Reference no: EM133130819

BSBSTR602 Develop organizational strategies

Activity 1:

Read chapter 1 of the learner guide and complete the following True or False Quiz

Statement

Vision and mission statements must be changed every quarter.

Relevant stakeholders for a strategic plan can only be internal to the organisation.

Organisational values are the principles a business stands for the belief system, the attitude of the organisation, and the standards of behaviour of the organisation.

A mission statement describes where a business is expected to be as a result of fulfilling its mission.

Consultation with relevant stakeholders for strategic planning can be done through different methods - meetings, brainstorming sessions, interviews, and surveys.

Vision and mission can usually be identified by accessing the organisation's
external website.

Activity 2:

1. In your own words, discuss two differences between vision and mission statement.

2. Identify at least two sources where vision, mission, and organisational values can usually be accessed.

3. List at least two methods used to consult with relevant stakeholders.

Activity 3: Assign the following stakeholders to the correct type:

1. Board members
2. Regulators
3. Individual contributors
4. Customers
5. Senior management
6. Industrial relations
7. Contractors
8. Line managers

Activity 4: Arrange the steps in the strategic planning process in the correct order.

Activity 5: Market refers to a group of consumers associated with the demand for the
organisation's products or services.
PEST analysis is a framework used to get a bird's eye view of an organisation's
internal environment from many different angles.

Cooperative ventures are permanent in nature.

The most common types of IP rights in Australia are patents, copyrights,
trademarks, registered design, and plant breeder's rights.

SWOT analysis is a thorough analysis of the external factors affecting the overall performance of the organisation.
Cost benefit analysis is a technique used to evaluate projects and initiatives by comparing the expected costs versus the expected benefits using measurable values.

Activity 6:
1. List at least two internal sources from where information on markets can be obtained.
2. List at least three external sources from where information on competitors can be obtained.

Activity 7:
Match the following points to whether they are political, economic, social, or technological factors in the external
environment.

1. Level of innovation
2. Exchange rate
3. Regulatory trends
4. Population growth rate
5. Unemployment rate
6. Level of automation
7. Age distribution
8. Tax policies

Activity 8:
Match the following points to whether they are strengths, weaknesses, opportunities, or threats in a SWOT analysis.

1. Increasing competition
2. High attrition rate among your employees
3. High market growth rate
4. Good brand perception among your customers
5. Experienced staff
6. New technology that may make your product obsolete
7. Lack of funding for expansion
8. Increasing customer demand

Activity 9: Search and identify the five key characteristics of cooperative ventures in the grid below.

Activity 10: Read chapter 3 of the learner guide and complete the following True or False Quiz

Objectives provide specific targets for the business to achieve with specific timelines, keeping in mind the current economic scenarios and market trends

Only economic objectives have to be considered in the strategic plan.

Priority can be assigned to strategies by evaluating them on strategic importance and ease of implementation.

Strategies with the lowest priority are implemented first.
Risk treatment is the process of identifying, selecting and implementing responses to address risks based on the objectives of the organisation and the nature of the risk.

Performance Indicators help assess only the financial performance of the business.

Activity 11: 1. List at least three items that are usually included in the background and relevant research section of the strategic
plan.

2. In your own words, discuss two differences between objectives and strategies.

3. In your own words, list at least three risks that are specific to cooperative ventures.

Activity 12: Arrange the following controls in the hierarchy of controls in the correct order.

Activity 13: Read chapter 4 of the learner guide and complete the following True or False Quiz

Initiatives are smaller, focused, specific pieces of work that are planned to be completed in a defined timeframe to implement defined strategies.
Communicating the strategic plan with all relevant stakeholders is the first step of implementing the strategic plan.
Developing an implementation plan and securing buy-in from relevant stakeholders is key to the smooth implementation of the strategic plan.

In a RACI matrix, an Accountable person is the person who does the work.

The effectiveness of strategic plans should be reviewed only at agreed milestones.

Variance analysis is a qualitative investigation into differences between strategic plan targets and actual results.

Activity 14: COMMUNICATE STRATEGIC PLAN

BOUNCE FITNESS
You are a senior manager in the strategy department at Bounce Fitness, an organisation that runs a chain of fitness centres in Australia.
You must role-play a meeting with internal stakeholders to communicate the strategic plan as the first step of implementation.
Access the following from your supplementary files.
• Vision and mission
• Objectives
• Strategies
Use these to communicate various aspects of the strategic plan to the stakeholders during the meeting.

Role Play Activity
Role play the scenario with two volunteers to communicate the strategic plan as the first step of implementation while demonstrating the practical skills listed in the checklist below.
Perform this activity while being observed by your trainer. If your trainer is not available to directly observe you, you may video record the role play activity and submit the recording to your trainer.
Your role
For this activity, you will take the role of a business manager.
The volunteers' role
For this activity, the volunteers will take the role of:
• A board member

• Senior management person

Activity 15: Fill in the blanks in the context of the type of roles to be assigned to team members in relation to strategic objectives.
1. People who do the work are

2. Active participants from whom inputs are sought are

3. Those who are kept up-to-date on the progress are

4. Person who is the owner of the work is

Attachment:- Class_Activities.rar