Part 2: External and Internal Assessment (Topic 3)
Part 2: External and Internal Assessment (Topic 3)
Q & A 250 words for each question need to be completed by Saturday 05/18/2019
NO EXCEPTIONS!!
What forecasting tools and techniques are the most valuable for your Strategic Plan? What assumptions are you making?
Consider your Strategic Plan Part II: External and Internal Assessment assignment. Describe a few key sources of information used for locating vital external information. What value do external assessment tools have on formulating strategies?
Please answer each question separately and use references in APA format.
Need to be completed by Tuesday 05/21/2019
Strategic Plan
Strategic Plan Assignment
The ability to think strategically and make choices based on solid analysis and evaluation, in order to capitalize on achieving optimal results when applying limited resources of the firm, are at the core of this strategic initiative plan. Strategic initiatives act as the vehicle to accomplish strategic goals. Strategic initiatives translate vision into reality. The strategic management process enables organizations to achieve objectives through three stages: strategy formulation, strategy implementation, and strategy evaluation.
For this assignment, create a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan that seeks to increase your organization’s competitive advantage. Your strategic plan should aim to innovate. Throughout the development of your strategic plan consider your organization’s responsibility in the greater social good from a Christian perspective and how your plan address ethics, cooperate social responsibly and sustainability. Globalization brings both benefits and challenges in the business sphere. Be sure to consider how globalization impacts your strategic plan and address any international considerations if needed. Your strategic plan will be completed throughout in Topic 1, Topic 3, Topic 4, Topic 5, Topic 6, Topic 7, and Topic 8.
Part 2: External and Internal Assessment (Topic 3)
An environmental scan seeks to ensure your original pitch is viable (Part 1: Overview). External and internal assessment tools are utilized your to ensure strategic initiative is viable. You may find after completing your environmental scan your strategic initiative idea will change. The environmental scan helps you develop Key Performance Indicators (KPIs), which will help focus the application of limited resources to produce above-average returns. During your scan, address the following:
Internal: Identify your strategic initiative using various internal assessment tools to evaluate your organization’s strengths and weaknesses in functional areas of business which include
· Management
· Marketing
· Finance
· Accounting
· Productions/operations
· Research and development
· Management information systems
External: Identify your strategic initiative using various external assessment tools to evaluate outside trends and events outside the control of the organization, and the industry.
Create a 5-10 slide PowerPoint presentation that shows the results of your environmental scan. Include the following:
· Identify what you found in your environmental scan.
· What did you learn about the industry?
· What did you learn about your organization?
· Include the external and internal assessment tools you used at the end of your presentation as an appendix.
· How did you apply the results of your internal and external assessment tools in your decision making process.
· Describe what you learned during the process including key issues that will be reviewed going forward.
· How does this challenge or support your original vision/concept?
· What is emerging from your learning?
· Outline the preliminary strategic initiative plan.
· How have you considered the selected organizations culture within the context of implementing your strategic initiative plan?
Provide three to five sources in your presentation.
While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
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