...learners with understanding and skills to assess the need for strategic change in organizations and how to empower them to take engagement actively in the process of strategic change management. Scenario It is the realities of today, change is imperative for a healthy and sustainable success of today’s organizations. To this end, every organization undergoes a change process so as to compete with the changing market circumstances. You are required to identify the need for change in any department or area in your chosen organization and you have to state why there is a need for change and how will you plan and implement it effectively. Task 1 Understand the background to organisational strategic change 1.1 Discuss models of strategic change and their differences (AC 1.1). 1.2 Evaluate the relevance of models of strategic change to your chosen organisations in the current Economy (as of the current situation which is the best suitable model) (AC 1.2). 1.3 Assess the value of using strategic intervention techniques in your chosen organisations (AC 1.3). Task 2 Understanding the issues related to strategic change in an organisation 2.1 Examine the need for strategic change in the chosen organisation (explain where or which part of the organization you intend to bring change) (A.C 2.1). 2.2 Assess the factors that are driving the need for strategic change in your chosen organisation. (A.C 2.2) 2.3 Assess the...
Words: 1683 - Pages: 7
...B2GLOBAL PROGRAMME BTEC LEVEL 5 HND DIPLOMA IN BUSINESS UNIT SYLLABUS |Assignment Due: | |. Assignment 1: Slot 10 | |. Assignment 2: Slot 38 | |The student must pass these Assignments to pass the course | |Unit Title: |Business Strategy | |Unit Code |A/601/0796 | |QCF level |5 | |Credit value |15 credits | |Pre-requisite | | |Instructor | ...
Words: 1993 - Pages: 8
...gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades | Grade Descriptor | Indicative characteristics | Contextualisation | M1 Identify and apply strategies to find appropriate solutions, by using complex problems with more than one variable have been explored | Effective judgements have been made.An effective approach to study and research have been applied | M1: To achieve M1 you need to identify some of the types of benchmarking strategies used by organisations and analyse at least four of the stages used in Benchmarking, state some of the advantages of using the technique OR Identify and analyse the 7 elements in McKinsey’s model (Task1) | M2 Select/design and apply appropriate methods/techniques, by using a range of sources of information | Appropriate learning methods/techniques have been applied | M2: To achieve M2 you need to compare, strategies and demonstrate how they (PESTEL and Porter’s Five Forces ) influence your chosen organisation or as (Task2) | M3 Present and communicate appropriate findings by using an appropriate structure and approach | Coherent, logical development of principle/concepts for the intended audience. | M3: To achieve M3 Present or communicate your choice or chosen strategy using any structured method or approach. (Task 2) | D1 Use critical reflection to evaluate own work and justify valid conclusion | Conclusions have been arrived at through synthesis of ideas and have...
Words: 4266 - Pages: 18
...meeting would be 1) the organizations current strategy and future strategy given their want to expand nationally and globally - I’d need to understand the organizations current strategy and future strategy so I could tailor my presentation because no two organizations are the same and the process to implement PPM within the organization would be very dependent on the originations strategy. (Levine, 2005) 2) A breakdown of how the organization is setup and how teams operate within the organization - I’d want to know how the organization is setup and how teams operate so I could get the CEO and board of directors an idea of what it would take to implement PPM within their organization. 3) A breakdown of the current projects in the portfolio – I’d want to know what their current portfolio consists of so I could align it against their current and projected strategy and show which projects make sense to the organization and which don’t. 4) A breakdown of past projects which were successful and a breakdown of the projects that were not– I’d want a breakdown of project success and project failure so I could us PPM to break down how each project might have been more successful and how each failure might have been a success or why it wouldn’t have been allowed to be selected in the first place. 5) A breakdown of the criteria for how projects are chosen for their current portfolio – I’d want these criteria if any because it is very telling of how the organization is run. Is there an office...
Words: 1134 - Pages: 5
... Introduction …………………………………………………………………………… 03 LO1. Understand the background to organizational strategic change 1.1 Discuss a minimum of three established models of strategic change, highlighting the differences in approach. 1.2 Evaluate the relevance of models of strategic change, and using examples from organizations, Explain why the models for change are appropriate in their selected examples. 1.3 Assess the value of using strategic intervention techniques that are used in organizations. LO2. Understand issues relating to strategic change in an organization 2.1 Examine the need for strategic change in an organization. 2.2 Show an understanding of the forces that are impacting on an organization and driving the need for Change. 2.3 Assess the resource implications of the organization not responding to strategic change. It is Expected that learners will assess the relevant financial, human and physical resources. LO3. Be able to lead stakeholders in developing a strategy for change 3.1 Develop systems to involve stakeholders in the planning of change. The systems need to be Appropriate and workable in the selected organization. 3.2 Show an understanding of the different strategies that are available in the process of change Management. 3.3 Make judgments on the effectiveness of the systems used to involve stakeholders in the Development of a change strategy. 3.4 Create a strategy for managing resistance to change that is appropriate in your...
Words: 3050 - Pages: 13
...IKEA Task 1 Boru Zhao Examine approaches to strategy evaluation and selection P7 Analyse possible alternative strategies relating to substantive growth, limited growth, Market entry strategies, and disinvestment strategies IKEA has marketed its products well and has dealt with all the problems easily. But there have been some constraints that came in the way of IKEA and alternative strategies have to be developed for them. These strategies are as follows: Substantive growth: In any business strategy growth is the most important factor. To achieve substantive growth the firm needs to go through a lot of planning. Some of the key advantages of substantive growth are: • Exponential Growth: Once IKEA achieves substantive growth in their business then they can be confident that it will lead to more growth in the future. There is a tendency of the growth of wealth at an exponential rate and the company can use these funds for other project to generate gains in future. While an organization achieves substantial growth the main benefit is that it helps in investing them for future benefits and achieving potential wealth gains. This is always a welcome consideration. • Competition: Substantive growth of IKEA will help them to understand the strength of the competition and developing the business strategy accordingly. The faster a company achieves substantive growth the easier it is for them to beat the competition. The added wealth...
Words: 2012 - Pages: 9
...Organisational purposes of chosen organisation 4 1.1. Identify the types of organisation you have chosen and its main purposes 4 1.2. Describe the extent to which an organisation meets the objectives of its different stakeholders 4 1.3. Explain the responsibilities of an organisation and strategies employed to meet them 5 Task 2. The nature of the national environment in which your chosen business operates 6 2.1. Explain how economic systems attempt to allocate resources effectively 6 2.2. Assess the impact of fiscal and monetary policy on business organisations and their activities 7 2.3. Evaluate the impact of competition policy and other regulatory mechanism on the activities of a selected organisation 7 Task 3. The behaviour of your chosen organisation in its market environment 8 3.1. Explain how market structures determine the pricing and output decisions of the business 8 3.2. Illustrate the way in which market forces shape organisational responses using a range of examples 8 3.3. Judge how the business and cultural environments shape the behaviour of a selected organisation 9 Task 4. The significance of the global factors that shape business activities of your chosen organisation 10 4.1. Discuss the significance of international trade for your organisation 10 4.2. Analysis the impact of global factors on your chosen organisation 10 4.3. Evaluate the impact of European Union policies on your business organisation 11 Part B 12 Task 5. Report 12 a). how the downturn in...
Words: 3922 - Pages: 16
...Business Strategies 14.1 Introduction business strategy describes how a particular business intends to succeed in its chosen market place against its competitors. It therefore represents the best attempt that the management can make at defining and securing the future of that business. A business strategy should provide clear answers to the questions: A s s s s What is the scope of the business (or offering) to which this strategy applies? What are the current and future needs of customers and potential customers of this business? What are the distinctive capabilities or unique competence that will give us competitive advantage in meeting these needs now and in the future? What in broad terms needs to be done to secure the future of our business? These questions should have been addressed during the process of strategy formulation. The processes and techniques and processes described in Part III may have contributed to answering them. In this chapter, we are concerned with some of the practical issues that arise when thinking and analysis leads into action and commitment. We are concerned also with what makes the difference between good and indifferent business strategies. We suggest that a good business strategy will meet six tests of quality: s s s s s s It will be correctly scoped. It will be appropriately documented. It will address real customer needs. It will exploit genuine competencies. It will contribute to competitive advantage...
Words: 1859 - Pages: 8
...CrosliteTM material 3 2.2 Identification of Weaknesses 3 2.2.1 Expansion is a dilemma 3 2.2.2 Seasonal usage 3 2.3 Identification of Opportunities 4 2.3.1 Further exploration of the Asian market 4 2.3.2 Online sales 4 2.4 Identification of Threats 4 2.4.1 Replicas and imitation 4 2.4.2 Anti- Crocs Sentiment 5 3.0 Evaluation of Alternative Strategies 6 3.1 Proposed Alternative Strategies 6 3.1.1 Pursue diversification 6 3.1.2 Pursue vertical integration 7 3.2 Selection of Best Strategy 9 4.0 Implementation of Selected Strategy 10 4.1 Controlling Function 10 4.1.1 To implement feedforward control 10 4.1.2 To implement concurrent control 10 4.1.2 To implement feedback control 10 4.2 Organising Function 11 4.2.1 To introduce departmentalization 11 4.2.2 To execute formalisation 12 4.2.3 To implement decentralization 12 5.0 Conclusion 13 6.0 Reference List ii Executive Summary The purpose of his report is to conduct a SWOT analysis about Crocs Inc. and to propose two strategic analyses. Then we had to choose the best strategy and find solutions to implement the strategy. Crocs, Inc. is a footwear manufacturing company developing casual footwear for men women and children. It was founded in 2002 by Michael Hagos, Lyndon “Duke” Hanson, and George Boedecker,...
Words: 4855 - Pages: 20
...Business Strategy Introduction: LO1: Understand the processes of strategic planning LO2: Be able to formulate a new strategy LO3: Understand approaches to strategy evaluation and selection LO4: Understand how to implement a chosen strategy Reference: Introduction: In today’s highly competitive world strategic planning is essential for organizational success. Strategic planning is a process undertaken by an organization to develop a plan for achievement of its overall long-term organizational goals. Strategic Planning helps management understand the current situation. This in turn allows management to plan for the future. In a world of rapid change, it is becoming imperative for management to think strategically (plan for the future). And since the rate of change seems to be escalating, the importance of strategic planning continues to grow. In fact, the best-managed companies tend to engage in continuous strategic planning. Some organizations have intuitive thinkers who almost seem to see into the future. Therefore, strategic planning is a way of preparing for the future by attempting to simulate the future. LO1: Understand the processes of strategic planning. 1.1 “Strategic planning is the process by which members of an organization envision its future and develop the necessary procedures and operations to achieve that future.” [Pfeiffer, Goodstein, Nolan, 1986] and [Rothwell, 1989] Strategic planning is also “a process...
Words: 2602 - Pages: 11
...what each model is about. Don’t discuss on the models. Just implement them for the company/ industry/ market you have selected, always trying to adopt the correct perspective for each one of them. THE REPORT SHOULD FOLLOW: Executive Summary: The last to write. In ten lines, summarize everything you have done in your coursework. Imagine that I am your manager and I don’t have time to read your report. In these 10 lines you have to make me understand what you have done in total. Introduction: Write a few lines about the company. What the company is about? What is the company’s size and area of activity? What is the vision/ mission/ main strategic goals of the company? In which industry(-ies) it belongs? Which market(s) it targets? Corporate Strategy is the Strategy shaped for the company as a whole. However, I am giving you the opportunity to choose just one market and/or one industry to analyse. For example, if you had to analyse ‘Samsung’, you could create a strategic review for Samsung as a globalized company (all industries and markets included) or you can just choose to analyse the industry of ‘smart phones’ in the US market. In any case, it would have been good for your report to state in your introduction what will be the industry and the market you will analyse and keep the same scope for all models after this point. Analysis of External Environment: This part should include: PESTEL Analysis: How factors of the...
Words: 1098 - Pages: 5
...strategic plan, because they help an organization to determine their direction. In order to determine the direction, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Strategic planning is effective in plotting a company's long-term and short-term directions. It is the cornerstone for an organization to survive during turbulent business times. Their strategy is a roadmap or the path chosen to move towards the end vision. The most important part of implementing the strategy is ensuring the company is going in the right direction which is towards the end vision. All strategic planning must answer at least one of three key questions: 1. "What do we do?" 2. "For whom do we do it?" 3. "How do we excel?" This starts with a shared mission. The key concepts within strategic planning include an understanding of the organization’s vision, mission, values and strategies. An advantage of having a statement is that it creates value for those who get exposed to the statement, such as prospective customers, managers, employees. Statements create a sense of direction and opportunity. They are an essential part of the strategy-making process. Vision defines the way an organization or enterprise will look in the future. Vision is a long-term view, sometimes describing how the organization would like the world to be in which it operates. Mission: Defines the fundamental purpose of an organization’s enterprise...
Words: 633 - Pages: 3
...c BUSINESS ENVIRONMENT SHAPING YOUR FUTURE A VOCATIONAL SCENARIO SUMMARY This report shows an understanding of the organisational strategic purpose and different processes of strategic planning, how to formulate a strategy and understand approaches to the evaluation process and the selection and finally how to implement that chosen strategy. CONTENTS Page no. Summary 2 Contents 3 1 Task 1 4 1.1 Mission, Vision, Objectives, Goals and Competencies……………… 4-5 1.2 Key factors when designing strategic plans for SAS…………………. 5 1.3 Two different planning techniques for SAS……………. . … ……. 5-7 M1 McKinsey’s model (7s) …… 8-9 Task 1- Understand the process of strategic planning 1.1 All organisations must have a strategic plan that can then enable the business to be developed. The main elements that should be focused on can be shown in the diagram below (Knowledgenet.carmichaelcentre.ie, 2015) Mission: A mission explains in a clear precise manner of what the organisation purpose and principle line of business is. Below I have applied this to my Business SAS:- What do we stand for? – SAS – Sharp Accounting Solutions – Ensuring integrity by making sure that the trust and responsibilities placed with me by clients is the driving force behind my business. Visions: Visions set out the strategic future of an organization and can take many forms and can change with growth they are ongoing...
Words: 1407 - Pages: 6
... | | | | | |Learning Outcomes |Assessment Criteria (AC) |Assessor Feedback | |LO 1 |TASK | | |Understand the importance of |Evaluate current creative and innovative | | |creative and innovative management |management processes in an organization | | |in organizations | | | | |Explain how to lead others to positively | | | |embrace innovation and change | | |LO 2 | | | |Be able to support creative and |2.1 Assess the influence of vision and mission | ...
Words: 7491 - Pages: 30
...Strategy: Create and Implement the best strategy for your business Written by Harvard Business School Press In Strategy: Create and Implement the best strategy for your business it breaks down strategy formulation process, which should not confused business model. Strategy is described as a plan that aims to give the organization a competitive advantage over rivals through differentiation, its about understanding what you do, what you want to become and focus on how you plan to get there. While having a well thought out strategy is a step in the right direction, you must properly execute it. Strategy cannot come into fruition unless there is proper implementation and continual reassessment to stay competitive or become competitive in the market. Implementation unlike strategy, which is market-oriented, has its roots in operations. This requires continuous managerial devotion at all levels. The steps described in the text is a guide to lay the groundwork for organizational strategic success in the market they are competing in. Chapters (Chapter 1-4) strategy formulation. Strategy formulation begins with the existence of organizational goal and setting a vision. Strategy analysis begins by formulating a SWOT analysis), this analysis allows companies to make strategic choices by looking at your organization internal (Strength/Weaknesses) and external (Opportunities/Threats) and. Internal analysis focuses on organizations strength and weakness, this consists of (core...
Words: 1418 - Pages: 6
