Week 6 - Final Strategic Plan

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Running Head: STRATEGIC IMPLEMENTATION PLAN

STRATEGIC IMPLEMENTATION PLAN 4

As discussed before, Voxx International Corporation is an American company dealing with consumer electronics and after-market automotive electronics as well as originally manufactured electronics. It has some set of strategies, including strategic Business Level, corporate-level strategies, and global strategies. The strategies are meant to help the organization push its operations towards achieving the set goals. A strategic implementation plan is used to put into practice the outlined strategies.

A strategic implementation plan is a document employed in defining the implementation strategy. It outlines the decisions and activities that are essential in turning the strategic goals into reality. It also includes progress reports and feedback to ensure that the plan is on track and moving in line with the laid objectives. This strategic implementation plan is meant to guide the organizational direction, specific efforts, and the outlined initiatives. It is through the implementation that the processes of bringing the strategic plans into life are discussed.

Objectives

The purpose of these strategic plans is to give the stakeholders in Voxx International corporation confidence that the accomplishment of current strategic plans has been considered. It lists the activities, tasks, and processes involved in producing deliverables (Zhang et al. 2018). It enables the stakeholders and the organization at large to apply management best practices in initiating and carrying out the set plans. It will guide the strategic implementation teams to recognize and apply the beat best quality management practices for the plan that results in improved quality of the plans' variables. Besides, it defines the strategic plans’ scope and schedule duration of tasks confidently to attain better time management in the strategic plan management. It enables the team to implement the monitoring tools and controls to keep the stakeholders on time track of the strategic plan course.

Functional Tactics and Action Items

Functional tactics are the critical and routine activities that guide strategic implementation. To implement the strategic plan, there are several functional tactics to be considered. They include human resource management, finance, marketing, R&D, and operations to produce the business products and services. For optimal functioning of the Voxx International corporation, the implementation plan management team has to evaluate the research competitor pricing the services offered as well as offer education and training to employees on the new practices and standards in the competition. The action items are particular actions that facilitate plan and goal implementation. The one applicable for Voxx International corporation is identifying new market strategies and effective communication procedures. A group of individuals will execute the action plans within six months of the strategic plan.

Task and task ownership

Tasks should be assigned to different groups with set time frames. Task ownership is a cardinal factor for motivation since it upholds responsibility and accountability among the corporation’s teams (Harper & Sanchez 2019). The finance team is mandated to receive payments and submit a credit application to financial organizations. The salespersons will secure the essential documentations and drive in new customers.

Milestones and Deadlines

Voxx International corporation needs to have milestones and deadlines for the implementation plan. Some of them include expanding them into the international market by September 2020, conducting yearly employee surveys to gauge their expertise and skills. It also plans to implement diverse global technological systems to serve different markets by November 2020. An allowance time of two months is set for the deadlines. Voxx International corporation management team will monitor the progress.

Resource allocation

Voxx International corporation’s resources will be allocated as per the needs and roles of every department. The accounting, import, logistics, and export departments will be allocated technological resources, and hired specialists needed every field. The sales and marketing teams will be funded to support advertisements, promotions, sales calls, and frequent updates about Voxx International corporation to the customers and staff.

Key success factors

To ensure that the strategic plan is successful, A Voxx International will employ certain techniques. The utilization of customer feedback to fast track their dynamic needs and preference. Studying the global marker to aid in implementing the global strategy for the organization. The global market strategy can be successful if the company collect every information about the markets. The adequate funding of the strategic implementation plan will ensure that all the processes and procedures are completing at the stipulated time. Voxx International corporation ought to achieve a booking and sales increase of at least thirty-five percent to proceed with the global strategy and tapping of new markets.

Risk Mitigation and Contingency Plan

Voxx International corporation is likely to face some risks that impact the implementation plan. Among the identified risks include loss and damage f electronic products. The other risks include government regulations that might delay the implementation of the strategic plans. Loss of major suppliers and distributors' information. The contingency plan will address the risk associated with the loss and damage of electronic products (Saleh, Ibrahim & Abd Rahman 2019). The following preventive measures ensure that the customer's and the organization's security and satisfaction is guaranteed. Restricting access to the organization's information, including those for the suppliers and distributors. Varying the supply documents to avoid liability from losses and damages of electronic products.

Organizational change management strategies

Organizational change is essential for organizations that need to remain competitive and evolve their operations. For Voxx International corporation, the most effective change management strategies are the ones that focus on the elements of the employees. The decisions of the employees are significantly impacted by organizational change. Several change management strategies deal with the human aspects of organizational change. They include a proposed incentive, redefine cultural values, exercise authority, recruiting champions of change, and shift the burden of adjustment.

Shifting the burden of change enhances the successful implementation of the strategic plan. People are always quick to oppose changes, particularly those they perceive as disruptive or undesirable. The implementation team can take advantage of the transformative organizational change and adaptability by establishing new structures and completing new workflows and processes. It has a gradual transformation from the old strategic plans to the new ones.

Reference

Awino, Z., Muteshi, M., Kitiabi, R., and Pokhariyal, G. (2018). Firm-Level Strategy, Organization Culture, and Performance of Food and Beverage Manufacturing Firms in Kenya. International Journal of Business and Management. Vol. 13, No. 8. -ISSN 1833-8119

Harper, L. E., & Sanchez, D. (2019). Strategic Implementation of Green Public Procurement in the City of Buenos Aires. In Green Public Procurement Strategies for Environmental Sustainability (pp. 110-147). IGI Global.

Saleh, N., Ibrahim, I., & Abd Rahman, F. (2019). Determine the Factors of Influence the Technological, Organizational, Environmental, Halal Awareness towards Halalan-Toyyiban Risk Management Plan (HTRMP). Transportation, 2(09).

Zhang, X., Song, H., Gao, G., Ma, L., Liu, T., & Liu, L. (2018, December). Evaluation Framework for Strategic Implementation Process in Large Enterprises. In Third International Conference on Economic and Business Management (FEBM 2018). Atlantis Press.