How organizations develop and manage strategies

Question

Assignment:

Strategic Plan

Instructions:

Develop an understanding of how organizations develop and manage strategies to establish, safeguard and sustain its position in a competitive market.

You will perform a strategic plan on a company, from the list provided below.

Interactive Intelligence Group (NASDAQ: ININ)

Liberty Sirius XM Group (NASDAQ: LSXMA)

Kinder Morgan (NYSE: KMI)

HMS Holdings (NASDAQ: HMSY)

Ancestry.com (NASDAQ: ACOM)

IPG Photonics (NASDAQ: IPGP)

Nvidia (NASDAQ: NVDA)

Regions Financial Group (NYSE: RF)

Shake Shack (NYSE: SHAK)

Strategic Management (2182)

Phase 1-Strategic Plan (Group Project)

Management System

In completing the assignment, you will perform research on the company provided, answer the questions below in narrative form and follow the steps provided below.

Step 1: Preparation for the Assignment

You will read and do the following:

Third person writing is required. Third person means that there are no words such as "I, me, my, we, or us" (first person writing), nor is there use of "you or your" (second person writing).

Contractions are not used in business writing, so you are NOT to use contraction in writing this assignment.

You are responsible for APA only for in­text citations and a reference list. Cite the page or paragraph number.

You may use the resources from the course and from your research. You may not use books and page and paragraph numbers must be used. Read all course material and perform independent research to provide a comprehensive strategic plan.

Step 2: How to Set Up the Plan

Create a double­spaced, 12­point font Word or Rich Text Format (RTF) document. The final product will be no more than 20 pages in length excluding the title page and reference page. Write clearly and concisely.

Follow this format for the comprehensive strategic plan:

Title page with title, your name, the course, the instructor's name;

introduction

vision and mission

background organization

industry analysis

competitive analysis

financial analysis ­ not copied data from internet

technique analysis ­ IFE, EFE, CPM, BCG matrix, Grand Strategy Matrix, and QSPM

alternative strategy generation

SWOT analysis

strategy and prioritization selection

action plan for implementation

evaluative plan

Reference page

Step 3: Create an introductory paragraph.

Step 4: Develop the plan:

Identify strategies;

Discuss strategies used at corporate, business and function levels using the concepts learned in the course;

Recommend specific strategies and long­term objectives;

Recommend procedures for strategy review and evaluation;

Use frameworks and tools discussed throughout the course.

Step 5: Strategy Recommendations

Identify strategy recommendations using the following format for the formulation of strategies.

View Strategy Content Guidelines.

Goal (The desired outcomes to be achieved)

Objective (Measurable milestone toward accomplishing the Goal)

Strategy (The approach used to achieve the Goal)

Tactic (A specific activity undertaken to implement the Strategy)

Review this resource to differentiate between strategic planning and operational planning: strategy versus tactics