Strategic Plan for Newnham Technologies: Development & Implementation

This document presents a strategic plan for Newnham Technologies, an IT service provider for SMEs in Australia. It outlines the company's mission, vision, and organizational values, followed by strategic objectives and strategies across key areas such as finance, customers, programs, people, and compliance. The plan incorporates an environmental analysis using PEST and SWOT frameworks to identify opportunities and threats. It also explores cooperative ventures and details the implementation process, including monitoring and evaluation strategies. The assessment of the strategic plan emphasizes regular evaluation and adaptation to ensure the achievement of strategic objectives. Desklib provides access to this document and a wealth of other solved assignments to support students in their studies.

Topic Name- Development and implement strategic plan- Newnham Technologies
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Table of Contents
Introduction.................................................................................................................................................3
Mission and Vision.......................................................................................................................................3
Mission....................................................................................................................................................3
Vision.......................................................................................................................................................3
Organizational values..............................................................................................................................3
Strategic objectives and strategies..............................................................................................................4
Finance....................................................................................................................................................4
Customers...............................................................................................................................................5
Programs.................................................................................................................................................5
People......................................................................................................................................................6
Compliance..............................................................................................................................................7
Information Required..................................................................................................................................7
Environmental Analysis...............................................................................................................................8
PEST analysis............................................................................................................................................8
SWOT Analysis.........................................................................................................................................9
Cooperative venture..................................................................................................................................10
Implementation of the plan.......................................................................................................................10
Assessment of strategic plan.....................................................................................................................11
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Introduction
Newnham Technologies, a new entrant in IT sector to provide service to the SME industries
since 2007 in Australia, has to review their strategic plan in order to make strong foothold in
the Australian and other markets.
The company has set vision and mission with corporate values and goals which is to be revised
in order to make the new strategic plan implemented with viability for long run and ensured
sustainability.
Mission and Vision
Mission
The present mission statement is emphasizing on creation and provision of technology solution
for forward thinking organization. To excel in the business, the company should think of
changing its mission statement to ensure extension of their professional service to such level
for the clients which can assure latest mode of technologies with best possible solution.
Vision
The present vision is highlighting the role of the organization as expert and resource center for
clientele base of SME industries. The same may be revised as the market leader with expertise
to provide high end support with the technological background and efficient human resource.
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Organizational values
The organizational values of the company had emphasized in different areas including prudence
in their offered service through professional deliverance with honesty and integrity to meet the
needs of the clients. This area should highlight core value of introducing efficient and able
workmanship to meet the need of the clients.
Strategic objectives and strategies
Strategic objectives are mainly set with different stakeholders to find their need or demand
from the organization and strategies are fixed to meet those expectations with specific time
frame and accountability of the human resource.
Finance
Strategic objective- Strategic objectives are to ensure rich cash flow with strong working capital
positions. This can be assured with ensured increment of revenue and proper utilization of fund
with justification and justification of ROI.
Strategies- suggested strategies to increase revenue are to plan turnover for the fiscal year with
steady growth by finding out the unexplored avenues like E-Commerce and incremental
clientele base. This can be ensured through proper budgeting with practical and viable
approach with full thrust to attain that budgeted revenue level. For healthy working capital, it is
to be ensured to have close monitoring on the current assets and current liabilities which can
confirm positive variance of current assets over current liabilities. Healthy cash flow can be
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ensured by proper supervision of income and expenditure with prioritization of expenses. ROI
justification can only be ensured through profit generation and this can only be justified as per
the ratio of profit / cost of capital % and this should be positive to ensure healthy financial
position of the organization.
Key Performance Indicator- for Revenue, working capital, ROI and cash flow- Enhanced steady
monitoring of financial report with proper analysis by taking the help of financial ratios.
Time frame and priority - As per the target set by the corporate refers to goals fixed.
Accountability - Accounts and finance department
Resources- Sales and service segment of the organization.
Customers
Strategic Objective- Strategic objective is to create loyal customer base by creation of new
customers and retention of old customer base.
Strategies- Introduction of new products, development of existing products and make the
customers aware of the new and present product range and services offered.
Key Performance Indicator- Increment of revenue with segment wise analysis for existing and
newly introduced services and products.
Time frame and priority - Suggested to be fixed as monthly increment of revenue for existing
services and products as well as steady growth for new products and services.
Accountability - Sales and Marketing department
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Resources- R and D department
Programs
Strategic objectives- To ensure Product management to comply with the requirement of web
based strategic planning sites with supporting products with the highest level of efficiency.
Operational management should ensure development and maintenance of virtual office with
efficient overhead management. Technological management is to ensure continuous
development of latest innovation. Community involvement is to ensure viability of net profit
contribution and staff time by 10%. Customer relationship management is to justify the product
and service to the clientele base with utmost efficacy.
Strategies- Product, operational, technological and customer management is to understand the
need of the customers and meet them with the development through R and D.
Key Performance indicator- Identification of market demand as per marketing survey and
compliance of the same
Time frame and priority- As fixed by the marketing team with priority ranking
Accountability - R and D department with close coordination with marketing department
People
Strategic objective- Enhancement of Human Resource through training, expertise and
remunerate them as per their accomplishment
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Strategies- To train the existing human resource, to hire people of expertise of the field and
proper remuneration structure with acknowledgment of good work through appreciation in
monetary terms including innovative ideas
Key Performance Indicator- To ensure set benchmark for human resources and proper
monitoring to judge the accomplishment level as per set target.
Time frame and priority- A continuous process with regular appraisal by evaluating
performance of the human resources
Accountability - Human resource department
Compliance
Strategic objective – To ensure and legal and governmental compliance required for running
business of the statute.
Strategies- To ensure adherence to legal compliance through strict monitoring of statutory
requirements as per government and other statutory authorities
Key performance indicator- To highlight new introduction of legislation and to comply with
standing statutory requirements
Time frame and priority- Regular process with high priority to run smooth business
Accountability - Legal and Admin department
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Information Required
Strategy Information Required
Finance Analysis of financial information and good
application of management accounting
including ratio analysis
Customer Strong market research to understand the
trend of the market and the requirement of
the customers
Program Present ability of R and D department and the
introduction of new objectives to meet the
goal of the market
people Good HR policy to ensure proper hiring system
of eligible candidates and remunerate as per
market rate with good appraisal system to
ensure retention and promotion of innovation
compliance Regular update to understand the change of
the government policy and statutory
requirements and comply with those.
Environmental Analysis
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PEST analysis
Political- political position of the industry is good so far area of operation is concerned. The
political stability of the countries where the company is operative is stable.
Economic- Economic condition of the countries the company promotes the scope of growth for
the industry to ensure sustainability.
Social- Social environment is stable in the operating countries with same nature of status.
Technological- Regular upgrading of knowledge base through sharing can enhance the scope of
sustainability of the business as this industry is changing fast.
SWOT Analysis
Internal environment
Strength
 Strong technological knowledge
 Network, owned patent of products with intellectual property
 User friendly products
Weakness
 Market assessment
 Lack of financial introduction for new markets
 Conventional concept of strategic alliance
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External Environment
Opportunities
 Global market
 New area of operation - E commerce
Threat
 Financial downfall in local and global market
 Stiff competition
Cooperative venture
Strategies can be made to enter new countries with the mode of franchisee to ensure strategic
alliance. This can give good result to ensure long-term sustainability for the company. So far cost
benefit analysis is concerned, costs will be in the form providing technological knowhow and
support and benefits will be through sharing of revenue. As per cost benefit analysis, this is
viable for countries like India and other Asian countries with customized services to justify the
cost benefit ratio Something is reasonably practicable unless its costs are grossly
disproportionate to the benefits. Put simply if;
Where DF is the ‘disproportion factor’ then the measure can be considered not worth doing for the risk
reduction achieved. DFs that may be considered gross vary from upwards of 1 depending on a number of
factors including the magnitude of the consequences and the frequency of realizing those consequences,
i.e. the greater the risk, the greater the DF.
Implementation of the plan
Strategies Monitoring Evaluation Process
Finance Regular by Board To ensure Working Capital,
Revenue, and Cash Flow
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proves worth for the company
Customer Regular by Board Quarterly meeting with
marketing, sales and
customer relations
management
Program Regular by Board Research and Development
process with scrutiny and
monitoring
people Regular by Board HRD to be monitored in
respect of regular appraisal
compliance Regular by Board Government and statutory
compliance is to be ensured
through compliance report.
Assessment of strategic plan
Strategic plan is to be assessed on regular basis with specific time frame. First priority is to
ensure accomplishment of strategic objectives through implementation of strategies and
execution of plans. Loopholes are to be identified with critical analysis and Plan B or C is to be
ready to achieve objective. For this purpose, regular assessment process is to be followed with
periodical time frame as follows:
Strategy Time Frame of Assessment
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Finance Quarterly
Customer Monthly
Programs Monthly
People Half-yearly
Compliance Quarterly
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