Chat with us, powered by LiveChat DUE SAA MBILI USIKU SHARP ZERO PLAGIARISM Write a 1,050- to 1,400-word strategic objectives summa | Max paper
  

 

DUE SAA MBILI USIKU SHARP ZERO PLAGIARISM 

Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.

Identify key trends, assumptions, and risks in the context of your final business model.

Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your business and the outcomes of your SWOT analysis and supply chain analysis.

Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:

  • Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as: (choose 3 areas)
    • Market share
    • Revenues and costs
    • Profitability
    • Competitive position
  • Customer Value Perspective, which includes strategic objectives in areas such as: (choose 3 areas)
    • Customer retention or turnover
    • Customer satisfaction
    • Customer value
  • Process or Internal Operations Perspective, which includes strategic objectives in areas such as: (choose 3 areas)
    • Measure of process performance
    • Productivity or productivity improvement
    • Operations metrics
    • Impact of change on the organization
  • Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as: (choose 3 areas)
    • Employee satisfaction
    • Employee turnover or retention
    • Level of organizational capability
    • Nature of organizational culture or climate
    • Technological innovation

Evaluate potential alternatives to the issues and/or opportunities identified in the SWOT Analysis paper and table you completed in Week 3.

Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions that includes the following:

  • Identify potential risks and mitigation plans
  • Analyze a stakeholder and include mitigation and contingency strategies.
  • Incorporate ethical implications

Develop a metric and target for each strategic objective using a balanced scorecard format.

  • Example: a strategic objective in the shareholder or financial perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, “The percentage of increase in market share.” The target is the specific number to be achieved in a particular time period. The target for the metric of “Increase market share” could be “Increase market share by 2% for each of the next 3 years” of an increase of 2% per year for 3 years.)

Outline a brief communication plan discussing how you will communicate the company’s strategic objectives that includes the following:

  • Define the purpose.
  • Define the audience.
  • Identify the channel(s) of communication and why you selected that channel.

Format paper consistent with APA guidelines.

 

Running Head: STRATEGIC PLAN 1

STRATEGIC PLAN 2


Strategic Plan: New Product

Name

Course

Tutor

Date

Introduction

Samsung has been in the electronic business for over 70 years, and it is at the bleeding edge of advancement. The business vision is to create imaginative innovations and make effective processes that would achieve new markets while advancing individuals’ life and remaining the digital pioneer and leader. They are one of most improved and decorated brands in the electronic industry. The disclosures, creations, and achievement items have helped the digital revolution turn into a piece of history. With a specific aim to keep on helping individuals to have better lives, Samsung has solid qualities and high moral and ethical standards that surround their work each day.

Samsung makes unrivaled items and administrations that have helped us improve as a worldwide society. They have each and every one of the assets accessible for the brightest ability that has been scouted from everywhere throughout the world to be the best in their industry. In order to remain the leaders of innovation and advancement, the transformation must continue developing so as to stay aware of the requests of the customers. The way toward making a breakthrough in the market is to have values in the administration for which clients will be able to afford (Lee, 2006).

New product

Since the global world is now becoming fanatical with “eco-friendliness”, Samsung can also be a responsible business leader in that area too. The new division will be committed to preaching the importance of going green for the company. Moreover, environmental protection should be a top significance for everyone in the company starting from the staff, employees, customers and stakeholders. Therefore, it is important for the company to have a body dedicated to making sure the company produces zero carbon footprint products.

One major product to be produced by this division is solar panels that can help boost renewable sources worldwide. This would enable the world to in reducing the level of greenhouse gases in the sky and hence reduce global warming. The division will come up with a proper design of the solar panel with a technological innovation so that it will compete fairly with the existing products from other companies. Moreover, the product should be consumer relevant and embrace the technology of light and not the heat from the sun. Moreover, the solar panel will be designed for use in vehicles instead of using car batteries. Finally, the proposed solar panels should be able to apply for both domestic and commercial usage (Michell, 2010).

Mission statement

The mission statement of the new Samsung division is aimed towards the overall goal of the company accomplishments as well as what is offered to the customers. The mission statement of the division is “we will achieve greater results in delivering the environmentally friendly products through the passionate, dynamic and innovative organization.” As the company keeps on developing and the interest for buyer needs and necessities increment, the mission statement may adjust to the present environment that Samsung is attempting to fulfill.

Customer Needs and Competitive Advantage

The new solar panel will help with all client needs when they buy an electric vehicle, domestic and also commercial usage. Numerous electric vehicles today are stopped and charged at home while others utilize open charging stations while they are out running errands. The charging stations are convenient for clients when their battery starts to run low. Using the solar panel it will charge the electric vehicle without the need to utilize a charging station, and will spare the client from the need to locate an open charging station. The solar panel panels will also spare the customer’s cash at last since they won’t need to pay for charging the vehicle at the station. As of now, the electric vehicles are the module electric vehicle or the module cross breed electric vehicle. Moreover, the solar panels will be user-friendly, utilizing renewable light and solar energy. Both domestic and commercial usage would reduce the amount of carbon dioxide produced by other sources of energy such as fossil fuels. Moreover, the product will have a competitive advantage over its generic competitors since it will have the present technology and also its dynamic use including use in motor vehicles (Simerson, 2011).

Vision and Business Model

The vision for the new company division will be designed so as to fit each and every model of the electric car. Also, it will be designed to have enough wattage for both commercial and domestic uses. Moreover, the initial design on the new solar panel will be behind spoiler attachment that is available for purchase as well as the installation of new electric vehicles. In order to attract more customers for the solar panel, the division will promote the buyers with a three-year warranty to act as a mark of the quality of the product. Moreover, the pricing of the product will ensure that consumers are getting the value of their money and hence the company will ensure the product is of high quality. The business model will be;

Processes and systems

The division will provide annual training for the employees and other stakeholders on the importance of going green.

The division should adhere to customer services in all the branches of the company worldwide.

The company will create a user friendly solar panel that can be operated without necessarily using a manufacturing manual.

The product design will be renewed with every innovative technology so that competition would not be easier for the other competitors.

The updated process as well as system will make job easier.

Resources

The division will have resources to provide updated advertisements

Resources will utilize technology so as to provide outstanding customer service.

Resources will enable automatic rapid processing of the payments.

The division will not maximize resources for the sake of competing in the market.

TV commercials will be produced so as to relate to the demographic population

Goals

The product differentiation from that of competitors by inventing new technologies for the product.

The division should offer lower prices and find a way to compare prices with the competitors.

Customers will be encouraged by providing feedback about the produced products.

The division will prevent new rivalries from coming into the market and dominate the market.

The solar panel will be more convenient for the customers.

Culture

The division will maintain respect, support as well as opportunity for employees.

Will not be very diversity

Each employee will be provided with equal opportunities

Culture may reject an hostile strategy

Customers are happy when companies show diversity

Technology

Will be used to come up with the best design for the solar panel

The product should be updated with the latest technology

Automation will be provided so as to cut down repair time

Competitors may have the ability to move quicker with technology.

Always providing the latest and greatest.

How the vision, mission, and value of the new division align with the company’s mission and vision.

Mission, vision, and values all work as one. The company’s prosperity depends on these three variables being in a state of harmony with each other and should be durable. Therefore, the three factors for the division should be in line with those of the company to ensure its success. All of them are oriented to creating enabling and innovative products that can compete fairly in the market. Given that the division has a reasonable mission and vision explanation will permit them to develop and keep up a positive notoriety in the groups that they work together in.

How vision, mission, and values guide the division’s strategic direction

The mission is division’s purpose behind presence. It regularly mirrors the qualities and convictions of top supervisors in the division. A mission statement is the expansive meaning of the authoritative mission. Vision, mission and values motivates workers and gives a concentration and course to setting of higher level targets. It ought to guide workers in settling on choices and build up what the division does. Mission statement is significant for the division to flourish and develop (Olsen, 2013).

Guiding principles

The mission statement, vision, and corporate values are essential pieces in the objective of accomplishing the overall strategy. Regardless of the division’s position, employees ought to know or have some thought of the general heading that the division is working towards. The Samsung employees will realize what the mission, vision, guidelines, and values are very vital in the success of the divisions. The administration will stretch their significance consistently. If one worker do not abide by the ethical code of conduct and flop in one area of work, then there is a shot that the division will not see the vital goals accomplished. Every part should be considered as a guide, and when taken after, Samsung will effectively achieve its last goal.

References

Lee, D. (2006). Samsung Electronics: The Global Inc. Seoul, Korea: YSM, Inc..

Michell, T. (2010). Samsung Electronics and the struggle for leadership of the electronics industry. Singapore: Wiley.

Olsen, E. (2013).Strategic planning for dummies. Hoboken, N.J: John Wiley & Sons.

Simerson, B. K. (2011). Strategic planning: A practical guide to strategy formulation and execution. Santa Barbara, Calif: Praeger.

Running Head: STRATEGIC PLAN PART 2: SWOT ANALYSIS 1

STRATEGIC PLAN PART 2: SWOT ANALYSIS 2

Strategic Plan Part 2: SWOT Analysis Paper

XXXXXXXX

BUS / 475

XXXXXXXX

XXXXXXXXX

Among the companies listed, as a public traded company is the Samsung. Since its incorporation, Samsung has remained one of the most successful in the technology industry and has remained a leader through innovation.

Innovation remains a company priority as shown by its new products introduced to meet the ever-changing demands of its customers. One of Samsung’s strategies is the development of a new division to handle its aim for ‘green technology’. This section, which is actually a new model,aims to reshape the organization and ensure satisfaction of the stakeholders by producing solar panels. A strategic plan is needed for this new division and is mainly reliable on the data collected, and will conform to the main strategic plan for Samsung. This paper evaluates different aspects of the new section to understand the internal and external environment as well as a SWOT analysis for the SamsungCompany as a whole.

Internal and external environment

As mentioned above, Samsung has maintained its lead and competitive advantage in the different fields in the electronic industry through its innovative agenda and a grounded foundation of management. The company was able to surpass its projections and targets over the years, showing the advantage of resilience and strength in the industry allowing it to expand not only domestically but in the international markets as well.

Samsung has developed a reputation for pioneeringadvanced technology on electronics produced in the companyas well as revolutionizing the marketing strategies for the industry and growing distribution of the informationtechnology together with other products that come with enhanced security. The company is also known for its affordable prices and their discount programs.

This paper therefore focuses on discussing the internal and external environments of the company and their effects to the company as well as the industry as a whole. It will review different sources, databases as well as reports concerning Samsung that keep the company in the forefront. It also incorporates a SWOT analysis table that gives an inner view of the organization.

Both the internal and external environment defines every company. There are different external environment ranging from social, legal as well as technological influences that can affect the company. Samsung has seen different economic turmoil over decades of existence andhas experienced different political interferences that affected its business. The Electronic and Technology industry as a whole has also been affected by these factors meaning that every player must have suffered or gained in a way or the other (Michell, 2010). Samsung has remained aware of these factors and was able to employ different strategies as well as changes to ensure that its products remain the best choice forcustomers across different destinations.

Samsung and its new section will also be subjected to effects of the general environment toinclude both the economic factors as well as the political factors. Economic factors and the financial environment across the world has in different ways affected the situations of the customers and their willingness and ability to purchase Samsung products from time to time. These economic factors include issues of inflations that have affected different countries as well as economic depression situations that occur in one time or another. The company has recorded losses in existing areas and divisions at a moment that forced it to decrease its labor force through retrenchment and layoffs. The number of workers has drastically fallen over the years despite the increase in its sales through aggressive customer programs.

An additional economic fact is likely to exert pressure on the new division would be the intrusion of the government on issues related with the regulation on renewable sources of power such as increased tariff charges, as applicable in different countries. This will be in addition to economic requirements applicable to foreign products that have been instituted by each international market. The consumers from different parts of the world may or may not have access to the new products due to the state of economy in their particular countries with the following concerns: Are there economic sanctions? Is the country’s economy behaving poorly?

Political influences have also significantly affected Samsung and the technological industryin general. Political environment in this case, has majorly dependent on the government, and the powerful decision makers who have created different laws and regulations concerning the industry (Robbins, Bergman, Stagg and Coulter, 2014). Samsung had to deal with international sanctions and rejections among other devastating issues. The political class in foreign countries tends to intrude in the normal control of the technological entrance that sometimes include increased competition as more and more investors introduce their business.

Samsung resources, capabilities, and core competencies

Samsung’s asset includes an efficient management team, knowledgeable workforce and innovative employees with a standardized procedural method. It has also created a strong industrial reputation and has been a pioneer in several industrial innovations includingwearable technologies. Samsung has also created a system to identify and communicate with its target market. All these will be available to the new organization division producing solar panels.

Samsung recognizes importance of the value chain and operations improvement to increase the company’s bottom-line. Best business practices and efficient management can reduce loss and wastage to control production costs. The reduction of wastages that include time and other important resources will help the company to spend little in maintenance and easing the operations (Australia, 2015).

SWOT analysis

Strengths

Weakness

· Established brand name for the parent company

· Establish market reach

· Identifiable customer base for the solar panels

· Strong strategic plan for the division and alignment with that of the whole organization

· Improved market strategy for the technological products

· Improved research and design for the company

· Strong industrial and plant capabilities for the company.

· Strong distribution channel and logistical strategy

· Available capital and other resources

· Less capability in handling some sections of the competitions

· Increase competition from new economies such as China

· Use of the inferior product as compared to the competitors

· Dependability concern from the customers on the new products.

Opportunities

Threats

· New markets in the developing countries

· New product flourishing in the market

· Including new technology in the product

· Selling the product through the online platform

· Expected new markets for every new update improvement

· Dominant technologies in the industry poses a great threat

· Increasing market command from rival companies

· Threat from other consumer product in the world.

References

Australia, C. L. (2015). Organization Theory and Design. Cincinnati OH: Cengage Learning US.

Krishnamacharyulu, C. S. G., &Ramakrishnan, L. (2012). Rural marketing: Text and cases. New Delhi: Pearson Education.

Michell, T. (2010). Samsung Electronics and the struggle for leadership of the electronics industry. Singapore: Wiley.

Robbins, S., Bergman, R., Stagg, I., & Coulter, M. (2014). Management VS. Sydney: Pearson Education Australia.

Samson, D., & Daft, R. L. (2011). Management. South Melbourne, Vic: Cengage Learning.

Thomson, N. (2009). Strategy in Context. Oxford: Wiley-Blackwell.

error: Content is protected !!