What trends or conditions impact the company in a positive way?
Topic: Strategic Planning
Strategic Planning: SWOT Analysis and Goals
Strategic planning within organizations provides a plethora of benefits to the organization including meeting goals specified in the plan and contributing to the long-term success of an organization. Refer to Exhibit 8.3: The Strategic Management Process, located in Chapter 8 of the Management textbook.
For this assignment, select either your own organization or one you know enough about to complete a series of assignments related to strategic planning for a proposal you would like to implement. The same organization will be used in the following assignments:
1. Strategic Planning: Strategy Map (Topic 4)
2. Strategic Planning: Action Plan (Topic 5)
3. Strategic Planning: Communication Plan (Topic 7)
4. Strategic Planning: Evaluation (Topic 8)
5. Strategic Planning: Presentation (Topic 8)
Once you have selected the organization, identify a strategic goal through preforming a SWOT analysis within your sphere of influence. For example, if you are not currently in a management or leadership position, it is acceptable to focus on a more focused area of your organization you are currently in a position to impact. If you are a classroom teacher, perhaps you see opportunities for improving access to technology in your district. If you are a nurse, perhaps you see opportunities to improve communication processes in your department, etc.
A SWOT analysis is part of strategy formulation that leads to goal setting and then progresses to the development of a strategic plan. Be sure to follow the criteria for effective goals as illustrated to Exhibit 7.5, located in Chapter 7 of the Management textbook.
Complete a SWOT analysis using the “SWOT Analysis” template. Consider the following guiding questions as you complete the SWOT Analysis:
1. What are the recognized strengths of your identified area?
2. What does your identified area do better than other companies?
3. What unique capabilities or resources does you identified area possess?
4. What do other companies consider to be your strength?
5. What are the recognized weaknesses of your identified area?
6. What do competitors do better than your identified area?
7. What areas can be improved at your current position?
8. What do other companies consider to be your weakness?
9. What trends or conditions impact the company in a positive way?
10. What opportunities exist for the identified area?
11. What trends or conditions impact the identified area in a negative way?
12. What is the competition doing that may have an impact on your identified area?
13. Does your identified area have solid financial support?
14. What impact does your weakness have on the threats your identified area faces?
These questions are samples of what you may need to address in your SWOT Analysis. Using the SWOT analysis results, develop at least one strategic goal. Submit both the completed SWOT analysis document and the strategic goal.
APA format is not required, but solid academic writing is expected.
Read Chapters 7 and 8 in Management.
2. Southwest Airlines: In a Different World
Read Harvard Business School (HBS) case reprint, Southwest Airlines: In a Different World (2013).
1. Overview of the Strategic Planning Process
Watch “Overview of the Strategic Planning Process,” by Virtual Strategist (2012), located on the YouTube website.
2. Strategic and Operational Planning
Read “Strategic and Operational Planning,” located on the Taugher Change Catalyst Consulting website.
1. Management Use of Strategic Tools for Innovating During Turbulent Times
Read “Management Use of Strategic Tools for Innovating During Turbulent Times,” by Tassabehji, from Strategic Change (2014).
2. Strategic Intent
Read “Strategic Intent,” by Hamel and Prahalad, from Harvard Business Review (2005).
3. Strategy Execution A Four Step Process
Read “Strategy Execution: A Four Step Process,” by Morgan, from MWorld (2010).
1. SWOT Analysis
Review the “SWOT Analysis” template in preparation for the Strategic Planning: SWOT Analysis assignment.