Strategic Plan Research

Strategic Plan Research

The sample strategic plan that I have selected is for a small business in the retail industry. This strategic plan outlines the company’s vision, mission statements, goals, and objectives and thoroughly analyzes its external and internal environments. The external environment analysis includes an overview of the competitive landscape, a SWOT, and a PESTEL analysis. This helps the company understand the external forces that could influence its success, such as political, economic, social, technological, environmental, and legal factors. The internal environment analysis examines the company’s strengths and weaknesses, such as its human resources, financial resources, and organizational structure.

The plan does an excellent job of addressing corporate social responsibility and environmental sustainability. It outlines the company’s commitment to ethical business practices, reducing its carbon footprint, and minimizing the use of plastics. This is important because it shows that the company is committed to positively impacting the environment. Additionally, by minimizing the use of plastics, the company is demonstrating its commitment to reducing waste and promoting sustainable practices.

The plan could be improved by including a more detailed people plan. The program should outline the company’s commitment to creating a diverse workforce and provide more detail on how it plans to recruit and retain employees. This could include strategies such as offering competitive salaries, creating a flexible work environment, and providing training and development opportunities. Additionally, the plan should provide more detail on how it measures success and tracks progress against its goals and objectives. This could include customer satisfaction, employee engagement, and financial performance metrics.

Overall, the plan does an excellent job of clearly stating where the organization is going and how it will get there. It thoroughly analyzes the external and internal environments and includes a commitment to corporate social responsibility and environmental sustainability. However, it could be improved by having a more detailed people plan and providing more information on how it plans to measure success. By addressing these areas, the company can ensure that it is on track to achieve its vision and mission and is progressing towards its goals.

References

Thompson, A. A., Strickland, A. J., & Gamble, J. E. (2021). Crafting and Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases (23rd ed.). McGraw-Hill Education.

Harvard Business Review. (2021, January 27). What Is a People Plan? Retrieved from https://hbr.org/2021/01/what-is-a-people-plan

U.S. Environmental Protection Agency. (n.d.). Corporate Social Responsibility. Retrieved from https://www.epa.gov/sustainable-management/corporate-social-responsibility

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In this course, you will analyze an existing strategic plan based on the information you have learned throughout the coursework in your MBA program.

Research and select a sample strategic plan in an industry with which you are familiar or interested. (THIS IS YOUR CHANCE TO TAKE YOUR IDEA FOR A SPIN!!!) Be sure it includes the various components of a typical strategic plan. Reference Figure 1.1 “Identifying a Company’s Strategy—What to Look For” in Ch. 1 of your text.

Identify in 350 to 525 words what the plan does well and areas for improvement.

Discuss whether the plan:

• Clearly states where the organization is going and how it will get there
• Evaluates the organization’s external and internal environments
• Includes a people plan and addresses the achievement of a diverse workforce
• Has corporate social responsibility and environmental sustainability
• Submit the project and its citation to your faculty member for approval. This will be used in Wks 4 and 5 of the course.