- a) Describe and evaluate the objectives, aims and the primary aspects of a strategic plan whilst taking into account the vision and mission of the organisation.
- b) Discuss and evaluate the processes and forces that influence the strategic decision-making process in relation to business strategy.
- c) Explain the significance of strategy as a means of identifying and realising opportunities for growth.
- d) Analyse the managerial, planning and procedural tasks associated with implementing and executing organisational strategies and identify the key risks associated with this process.
- e) Prepare and justify a strategic plan.
- f) Demonstrate an ability to think strategically about an organisation, its position in the marketplace and how it cangain a sustainable competitive advantage.
You are to assume the role of the CEO of your selected organisation and write the transcript as if you were verbally presenting this in front of your employees.
You do not actually have to present your infographic in class. However, you are to write a 1250-word transcript using the style, tone and language that you would use, if you were verbally presenting it.
The aim of the written transcript is to bring the content of your infographic to life. This means that you should explain the strategic management process you went through and the logic for the organisation’s strategy.
Your presentation transcript should contain the following:
o A welcome to your employees and an introduction of who you are.
o A summary of the process you have gone through to produce the organisation’s strategy.
You do not need to reference the transcript. Instead, you need to write it in a style that
Name of the company
Strategic management is crucial in any business. A plan provides guidelines for achieving specific goals of a particular subject. Therefore, enterprises require well developed strategic plans to aid in knowing how their firms are running and if there are working towards their mission and vision.
Slide 1: Name of the company.
Slide 2: This slide defines the company’s vision statement.
A vision statement illustrates the future-oriented testimony of an organization’s achievement and aspirations. It is said that the mission statement forms the basis of an institute’s vision “where it wants to be in the future.” A company’s strategy plan should start from the idea since its purpose is to accomplish the concept and consequently fulfil the organization’s mission. An institute’s objectives should be SMART; specific, measurable, achievable, realistic and time-bound.
Slide 3: Illustrates Haigh’s Company’s goals and objectives
Goals and objectives steer a company or institution towards its vision. Lack of goals and objectives leads to the slow development of a firm. An organization's goals are the precise, quantifiable results of the strategic plan. These objectives allow the institute to realise its purpose. Additionally, an organisation’s goals are the accurate, measurable results of the invention. The institute’s objectives provide details of how much of what will be achieved by a specified period.
Slide 4: Current State of Haigh’s Chocolate Company
Haigh’s company is one of the pioneer chocolate producing companies in Australia. The company was established in the year 1915 by Alfred Haigh. The company has been effectively run by Alfred’s son, grand-sons and great grand-sons. This family management approach allows the company to maintain its traditions. For example, the “bean to bar” technique used during the chocolate manufacturing process.
The company has 17 retail suppliers situated in Melbourne, Canberra, Adelaide, and Sydney and online. The company manufactures about 200 commodities and other products whose sales funds several charities. Though Haigh’s targets customers to seek exceptional quality chocolate, it is among the limited suppliers. According to the management, the company needs to widen its customer range to ensure more brand awareness.
The businesses’ value is to continue being caring and considerate to their staff, clients, distributors, and stakeholders. The company currently has approximately 300 employees. Haigh’s chocolate Company offers quality commodities and services throughout Australia. The firm manufactures chocolates and makes its deliveries or arrange for alternative transport to the wholesale shops.
Slide 5: The progress of the Company.
Haigh’s company being a family run business it is easy to maintain the company’s tradition. The well-known one being the “bean to bar” tradition. The regular management practices have played a significant role in the present state of the firm. The employees in collaboration with the administration has guaranteed the continued operational competence and reliability.
Slide 6: Available opportunities for the Company.
As a business grows, various opportunities come up. It is important to weigh different opportunities to see the one that befits the industry. These new opportunities pave the way for the development of a company or institute.
According to the current studies of Haigh’s Company, several approaches have been stated to be significant in its development. Some of the identified organization prospects included differentiating the chocolate’s loyalty brand and product quality, creating brand awareness, and improving the company’s proficiency. Strengthening the association with its distributors, cross training the employees, adapting new food technologies, and increasing the company’s client range are other potential opportunities.
Vision statement of the company
After identifying any opportunities that can positively influence an organization it is important to execute them. A strategy plan is one of the tools that can ensure effective implementation of new prospects for business. An excellent managerial team is crucial during the implementation and execution of a proposal. Involving clients as well as shareholders is vital. The responses and different approaches tabled are esential for an operative plan.
A strategy plan plays a significant role in an institute since it offers a sense of track and outlines determinate objectives. The program acts as a tool that is beneficial for managing daily choices and also for assessing the progress and altering approaches when moving onward.
A business’s strategy plan enables the organisation to meet its goals and vision. The idea provides the ground for assessing competing budgeting demands. The evaluation results help in knowing the changes to be made to achieve the set goals.
Also, the strategy enables the managers to be more vigilant about new opportunities, risk developments, and any up-coming changes. Creating a proactive surrounding, promoting the growth of new business models and unifying numerous strategy-connected choices and institute efforts are other strategy impacts.
Slide 7: Recommendations and Results.
For a particular proposal to be active, it calls for commendations to effect it. For Haigh’s Company to accomplish its goals and objectives, it has to set specific approaches. The company needs to increase the number of clients thus it needs to expand the brand and broaden the selected target market.
Haigh’s needs to increase its sales. Hence it has to execute a more comprehensive product range. Additionally, the business is in an entire need of new customers, expanding the store locations as well as introducing new customers would be essential. Lastly, the firm needs to accustom itself with the current novel technology and improve associations with suppliers. Thus, it has to develop new cooking technologies by introducing tempering machines, chocolate kits, and chocolate molds.
For the company to successfully maintain the production of high quality chocolate, it requires to improve efficiency and to strengthen the relationships with its suppliers. Cross training of employees will increase labor. Conducting cross training will enable Haigh’s to enjoy the use of less staff and savings will rise.
Operative marketing approaches will be essential. The company can venture into retail supply into big hotels or elite dining places to develop economies of sales. Using innovation, it would need to make its commodities by the current consumer’s preference. Low sugar, low fat plus high quality chocolate is commended, and the opening of Haigh’s branded café will offer a new experience to its clients.
By having proper cognizance of Haigh’s Chocolate brand and where to locate it, it will be difficult to get this type of products elsewhere. Therefore, the customers will not easily settle for another brand thus lowering their trading power.
Raising finances as a private firm is challenging. Haigh’s is a one commodity business, and this reduces its opportunities of getting their target market. Therefore, growing the product-range could widen their target customers thus increasing returns.
The product expansion could be done via related stuff like cookbooks, serving plates, and cutlery. Retail shops are currently available in New South Wales, Victoria, and South Australia. Therefore the brand is not familiar. By extending their supply locations in more countries and places in supermarkets, malls and markets in the outskirts of Australia can significantly enhance and develop the company and create greater brand awareness.
The company can also improve its marketing by developing new approaches. Haigh’s can use social media platforms like twitter, Facebook, to promote its brand. The company could also conduct exhibitions of their products at various places like malls, supermarkets, high and economy class hotels, and cafes. Employing these strategies would help significantly in getting their brand to the market.
The possible outcomes of employing the above listed recommendations include more revenue for the company, increased numbers of customers, and increased sales and customer interests. All these outcomes will be an aid in accomplishing the company’s vision.
Slide 8: same as the slide
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