Discussion_Week4_BUS475_2023_post2

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. Apple also uses

vertical integration as a corporate strategy for its company. d 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

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 The lack of vision and goal that needs to be meet are outdated can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

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

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

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

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.

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.

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

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,

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.

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