Strategic Planning and Execution

This assignment explores the essential concepts of strategic planning. It delves into defining priority, timeframe, measurable performance indicators, and institutional considerations during plan development. The document emphasizes effective communication with stakeholders, feedback management, and the use of a balanced scorecard. Key Performance Indicators (KPIs) are discussed alongside challenges encountered during refinement processes. The assignment further examines the strategic plan's objectives, resource allocation, and monitoring mechanisms through management committees. It highlights the importance of aligning strategies with organizational goals, mission statements, environmental trends, and legal requirements. Finally, the document emphasizes continuous evaluation, documentation, and communication for successful strategic planning implementation.

Running head: DEVELOP AND IMPLEMENT STRATEGIC PLANS 1
Develop and Implement strategic Plans
Name:
Institution:

Develop and Implement Strategic Plans 2
Activity 1
The organization selected for this paper is the Commonwealth Bank of Australia. The
organization engages in providing various financial services which include business,
organizational banking, investment, superannuation, and broking, management of funds,
insurance, and retail services. In the Australian Security Exchange, the Commonwealth Bank is
ranked first and has other brands such as ASB Bank in New Zealand, Bank West,
Commonwealth Insurance, and Commsec Limited.
The Commonwealth Bank of Australia has various customers. There are the small
business and the private clients who are rendered retail banking services. Also, the clients for the
premium services are the global markets and the organizational customers. In simple words, the
personal and the business customers are majorly the individuals who receive services from the
Commonwealth Bank of Australia.
The Commonwealth bank of Australia works hard to ensure that the stakeholders’
interests are balanced. The organization has various stakeholders such as depositors who account
to 11.3 million. The organization has over 800000 shareholders who invest via the
superannuation funds. The domestic loan clients are viewed as the borrowers, and they are about
1.9 million. The minor stakeholders for the organization are the employees, suppliers, the small
business partners, and the taxpayers.
By looking at the success of the Commonwealth Bank of Australia, the organization is
viewed as the leading integrated service provider. The financial highlights such as the expenses
and the income show the measurement of the institutional success. The organization has

Develop and Implement Strategic Plans 3
dividends which are fully ranked and also has a high number of satisfied customers. Through
diversification, the organization receives sustainable returns.
The mission statement is viewed as the summary of values and aims of the
Commonwealth Bank. The organization’s mission statement is enhancing wealth and fulfilling
the needs of the customers.
The vision statement for the Commonwealth Bank shows the organization’s road map
which is to succeed to acquire individuals who are valued and passionate, ensure customers
receive service experiences as well as deliver high returns to the shareholders hence earn respect
and admiration from the nation.
The Commonwealth Bank objective is to continue being the overarching priority towards
providing the customer services hence be successful within the nation.
Activity 2a
The demographic factors impact the strategic plan for Commonwealth Bank of Australia
since it alters the property demand. The increasing population impacts the property markets
hence the organization needs to change the strategic plan and ensure that they can predict the
future and meet demands for housing. The global context factors impact the strategic plan since
the organization needs to respond to the global financial crisis to avoid the broad lay-offs. The
organization should overcome the economic pressures such as the pay cuts; minimize the
working hours as well as leaves for the employees. The political factors impact the strategic plan
since they cause the uncertainty to the bank investors. The social factors provide the organization
with opportunities to exercise and expand good business practices. Finally, the technological

Develop and Implement Strategic Plans 4
factors allow the Commonwealth Bank of Australia implement sustainable policies as well as
practices to enhance effectiveness and efficiency.
Activity 2b
Through my workplace experience, seeking information from an expert is associated with
various advantages and disadvantages. To begin with the advantages, few expenses are incurred.
Expert consultation minimizes time due to informality. Confidentiality is maintained in the
process. Finally, in case of dispute, the procedure is effective since the expert is used as evidence
in the court. On the other hand, the experts may make errors which can be avoided. The
informalities may cause disadvantages for the procedure. There lacks expert’s cross examination
of evidence cannot be tested. Finally, the expert may not determine solely since their
observations may not be applicable in all situations.
Activity 2c
In completing the SWOT analysis for the Commonwealth Bank of Australia, the
Strengths are that the organization has several brands such as the Bank west, the insurance
limited as well as the ASB bank. Also, the band expands in several countries and hence it is
ranked first in Australia. The bank offers various services as outlined to ensure the customers are
satisfied. The weaknesses are that the organization has experienced controversies hence it is
branded unhappy bank and also it views the impairment for loans as an expense. The
opportunities are the Commonwealth Bank can implement new technology to cater for the
activities. The organization can build better customer relationships as well as expend the
activities to other countries such as Asia. The threats are the profits and activities are impacted in
case of a weak economy hence stagnation occurs. Also, the bank is at risk of experiencing rates

Develop and Implement Strategic Plans 5
in foreign exchange, and there is also a stiff competition from the ANZ, Westpac, and National
Australian Bank.
In considering the PEST analysis, the organization needs to manage the current
legislation, government, and regulatory policies as well as the political changes which include
the elections. The economic trends such as market growth, trading cycles, the rates of inflation as
well as the local taxes should be put in consideration. The social factors impacting the
Commonwealth Bank of Australia are the consumer behaviors, culture, and opinions from the
media, ethical problems, and the brands’ images. Finally, the technological factors involve
innovation, incentives on technology, automation, telecommunications, and development of the
technology.
Activity 2d
A cooperative or joint venture refers to the commercial organization which is conducted
by two or more individuals to maintain their initial identity.
The requirements for risk assessment and cost benefit analysis in a joint venture are
cooperation, legal, future, models, principles, management mechanisms as well as concern to
reduce the risks.
Due diligence refers to the sensible steps which an individual follows to obtain
satisfaction of legal requirements.
Activity 2e
Three internal factors which affect a typical Australian organization are human factors
like employees, physical like equipment, and financial factors like funding and investments.

Develop and Implement Strategic Plans 6
Three external factors are political, legal, and technological factors.
In the context of a joint venture, the cost benefit analysis and risk assessments are
important since the help to assess new entries, share the risks and costs, and also help to look for
other resources.
The businesses should expect various potential findings regarding the analysis of a joint
venture as outlined below. They should expect to establish agreements, create right relationships,
choose the right joint partners, risks and benefits, and legal requirements.
Activity 3a
The enterprise architecture underpins the strategic plan by translating the strategy and the
vision of the organization. In simple words, it defines the enterprise strategies and
implementation.
The key questions which need to be considered in the formulation of strategic strategies
and objectives in the future are which is the current situation? What elements facilitated the
current condition? Which is the next step? What needs to be accomplished? Which challenges
should overcome? Which is the additional knowledge which needs to be considered?
Priority refers to the condition which is viewed as most important. Priority is measured
through various ways such as determining the areas of priority, identifying, developing criteria,
categorizing, application of selected criteria, and reassessing the priority areas.
The timeframe is viewed as the duration of time in which a planned activity occurs.

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Measurable performance indicators are defined as measurable values which show the
effectiveness of an enterprise regarding fulfilling the organizational objectives.
Activity 3b
There are different institutional considerations during calculation of the strategic plan to
receive comments and feedback such as the participation of stakeholders, institutional values,
personal values, and monitoring the changes.
A communication plan refers to the policies which are implemented to issue the
stakeholders with material which concerns a project. Stakeholders can manage feedback
effectively on the strategic plans if significant understanding is developed in all positions within
organizations. Also, a balanced scorecard should be implemented within the organization.
Activity 4a
The Key Performance Indicator refers to the estimated values which show how
organizations achieve the main goals and objectives. The KPI is used in the evaluation of success
within the organization. Examples of KPI are the help desk metrics, marketing, insurance and
sales metrics.
Key issues which may occur when making the refinements to plans are communications
and financial challenges, as well as those which concern databases. Refinements can be managed
effectively through receiving and reflecting on the feedback. For instance, time is properly
scheduled and organizations should be creative in their customer operations.
Activity 4b

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The strategic plan’s objectives are established by aligning the organization’s priorities,
goals, mission, and actions hence the resources are well allocated. The relevant areas to consider
are board, significant management areas, and the focus groups when drafting a strategic plan.
The management committee needs to receive information regarding the operations and
annual plans to review the progress.
The committee will want to flag or change circumstances if based on the strategic
planning there is need to change the following products which are the trends and the
environmental issues, the needs to survey, align with the mission statement, meet the
organizational general objectives, and outline strategies. Finally, if there is need to ensure the
organization is protected from the liability and legal challenges and help the board meet the
fiduciary duties.
Ways of improving the stategic plan are: budging should not be related to strategic
planning, focus on the clients, allocate the resources automatically, make effective decisions, and
solve issues effectively.
Interview
Through checking at the foundation of the organization’s objectives, an individual can
check if the mission and the vision statements are supported. It is helpful since the organization
creates tactics and strategies for formulated objectives.
The stakeholders provide support if there is communication if they are engaged actively
in the processes, and when they need to ensure that individuals are fit for the strategic plan.
The experts in strategic planning offer advice regarding the strategies.

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Due diligence helps an individual obtain satisfaction on legal requirements.
Through evaluation of the action plans, research is documented in the organization.
Recording the strategic plan for the future helps the individuals create a picture and
provide evidence which can be referred regarding the operations.
Information concerning a strategic plan is circulated through a memorandum which
outlines the advantages and steps.
It is important to communicate the details of the plan to ensure every personnel is
informed hence it is useful since amendments can be done in time.
Help desk metrics, marketing, insurance and sales metrics are the key performance
indicators which are used to investigate a strategic plan.
Reviewing a strategic plan at agreed milestones ensures that the organization is moving
on the right path and after implementation, it helps in evaluating the performance.
The components of a strategic plan are vision, objectives, mission, action plan, and
strategies.