This is a solution of Strategic Planning Process Assignment Help in which we discuss Developing business
Strategic Planning Process Assignment Help
1. Explain the significance of strategic plan for an organisation wishing to introduce continuous improvements. Describe the various stages of planning process.
Continuous improvement is all about thinking the future possibilities and a new direction that can give the organisation a new pace. This allows the organisation to come out from their current way of thinking and the stakeholders can get new processes and services to through the organisation. At the time of introduction of continuous improvements, the strategic planning plays a very important role as it helps the organisation in matching its strengths to the opportunities. Strategic planning gives the accurate information about the changes by collecting, analysing and screening the information. The stages of planning process are as follows:
- Project plan: it is all about make an agreement about the researches, development, review, approvals. In this stage, the organisation would plan who will perform the different task and what time horizon will be used.
- Research phase: the analyses on the basis of the market and the competitors are done in this part such as SWOT, PEST etc. In this phase, it is very important to stick to the market segment used in the planning process.
- Authoring phase: the outcome of whole research (plan) is written down for the strategic direction and strategy formation.
- Presentation and review phase: once the plan is outline then it is presented in fronts of the senior management to review.
- Approval phase: if the plan is good for the company and support the continuous development, then it is approves by the senior management.
- Communication phase: the plan is communicated to the stakeholders of the company for the collection of the feedback from them. The changes the plan may occur according to the recommendations.
- Implementation phase: final plan is implemented in the real world.
2. Who are stakeholders? Explain the importance of communicating changes to stakeholders in the case of continuous improvement system.
Stakeholder is a person or company that is very much interested towards the activities of the organisation and has power to affect the decision making of the organisation or could get affected by this. Stakeholders could be a person or a company or a group of people. Stakeholders may be of two types: internal (such as shareholders, employees) and external (such as customers, competitors, local communities etc.).
For the organisation, it is very important to communicate the changes in the case of the continuous improvement system as the stakeholders are the key people of the organisation such as shareholders and customer, supplier etc. These are the people who invested their money in the organisation directly or indirectly and if they tend towards the competitors then they can turn the company’s profit into loss. So to gain the success into the market, the organisation has to keep the stakeholders happy by maintaining good relationship or communicating the information.
3. Set goals and identify how you would address any gap in performance.
Setting of goal is a very important process of the organisation. The organisation should assign the goal to the employees from the business plan or the objectives. The defined goal of the organisation should be clear as the employees can easily comprehend it without any involvement.
For addressing the gap in performance, I would go for performance development plan. Gap in performance could be address by the Performance development plan only as personal performance development plan contains a set of efforts to solve the problems in plan and the gap could be addressed by the mentor while helping the employees by getting their feedback about the plan or in general meetings.
4. Prepare an outline of a proposed performance plan which should include the following items:
Identify the desired performance level of team.
For an ideal performance plan, it is very necessary to develop the performance level or standard objective, measurable, realistic and clear. Following are the general measures that could identify the desired performance level:
- Quantity addresses how much work should be done to the employee.
- Quality addresses how well the work should be performed by employees.
- Timeliness addresses how quick the employees are able to perform the task.
Identify the performance levels to be achieved.
Once the desired performance level is decided, the specific measures of the performance level should be achieved. For the identification of the performance level to be achieved, a standard to the desired performance level should attach. For example- how could the better quality in task could be achieved.
Provide a measure of progress (e.g. KPIs) for the desired performance level.
Key performance indicator (KPI) is used by the organisation to measure the performance. Basically it is an indicator that indicated the progress toward the desired performance level. It is also a task of KPI to analyse the gap between the actual and targeted performance for providing effectiveness and accuracy in the processes of organisation.
5. What rewards and recognition would you use to encourage and support your team?
Motivating and supporting the individual who are working with me or under me is very important as motivation boost their energy toward the performance. The rewards and recognition also plays a very important role in motivating the employees. The rewards may be of two types: Monetary rewards: such as bonus, incentive etc. and Non-monetary rewards: appreciation, promotion, recognition etc. According to me, monetary rewards work for the employees and boost the confidence of the employees. Rewards like create a day off also works for the employees but for short intervals.
6. What decision making process would you use? Why?
To make the organisation run smoothly, the routine and strategic decision making process would be best as the routine decision making includes the routine decisions which are related to the general functioning of the organisation. There is no need of so much analysis and researches in this type of decisions whereas, the strategic decision comprises of the different set of the decisions that are taken to achieve the organisational goal and objectives. The strategic decision making should be applicable in the top management while the routine decision making could be used in operational level.
7. What systems would you put in place to communicate the continuous improvement process? Use a flow chart to assist you if you need.
Once the continuous improvement process is designed, it would be communicated to the recipients via email from the HR manager keeping the supervisor of the employees in the CC and the same would be uploaded in the intranet of the organisation which employees could access using their credentials. Every module of the continuous improvement process targets a specific knowledge area which would be ticked by the manager once an employee completes the module. An online test could be arranged to help the manager assess the improvement after each module.
8. What new opportunities would you capitalise on and responsive to the market changes?
Knowledge performance indicators depend on the market a lot. When an opportunity is presented in the market, the organisation could use that to achieve the KPI. For example, if foreign direct investment in an overseas country is allowed in a market as a change, it would present a huge opportunity to an organisation which was looking to enter the market for a long time but was unable to do so because of the zero FDI policy. In the same manner, if the demand of a particular product of the organisation is increased in the market, organisation could respond by increasing the supply and sometimes the increase in the price also to capitalise the opportunity.
9. How would you measure the success of these opportunities? Why use these indicators?
The success of the opportunity is measure against the set objective. For example, if an organisation has the objective to expand internationally, it could measure the success of the organisation by measuring its share in the international market. The key indicators are like the milestones and the use of these indicators allows an organisation to assess the success of the implementation of the business strategy. In case, certain indicators are not achieved, the change in the business strategy is proposed to make sure that the organisation is able to take advantage of the opportunities in the market.
10. Teamwork plays a very important part in the decision making process. Explain the advantages of team work in the continuous improvements and how team should be employed to enhance performance and productivity. Give workplace examples.
Team work is an essential element of any organisation whether it is a product based organisation or service based organisation. A team might have some weak links in the form of inexperienced employees or lacking the required skills to meet the requirement criterion. In this type of condition, it is the responsibility of the team leader that he can bring all the employees at the same level to achieve the success. A team lead might assign mentors (experienced team members) to the individual who needs improvement. In this manner, the employee receives the help which does not only help the team but also improves the ability. The main advantage of team work over traditional training programs is that the employee learns while working on the job. Hands off experience is always far ahead than the training classes where only theoretical knowledge is provided. Another main advantage of team work in the development of the employees is the exposure they get while working in a team. Read more about : Mergers And Acquisitions And Private Equity
11. Management support can be made available to all employees through:
Management can arrange the counselling sessions for the employees in which they discuss the problems faced by them at work. A counsellor helps the employees in believing themselves and accepting the lack of knowledge. In this manner, counsellor provides a direction to the employee by make the employees understanding the actual problem areas how they could overcome the problem
Coaching is mainly provided through the classroom training programs in an organisation. Almost all the big organisations like Google and Apple have the coaching programs to help the employees in learning the new technologies or becoming proficient in an existing skill. Some organisations also arrange internal certification programs during coaching to test the skills of the employees learnt in the coaching sessions. Even some organisations pay for the external certifications which are cleared by the employee after the relevant coaching.
Mentoring is the basic support which organisations provide to the new employees. As soon as an employee joins a program, a mentor is assigned to him during the training program itself. After that there are mentors provided to the new employees within the team they are working. Mentoring is better approach than the group training programs because a mentor has a very specific job to handle a particular employee. A mentor works as a personal trainer for the employee who helps him in learning on the job
12. Explain the significance of the following:
Appraisal interviews are conducted by the HR managers to decide the raise of an employee on regular basis. HR manager collects the feedback on the employee from his supervisor before conducting the appraisal interview. On the basis of the feedback, HR manager discuss the merits and demerits of an employee. This interview helps employee in identifying the area where he is lacking and also the areas where he has achieved expertise. Employees get to know the importance of all the aspects of the work and then plan accordingly for further improvement.
Personnel records are maintained by the HR department of an organisation which are created by collecting all the information about the employee such as his expertise, experience, team work ability and the progress of the employee. Personnel records help a manager in making the various decisions. When a team is formed personnel records of the potential team members are studied by the manager so that he can choose the right person for the job. HR managers also use personnel records while preparing the policies of the organisation.
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