I have been using great clips for my company in this course and I actually worked for them
for a couple of years, so I am very familiar with there strategic planning. They were very
good at telling employees what their vision was and their mission. As employees were knew
what we needed to do and how to do it to accomplish this plan. Their strategic plan was to
send their employees to training and get us all on the same track with our work. There
wanted ask if their employees to be on the same page as to how long it needed to take to
complete our work and the long-term goals were set in place and made known to the staff.
There are various vital components to consider when creating a strategic plan to help the
organization examine its current position, setbacks, where they want to go and achieve their
goals. They include yearly objectives, action plans, core values, long-term goals, SWOT
analysis, and mission and vision statement. Walmart introduced strategic initiatives that
ensured that the business remained the leading enterprise in the industry. One of the plans is
to save money that consists of components that the company follows to facilitate the money-
saving process. The details include price control, consumables, private label, integrated
communication, general selling, and administrative expenses. These components aim at
keeping the customers happy and renovate its stores. The other Walmart strategic plan is to
win, play and show. The enterprise focuses on gaining a market share, be the leading
enterprise in terms of price, value, and marketing of all new products. It also aims at
growing its services by balancing the outputs and the overall market performance. Another
Walmart initiative is fast, friendly, and clean. The company wants to improve customer
satisfaction, merchandise flow, sustainability, and supply chain transformation. It adopted a
cross-docking process to reduce operating costs, increase output, reduce inventory levels and
eliminate unnecessary handling and storage of products. Walmart communicates the plans to
its workforce, which is very important since it drives employees into organizational success,
improves their engagement, motivation, productivity, and good relationship among workers
and subordinates. When we add up All factors to strategic planning . Which are vision and
mission statement. Scorecard report to see what is needed and what can be added do be
successful. Strategic plan is a necessary to create and layout of goals and achievements
needed to improve or increase company performance. Customer and employee feedback also
helps.Netflix uses more of and open model on running it business . This allows employees to
be more involve in the business planning . Groups give discussion and feed back is taken in
to consideration. When plans are finally developed it is pass along and down proper
channels . After it goes in to effect it is always welcome feed back. Once thing a final and
reviewed also proof of concept it is then time for the new culture to be the norm. Strategic
plan are meant to improve operation and culture business structure if done right it push a
business over the edge and create over all improvement for the company. This is not an
overnight process but worth the investment. An exit strategy is a plan to determine how
certain outcomes will be handled in case things do not go as planned, or if ownership of the
business wants to be transferred to someone else. There are several kinds of exit strategy
ranging from selling the business, to total liquidation of assets. A point to remember about
exit strategies is that they are recommended to be put together early on and updated as time
and circumstances pass. Strategic planning is very important when it comes to the growth of
a company or organization. Some key components I would consider is the vision and the
values of the company.. a company strategic plan also has to be based on the analysis of all
the factors within. For every assignment of this course, I chose Starbucks. Starbucks decided
to improve their coffee by using new products to try to improve their customer
satisfaction’s. I think that this will work if the quality of the coffee is better than what they
have. I personally do enjoy Starbucks coffee. However, the cost is still a little bit too pricey
for me to have often. One thing I would like to see in a new strategic plan with them would
be how to lower their cost for the customers. using their vision and their mission knowing
that they want to satisfy all their customers I would hope that they could find a way to
complete this. I do believe that Starbucks does do a good job of communicating Within their
work force. When figuring out and defining the scope of a business strategic planning helps
make long-term decisions. It assists with determining what products to suspend and develop
along with identifying the best market niche that will be most profitable and productive.
Most companies base their strategic plan to be the best-quality maker or have an objective to
have the largest share/portion of the market. Implement a team that is based primarily on
brainstorming and planning and fully commit to the planning process. Organizations rely on
their mission and vision so that both the company’s strategy and objectives created moving
forward will support the goals. Creating a course of action is essentially creating a timeline
that will ensure that goals are met.
Starbucks is elevating its coffee by upgrading the quality with the launch of Clover Vertica
to uplift the customer’s experience. Moreover, they are devolving their Starbucks Rewards
program with new trial experiences and growing their retail business. Starbucks has plans
for participating in expanding intercontinental sectors as it centers around focusing on data
about customer behavior. Strategic planning is a process in which leaders of an organization
define their vision for the future and identify their organization's goals and objectives.
Strategic planning is important because it helps guide the organization in the right direction
to successfully meet its goals.
The components I would consider necessary for creating a strategic plan is a good and clear
vision statement. The vision statement lays on the table the current and future objectives of
your business.
Another necessary component is your companies mission. The organizations mission
informs the actions of your organization by including details on what you accomplish as a
company. Other components that are necessary are short term goals and SWOT analysis.
The organizations short term goals should align with the vision and mission statements of
the company. These goals should be measurable, realistic and communicated across the
organization. The SWOT analysis is a tool used to identify your companies strengths and
weaknesses both internally and externally as well as any opportunities and threats. SWOT
also allows you to assess the company goals.The company i chose to analyse is Tesla. Tesla
uses the marketing mix or 4Ps (Product, Place, Promotion & Price) for its company strategic
planning. Tesla has a unique approach to building its company culture which makes them a
leader and innovator in this area. They achieve this by skip level meetings, reducing meeting
size, broad spans of control and giving employees trust and responsibility. Strategic planning
is a process by which management works to achieve future success for the organization. The
vision, mission, goals and objectives, SWOT analysis, and implementation are all critical for
strategic planning.
Walt Disney started with a vision of becoming a worldwide entertainment producer and has
done precisely that up to now. Walt Disney has captivated our hearts for over 100 years of
storytelling. I remember the emotions I had the first time I watched The Lion King, the
many times I have seen Cinderella, and all the different versions of Cinderella. Disney’s
mission has been to motivate each one of us to believe in ourselves and achieve great things.
We can see it in every movie that inspires us to do better personally and professionally and
that we can create new and exciting possibilities for ourselves and others. I think Walt
Disney is good at communicating the strategic plan for the company to their workforce
because if they weren’t, they would not have lasted this long. When a company cannot
express what it wants to achieve and where it wants to be in 10 years, it will not advance.
For example, last year, a builder was remodeling houses but did not communicate directly
with each subcontractor about what he wanted. Instead, he sent his assistant. So, when a
subcontractor came to a point where someone had to make a decision, they would have to
ask the assistant. Unfortunately, the builder’s assistant and the builder could not
communicate effectively, resulting in the project being torn down. The miscommunication
cost the builder more than expected.
If this keeps happening to the builder, he will have no profit. A strategic plan is a document
that establishes the direction of an organization. It can be a single page or fill up a binder,
depending on the size and complexity of the business and work. The basic elements of a
strategic plan are vision, mission, SWOT analysis, core values, goals, objectives, and action
plans. A vision statement describes the way you envision your business. As such, it should
communicate that dream to your employees and customers in an inspirational manner. A
vision statement should be reviewed continuously to ensure it is still aligned with the way
you see your company. Apple works with suppliers in 43 countries and six continents to
make its products, and the chain gets even more complicated when you break it down. I did
some research and Apple does offer great benefits to their employees as well. I think this is
a large company that should be able to treat their employees fairly. I think it has a lot of
benefits working for a company such as Apple in my opinion. While the business operations
framework is a continuous cycle in which each stage informs the next, developing a strategic
plan is the best place to start.
During the strategic planning process, an organization performs three steps:
1. Builds or modifies the foundational strategic vision and mission
2. Commits to goals that drive overall health
3. Develops a long-term plan to achieve the goals
A strong strategic plan positions the organization for success and clearly defines it at every
level.
A common mistake we see businesses make is starting tactical initiative execution without
first communicating and aligning on the goal. Skipping these important steps can leave your
organization without direction.
We are a purpose-driven company with a mission grounded in the human experience as we
seek to have a positive impact on both people and the planet, while profitably growing our
business,” said Johnson. “Over the past two years, we have further streamlined the company,
sharpened our focus on accelerating growth in our two lead markets of the U.S. and China,
and expanded our global reach through the Global Coffee Alliance with Nestlé while
increasing returns to all of our stakeholders. Looking ahead, coffee remains a very large and
attractive market that is growing globally. We are focused on growing category share and
believe Starbucks is better positioned than ever for continued success. The components
necessary for creating a strategic plan are creating a vision, your mission statement, values,
structure, and culture. You must also understand the strengths and weaknesses as well as
opportunities and threats to your company.
Amazon is strong in innovation and they utilize their strengths by encouraging their
workforce to further their vertical as well as horizontal innovation. Being that their company
is an easily imitated platform, Amazon has to work twice as hard to keep ahead of the
competition. Using the workforce to bring in new ideas, trying to gain and keep a global
presence, being able reach a market that is not as tech savvy and to keep up with the vision
of being "The earths most customer-centric company" and pushing home the idea that every
day is the first day, Amazon has done a great job of communicating the vision and the
strategic plan of the company. From the distribution centers to the brick-and-mortar and
corporate offices as well. The training and push to make Amazon even greater is always
there while encouraging their workforce to be more than just an employee, but to contribute
to the company as if it was their own. Several components are involved in developing a
comprehensive corporate strategy. The four most widely accepted key components of
corporate strategy are visioning, objective setting, resource allocation, and prioritization.
(“Four Key Components of Corporate Strategy”)
Apple uses product development as its main intensive strategy for growth. Product
development requires that the company develop attractive and profitable technology
products to grow Apple’s market share and business performance. (“Apple Inc.’s Generic
Strategy & Intensive Growth Strategies”)
Apple’s business strategy consists of the following four elements:
• Focus on product design and functionality.
• Strengthening Apple's ecosystem.
• Improving consumer service experience.
• Reducing the business's reliance on iPhone sales.
Apple’s business strategy can be classified as product differentiation. Specifically, the
multinational technology company differentiates its products and services based on simple,
yet attractive design and advanced functionality. (“Apple Business Strategy: a brief
overview - Research-Methodology”) First-mover advantage is another element of Apple’s
competitive advantage.
It also plans to build an important brand for customers by educating them about the
company and its products because Apple believes that it is important to build a strong
relationship between the company and customers to gain confidence with its customers, as it
offers many free workshops for people with a different. (“Apple Company: Planning,
Organizing, Leading And Controlling”) Throughout the years, Apple has been known to hit
the news media with well-organized press conferences to launch its products or address any
problems that may have arisen from its products. The strategic planning is important factor
to be in place when planning to start up a business. The important part of the plan for
strategic components is strategic thinking consider the visioning, long-range planning with
objective settings of mission statement, and resource allocation with operational planning
with goals and objectives (Indeed Editorial Team, 2021). One example of strategic planning
would be as simple as starting a Kool-Aid stand in your front yard. Would you have
considered how a strategic planning for a Kool-Aid stand has a variety of characteristics in
place. Starting with short-term vision followed into a realistic goal with mission statement
declared and setting goals and objectives with a clear deadline. One strategic plan will have
the ability to experience changes or adapt as necessary for success. Teaching this skill set
potential is an element of career development in sales.
The chosen company in this course has been Airbnb. The components in the strategic
planning have done a good job of communicating and part of the company success. The
company supports many listings globally in almost 220 countries reported in 2020, giving
their customers support with appeal to the traveler. The key to this strategic planning is with
the partnership with the host with the business plan of giving them the ability to list a home,
extra space, or rooms on the Airbnb website. The host are part of the workforce for Airbnb
alone with their own employees. The employees presenting the vision and mission
statements with ongoing training experience. Also sharing experiences, presenting best
living spaces, and communicating the strategic plan including the outreach program. The
main components that I would consider will be a Vision and Values. I feel that the Vision is
what you want to accomplish for your company once you tell people your vision and it
begins to come to the past and you see it for yourself that it is amazing as well as other
people will see. The Values are how you act legally and ethically this to me is important it
allows people to see your integrity and character. My case Study Airbnb, Inc. when it comes
to their clients they have a mission to Belong Anywhere and they want to create a company
that when you are not traveling you have a place to live just like home. I feel that they have
done this with the company as a whole. They have over 1 billion clients globally and have
created a company that when you are traveling you have a place to live. They have an
engineering team has its own science, they do not have particular jobs, they have projects
they work on, this is very good by itself because sometimes you can be under stress. This
under their values. This has to do with every Framework matters.
