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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.§ Strategic§ planning§
is§ identifying§ the§ business's§ mission,§ goals,§ values,§ and§ operation.§ Everyone§
company§ should§ have§ a§ strategic§ plan§ if§ they§ want§ the§ business§ to§ grow§ and§
be§ successful.§ Apple§ uses§ its§ mission,§ goals,§ and§ values§ to§ build§ its§ strategy.§ pp§
Apple§ also§ uses§ vertical§ integration§ as§ a§ corporate§ strategy§ for§ its§ company.§ §
This§ allows§ management§ to§ set§ and§ make§ goal-directed§ actions§ to§ gain§ and§
sustain§ competitive§ advantage.§ Vertical§ integration§ is§ one§ of§ the§ three§
dimensions§ of§ corporate§ strategy.§ § Vertical§ integration§ asks§ the§ question§ of§ what§
stage§ of§ the§ industry§ value§ chain§ the§ company§ should§ participate§ (Singh,§ 2023).§
The§ value§ chain§ is§ the§ transformation§ of§ raw§ materials§ into§ goods§ and§ services.§
Apple§ succeeded§ in§ the§ vertical§ model§ because§ it§ builds,§ controls,§ and§
manufactures§ all§ of§ its§ hardware§ and§ software.§ Apple§ has§ increased§ its§ R&D§
budget§ to§ 16§ billion§ dollars,§ which§ accounts§ for§ 7.9%§ of§ total§ sales(Singh,§
2023).§ § Apple's§ strategy§ is§ on§ its§ product§ design,§ and§ product§ function,§
strengthening§ its§ ecosystem,§ improving§ customer§ service,§ and§ reducing§ the§
business's§ total§ reliance§ on§ iPhone§ sales.§ The§ construct§ of§ strategic§ planning§
seems§ to§ vary§ in§ some§ cases.§ The§ basis§ however§ seems§ to§ keep§ the§ focus§ of§
the§ person/s§ who§ are§ involved§ in§ the§ plan§ or§ company§ entity§ that§ has§ an§
explanation§ to§ what§ it§ is§ actually§ set§ out§ to§ accomplish.§ The§ basis§ is§ the§
accomplishment§ the§ company§ is§ driven§ to§ achieve.§ Vision,§ mission,§ and§ value§
are§ the§ root§ of§ the§ success§ tree§ but§ not§ always§ adopted§ in§ the§ culture§ of§ the§
company.§ This§ is§ presumed§ and§ not§ always§ fact§ or§ true§ to§ the§ ambitions§ the§
company§ may§ have.§ The§ idea§ is§ to§ handle§ the§ strategic§ planning§ realistically.§
This§ can§ make§ this§ tool§ misunderstood§ if§ there§ are§ no§ clear§ examples§ of§ what§
is§ needed§ to§ accomplish§ the§ goals.§ The§ lack§ of§ vision§ and§ goal§ that§ needs§ to§
be§ meet§ are§ outdated§ can§ cause§ bad§ habits.§ The§ lack§ of§ a§ sound§ foundation§
to§ the§ goal§ such§ as§ subjective§ information§ rather§ than§ real§ information§ is§
another.§ There§ is§ no§ room§ for§ an§ opinion§ when§ the§ objective§ should§ be§
factual.§ Follow-up§ research§ and§ evaluations§ can§ be§ costly§ if§ the§ vision§ is§
blurred.§ This§ should§ always§ be§ a§ living§ document§ so§ it§ can§ be§ modified§ and§
updated.§ They§ should§ be§ a§ laser§ focus.§ The§ company§ cannot§ be§ everything§ to§
everyone§ so§ the§ visions§ and§ mission§ should§ focus§ have§ to§ be§ better§ that§ the§
competition.§ How§ to§ be§ proactive§ when§ avoiding§ rick§ and§ leveraging§
opportunities.§ This§ should§ have§ a§ flow§ from§ corporate§ planning§ to§ the§ business§
unit§ for§ goals§ and§ targets§ that§ need§ to§ be§ met,§ to§ the§ performance§ of§ the§
employee's§ plan.§ Defining§ what§ strategy§ is§ can§ benefit§ those§ who§ are§ unaware.§
The§ strategy§ should§ be§ clear.§ The§ lowest§ cost§ to§ the§ company.§ The§
differentiation§ or§ uniqueness§ of§ the§ product§ to§ the§ market.§ The§ mergers§ and§
acquisitions§ the§ company§ may§ have.§ The§ focus,§ the§ collaboration,§ the§ need§ to§
be§ first§ to§ market.§ This§ all§ is§ what§ is§ strong§ in§ the§ strategic§ planning.§ This§
shows§ in§ Nike's§ performance.§ Nike§ as§ a§ company§ show§ that§ it§ is§ operating§ in§
real§ time.§ The§ uniqueness§ of§ its§ footwear§ and§ equipment§ speaks§ volumes.§ The§
act§ of§ creating§ these§ items§ out§ of§ recycled§ materials§ is§ cutting§ edge.§ The§
collaboration§ between§ "Off§ White",§ Dior,§ Tiffanys§ &§ Co§ has§ drawn§ others§ to§
attempt§ the§ same.§ The§ acquisition§ of§ Converse§ has§ boost§ revenue§ from§ the§
iconic§ brand.§ This§ was§ not§ a§ takeover§ it§ was§ a§ strategic§ planning§ and§ Nike§
has§ successfully§ laid§ a§ landscape§ and§ offered§ a§ blueprint.§ In§ strategic§ planning,§
the§ components§ necessary§ for§ creating§ a§ strategic§ plan§ are§ strategic§ leaders§
from§ the§ organization,§ a§ SWOT§ analysis,§ a§ vision§ statement,§ and§ goals§ the§
organization§ is§ trying§ to§ achieve.§ My§ chosen§ company§ is§ GreatAmerica§
Financial§ Services§ and§ they§ use§ all§ of§ these§ things§ in§ their§ strategic§ planning§
process§ annually.§ Each§ year§ the§ business§ leaders§ block§ time§ outside§ of§ the§
office§ to§ spend§ two§ days§ as§ a§ team§ going§ through§ their§ SWOT§ analysis§ and§
updating§ things§ that§ had§ changed§ since§ the§ prior§ year.§ From§ there,§ they§ review§
the§ five§ year§ vision§ statement§ and§ get§ centered§ what§ their§ long§ term§ goals§ are.§
Lastly,§ they§ brainstorm§ and§ list§ out§ all§ the§ things§ that§ they§ are§ seeing§ as§
opportunities§ in§ their§ red§ ocean§ and§ identify§ blue§ ocean§ opportunities§ to§
possibly§ go§ after.§ All§ of§ this§ is§ done§ to§ vote§ on§ the§ highest§ prioritized§ items§
to§ enable§ them§ to§ achieve§ their§ goals.§ Once§ the§ objectives§ are§ defined,§ action§
plans§ are§ created§ and§ front§ line§ team§ members§ are§ identified§ to§ join§ the§ team§
and§ deliver.§ There§ are§ quarterly§ readouts§ to§ all§ employees§ to§ share§ and§
emphasize§ what§ is§ being§ worked§ to§ help§ the§ company§ achieve§ goals§ and§ offer§
updates§ and§ progress§ towards§ that§ achievement.§ I§ believe§ in§ strategic§ planning§
the§ components§ that§ are§ necessary§ for§ creating§ a§ good§ strategic§ plan§ are§
SWOT§ analysis§ which§ provide§ a§ company§ with§ a§ way§ to§ review§ their§ strength,§
weakness§ and§ how§ to§ achieve§ their§ goals.§ Vision§ goals,§ which§ provides§ a§ way§
to§ see§ what§ the§ future§ will§ look§ like§ for§ their§ business,§ a§ mission§ that§ is§
mainly§ their§ goals§ for§ the§ future.§ I§ chose§ Air§ BNB§ and§ they§ are§ using§ the§
vision§ and§ mission§ statements§ to§ have§ their§ guest§ vacation§ anywhere§ using§ Air§
BNB§ and§ create§ deep§ connections§ with§ the§ locals.§ They§ also§ focus§ on§ SWOT§
analysis§ to§ see§ where§ they§ are§ lacking§ and§ how§ they§ can§ improve§ themselves§
in§ the§ future.§ Air§ BNB§ is§ known§ almost§ worldwide§ and§ is§ the§ best§ alternate§
lodgings§ for§ a§ vacation,§ it§ is§ cheaper§ than§ staying§ at§ a§ hotel§ for§ your§
extended§ stay.§ It§ allows§ the§ guest§ to§ stay§ closer§ to§ the§ city§ and§ be§ able§ to§
mingle§ freely§ with§ the§ person§ that§ lives§ there.§ Some§ of§ their§ weaknesses§ that§
they§ are§ working§ on§ is§ the§ quality§ of§ some§ of§ the§ properties§ the§ hosts§ offer§
and§ an§ easier§ way§ to§ find§ them§ I§ think§ that§ in§ strategic§ planning§ the§
components§ that§ are§ necessary§ would§ be,§ A§ SWOT§ analysis,§ which§ we§ learned§
about§ in§ the§ last§ few§ weeks§ which§ helps§ the§ company§ to§ learn§ their§ strengths§
and§ weaknesses,§ opportunities§ and§ threats.§ A§ Vision§ statement§ because§ it§
provides§ a§ short§ summary§ highlighting§ what§ your§ business§ with§ look§ like§ in§
the§ future.§ Goals§ and§ Objectives,§ short§ term§ and§ long-term§ goals§ as§ they§ relate§
to§ your§ overall§ business§ vision.§ I§ choice§ Walt§ Disney§ for§ my§ company§ and§
they§ have§ done§ some§ strategic§ reorganization§ with§ the§ company§ in§ 2005.§ They§
are§ strategically§ positioning§ their§ business§ for§ the§ future§ creating§ a§ more§
effective,§ global§ framework§ to§ serve§ consumers§ worldwide,§ increase§ growth§ and§
maximize§ shareholder§ value.§ They§ had§ a§ goal§ of§ making§ media§ networks§ which§
we§ now§ know§ that§ they§ have§ done§ with§ the§ Disney§ channel§ and§ also§ the§
Disney§ plus§ streaming§ app.§ I'm§ not§ too§ sure§ how§ good§ of§ a§ job§ they§ do§ with§
commutating§ their§ plan§ with§ the§ workforce§ I'm§ sure§ if§ you§ are§ part§ of§ the§
CEO§ or§ the§ people§ that§ are§ high§ up§ that§ you§ know§ about§ their§ plans§ but§ I'm§
not§ too§ sure§ about§ the§ other§ people§ that§ work§ for§ them.§ Strategic§ planning§ is§
a§ vital§ component§ for§ effective§ management§ of§ an§ organization,§ and§
consideration§ of§ elements§ such§ as§ vision,§ goals§ among§ others,§ will§ result§ in§
high§ productivity.§ Your§ strategic§ plan§ is§ the§ document§ that§ shapes§ the§ specific§
activities§ you'll§ undertake§ to§ overcome§ the§ challenges§ you§ face§ on§ the§ way§ to§
your§ goals.§ It§ spells§ out§ the§ logical§ steps§ you§ will§ take§ to§ lead§ you§ from§ the§
start§ to§ the§ finish§ of§ your§ endeavor.§ SWOT§ are§ very§ important§ components§ in§
having§ a§ strong§ strategic§ plan.§ My§ chosen§ company§ Netflix§ has§ been§ the§
leading§ streaming§ service§ for§ years.§ Netflix§ is§ constantly§ striving§ to§ build§ its§
customer§ base§ by§ reaching§ more§ countries§ around§ the§ globe.§ They§ keep§ and§
gain§ new§ customers§ by§ keeping§ a§ wide§ array§ of§ movies§ and§ series§ available§
along§ with§ using§ customer§ preferences.§ Offering§ new§ and§ recent§ releases§ of§
movies§ and§ tv§ series§ is§ another§ way§ to§ create§ new§ and§ repeat§ customers.§
Netflix§ has§ started§ to§ implement§ cracking§ down§ on§ password§ sharing§ among§
households.§ With§ their§ convenient§ options§ to§ stream§ making§ their§ services§
available§ to§ use§ wherever§ whenever,§ stopping§ password§ sharing§ will§ push§ for§
new§ accounts§ created§ by§ these§ users§ creating§ increased§ revenue.§ In§ the§
development§ of§ an§ organizations§ strategic§ plan,§ it§ is§ necessary§ to§ evaluate§ all§
components§ to§ ensure§ the§ alignment§ of§ your§ organizations§ culture,§ goals,§ and§
vision§ is§ considered.§ The§ plans§ focus§ is§ to§ develop§ future§ growth§ and§
development§ within§ the§ operating§ elements§ of§ the§ organization,§ to§ ensure§ that§
all§ areas§ of§ concern§ are§ encompassed§ within§ the§ plan§ to§ alleviate§ the§ possible§
issues§ that§ may§ arise.§ The§ Tesla§ organization§ utilizes§ their§ vision§ and§ culture§
to§ develop§ strategic§ plans§ for§ future§ growth§ into§ new§ markets§ while§ developing§
new§ products§ for§ sustainability§ in§ the§ energy§ sector.§ I§ believe§ the§ Tesla§
organization§ utilizes§ these§ tools§ incredibly§ well,§ the§ understanding§ the§
organization§ has§ with§ internal§ development§ is§ something§ that§ sets§ them§ apart§
from§ others.§ Tesla§ continues§ to§ innovate§ new§ technologies§ and§ ideas§ to§ promote§
positive§ growth§ and§ sustainability§ while§ eliminating§ risks§ associated§ with§ the§
production§ of§ electric§ vehicles§ and§ energy§ storage§ products.§ I§ believe§ that§ Tesla§
utilizes§ a§ strategic§ plan§ for§ internal§ employees§ as§ well,§ the§ company§ promotes§
innovation§ within§ the§ organization§ as§ a§ way§ to§ utilize§ the§ ideas§ of§ its§
employees§ to§ develop§ new§ technologies.§ This§ is§ something§ that§ will§ continue§ to§
sustain§ Tesla§ with§ new§ products§ and§ ideas§ pushing§ them§ further§ than§ other§
manufacturers§ and§ suppliers.§ When§ it§ comes§ to§ businesses§ formulating§ a§ plan§
there's§ no§ better§ tool§ than§ strategic§ planning.§ In§ order§ to§ alleviate§ complexities§
and§ minimize§ continued§ problems,§ it§ is§ important§ to§ follow§ the§ strategic§
planning§ process§ and§ focus§ on§ elements§ that§ make§ up§ an§ effective§ strategic§
plan.§ The§ focus§ on§ strategic§ planning§ process§ but§ here§ are§ some§ of§ the§
intensity§ of§ your§ planning§ process.§ The§ essential§ elements§ you§ need§ to§ consider§
when§ carrying§ out§ your§ strategic§ plan§ is§ vision,§ mission,§ short§ term§ goals,§
SWOT§ analysis,§ and§ most§ of§ long§ term§ goals§ and§ annual§ objectives.§ These§
elements§ are§ crucial§ to§ understanding§ the§ problem§ at§ hand§ and§ landscape§ in§
which§ you§ operate.§ By§ accounting§ fro§ each§ of§ these§ elements,§ you§ are§ assuring§
the§ rest§ of§ your§ organization§ that§ you§ have§ looked§ deeply§ into§ the§ issue,§
accounting§ for§ any§ issues§ or§ concerns§ that§ might§ be§ had.§ The§ main§
components§ of§ a§ strategic§ plan§ is§ a§ vision§ of§ where§ it§ is§ headed,§ a§ set§ of§
performance§ targets,§ and§ a§ strategy§ to§ achieve§ them.§ Which§ all§ these§ elements§
you§ can§ not§ go§ wrong.§ In§ strategic§ planning§ all§ components§ are§ very§ necessary§
as§ the§ structure§ of§ the§ plan§ should§ be§ based§ on§ the§ foundation§ of§ the§ culture§
which§ is§ created§ based§ on§ visions§ of§ achievements§ within§ the§ organization.§ The§
strategy§ used§ at§ my§ chosen§ company§ is§ directly§ sewn§ into§ dedication§ to§
employee§ consumer§ as§ well§ as§ the§ gratified§ outcome§ of§ financial§ gains.§
The§ methods§ used§ to§ endure§ strategic§ operations§ with§ successful§ monetary§ gains§
and§ customer§ and§ employee§ relations.§ When§ it§ comes§ to§ communication,§ the§
organization§ does§ very§ well§ with§ delivery§ to§ the§ workforce§ as§ through§ inner-
organization§ programs§ that§ interact§ with§ the§ employees§ with§ participative§
remedies.§
The§ relationship§ the§ organization§ has§ with§ the§ employees§ are§ connected§ which§
is§ greatly§ communicated§ through§ the§ active§ programs§ with§ employee§ and§
community§ as§ well§ as§ overall§ environment.§ One§ such§ program§ such§ as§
Community§ Development§ which§ involves§ employees§ volunteering§ within§ their§
community§ which§ helps§ strengthen§ and§ improve§ organization§ status§ and§
achievements.§ Also§ as§ the§ organization§ is§ involved§ in§ the§ communities§ with§ the§
employees§ there§ are§ also§ focus§ directly§ on§ employee§ support§ programs§ such§ as§
occupational§ health§ that§ address§ psychological§ risks§ in§ the§ workplace§ with§ focus§
on§ the§ welfare§ of§ employee§ at§ work§ and§ at§ home.§ The§ company§ does§ a§ great§
job§ of§ communicating§ the§ plan§ to§ the§ workforce.§
Strategic§ planning§ is§ needed§ for§ a§ company§ to§ continue§ to§ look§ at§ ways§ to§
grow§ and§ improve§ their§ organization.§ A§ strategic§ plan§ helps§ an§ organization§ to§
function§ more§ efficiently§ as§ a§ team§ as§ well§ become§ more§ collaborative§ and§
innovative.§ With§ the§ constant§ changing§ of§ products,§ strategic§ planning§ is§
important§ to§ stay§ relevant§ and§ maintain§ a§ competitive§ edge§ on§ the§ competition.§
Some§ of§ the§ components§ I§ feel§ are§ necessary§ are§ knowing§ your§ strengths,§
weaknesses,§ opportunities,§ and§ threats.§ Netflix§ has§ been§ the§ leading§ streaming§
services§ for§ years§ with§ sales§ boosting§ during§ the§ covid-19§ time§ frame.§
However,§ they§ have§ dropped§ from§ twenty-none§ percent§ to§ twenty§ percent§
recently§ (Burch,§ S§ 2021,April§ 5).§ A§ strategic§ plan§ as§ how§ to§ attract§ and§ retain§
current§ customers§ is§ important§ because§ losing§ customers§ and§ and§ not§ gaining§
new§ customers§ will§ ultimately§ continue§ to§ effect§ their§ sales§ and§ revenue.§
Knowing§ what§ their§ strengths§ are§ such§ as§ offering§ customers§ convenient§ ways§
to§ stream.§ As§ well§ as§ offering§ a§ variety§ of§ movies§ and§ shows§ based§ on§
customers§ preference.§ Another§ strategic§ planning§ that§ would§ be§ useful§ is§
knowing§ what§ the§ mission§ and§ vision§ is.§ Netflix§ is§ strives§ to§ reach§ a§ broader§
audience§ outside§ of§ the§ US.§ Netflix§ expanded§ to§ close§ to§ every§ major§ market§
outside§ of§ the§ US§ .As§ they§ expand,§ they§ are§ now§ streamlining§ their§ streaming§
service§ by§ cracking§ down§ on§ households§ who§ share§ their§ passwords.§ They§ are§
communicating§ their§ goal§ of§ building§ a§ solid§ relationship§ in§ the§ streaming§
world.§ The§ components§ I§ would§ consider§ necessary§ for§ creating§ a§ strategic§ plan§
in§ strategic§ planning§ would§ be§ the§ vision,§ mission,§ short§ term§ goals§ and§ long§
term§ goals,§ and§ the§ SWOT§ analysis.§ Strategic§ planning§ is§ essential§ to§
businesses§ when§ formulating§ a§ plan.§ It§ is§ very§ important§ to§ follow§ the§ strategic§
planning§ process.§ My§ chosen§ company§ is§ Apple.§ Apple§ business§ strategy§ consist§
of§ elements§ such§ as§ focusing§ on§ product§ design,§ strengthening§ Apple's§
ecosystem,§ improving§ consumer§ service§ experience,§ and§ reducing§ the§ business's§
reliance§ on§ iPhone§ sales.§ Apple's§ vision§ statement§ is§ "To§ make§ the§ best§
products§ on§ earth§ and§ to§ leave§ the§ world§ better§ than§ we§ found§ it".§ Their§
mission§ is§ is§ to§ bring§ the§ best§ user§ experience§ to§ it's§ customers§ through§
innovative§ hardware,§ software§ and§ services.§ Apple's§ short§ term§ goal§ is§ to§
maintain§ supply§ and§ provide§ excellent§ service§ to§ customers.§ As§ far§ as§ their§
long§ term§ goals§ they§ have§ a§ variety§ of§ those§ including§ opening§ more§ online§
and§ brick§ and§ mortar§ stores.§ Apple§ has§ a§ comprehensive§ communication§ plan§
and§ they§ do§ a§ very§ great§ job§ at§ communicating§ their§ plans§ to§ their§ workforce.§
Poor§ communication§ in§ an§ organization§ can§ lead§ to§ a§ number§ of§ disastrous§
outcomes§ and§ it§ is§ in§ the§ best§ interest§ of§ management§ and§ leadership§ to§
promote§ effective§ communication§ across§ all§ departments.§ This§ said,§ is§ it§ possible§
that§ poor§ communication§ has§ become§ a§ scapegoat§ term§ when§ things§ do§ not§ go§
right?§ I§ believe§ it§ is§ very§ possible§ to§ do§ just§ that.§ I§ have§ been§ involved§ in§
projects§ that§ did§ not§ yield§ the§ expected§ results§ and§ the§ first§ reason§ that§ was§
provided§ for§ the§ core§ reason§ was§ poor§ communication.§ After§ further§
investigation,§ it§ was§ found§ that§ lack§ of§ communication§ had§ very§ little§ to§ do§
with§ the§ problems.§ In§ some§ occasions,§ it§ was§ lack§ of§ documented§ processes§ to§
execute§ the§ activities,§ in§ other§ cases,§ it§ was§ lack§ of§ required§ knowledge§ or§
skills§ in§ the§ workforce.§ At§ the§ end§ of§ the§ day,§ communication§ was§ not§ the§
core§ issue§ with§ the§ project§ failure,§ but§ that§ is§ not§ what§ was§ conveyed§ to§
corporate§ leadership.§
Of§ course,§ one§ communication§ is§ blamed,§ you§ have§ the§ "expected"§ response§
from§ leadership§ to§ establish§ and§ maintain§ proper§ communication,§ to§ increase§ the§
number§ of§ meetings,§ or§ even§ worse...additional§ training!!!§ In§ the§ meantime,§ the§
core§ issue§ is§ not§ identified§ and§ chances§ are§ that§ problems§ will§ arise§ later§ one.§
So§ what§ can§ we§ do?§ First,§ I§ believe§ that§ as§ managers§ we§ need§ to§ assess§
whether§ or§ not§ lack§ of§ communication§ was§ the§ real§ reason§ for§ failure.§ Talk§ to§
multiple§ staff§ members§ and§ asked§ then§ what§ could§ have§ been§ better.§ Find§ out§
whether§ it§ is§ an§ existing§ process§ that§ may§ be§ outdated,§ or§ lack§ of§ a§ process§
altogether.§ If§ the§ issue§ is§ identified§ and§ corrected,§ then§ the§ organization§ will§ be§
in§ a§ better§ place.§
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