Monitoring and Evaluation System for Strategic Plan
Added on 2019-09-30
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Running Head: Strategic management CW 2Strategic management -CW 2
2Strategic management CW 2Table of Contents1. A strategic analysis of organisational data and information that supports decision making.3An indication of business level strategy and corporate strategy.....................................3Environmental analysis...................................................................................................5Resources and competence analysis................................................................................5Reasoned argument for the strategic direction the organisation should consider...........62. Develop a strategy plan based on your analysis in question 1, ensuring you include the resource implications. The plan should include as a minimum the mission, strategic direction,objectives and Key Performance Indicators (KPIs)...................................................................7Mission............................................................................................................................7Strategic direction...........................................................................................................7Objectives........................................................................................................................9Key Performance Indicators (KPIs)..............................................................................103. Evaluate the place of strategic control through the development of a strategy implementation plan.................................................................................................................11Communication methods to internal and external stakeholders...................................11Appropriate monitoring and evaluation systems for the strategy plan.........................12References:...............................................................................................................................15
3Strategic management CW 21. A strategic analysis of organisational data and information that supports decision makingAn indication of business level strategy and corporate strategy Business-level strategy:The business strategy could be defined as the set or course of actions which help the entrepreneurs in achieving the present business objectives. The master plan which is planned and used by the management of the business organizations to achieve competitive analysis and desired position in the market is the business strategy. In the opinion of Smith (2018), thebusiness level strategies include the decisions which are directed towards the creation, maintenance and use of the competitive advantages of the business organizations. The product line, competition and target market of the companies are needed to get evaluated and on the basis of the findings, a business organization identifies the position of the competitive advantages [ CITATION Sco18 \l 1033 ]. According to Garcia (2018), the business-level strategy emphasises on the ways of attaining and satisfying the customers and offering and delivering the goods and services to the customers to meet the need of the customers and to enhance the operating profits of the business [ CITATION Mad181 \l 1033 ].According to information obtained from the website of Business Jargons (2018), the cost leadership strategy is that business level strategy which helps the business organizations to win over the customers with the support of aggressive market profits and pricing and with thehelp of increased efficiencies. It is the way of increasing market share by offering the deliverables at lower prices and increasing the profits by decreasing the costs and charging the customers at industry-average prices [ CITATION Bus181 \l 1033 ]. On the other hand, in
4Strategic management CW 2the opinion of Saint-Leger (2017), the unique features of the deliverables have to be depicted to the customers and this will help to achieve the competitive advantages. This is the main theme of the differentiation strategy where the companies are responsive towards achieving the competitive advantages by providing unique features or adding some unique values to the customers [ CITATION Ran174 \l 1033 ]. These two are the main strategies for ensuring the achievement of competitive advantages Corporate level strategy: The corporate level strategy is the strategy which identifies and determines the success of the business from a higher level. It is mainly focused on achieving a mix of units of business which would allow the business organizations to become successful as a whole. The corporate level strategy is mainly concerned with the improvement in the business efficiencies and company portfolio. The relationship is built between the different business units in case of the corporate level strategy where the business units are allowed to exchange and share their resources to avoid duplication in their efforts. The efficiencies could be improved with the help of vertical integration. This is the main theme of improving efficiencies being one of the major lookouts of the corporate level strategy. The diversity of the corporate portfolio of the businesses is another major lookout of the corporate level strategy of the business [ CITATION Mad181 \l 1033 ]. According to Leonard (2018), the corporate level strategy is mainly concerned with the diversification when the business could identify the opportunities in the industrial sector outside to its own industry. The main aim of the corporate level strategy is to ensure higher efficiencies, competitive advantages, and profitability [ CITATION Kim187 \l 1033 ]. Diversification is an important corporate strategy of corporate-level strategy. It helps the business organizations to enter any new any new market or any new industry or creating something new in the new market. It is one of theimportant strategies among the four major growth strategies [ CITATION Hit1810 \l 1033 ].
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