Strategy Formulation Processes and Stakeholder Meetings - Assessment Task

Learning Outcomes

a) Critically evaluate different strategy formulation processes utilised by organisations and evaluate their relevance to particular organisational contexts

b) Develop and plan the implementation of a selected strategy for different organisational levels including for change management processes

Context:
The assessment of this subject supports students in developing their skills and knowledge in topics that include environmental assessment, problem diagnosis, strategy development, and cultural and ethical contexts. Stakeholder meetings are a critical element in strategic management. This assessment task provides experience and immersive understanding of the complex interactions involved in the development of strategic choices, and the need to take an integrative approach to problem solving.

Instructions
Please Note: Part A is a Hurdle Assessment and must be submitted.
You are required to perform a simulated stakeholder meeting to discuss the scenario below.
Students will be assigned a role to play in the simulated stakeholder meeting. Roles will be assigned to ensure each group has one of each of the stakeholders.

To do this assessment, it is necessary for you to know the responsibilities and interests of the stakeholder that you are assigned to be. To assist you with this knowledge, each stakeholder’s general scope of responsibilities is described below. It is suggested that you take some time to research more about each stakeholder’s responsibilities so that you can contribute effectively to the meetings and write your white paper.

The white paper is to be completed individually by each member of the team reflecting the impact of the proposed strategy on their particular part of the business and should be completed to the professional standard that would be required if the scenario were real.

Please Note: You will be placed in your group in Module 1, week 1 by your facilitator and are expected to conduct at least one (1) stakeholders meeting per week. Times and location are to be arranged by the group.

Stakeholders description and interests
a) General Manager (GM) of the company
The GM has the final accountability to the CEO. The GM takes responsibility of the of the company’s successes and failures of the company. The GM brings together the different functions in the company (HR, Finance, Operations, etc.) and the interests of all the stakeholders. A key issue for the GM is to maximise shareholder value and the long-term sustainability of the company.

b) General Manager of key supplier
Obviously, the GM of the supplier has the same responsibilities in his company as the GM of the case company below. The supplier is in the business of supplying goods and services which the case company requires. The successes and failures of the supplier company are linked to the successes and failures of the case company.

Context

c) Union official
General responsibility of the Union official is to represent the interest of workers. It also includes conflict resolution between the employer and the workers and bargaining of behalf of workers. It goes without saying that the workers would want the company to be financially sustainable while they receive appropriate remuneration.

d) Operations manager (OM)
The general responsibilities of the OM are to ensure that productions of goods and services is running efficiently. Therefore, the role includes both planning and implementing production/manufacturing schedules including material and energy inputs among other things. The OM understands the feasibility of attaining certain production levels and quality of products/services.

e) Senior finance manager (SFM)
The general responsibilities of the finance manager are to ensure that the company is financially sound. Therefore, the finance manager plans the long and short-term allocation of resources as well as produce financial reports. For example, the SFM would be interested in issues such as risk, capital availability, likely timing and amount of returns, etc.

Pro-Go Pty Ltd Scenario
The scenario provides you with a brief overview of a hypothetical project for a real-life organisation. Be aware that the scenario may not cover every detail that you will need to address in the White Paper, in which case, you will need to conduct additional research, including further research into the industry concerned.

[Pro-Go Pty Ltd is a privately-owned manufacturer of small, high-quality action cameras based in Geelong, Victoria. Founded in 2004 it has enjoyed continuous year-on-year growth until the last financial year. Pro-Go has a track record of innovation, and technology that provides excellent quality results in a small package able to operate with small batteries for extended periods of time. The video files these cameras produce are known for having superior colour, and operate effectively in lower lighting conditions than competitor’s cameras. They are also marketed on the basis of their extreme ruggedness, and reliability. Much of the technology used in its devices has been patented by Pro-Go and is not currently available to other manufacturers.

The Pro-Go management team has recognised that the ability to capture videos is now a feature of most phones. It suggests to them that the future of the stand-alone camera may be limited. Pro-Go’s CEO has requested the executive team meet independently to develop a strategy to guide the company over the next five years.]

Deliverables
The Stakeholder meeting will discuss and agree on three strategy options for Pro-Go. In doing so, the Stakeholder meeting may consider strategy options that exist in adjacent markets or with related but different products or technologies.

Instructions

The deliverables required of each student are:
1. Nominate the preferred strategy option and state why you believe it to be so; and
2. Discuss the implications specifically relating to your part of the business, and what challenges these might represent. Separate the discussion into short-term and long-term issues.

Students are to address the assessment task from the perspective of their own functional area of
responsibility. Integrate theory in your white paper.

Students will be assessed on the overall quality of their White Paper and their ability to comprehensively address all the areas that should be contained in such a document. Please ensure you are familiar with the marking criteria in the attached rubric before you commence planning your submission.

Students should use the brief to guide what to include in the assessment and the rubric below to inform the standard required.

Suggested format
Your 500 word, individual, Preliminary Outline of your White paper should be structured as follows:

• Executive Summary - Summarise the entire report - i.e., don’t tell the reader that the report discusses the external environment, summarise the points the report makes about the internal environment.

• Introduction - Provide background and context to the report. Tell the reader what has happened in the past that has led to this report being needed.

• Aim - State in a single sentence what this report is seeking to achieve.

• Discussion - Cover the key themes you wish to address.

Remember, you are providing an outline only. Adhere to the word limit and be thoughtful in your response. The first attempt at an outline is rarely comprehensive or correct. Please recognise that this will likely need to be revised through a number of iterations to arrive at an outline that is of impact.

Teamwork Log
Students should also keep a log of how they have worked together as a team in the delivery of this project. This includes meeting dates and times, meeting minutes/notes, a detailed description of how tasks were allocated and completed (and by whom), copies of emails and/or written discussion regarding the project, and any other evidence of teamwork that students would like to include. All students involved in the project need to check the log before submission. It is assumed that the final submission has been agreed between students as being an accurate record of the work that has taken place for the project.

The Teamwork log needs to be submitted with the assessment but is not a part of the overall word count.

Submission Instructions:
Assessment 2 Part A Preliminary White Paper is to be written according to academic writing guidelines and must be submitted in compliance with the following;

1. You should make significant references to the subject material and substantial wider reading. A minimum of five (5) academic (books & peer-reviewed journal articles) & two (2) other sources (newspaper article, trade publications, websites, etc.) must be used. These should be referenced in the APA style, both in-text and in a reference list. References to ‘Wikipedia’ or similar unsubstantiated sources will not be accepted. The assignment is to include in-text citations and a reference list following the latest APA referencing style.

2. Students will also need to participate in the stakeholder meeting. Some class time (for class-based students) will be allocated to this discussion. Online students will need to participate in pre-organised forums/sessions. In addition, a summary of notes and ideas discussed during group work sessions needs to be attached to your submission as an appendix - see ‘Teamwork Log’ above (but will not form part of your final word count).

3. Submit Assessment 2 Part A: Preliminary Submission (with references) via the Assessment link in the main navigation menu in MGT604 Strategic Management on the Student Portal.