1. Please read the Gridlines and Instructions carefully.
2. Refer to the attached Example project.
3. Submit the part of Analyzing Firm’s Main Elements of Strategic Plan & Environment by 28th February 2025:
– vision, missions, objectives, tactics and KPI.
– External Analysis
– Internal Analysis
**make sure to provide the tables as text not images.
Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!
Part 1: Vision, Mission, Objectives, Tactics, and KPI
Start by defining each of the key elements of a strategic plan. You’ll need to understand these components and demonstrate how they interrelate to guide the firm’s overall strategy.
1. Vision:
- Define what the company wants to achieve in the long-term.
- The vision should be inspiring and set a clear direction for the organization.
- Example: “To be the global leader in eco-friendly products.”
2. Mission:
- This is a statement of the company’s purpose.
- It explains why the company exists and what it aims to achieve in the short term.
- Example: “To provide high-quality, affordable products while promoting sustainable living.”
3. Objectives:
- Objectives are specific, measurable goals the company aims to achieve.
- They should be time-bound and achievable.
- Example: “Increase market share by 10% over the next two years.”
4. Tactics:
- Tactics are the specific actions or steps the company will take to achieve its objectives.
- These are often short-term actions that are specific to certain functions or departments.
- Example: “Launch a targeted marketing campaign to increase brand awareness.”
5. Key Performance Indicators (KPI):
- KPIs are measurable values that determine how effectively a company is achieving its objectives.
- Example: “Customer satisfaction rate,” “Return on investment,” or “Market share growth.”
Table 1: Summary of Vision, Mission, Objectives, Tactics, and KPI
Component | Definition | Example |
---|---|---|
Vision | Long-term aspiration of the company | “To be the global leader in eco-friendly products.” |
Mission | Purpose of the company | “To provide high-quality, affordable products while promoting sustainable living.” |
Objectives | Specific, measurable goals | “Increase market share by 10% over the next two years.” |
Tactics | Specific actions or steps to achieve objectives | “Launch a targeted marketing campaign to increase brand awareness.” |
KPI | Metrics to measure success | “Customer satisfaction rate,” “Return on investment,” “Market share growth.” |
Part 2: External Analysis
The external analysis involves assessing factors outside the organization that can influence its strategy. This includes:
1. Industry Analysis:
- Identify trends, challenges, and opportunities in the industry.
- Use tools like PESTLE (Political, Economic, Social, Technological, Legal, Environmental analysis) or Porter’s Five Forces to analyze the external environment.
2. Market Analysis:
- Research the market size, growth rate, and competition.
- Identify your target customers, their needs, and behaviors.
3. Competitive Analysis:
- Evaluate key competitors in the industry.
- Identify their strengths and weaknesses.
Table 2: External Factors Analysis
External Factor | Description | Impact on Strategy |
---|---|---|
Industry Trends | Overview of market trends | Opportunities or threats based on trends |
Market Size | Size and growth of the market | Determines potential for growth |
Competition | Overview of key competitors | Helps identify areas for differentiation |
Part 3: Internal Analysis
The internal analysis examines the company’s internal strengths and weaknesses.
1. Strengths:
- Identify what the company does well.
- Look at the company’s resources, capabilities, and reputation.
2. Weaknesses:
- Identify areas where the company could improve.
- Look at challenges, resource gaps, or inefficiencies.
3. Resources and Capabilities:
- Assess the company’s financial, human, and technological resources.
Table 3: Internal Factors Analysis
Internal Factor | Description | Impact on Strategy |
---|---|---|
Strengths | What the company excels at | Identifies areas for leveraging strengths |
Weaknesses | Areas needing improvement | Highlights areas to focus on for improvement |
Resources | Financial, human, technological resources | Determines capability to execute strategies |
Part 4: Writing the Paper
Once you’ve gathered the data, you need to organize it into a structured paper. Here’s a quick outline:
- Introduction:
- Provide a brief overview of the company and its purpose.
- State the purpose of the paper and what you will analyze.
- Main Body:
- Vision, Mission, Objectives, Tactics, and KPIs:
- Discuss each element in detail and how they align with the company’s strategy.
- External Analysis:
- Present your findings using tables and discussion of the external factors.
- Internal Analysis:
- Highlight the strengths and weaknesses of the company.
- Vision, Mission, Objectives, Tactics, and KPIs:
- Conclusion:
- Summarize the main findings and how they can inform the company’s strategy.
- Suggest potential improvements or next steps.
By following these steps, you’ll ensure a clear and logical structure to your paper. Don’t forget to review and revise your work before submission, making sure everything flows coherently.
Good luck with your assignment!