Strategic Plan Analysis (Vision, mission and objectives part)

SECTION 1: Reflect, Describe, Solicit Feedback and Document Insights

Reflect on and describe the type of strategic leader you would like to be and the impact you desire to have in your current or future organization and among those in your circle of influence. During a one-on-one session with a mentor, supervisor, or someone you trust, share your strategic leader vision and solicit honest feedback about your effectiveness as a strategic leader and thinker. Document your reflection and identify who you met with for your one-on-one and share their feedback here.

I would be a directive leader who create a structure and a plan to help anticipants to get in goal and discuss solution towards to align anticipants to do tactical tasks on daily basis and strategy will help to strength the goal. I reflects on my leadership impact constantly and believes in life-long learning. I plan to mobilize the enthusiasm of employees in the process of strategy, increase the vitality of the company, and make a visual forecast and customization of the company’s long-term goals. I choose one of the local State Farm agency to proceed strategic leadership development plan and the agent will be my supervisor to share my strategic leader vision and get feedback about my effectiveness as a strategic leader. 

This insurance business apparently needs to be able to master digitization, analysis and a deep understanding of the clients. what I am seeing is Clients expects insurer to respond faster, serve better and in more personalized ways. So in meeting these expectations, organizations to combine human and technology capabilities to get reasonable division of employees, work skills and client satisfaction and growth (Tibergien, M., 2013). Insurance is a data-driven business, so we need leverage data science to master insurance and recourses analytics what state farm single agency lacks of. 

Vision: We plan to increase sales of insurance products by 3% and sales by 2% in the next two months. By 2020, we will: 

· Expand businessmen scope and Enhance operational efficiency

· Develop workforce/Hire 1 sales

· Maintain good customer satisfaction

Mission: State Farm is your good neighbor to manage the risks of life, recover from the unexpected and realize your dreams. 

SECTION 2: Identify 3 Strategic Leadership Strengths

Describe your 3 strategic leadership strengths in detail.

1

Ability of Information control. I have information about impacting strategic plans, including information about customers, competitors and new technologies. This information can help the strategic plan for breakthroughs and development.

2

Strong business aptitude. I understand the internal operation of the organization and what happened. Because I have held all the basic positions in the organization, I am familiar with the operation of functions and realize cross-functional information sharing. In the strategic plan, understand the mission and goals of the organization.

3

Compact time management. Time management could arrange for the strategic parties to meet and communicate regularly. This is a fixed part of strategic work. Strategic leader can solve participants' questions about "why" and "when" by meanwhile (Olson, A. K. & Simerson, B. K., 2015). 

SECTION 3: Identify 3 Strategic Leadership Growth Areas

Describe your 3 strategic leadership growth areas in detail.

1

Anticipate.

Leader should be good at detecting ambiguous threats and opportunities on the periphery of business.

As senior contributor John said that “State Farm is almost the opposite of a tech startup (Koetsier, J., 2019)”. State Farm is a 100-year-old company and has been the number one insurer in the United States for the last 70 years (Koetsier, J., 2019). In the process of digital transformation in previous 5 years, State Farm has not obtained a high degree of market share and the customer experience has not changed. The breakthrough point for expanding market share of State Farm is to start with technological innovation to improve customer experience and satisfaction.

2

Decide.

Leaders must be quickly selected and executed strategy under incomplete information. Belief is greater than the decision-making process (Schoemaker, P. H., Krupp, S., & Howland, S., 2013) State Farm's agents need to establish a stable and lasting network of contacts to get support and share results from peers.

3

Learn.

Leaders are the center of organizational culture learning for strategic organizations (Schoemaker, P. H., Krupp, S., & Howland, S., 2013). The current cultural atmosphere of the organization is relatively single, and there is a lack of communication and innovation among members. organizational learning should be approachable since there are few members operate in organization.

SECTION 4: Develop Your Action Plan

Write an action plan for maximizing your strengths and improving your competency in each growth area. Draw from the required reading, multi-media, and your one-on-one session to develop key actions/activities that will enable you to become the type of strategic leader and thinker you desire to be for each area.

How will you maximize each strength?

1

Look at a fast-growing rival and examine actions it has taken(Schoemaker, P. H., Krupp, S., & Howland, S., 2013). 

Determine risks and trade-offs for clients when making decisions. 

2

Observation and establish strategy through quantitative analysis. Reward anticipants who support alignment. 

3

Guides strategic endeavors by keeping Quarterly Priorities front-and-center on a dashboard; measures progress via Weekly Meetings (Kabacoff, R., 2014).

How will you improve in each growth area?

1

Talk to our clients and other partners to understand challenges. Conduct market research and business simulations to understand competitors’ perspectives. List clients we have lost in 6 months and find out the reason. 

2

Reframe binary decisions by asking straightforward and explicit questions. Determine who needs to be directly involved and who can impact the success of decision. 

3

Institute after-action reviews, document lessons learned from major decisions. Establish a culture in which inquiry is valued and learning from mistakes.  

SECTION 5: Identify Challenges and Solutions

Identify current and/or potential challenges that you believe can adversely impact your ability to advance your action plan. Present viable solutions that will mitigate and resolve those challenges.

Current and/or Potential Challenges

1. Digital transformation has led tremendous upgrades in customer experience scores in 2019 and increases work speed and efficiency for agents. But not all agents adopt technical approach. So we need to train all employees to master the new working system.

Challenges: Employee complaints, training schedule and staffing.

2. In order to expand sales and market share for local agency, organizational liveness is essential.

Challenge: Develop a new advertising platform, recruit new people, manage and operate an online platform for public events. 

Solutions to Mitigate those Challenges

1. Hire 1 sale to get training with current employees at the same time. Find a training supervisor from the headquarter of State Farm and arrange time for unified training (can be online training). 

2. Language output. Expand the company's visibility through social platforms that output different cultures and languages. Discuss the fund budget with the accounting department and set meeting weekly with anticipants .

SECTION 6: Envision the Possibilities

What impact could you have in your personal and professional life as a result of implementing this action plan?

Personal Life

Increase income by stabilize current client base and absorb new information from the process of strategic plan process. 

Professional Life

Form a systematic and mature decision-making thinking and plan. 

SECTION 7: Identify a Supporter/Collaborator

Identify one supporter/collaborator you will engage with throughout this course. The individual should be someone you trust and can meet with periodically to discuss your progress. Explain how this person can support you in living out your purpose as a strategic leader.

Agent: Toby Stevens.

He has been in the insurance industry for 10 years and has been in his own agency for three years. He fully understands the internal and external environment of the organization and has abundant resources to communicate with other agents.