Part 1 Business Policies and Strategies
Write 500–700 words and references that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
As the newly hired manager of the corporation strategic planning department, you plan to hold an initial meeting with your new team of strategic planners to make sure that they truly recognize the differences between routine planning and strategic planning. Discuss the following specific questions:
- In your own words, describe the difference between strategic and routine planning; give an example of each.
- What could happen to an organization that does not use strategic planning or uses poor strategic planning?
As part of your primary task response for this week’s discussion board assignment, you will reflect on your thoughts about taking the comprehensive exam at the end of this course. The comprehensive exam is to assess how much you have learned throughout the degree program. We use the feedback from the exam to continue to improve our program to ensure the highest quality for all students.
The comprehensive exam is 100 points and is worth 10% of your grade. You will receive a series of multiple choice questions and you will have three minutes to answer each question. You will need to have computer Internet access but not additional application plug-ins will be required. The exam works on all Internet browsers. When you receive your results you will need to upload the copy as a submission file.
The comprehensive exam will cover the core business competencies that you covered throughout your program. The topics covered include marketing, finance, accounting, business law, management, leadership, etc. There is no need to prepare for the exam. We want to determine what knowledge was retained throughout the program. However you may want to develop strategies in taking an exam.
What strategies do you have to be successful in taking exams (how do you relax, make sure your stress level is down, etc.)? Share best practices with your classmates on how they can best prepare.
Part 2 Business Policies and Strategies
1300–1600 words and references
There are a number of well-known strategic planning models. To bring your team up to speed on the evolution of strategic planning itself, write a white paper of 1300–1600 words, addressing the following specific models of strategic planning:
- Michael Porter’s Five Forces
- Adrian Slywotzky’s Value Migration
- W. Chan Kim and Renee Mauborgne’s Blue Ocean Strategy
Using the Web resources provided and any others you find, make sure to address the following specific questions in your white paper:
- The premise underlying each of the three models of strategic planning and the advantages each brings to the process
- How to apply or implement strategic planning using each of the 3 methods
- The pros and cons of each strategic planning method
- Select one of the models and respond to the following questions:
- What methods could be used to ensure continuous process improvement in the organization from a production and operations management perspective?
- From a business finance/accounting perspective, how would you analyze the business and measure the effectiveness of your strategy so you can make the best decisions for the organization?
- How would you, as a leader, help the organizational structure and culture adapt to the changes that would result from this strategy (how would you empower teams, resolve conflicts, and motivate employees to support the changes from this strategy)?
- From a marketing perspective, what effect will the strategy have your marketing plan; product differentiation, positioning, life cycle, and portfolio; and internet/retail marketing to your customers?
- What human resource management changes will be necessary because of the strategy? Address each of the functions of HR including: staffing, training and development, performance management, compensation, and employee relations.