According to the Hewlett Packard 2011 Annual Report, it was a tough year for the company in regards to strategic planning. The company seemed to lose focus and was not as transparent as it should have been to its stakeholders...
Words: 1074 - Pages: 5
...BTEC Business Strategy Unit : 7 Task : 1 LO : 1 1.1 Strategic context and terminology Strategic planning is important for any organization. A clear understanding of the process of strategic planning is crucial for successful implementation of the same. This chapter focuses on mission, vision, objectives, goals and core competencies of TNT, issues involved in strategic planning and also different planning techniques. Mission statement: A mission statement is a role, or purpose, by which an organization intends to serve its stakeholders. It describes what the organization does (current capabilities), who it to serve (stakeholders), and what makes the organization unique (justification for existence). Mission statements always exist at the top level of an organization, but may also be set for different organizational levels or components. A mission statement is simply an organization's reason for existing. Vision Statement: Vision statement identifies where the organization intends to be in the future or where it should be to best meet the needs of stakeholders. Incorporates a shared understanding of the nature and purpose of the organization and uses this understanding to move the organization toward a greater purpose. Objectives: After developing mission statement, objectives are required to define. Objectives are much specific than mission statement For example- I want to finish my assignment by 10 o’clock this morning. This indicates to perform a number of tasks...
Words: 3699 - Pages: 15
...Contents Introduction 3 Definitions 4 Strategic Planning 4 Environmental Scanning 4 Environmental Scanning in the Business World 5 Four Scanning Strategies 5 Perceived Uncertainty 5 Competitive Intelligence 6 Environmental Scanning in the Academic World 7 Why Scan? 7 Learning Organizations 7 Scanning as a Four-Step Process 8 Trends to Scan 9 Environmental Scanning at the University of Missouri System 9 Environmental Scanning at Ole Miss 10 Environmental Scanning at the Center for Information Technology, Bellevue University 11 General Attitudes Toward Scanning 11 Sources Being Scanned 11 Interview with Director Creagan 12 Conclusions and Recommendations 14 Conclusions 14 Recommendations 15 Bibliography 16 Introduction Environmental scanning is a tool used by strategic planners in the business and academic worlds. However, these terms often meet with a blank stare when presented to people outside of senior management. What is strategic planning? What is environmental scanning? How do businesses and universities use these tools? Is environmental scanning a tool that can be used more effectively at universities? These questions will be investigated, with specific attention on the role of environmental scanning at the Center for Information Technology at Bellevue University. First, this paper will provide background information about strategic planning and the role of environmental scanning. Second...
Words: 3484 - Pages: 14
...Further, the company would need to determine what would be the various levels of support it would provide to its customers. For example, would the company take its equipment directly to the consumers for demonstrations and lessons on how to gain the optimal results with the equipment? All of these types of decisions would be the result of the organization developing a strategy for how it will conduct its business. All of this translates into Strategic Management with the intended result of gaining a competitive advantage in a business niche. Very simply, developing a Strategic Management Plan means having defined what is the best set of results the organization can attain or what the organization wishes to accomplish (from the Vision and Mission Statements), developing the ways to accomplish these results (Strategies), and measurable factors (Goals and Objectives). All of this is in context of good business practices (ethics) and making good business decisions. A vibrant organization knows that Strategic Management requires: * Planning by completing the...
Words: 6210 - Pages: 25
...developing effective strategy which will be helping the achievement of the company’s goals. Humankind has practiced in many and different planning strategies during its existence. Apparently some of them have been more successful than others. However, the most common techniques that are used and proved to be effective are known as strategic planning and tactical planning. In my opinion the planning in our days is with tremendous importance for companies’ well-functioning. Many factors will play role in companies’ functioning. Some are preventable and predictable, while others are quite surprising. However, having a plan of action can be in great benefit. The negative impact always can be minimized by having proper plan, or if we anticipate positive circumstances to happen the benefits we can obtain will be even greater. From historical point of view it is proven that strategic planning is more appropriate for accomplishing long term goals. Basically strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, and ensure that employees and other stakeholders are working toward common goals. During this process the management is in charge of assessing and adjusting the direction of the organization in case the course is not the desired one. For the strategic planning also can be told that is targeted effort in reaction of which are produced essential actions and decisions. Usually these decisions and...
Words: 1226 - Pages: 5
...managers and professionals in determining the analysis of current and past activities, and aids them to predict future events in the organization or business. This leaves room and time for strategic planning processes in the organization. Business Intelligence Systems mostly carries the weight of strategic and well analyzed decision making. This is a system that any business organization should take into consideration, due to the fact that it promotes the opportunity for organizations to acquire, extract, and analyze data for beneficial information. Business Intelligence Systems gives organization managers and professionals the ability to acquire and determine solutions to a vast amount of future organization scenarios and complications. This aids in the rendering of the best possible result or outcome so that upper management in an organization can take action. Utilizing Business Intelligence Systems is the best way for higher management in organizations to make or determine accurate decisions for their organizations; the ability for upper management to use this system leads any organization to success. Most organizations tend to capitalize due to the benefits brought by utilizing the Business Intelligence System. Any organization can benefit from a system that generates useful or relevant reports, and graphs for upper management to utilize and make sense of in order to analyze that business or organizations trends. Business Intelligence Systems involves the use of Business Intelligence...
Words: 716 - Pages: 3
