STR 581 (Strategic Planning & Implementation) Complete Class
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WEEK 1 STR 581 Week 1 Individual Assignment - Ethics Reflection Paper Ethics Reflection Paper Ethics and social responsibility are integral components in developing a strategic plan while considering stakeholder needs. As such, ethics and social responsibility should be deemed as an essential strategic concern within all organizations. Ethics and social responsibility has the capacity to make or break an organization; the success of an organization’s strategic plan is dependent upon it. This paper will explain the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs. Lastly, this paper will elaborate as to how my ethical perspective has evolved throughout the program. Ethics in Organizations An organization needs to adhere to ethics in order to effectively implement its mission, vision, and objectives in a way in which offers a solid foundation to management and their subordinates to properly develop and implement its strategies. By doing so, the organization as a whole is essentially subscribing to one commonality that directs all of the actions of the employees of the organization. Additionally, it assists in preventing such employees from divergence in regard to the proposed strategic guideline. Ethics additionally ensures that a strategic plan is developed in accordance to the interests of the appropriate stakeholders of the organization, both internal and external (Jin & Drozdenko, 2010). Likewise, corporate governance that stems from various regulatory parties makes it necessary for organizations to maintain a high degree of ethical standards; this is done by incorporating ethics within the organization’s strategic plan so as to foster a positive corporate image for the stakeholders and general public
STR 581 Week 1 DQ 1 What are the major components of a strategic management process? Which of these components is the most difficult for managers to perform? Explain your answer.
Where have you seen organizational mission, vision, and values statements that were misleading? How did that affect the organization? My previous company’s (name withheld) statements were certainly misleading. I would say that their statements were more market oriented; they were not a product oriented as they should have been. A mission statement essentially provides a definition of a business in regard to satisfying the basic needs of the customers. I believe the most integral role of a mission statement is to set the tone for the business, both internally and externally. Unfortunately my previous company’s statements did not reflect their employees. The company did not aim to let their employees know what their company was about and how they would actually go about satisfying their mission. The company was more interested about the customers and not the employees. Their mission statement was also overly simplistic. The statements focused on having the best customer service in the markets in which they occupied; nonetheless, the customer service was horrendous. I feel this is partly due to the fact that the company’s statements did not factor us in. The company was also so big that their statements were forced to be overly generic. The statements were essentially meaningless and not reflective of the company’s true values.
WEEK 2 STR 581 Week 2 Individual Assignment - Environmental Scan and Summary Individual Assignment: Environmental Scan and Summary When conducting an environmental scan, it is most beneficial for Kudler to utilize both an internal environmental scan and an external environmental scan. In order to effectively conduct an internal environmental scan, it is most appropriate for Kudler to utilize a SWOT analysis in order to identify the company’s strengths, weaknesses, opportunities, and threats. In this capacity, if Kudler ultimately wants grow and further expand, it will certainly have to capitalize on its key strengths while overcoming its major weaknesses and threats. Additionally, Kudler should particularly focus on minimizing its operating expenses and costs in order to survive in today's highly competitive market and current economic recession. STR 581 Week 2 DQ 1 How would you determine if a strategy has created value and sustained competitive advantage for Kudler Fine Foods? I would determine if a strategy has created value and sustained competitive advantage for Kudler Fine Foods by first conducting a pre and post environmental scan. I would conduct an internal environmental scan and an external environmental scan. In order to effectively conduct an internal environmental scan, I would conduct a SWOT analysis in order to identify Kudler’s strengths, weaknesses, opportunities, and threats. When examining the strengths, I would pay particular attention to Kudler’s product mix and see if they have established a solid reputation. When examining the weaknesses, I would look at the company’s market presence and overall resources. When looking at the opportunities, I would see if the company’s quality has improved and if further opportunities exist and have been capitalized on. As far as threats are concerned, I would see how the preferences of the company’s consumers are as big as a factor as they once were and what the company has done to address them. As far as an external STR 581 Week 2 DQ 2 responses to classmates are in different colors; original answer is in black Locate an organization in the news and explain how it is trying to create value and competitive advantage in its sector. WEEK 3 STR 581 Week 3 Individual Assignment - Strategic Plan Update - Draft I Individual Assignment: Strategic Plan Update—Draft I
Mission Statement The purpose of a mission statement is essentially to explain the underlying rationale for a company’s existence, and at the same time, inquire as to what a company’s function is in relation to how the company places itself within society (Pearce & Robinson, 2009). The mission statement is critical in that it expresses a company’s true identity and philosophy while establishing an image in which the general public will perceive. As such, it is important that the mission statement of Kudler Fine Foods emphasize the aforementioned premises. The previous mission statement of Kudler Fine reads as follows: “Kudler Fine Foods is committed to providing our customers with the finest selection of the very best foods and wines so that your culinary visions can come true” (Kudler Fine Foods Web Site, 2007). A more appropriate mission statement for Kudler would be: “The mission of Kudler Fine Foods is to provide a large assortment of high quality and valuable foods and wines at the best possible prices with the assistance of a well tenured and obliging workforce in order to meet and exceed the expectations of its customers to make their shopping experience as enjoyable as possible”. STR 581 Week 3 DQ 1 Through your research, select two of the strategic plan options that could apply to Kudler Fine Foods. What are the strengths and weaknesses of each option? How does each of the two choices fit with the organization?
When facing a choice between strategic plans of similar value, how would you determine which strategic plan to incorporate?
WEEK 4 STR 581 Week 4 Learning Team Assignment - Strategy Paper Alternative Strategies for Kudler Fine Foods Kudler Fine Foods is a gourmet food shop owned by Kathy Kudler whose sole purpose for opening such a store was driven by her passion for gourmet cooking. Kudler Fine Foods has experienced huge success since its birth in 1998, because of the consumer’s need for organic products. Kathy currently has three locations: La Jolla, Del Mar and Encinitas and specializes in sales of the following organic products: meat, seafood, produce, cheese, dairy, and wine. Kudler is the only gourmet food shop in its vicinity and is committed to providing customers with the finest selection of gourmet food while maintaining a competitive edge. As a result, the executive team has expressed desire to expand more rapidly throughout the industry. Team Alpha will summarize five strategic alternative plans: (1) concentrated growth, (2) product development, (3) horizontal integration, (4) growth industry strategy and (5) differentiation. Team Alpha will conclude with selecting the best alternative that will aid in Kudler Fine Foods future growth. STR 581 Week 4 Learning Team Assignment - Strategy Paper Kudler Fine Foods Strategic Plan In this paper, Team # will evaluate alternatives that Kudler Fine Foods must consider to realize growth. Each team member will include one alternative and recommend a single strategy that Kudler Fine Foods may implement. The alternatives discussed will be (1) expansion by horizontal integration (2) expansion by adopting generic competitive strategies (3) expansion by product development (4) expansion by recruiting new management team, and (5) expansion by identifying a specific plan for new location. Expansion by Horizontal Integration To maintain and increase its competitive edge, an alternative strategy KFF will consider is to realize growth and increase productivity through horizontal integration. Horizontal integration will increase KFF’s economies of scale and scope, marketing power and reduce the cost of international trade when this opportunity arises (University of
Phoenix, 2007). To increase its scale and scope, KFF will expand geographicaly first through acquiring similar stores so as to sell more of the same product. This will increase its marketability and popularity at a reduced cost while increasing scope through synergism. The more stores KFF acquires, the greater its market power over suppliers and other smaller specialty grocery stores. This increase in marketing power will bolster bargaining power, which will help control cost, increase its output capability, and increase Kudler’s chance to reach international markets by acquiring partners already serving these areas. STR 581 Week 4 DQ 1 Recall how you determined if you created value and sustained competitive advantage for Kudler Fine Foods. While implementing this strategy, what factors would you monitor and evaluate to determine if you were successful? Why would monitoring and evaluating these factors be important?
Which of the following considerations are most often neglected when implementing a strategy; structural, leadership, or cultural? Defend your position.
WEEK 5 STR 581 Week 5 Individual Assignment - Strategic Plan Update - Draft II Individual Assignment: Strategic Plan Update—Draft II Work Breakdown Structure Organizational Chart
Work Breakdown Structure Project Name: Kudler Fine Foods Sales Growth Strategy Focus Area: Supply Chain Overhaul Budget Allowed: $220,000 Prepared By Document Owner(s) Michelle Pritchard
Project/Organization Role Director of Operations
Project Closure Report Version Control Version Date Author 1 03/22/2010 MP
Change Description Created document
Work Breakdown Structure Purpose and Limitations
Purpose:
• • •
Identify applicable and required work Identify applicable and required resources Establish milestones for each segment
STR 581 Week 5 DQ 1 Although objectives, functional tactics, and action items are included in many implementation plans, why do some organizations have a difficult time reflecting the plan they create?
STR 581 Week 5 DQ 2 What problems have you faced when creating your implementation plan? In your experience, where do risk management plans fall short?
STR 581 Week 6 Individual Assignment - Final Exam
This Sample Final Exam is provided as a resource to help familiarize students with the content areas and types of questions that they may encounter when they complete the comprehensive STR/581 Final Exam in Week Six.
1. ____________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs
1. 2. 3. 4. 5.
Performance Value Quality Customer retention Customer loyalty
2. Marketers need to be aware of threats and opportunities associated with four trends in the natural environment. All of the following are among those trends EXCEPT ________.
1. 2. 3. 4. 5.
The shortage of raw materials The increased cost of energy Near 90 percent corporate support for “green causes� Increased pollution levels The changing role of governments
3. A(n) ________ is any good, service, or idea that is perceived by someone as new. The idea may have a long history, but it is new to the person who sees it as such.
1. 2. 3. 4. 5.
Product Innovation New idea Creative product None of these
4. In market-penetration pricing, the company’s objective in pricing is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits.
1. 2. 3. 4. 5.
Block competitive launches Maximize their market share Minimize their market share Maximize volume None of the above
5. Most companies will ________ their list price and give discounts and allowances for early payments, volume purchases, and off-season buying.
1. 2. 3. 4. 5.
List two prices Increase Reduce Adjust None of these
6. If a marketer decides that segmenting a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.
1. 2. 3. 4. 5.
Demographic Psychographic Geographic Cultural Social class
7. ________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.
1. 2. 3. 4. 5.
Marketing intelligence MIS (marketing information system) Marketing research Demographics Marketing management
8. Companies undertake surveys to learn about people’s knowledge, ________, preferences, and satisfaction, and to measure these magnitudes in the general population.
1. 2. 3. 4. 5.
Beliefs Psyche Inner id Deepest secrets Intelligence and literacy
9. Designing a research plan calls for decisions on all of the following EXCEPT ________.
1. 2. 3. 4. 5.
Drafting research objectives Data sources Research approaches Research instruments Sampling plans
10. Procter & Gamble has many soap brands. One reason for this is that soap users tend to group together in terms of preferences such as bleaching action, softness, stain-removal, et cetera. Which of the following preferences pattern wouldmost likely apply to P&G’s method of response to market needs?
1. 2. 3. 4. 5. 6.
Homogeneous preferences Diffused preferences Clustered preferences Psychological preferences Cultural preferences STR 581 Week 6 Individual Assignment - Strategic Plan Update—Final Version Individual Assignment: Strategic Plan Update—Final Version
Executive Summary Established in 1998, Kudler Fine Foods is a company that provides quality food products at a reasonable price in order to provide its customers within the San Diegometropolitan area with the best options. Kudler maintains three stores with various departments. The company prides itself in providing value for its employees and customers. From a financial perspective, Kudler’s financial statements reflect a competitive market presence within its
industry based on its size and history; this can be seen within its income statement and balance sheet. Kudler’s financial forecast demonstrates that the company expects a great deal of growth in the future. An environmental scan shows that although the company faces several threats, the company has numerous opportunities it can capitalize on that may foster continued growth. Company Background Opened by Kathy Kudler in 1998, Kudler Fine Foods is a specialty food store that provides its customers with quality services and products at reasonable prices. Kudler has three stores, with locations inDelMar,La Jolla, and Encinitas. These stores have departments that provide produce, bakeries and pastries, meat and seafood, condiments and packaged foods, and specialty dairy products.