Strategic planning assignment

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Reference no: EM132616901

Unit 711: Y/506/9070 Strategic Planning - Level 7 Diploma in Strategic Management and Leadership

Assignment Question

This unit is about the value of the strategic planning process in formulating appropriate strategies and designing a plan that will be supported by stakeholders and other organisational leaders.

Aim

This unit is about the value of the strategic planning process in formulating appropriate strategies and designing a plan that will be supported by stakeholders and other organisational leaders. The critical review of the plan and its success is also addressed in the unit.

Learning Outcome 1: Be able to conceive and analyse strategic options
1.1 Critically analyse and identify the organisation's strategic aims and objectives including the approach adopted to strategic planning
1.2 Determine alternative strategic options available and the implications for the organisation
1.3 Critically evaluate the impact of stakeholder expectations on a strategic plan and the planning horizon

Learning Outcome 2: Be able to evaluate progress towards achieving organizational strategic aims and objectives
2.1 Critically evaluate the strategic options available to the organisation over the existing planning horizon and factoring in wider context market and competitor impacts
2.2 Assess and determine the priorities and feasibility of alternative options over the existing planning horizon

2.3 Carry out a risk assessment of the preferred strategy and alternatives
2.4 Identify, justify and articulate the selected strategies within the plan and address any potential problems
2.5 Produce a strategic plan and its components to achieve the selected strategic direction

Learning Outcome 3: Be able to implement, evaluate, monitor and review the strategic plan

3.1 Critically review the organisational and market factors to be considered in the implementation of the strategic plan

3.2 Determine and apply a range of tools and concepts to monitor and review the strategic plan

3.3 Determine the impact of the strategic plan on the organisation's direction and achievement of the organisation's objectives

In this unit learners will be introduced to the concepts, ideas and models which underpin an organisation setting or taking a strategic direction. The models and concepts briefly discussed include:

• Organisational aims and objectives
• Alternative Strategic Options
• Strategic Tools and Techniques
• Other Tools and Techniques
• Stakeholder expectations
• Strategic options
• Risk Assessment
• Components of a Strategic plan
• How to evaluate, monitor and review a strategic plan
Core text and suggested references are provided in the Specification document for your reference
Exploring Strategy, Johnson, G, Whittington, R and Scholes, K. London Financial Times / Prentice Hall 9th Edition 201

Scenario One

Being a Senior Manager-Stategic Planning of a reputed MNC [an organisation of your choice]. As part of the responsibilities, you have been asked to plan and report the following tasks
Your answer should consist of the following aspects
1. You have to understand and analyse the strategic options.
• Make a critical analysis of the aims and objectives of the organization in strategic planning with different approaches adopted in the organization. Make an analysis of the alternative strategic options and its implications to the organization to determine it. Critically evaluate the impact of the strategic option in stakeholder expectations and lead strategic planning to different horizons
2. Creating a strategic plan
• Critical evaluation of strategic plan with the available strategic options over the existing planning horizons and factors giving a wider market context taking the competitor impacts. Assess the alternative plan with its feasibility over the existing planning horizon by carrying out a risk assessment of preferred strategy and alternatives
• As a manager identify, justify and articulate the selected strategies with a plan to address the potential problems. Prepare a strategic plan with its components to overcome the potential strategic problems to achieve the selected strategic direction.
3. Make the plan Executed having done the evaluation, monitoring and review of the plan
• Critically review the organizational and market factors in implementation of strategic plan with help of appropriate tools to monitor the concepts and review the strategic plan.
• Determine the impact of strategic plan to achieve the organizational objectives.

Reference no: EM132616901

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