In modern day business, organisational management planning process can be identified as one of the most evident success factors influencing the sustainability. Contemporary managers have utilised the management planning strategy to assess the goals and objectives of a firm. Based on the goal-setting, managers have set a realistic and detailed plan of action to accomplish the targets (McWilliams and Williams, 2013). Precisely, the organisational planning process involves short-term and long-run corporate strategies to develop a roadmap to meet the target.
In contemporary business dynamics, the strategic planning process has become a mandatory concept to set long-run business viability for any business. According to Denning (2014), during long-range organisational planning, the role and competencies of managers can be the defining factor. Modern organisational managers have analysed the business functions, existing operating environment, and competitive market status relevant to the business to adopt the best strategic management disciplines. On the other hand, Armistead, Pritchard and Machin (2009) have reviewed the process as well as the impact of strategic business process management on the sustainability of a firm. By adopting the right set of corporate strategy, managers can establish realistic goals and roadmap to attain the projections.
Meanwhile, Hitt, Ireland and Hoskisson (2017) have discussed the effective measures to be considered in strategic management planning. Through the identification of the available resources, managers have defined goal-related assignment to be completed. On the basis of the objective, modification in HRM techniques can be made. Invariably, Hall (2011) has stated that the strategic management is significant to outline the timeline suitable for associated management tasks.
During organisational planning, a five stage model of strategic management must be considered by the modern managers to adopt the right corporate strategies to accomplish the overall goals. Understandably, goal-setting can be identified as the first initiative to be taken into consideration (Stybel, 2012). Thereafter, the analysis must be done to formulate the best strategic interventions. According to the need, managers must enforce strategies to be implemented for the overall improvement of the human capital as well as business operations. At the end of the strategic management planning, monitoring and evaluation of the practices must be done to make effective alterations in the organisational planning process. For example, the management of every organisation such as Ferguson Plarre Bakehouse uses a planning process to plan and execute the strategies to achieve the desired targets. For example, the management of Ferguson Plarre Bakehouse set a particular goal of serving the people of Australia with fresh and high quality bakery products (Stybel, 2012). Secondly, the management analyses the internal and external market environment of the organisation by using different strategic management tools such as PESTEL, Porter’s Five Forces, SWOT, and VRIO framework by conduct market research (Pollack, 2015). Thirdly, the management of the firm develops action plan to target the desired goals. Fourthly, the managers execute the planned strategies by implementing the activities in the real life scenario. Finally, the management monitors and evaluates the daily activities to make changes in the strategy in order to seek sustainable growth of business (McWilliams and Williams, 2013).
On the basis of the above discussion, it can be seen that planning process is a significant function of the management. The management of Ferguson Plarre Bakehouse uses a systematic planning process in order to develop its strategic management plans. The company set goals by evaluating and understanding the market conditions. On the basis of the market evaluation report and goals set by the management, the action plans are developed to achieve the desired targets. Conclusively, a flexible planning process is required in the current business environment to cope up with the changing factors that influences the operations of the firm.
2: Provide a brief summary of Ferguson Plarre’s organisational history.
The history of Ferguson Plarre Bakehouse can be identified as one of the most interesting stories in the Australian bakery industry. Ferguson Plarre Bakehouse has been renowned as one of the oldest family business since the1800s. The family business of Ferguson Plarre was introduced in the Australian market in the way back 1901 in the suburban areas of Melbourne (Fergusonplarre.com.au, 2017). In 1980, the organisation was renamed to Ferguson Plarre Bakehouse. Currently, Ferguson Plarre Bakehouse has more than 50 outlets across Victoria, Australia. Notably, in 2012, the fourth generation of Plarre family acquired the entire business of Ferguson Plarre Bakehouse to restructure the business models and shop design. The bakery business of Ferguson Plarre Bakehouse has come a long way forward as the bakery franchising operations and retail business of the company have increased. Precisely, quality products, innovation in tastes, and well-organized service excellence have largely contributed to the growth of the business.
3: Describe Ferguson Plarre’s approach to goal setting.
Ferguson Plarre uses a systematic goal setting approach in order to develop its operations strategy. Firstly, the company sets a mission and vision purpose to happily serve the hunger of the Australian people. Furthermore, the management of Fergusion Plarre have separate sets of goal for the upcoming one year, three years, five years and ten years. According to Ferguson Plarre (2012), strategic actions are planned on a quarterly basis, monthly basis, weekly basis and daily basis to meet the targeted goals (Ferguson Plarre, 2012). Hence, it can be seen that Ferguson Plarre uses a systematic and flexible goal setting approach in order to develop its strategic action plan (Pollack, 2015). Finally, the company uses a well structured evaluation technique that is further used to make changes in the long term goals of the firm.
4: How does Ferguson Plarre track progress towards goal achievement?
Ferguson Plarre uses a well planned performance evaluation process to track the progress towards the goal achievements. The company employ lots of management officials and use different metrics to track the progress towards the goal achievement. Ferguson uses different benchmarks to evaluate the performance on a daily basis, weekly basis, monthly basis, quarterly basis as well as yearly basis. If the productivity is not achieves the benchmark, it is marked with a red line. On the other hand, if the targets are fulfilled, it is marked with a green line. Furthermore, the management of Ferguson Plarre uses specific sets of KPIs to evaluate the strategic performance of the firm (Ferguson Plarre, 2012). Conclusively, it can be seen that Ferguson Plarre uses a well planned strategic evaluation techniques in order to track the process towards the goal achievement that act as a key success factor for the 200 years old organisation.
References:
Armistead, C., Pritchard, J. and Machin, S. (2009). Strategic Business Process Management for Organisational Effectiveness. Long Range Planning, 32(1), pp.96-106.
Denning, B. (2014). Strategic management and organisational dynamics. Long Range Planning, 27(2), pp.131-133.
Ferguson Plarre (2012). Interview with Steve Plarre, Part 3: Planning. Cengage Learning Australia
Fergusonplarre.com.au. (2017). History. [online] Available at: https://www.fergusonplarre.com.au/about/history/ [Accessed Jun. 2017].
Hall, A. (2011). Strategic Planning Management. Long Range Planning, 14(5), p.108.
Hitt, M., Ireland, R. and Hoskisson, R. (2017). Strategic management. 1st ed. Boston, MA: Cengage Learning.
McWilliams, A. and Williams, C. (2013). MGMT 2. 2nd ed. Cengage Learning Australia.
Pollack, J. (2015). Understanding the divide between the theory and practice of organisational change. Organisational Project Management, 2(1), p.35.
Stybel, L. (2012). Linking Strategic Planning and Management Manpower Planning. California Management Review, 25(1), pp.48-56.
