Week 9 Discussion- Capstone
Cynthia60
10 days ago
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files (2)Week9DiscussionInstructions-Capstone.docx
Week9LearningResources-Capstone.docx
Week9DiscussionInstructions-Capstone.docx
Week 9 Discussion
Capstone
Strategy Validation Tools
Imagine a friend or family member had an idea for a business and asked you for guidance based on the knowledge and skills you acquired through your MBA program. Perhaps they simply wanted to take you to lunch one day to inquire about your thoughts, or they might have wanted you to participate in the business in either an employer-to-employee or a partnership relationship. In either scenario, how much more confidence would you have in their idea if they could easily answer questions about the industry, competition, target customers, and so on? If they did not know where to begin when answering these questions, you might point them toward the validation tools that are covered this week. It is probably safe to say that you would not be as willing to get involved. This week, you will consider a scenario from your experience and explore how validation tools could have played a role in that scenario.
To prepare for this Discussion:
· Consider a scenario from your personal or professional experience in which the outcome of the scenario could have been vastly improved if strategic planning tools had been incorporated in some fashion.
· Review this week’s Learning Resources and consider which of the validation tools (i.e., strategy map, PEST analysis, five forces analysis, key success factor analysis, stakeholder analysis) would be the best choice to implement in your scenario to achieve a better outcome.
Post a synthesis of the results of a validation tools analysis related to personal or professional experience, to include the following:
· Describe a scenario from your personal or professional experience that could have been improved using strategic planning.
· Propose which validation tool would support the best results if it were applied to the scenario. Provide a rationale, including specific details.
Week9LearningResources-Capstone.docx
Week 9 Learning Resources
Capstone
Strategic Planning (Strategy Map, P.E.S.T. Analysis, Five Forces Analysis)
Leadership teams need to be able to set the direction for their organizations, which can include setting the priorities, determining how resources are allocated, ensuring that goals are getting met, and so on. To assist with this process, managers and leaders can rely on strategic planning tools, such as strategy maps, P.E.S.T. analysis, and Porter’s Five Forces analysis. Using these resources, you will examine these tools and consider their role in an organization’s strategy.
· Athuraliya, A. (2021, September 24). What is a strategy map? A comprehensive guide with templatesLinks to an external site. . Creately . https://creately.com/blog/diagrams/what-is-a-strategy-map/
· Emerald Works Limited. (n.d.). Porter’s five forces: Understanding competitive forces to maximize profitability Download Porter’s five forces: Understanding competitive forces to maximize profitability. MindTools. https://www.mindtools.com/community/pages/article/newTMC_08.php Porter's Five Forces: Understanding Competitive Forces to Maximize Profitability by MindTools.com. Copyright 2021 by Mind Tools Ltd. Reprinted by permission of Mind Tools Ltd. via the Copyright Clearance Center. Note: Please disregard any reference to an embedded video in this reading.
· Emerald Works Limited. (n.d.). PEST analysis: Identifying “big picture” opportunities and threats Download PEST analysis: Identifying “big picture” opportunities and threats. MindTools. https://www.mindtools.com/community/pages/article/newTMC_09.php?route=pages/article/newTMC_09.php PEST Analysis: Identifying “Big Picture” Opportunities and Threats by MindTools.com. Copyright 2021 by Mind Tools Ltd. Reprinted by permission of Mind Tools Ltd. via the Copyright Clearance Center. Note: Please disregard any reference to an embedded video in this reading.
· Lumen Learning. (n.d.). Common frameworks for evaluating the business environmentLinks to an external site. . In Principles of management . https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/common-frameworks-for-evaluating-the-business-environment/
Get The Strategy Right (Key Success Factor Analysis, Stakeholder Analysis)
When a strategy is developed, it can act as a guide for an organization. It can map out the vision and direction for where that organization wants to go moving forward. When everyone in an organization, from top-level leadership to entry-level employees, has clear goals and can follow a clear mission, the organization can function better as a cohesive unit to achieve its goals. Through these resources, you will explore how to choose a strategy that will increase the likelihood of success.
· Emerald Works Limited. (n.d.). Critical success factors: Daniel and Rockart’s guide to meeting strategic goals Download Critical success factors: Daniel and Rockart’s guide to meeting strategic goals. MindTools. https://www.mindtools.com/community/pages/article/newLDR_80.php Critical Success Factors: Daniel and Rockart’s Guide to Meeting Strategic Goals by MindTools.com. Copyright 2021 by Mind Tools Ltd. Reprinted by permission of Mind Tools Ltd. via the Copyright Clearance Center.
· Emerald Works Limited. (n.d.). Stakeholder analysis: Winning support for your projects Download Stakeholder analysis: Winning support for your projects. MindTools. https://www.mindtools.com/community/pages/article/newPPM_07.php Stakeholder Analysis: Winning Support for Your Projects by MindTools.com. Copyright 2021 by Mind Tools Ltd. Reprinted by permission of Mind Tools Ltd. via the Copyright Clearance Center. Note: Please disregard any reference to an embedded video in this reading.
· GreggU. (2018, June 1). Key success factors Links to an external site. [Video]. YouTube. https://www.youtube.com/watch?v=LxJJ7Mw7rmQ Note: The approximate length of this media piece is 2 minutes.
· McLeod, L. E. (2020, December 1). 3 mistakes that stymie corporate purpose initiatives . Harvard Business Review Digital Articles , 2–4. http://hbr.org
· ProductPlan. (2020, January 13). What is a stakeholder analysis? – Leading successful projects Links to an external site. [Video]. YouTube. https://www.youtube.com/watch?v=PXCo92Iag3g
Strategy Designing and Validating Tactics (Potential Strategic Pathways)
When validating a strategy, managers might consider the semantics of the strategy. They may ask about what the strategy says, how it relates to other plans, and how it connects to business outcomes and goals. Through these resources, you will examine tactics for designing and validating strategies.
· Githens, G. (2011, March 29). Validation: How to get strategy rightLinks to an external site. . Leading Strategic Initiatives . https://leadingstrategicinitiatives.com/2011/03/29/validation-how-to-get-strategy-right/
· Gray, D. (2021, April 29). What makes successful frameworks rise above the rest . MIT Sloan Management Review . http://hbr.org
