10 Aug Strategy Formulation

Strategy Project Phase 1: Strategy Formulation – Project part 1

 Phase 1: Strategy Formulation Draft

 Instructions

Prepare a draft document for review by your professor that includes the following:

·       an analysis of current vision/mission and proposal for updated vision/mission,

·       external Factor Evaluation Matrix and Porter’s 5-Forces Analysis,

·       Internal Factor Evaluation Matrix,

·       SWOT Matrix,

·       CG Matrix, and

·       Strategic direction choice and rationalization: choose one (or two) of the strategic directions as defined in Chapter 5 that you feel will be best for your organization to pursue in the coming 3 years, and develop a rationalization for this choice. Ensure that the choice is driven by the matrices developed above.

Note Important:

Though flexibility and adaptability are often required in today’s business world, organizations still require a roadmap that encompasses the parameters against which they will make managerial decisions as well as the steps they plan to take to ensure they get from point A to point B. This assignment will ask you to develop a 3-year strategic plan for an organization with which you are affiliated. It could be your place of employment, a volunteer organization, a sports team, a religious organization, or even your child’s daycare facility. The assignment will ask you to develop your strategy in three phases: strategy formulation, strategy implementation, and strategy evaluation.

Instructions

This assignment is designed to expose you to the complexity of a strategic plan and the measures required for properly implementing and evaluating a plan. It will allow you to

·       expand your knowledge of strategic planning within an organization,

·       develop your ability to use strategic planning tools,

·       contribute to your ability to assess the strategic directions and plans for an organization with which you are affiliated, and

·       create a fully implementable strategic plan.