BUSINESS STUDY NOTES, Study notes of Business Economics

Download BUSINESS STUDY NOTES and more Study notes Business Economics in PDF only on Docsity! Write a 700- to 1,050-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets. • Include marketing and information technology strategies and tactics. • Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally. • Determine the best possible options for evaluating the strategic plan. • Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility. • Include in this section the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation. Write a 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders. Note: Any investor should be eager to meet with you after reading your executive summary. Using the University of Phoenix Business Model and Strategic Planning Outline as a guide, combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Values, SWOT Analysis, Supply Chain Analysis, Balanced Scorecard, and Communication Plan from prior weeks. Your consolidated final strategic plan should be 4,200 to 5,250 words in length. Format the paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. Marketing and information technology strategies are really important for our company. Marketing strategies going to include use of viable media, local newspapers, local TV channels, flyers, bulk emails, and website. Informational technologies strategies are going to include implementation of new technologies that will help us to reach our internal employees, external vendors and customers, as well as too keep all companies data in a single place, which will keep all employees on one page. Successful implementation of strategic Plan requires control and monitoring. The basis of monitoring process is to conduct operational control with monthly analysis of the current situation and to view the reports from responsible executives. This ensures the effectiveness and consistency of work on the strategy and conditions for effective influence on the course of its realization. The monitoring is done by a tracking system, which helps the company to track its key elements, such as market research, competition and revenue. It also simplifies reporting process by automatically generating results in a tabular form, that are presented to a senior management and the general public. Managers of the company will also constantly evaluate employees’ performance and satisfaction based on the ability to meet required goals and the results of the surveys. The role of each employee will be determined and communicated in the clearest manner, in order to avoid any complications. Monitoring the implementation of the strategic plan requires continuous evaluation of planned activities and ongoing analysis of the reasons for their failure. An integrated approach to solving the problems, identified in the research, includes the development of target comprehensive program that would be corresponding with the company’s structure, addressing issues of restructuring, infrastructure development, management, marketing, improving the efficiency of use of property, quality training, legal support of property relations, and the distribution of managerial responsibilities and authorities. The objectives of monitoring include: justification and support of the most effective projects; creation of favorable conditions for organization’s economic and social development; timely decisions making regarding strategy adjustments; and meeting set due dates. Monitoring and control of the strategic plan allows to develop integrated solutions for the problems on the basis of created complex programs, making decision on time, provide sustainable management of limited resources, solving problems with maximum efficiency, and information filtering, in order to deliver it to the right decision maker. Evaluating the effectiveness of the strategy is an important step of strategy implementation that allowing to determine the level of progressiveness of the existing structure and projects development, as well as, it helps to choose the most rational ways of development. Company always makes sure that organizational structure complies with the control object. This is reflected in the balance of the functions and objectives of management, balance between number of staff, the volume and complexity of the work required, access to complete information and resources. An important requirement is the ability to adequately reflect the perspectives and correct display of the dynamics of control processes and the consistency of performance. Each variant of management solutions meets a certain value of efficiency criteria, and the purpose of an optimal control is to find and implement a variant of the decision, in which the corresponding criterion assumes the most advantageous value. Thus, improving the efficiency of enterprise management system involves finding the best organizational forms, methods and technologies at each stage on the way to achieving a long-term success of the enterprise. To avoid ethical issues, company introduces specific frames for employees’ behavior in various situations, for both, internal and external use. This way employees know what is expected of them. Company also offers its employees equal opportunities, regardless of their race, religion, age or gender. Company always concentrates on making sure that all business operation are fair and just, employees and customers right, beliefs and values are protected.