Reference no: EM131258985 , Length: word count:4500

Learning outcome

Understand the process of strategic planning

1.1 Assess how missions, visions, objectives, goals, core competencies inform strategic planning

1.2 Analyse the factors that have to be considered when formulating strategic plans

1.3 Evaluate the effectiveness of techniques used when developing strategic business plans

Be able to formulate a new strategy

2.1 Analyse the strategic positioning of a given organisational audit

2.2 Carry out an environmental audit for a given organization

2.3 Assess the significance of stakeholder analysis when formulating new strategy

2.4 Present a organisation new strategy for a givenAssignment Brief

Purpose of this assignment

This assignment will enable the students to learn the process of strategic planning and enable them to formulate a new strategy. Students will learn the basic terminologies and contexts, strategic thinking, planning systems, strategic planning techniques and strategic planning issues in the first three assessment criteria. In the next four assessment criteria students learn in this assignment about the stakeholders, strategic positioning and internal and external auditing of the organisations using PESTEL, Porter's five forces, SWOT and other similar models. On the whole, by analyzing the above contents in this assignment student will able to understand the strategic planning process then to formulate the new strategy.

Task 1

For 30 years, College of Banking and Financial Studies (CBFS) has been helping students achieve their goals and ambitions. CBFS programmes are accredited by internationally recognized organisations and they lead to qualifications accepted both in Oman and around the world. Whether you are planning to change your profession or advance your current career, CBFS offer a range of professional programmes designed to improve your future prospects. (Source: CBFS Prospectus, 2014/15)

Assess how the following strategic terminologies inform the strategic planning of CBFS.

(1) Vision
(2) Mission
(3) Objectives
(4) Goals
(5) Core Competencies

To achieve pass you must;

- Give a brief description of vision, mission, objectives, goals and core competencies.
- Comment briefly on vision, mission, two objectives, one goal and one core competency of CBFS.
- Assess how vision, mission, objectives, goal and core competency inform strategic planning at CBFS.

To achieve M1, you will make effective judgements while assessing the vision, mission, objectives, goal, and core competency for CBFS while formulating strategic planning citing the link appropriately.

To achieve D2, you will have demonstrated the importance of interdependence of vision, mission, objectives, goal and core competency while formulating strategic planning for CBFS.

Task 2 -

Analyse what factors have to be considered while formulating strategic plan by CBFS. To achieve a pass you must;

- Analyse planning systems to be adopted by CBFS.
- Analyse people that should be involved in strategic planning by CBFS.
- Analyse when planning should be done by CBFS.
- Analyse the customer needs of CBFS.

To achieve M2, you will have used a range of sources of information while analysing factors for formulating a strategic plan for CBFS.

To achieve D1, you will have arrived at conclusions through synthesis of ideas and have been justified the same in selecting some key factors of strategic importance for CBFS.

Task 3 -

If CBFS were to use strategic planning techniques, evaluate the effectiveness of any two strategic planning techniques that can be used by CBFS.

To achieve Pass you must,

- Give a brief description of any two planning techniques drawing the figure clearly.
- Evaluate the effectiveness of these two strategic planning techniques for CBFS.

To achieve M2, you will have synthesised and processed the complexity involved in interpreting strategic planning techniques and as applied to CBFS.

Case Scenario

"Burjeel Hospital - A new tertiary care hospital in Oman"

Burjeel Hospital is a seven-star health care facility offering specialized medical treatment and services to the local communities in line with top international standards and practices. Burjeel Hospital is part of VPS Healthcare, an integrated healthcare provider with a network of hospitals, a chain of medical centers, pharmaceutical manufacturing and pharmacies across MENA region. The management is very optimistic that the new hospital will be recognized as one of the leading healthcare facilities in Oman. This is also important milestone for the brand, as VPS Healthcare continue its expansion across GCC. The hospital's core competency is an excellent female center to address all aspects of female health apart from other specialties. In this connection, hospital is offering free mammograms for 1000 female patients here in Muscat.

This 74-bed hospital includes a total of 31 consultation rooms. The hospital's pre and post-operative rooms, Triage center, emergency room, labour and delivery suites, ICU, NICU, Cath lab, MRI, CT Scan, laboratory and pharmacy will be equipped to the highest clinical standards. The hospital has departments and clinics for obstetrics and gynecology, pediatrics, orthopedics, ophthalmology, cardiology, rheumatology, gastroenterology, urology, psychiatry and neurology, dermatology and cosmetology, ENT, sleep medicine, endocrinology, internal medicine, dentistry, general and plastic surgery, providing people access to state-of-the-art clinical facilities and excellent healthcare from a team of international medical professionals. (Source: 'theweek', Issue 693, page 18, 4th August 2016)

Task 4

Analyse the strategic positioning of Burjeel Hospital by carrying out an organizational audit. To achieve Pass you must,
- Analyse any two strategic positioning methods or techniques.
- Analyse these two selected strategic positioning methods or techniques for Burjeel Hospital.

To achieve M3, you will have produced your answer with appropriate structure and approach clearly showing the figures for strategic positioning techniques.

To achieve D1, you will have shown realistic improvements in applying the strategic positioning techniques over and above the defined characteristics for Burjeel Hospital for greater success.

Task 5

Carry out an environmental audit for Burjeel Hospital. To achieve Pass you must,
- Analyse briefly any one environmental auditing techniques.
- Analyse the chosen environmental auditing technique for Burjeel Hospital.

To achieve M2, you will have used range of sources of information for evaluating the external environment for Burjeel Hospital.

To achieve D1 you will have reached conclusions through synthesis of ideas and the same has been justified as to which of the environmental factors is most important from the view point strategic context to Burjeel Hospital.

Task 6

Assess the significance of stakeholder analysis for Burjeel Hospital while formulating a new strategy. To achieve Pass you must,

- Identify different stakeholders of Burjeel Hospital who are important for formulating new strategy.

- Assess the significance (interests and risks) of each of these stakeholders for Burjeel Hospital.

To achieve M1, you will have to make effective judgements while assessing the significance for each of stakeholders for Burjeel Hospital.

To achieve D3 you will have generated ideas and taken decisions as to the significance of different stakeholders by mapping them in the order of ranks for Burjeel Hospital.