...Final Project Running Head: FINAL PROJECT Strategic planning helps educational organizations plan a path for the achievement of its goals. The planning process should begin with an internal review of the organizations current operations and identifying what areas are in need of improvement. Once the internal review is complete, additional planning involves identifying the results the organization wants to achieve and establishing the next steps necessary to reach the intended goals. These goals or factors can range from: finances, public relations, policy development, personnel recruitment or overall strategic planning in light of student performance. This strategic plan will focus on the financial aspects of an organizations plan. Establishing and implementing effective financial policies are fundamental in an educational organizations success. One essential component of a strategic plan is the establishment of financial policies and procedures. Financial policies are the rules that govern the financial decisions making process of an organization. Educational organizations adopt these policies and follow them to guide them when making financial decisions. Upon adoption of the organizations financial policies, the organizations financial decisions making process is simplified, because the institutions governing body has already developed the financial policies needed to make important decisions. Many times financial policies result from "past experiences." These experiences...
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...A guide to strategic human resource planning By Workinfo.com, www.workinfo.com 1. Introduction A comprehensive Human Resource Strategy plays a vital role in the achievement of an organisation's overall strategic objectives and visibly illustrates that the human resources function fully understands and supports the direction in which the organisation is moving. A comprehensive HR Strategy will also support other specific strategic objectives undertaken by the marketing, financial, operational and technology departments. In essence, an HR strategy should aim to capture "the people element" of what an organisation is hoping to achieve in the medium to long term, ensuring that:- • • • • it has the right people in place it has the right mix of skills employees display the right attitudes and behaviours, and employees are developed in the right way. If, as is sometimes the case, organisation strategies and plans have been developed without any human resource input, the justification for the HR strategy may be more about teasing out the implicit people factors which are inherent in the plans, rather than simply summarising their explicit "people" content. An HR strategy will add value to the organisation if it: • • articulates more clearly some of the common themes which lie behind the achievement of other plans and strategies, which have not been fully identified before; and identifies fundamental underlying issues which must be addressed by any organisation or business...
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...BUSINESS POLICY EVOLUTION OF BUSINESS POLICY Evolution of Business Policy Course by SREE RAMA RAO on NOVEMBER 2, 2010 Business policy as a distinct field of study was introduced at Harvard Business School way back in 1911. The course aimed at improving the general management capabilities of students. It was intended to tie together and give proper focus to the first year courses by showing how the functions of business both internally and as between businesses, were closely interrelated in practice and how a chief executive had to recognize and deal with those relationships. The course, however received widespread acceptance only after the publication of two reports in 1959. The Gordon and Howell report, sponsored by the Ford Foundation predicted that a course on business policy would give students an opportunity to put together what they have learned in the separate business fields and utilize this knowledge in the analysis of complex business problems! The Pierson report, sponsored by the Carnegie Foundation also recommended the introduction of the course strongly. Following these reports the business policy course was made mandatory in all business schools in the US for the purpose of recognition. In the course of time the course gained popularity in business schools in other parts of the world as well. It is being increasingly viewed as an integrative course offered to students after completing as set of functional area courses in Finance, Marketing, and Accounting...
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...competitors? The Role of Top Management and the Importance of Company Policy Introduction to Business Policy Chief Executive – serves as the head and has the knowledge about the nature of the company. Responsibilities of the Chief Executive 1. Elaborate the major policies of the firm. 2. Define the objectives of the firm. 3. Develop strategies and the long-range plan for achieving these objectives. 4. Must develop an organization which most efficiently carries out the company’s strategic plan. 5. Must develop the operating policies which ease the burden of decision-making to carry out the plan. 6. Be involved in controlling the operations of the firm and in problem solving. Definitions 1. Major Policies Major policies (or “company” policies) deal with the firm’s fundamental nature, its identity, and the direction in which it is expected to move. They provide a framework within which the objectives can be established. 2. Objectives The firm’s objectives or goals (these are two terms used interchangeably) specify, usually in quantitative terms (e.g., dollars, percentages, or time periods), where the firm is expected to be at some time in the future. 3. Strategy Business strategy is the approach developed to achieve the objectives which have been defined. The development of the strategy is a critical part of long-range planning. A firm’s strategy (its strategic plan) defines in detail how the firm is to get from where it is now to where...
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...H. Wayne Huizenga School of Business and Entrepreneurship Masters Programs ISM 5014 – Enterprise Information Systems IT Strategic Plan Part One: Background General Instructions: The background is the first part of the IT Strategic Plan document. It is an introduction for people who are strangers to the information systems organization. These outside readers need to be given the contextual information they need to fully comprehend the IT Strategic Plan. Basic Points: • Length of Part One: Write no less than two and no more than five double-spaced pages. Content should be clear and concise. • Narrative Form: Describe the background of the organization in narrative forms, which is more engaging for outside readers. • Fictional or Real The organization may be based on a real one or may be completely fictional. If you have ever considered a start-up, this is a great opportunity to put your ideas to paper! • Factual: The background description should include factual information about key aspects of the organization’s global environment, organizational structure, and IT values (see below for complete description and expectations). Content Will Include: Global Environment: In addition to the following items, include anything about the external environment that comes up in the strategic planning process. Such items can include, but are not limited to, competition or possible competition in the market, the need...
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...Strategic and Financial Planning University of Phoenix FIN / 370 September 9, 2009 Strategic and Financial Planning Every organization should have both a strategic plan and a financial plan. Although these two seem have two different purposes, they are both needed in order for the company to survive. Strategic planning is the process of determining a company’s long-term goals and then identifying the best approach for achieving those goals (Investor Words, 2009). Financial planning is the long-term process of wisely managing finances so you can achieve the goals while at the same time negotiating the financial barriers that inevitably arise in every stage of the company’s goals (FPA, 2009). Upon examining the relationship between strategic and financial planning, we will see how Quizno’s, Family Focus Lawndale and the LaSalle Network each utilize strategic and financial planning. Quizno’s Strategic Planning Initiative Quizno’s is a gourmet sub shop that sells different kinds of oven-toasted sandwiches. At Quizno’s, the store managers are always coming u with new plans and ideas to bring in new customers. Each store has a different type of promotion that is specifically targeted for the store location to drive in new business. The store managers have weekly meeting with the storeowner to talk about ways to increase productivity and reduce waste. The store managers also have monthly meeting with the store employees to see that everyone stays on...
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...Sample assignment Layout, writing guidance and some important points to organise your thoughts for research Learning Outcome 1: Understand how the strategic management of human resources contributes to the achievement of organisational objectives. Task 1 • significance of strategic Human Resource Management function • What is Human Resource Management • Definition of HRM from different authors • Briefly explain the functions of HRM • Is human resource a strategic function – the different between personnel management and HRM clearly indicates that HR is a strategic fucntion which proves that it is a strategic function • Models given by different authors demostrating HR as a strategic function – Matching model, resources based model, harvard model, guest model (make your own choice to use and apply model in the report) • Importance or significance of SHRM for organisation briefly. • Assess the purpose of Strategic Human resource activities • Explain different levels of stratregies – corporate, business and functional strategies and then discuss that the purpose of strategic HR function is to establishes the right practices which lead organisation towards its goal. The strategic HRM’s role in change process. Explain it in the context of millenium hotel. • evaluating the contribution of SHRM • contribution can be evaluated by using different model/appraoches such as Benchmarking, balanced scorecard, contribution towards...
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...targets will then be formalised by an organisation and specific policies will be formulated through planning and implementation to promote the achievement of goals and objectives. Objectives may include: Growth maximization to increase their market coverage Sales Policy Sell to anyone who is credit worthy Social Obligations Providing work for the local economy Inward investment policy employing the services of all the local firms Candidates should promote the concept of SMART objectives and the importance of SMART objectives to the organisation. If objectives are not SMART it would be unlikely a manager could identify desired performance levels and successfully monitor and evaluate performance outcomes. Goals Examples could include: Consumer goals providing for the clients need and wants (specialist one off products) Product/Service goals Providing services of outstanding quality Operational goals Want to improve efficiency Secondary goals Social responsibility, inward investment Policies Equal opportunities policy Health, Safety and Well-being policy Inward investment policy Candidates should refer to the contribution to managerial performance. The relationship between objectives, goals and policy facilitates effective Management performance goals and objectives provide the desired outcome while policy guides behaviour by defining how something should be done. Robust, practical policies and procedures will support attainment of goals and objectives. ...
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...Course Materials Carpenter, M. A., & Sanders, W. G. (2009). Strategic management: A dynamic perspective concepts and cases. (2nd ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. All electronic materials are available on the student website. |Individual |Write a 1,050- to 1,400-word paper in which you complete the following: |Day 7 |150 | |Environmental Scan Paper | | | | | |Research and describe the internal and external environments of 2 to 3 real-world companies | | | | |using an environmental scan. | | | | |Determine what competitive advantages each company has and what strategies each company is | | | | |using. | | | | | ...
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...assignment that required them to link a significant innovation that an organisation had introduced with strategic change in the organisation. The student failed the assignment. This report will examine the reasons why the student failed by looking at the differences between strategic, tactical and operational planning. The report analyses what causes the strategic changes in an organisation and what qualifies as strategic change. The report also discusses innovation and the different levels of innovation. This report also discusses whether the student was right to classify self-scanner checkout terminals as a significant innovation that could be linked to strategic change in the organisation. Table of Contents Executive Summary 2 1 Introduction 4 1.1 Business Policy 4 1.2 Strategic Change 4 2 Strategic, Tactical and Operational Planning 5 2.1 Statement of the Objective 5 2.2 Differences between Strategic, Tactical and Operational Planning 5 3 Innovation 8 3.1 What is Innovation? 8 3.2 Impact of innovation on growth strategies 10 4 Conclusion 11 Introduction This report will identify reasons the student failed his assignment by looking at the levels of planning and strategic change as well as innovation. The first part of this report discusses in detail the three levels of planning: strategic, tactical and operational planning. The characteristics of each type of planning are given and comparisons...
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...Strategic Initiative FIN/370 Finance for Business Strategic Initiative Microsoft like many other organization have developed a very strong systemic approach in order to achieve success. This systemic approach incorporates strategic planning with financial planning so that goals associated with these types of planning can help to strengthen operations, control the net value of the organization to stay in line with meeting profit goals, setting priorities to meet expectations, and ensuring that employees from the CEO downwards including the stakeholders are all working towards to help the company meet both their long-term financial obligations as well as short-term financial obligations. In this paper we will be describe how the relationship between strategic and financial planning can help Microsoft meet business needs while focusing on the needs of their customer wants. STRATEGIC PLANNING INITIATIVES AFFECTING FINANCIAL PLANNING There are several things that Microsoft must do in order to stay afloat and grow within itself. When it comes to the market price Microsoft does have to lower their prices this is mainly because their our other competitors that have come out with similar product and order to beat them and draw more business they need to lower the process. Besides the market price there are other things that can cause a decrease such as sales, volunteer’s price reduction, operating cost, advertisement, sales incentives. Also with the decrease it can cause lower...
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...INTRODUCTION The following paper will serve the purpose of analysing the policy response to HIV and AIDS in Kenya as a case study in East Africa. Kenya has the main organisation which facilitates and controls various HIV and aids policy strategic response which is the national aids control council (NACC). It is the mandate of the Kenya Ministry of Health (MoH) to deliver quality, affordable health care to all citizens of Kenya. Various strategic documents have outlined plans towards achieving this goal, including the Second National Health Sector Strategic Plan (NHSSP II, 2005-2010) and the Kenya National AIDS Strategic Plan (KNASP, 2005-2010).They are various other documents which include the HIV and AIDS Prevention and Control Act, 2006 Sexual Offences Act, 2006 Children’s Act, 2001 Medical Laboratory Act, 1999 Science and Technology Act, 1980 Public Health Act (Cap 242) HIV prevalence in Kenya is estimated based on the Demographic and Health Survey (2003 and 2008/9), AIDS Indicator Surveys (KAIS 2007 and 2012) and Antenatal Clinic (ANC) sentinel surveillance. A trend analysis starting from 1990 shows that prevalence in the general population reached a peak of 10.5% in 1995‐96, after which it declined by about 40% to reach approximately 6.7% in 2003. Since then, the prevalence has remained relatively stable. The decline of the prevalence from 1995 to 2003 is partly attributed to high AIDS related mortality while the stabilisation of the epidemic in the last 10 years is...
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...Human resource management strategy and analysis This chapter is aim to explain certain aspect for HR strategy. First of all explain why strategic Explain why strategic management is important to all managers? Strategic human resource management means formulating and executing human resource policies and practices that produce the employee's competencies and behaviors the company needs to achieve its strategic aims. Goal –setting and planning process It involves setting objectives, making basic planning forecasts; reviewing alternative courses of action, evaluating which option are best then choosing and implementing the plan. Strategic planning The company's' plan for how it will match its internal strengths and weaknesses with external opportunities and threat in order to maintain a competitive advantages. Strategy A course of action the company can pursue to achieve its strategic aims. Strategic management The process of identifying and executing the organizations' strategic plan by matching the companies' capabilities with the demands of its environment. Define current business Perform external and internal audits Formulate a new direction Translate the mission into strategic goals Formulate strategies to achieve the strategic goals. Implement the strategies and then evaluate performance Types of strategies: First of all corporate –level strategy: it identifies the portfolio of business that in total comprise the company and how these business relate to each...
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...Please respond to the following. Note: Online students, please respond to two (2) of the following three (3) bulleted items. • Evaluate the importance of each major step in policy analysis as it relates to political choice. Next, debate if one would consider any of these steps more important than another. Provide a rationale to support your answer. • Consider Luther Gullick’s views on the division of work. Discuss the overall manner in which the division of work that Gullick espouses impacts the size of public administration. Provide two to three (2-3) examples of such an impact—or lack thereof—in order to support your response. • From the e-Activity, select two to three (2-3) aspects of the U.S. Office of Personnel Management’s (OPM) 2014-2018 strategic plan that would mostly likely be difficult to implement, and analyze the main reasons why the aspects in question would make implementation such a challenge. Next, suggest one (1) method that a policy analyst could use in order to implement the strategic plan overall. Provide a rationale to support your answer. PAD 500 WEEK 3 DQ “Planning, Implementation, and Evaluation” Please respond to the following. Note: Online students, please respond to two (2) of the following three (3) bulleted items. • Evaluate the importance of each major step in policy analysis as it relates to political choice. Next, debate if one would consider any of these steps more important than another. Provide a rationale to support your answer. • Consider...
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...Strategic planning is more than ensuring your association will remain financially sound and be able to maintain its reserves—it’s projecting where your association expects to be in five, ten, or fifteen years—and how your association will get there. It is a systematic plan- ning process involving a number of steps that identify the current status of the association, including its mission, vision for the future, operating values, needs (strengths, weaknesses, opportunities, and threats), goals, prioritized actions and strategies, action plans, and moni- toring plans. Strategic planning is the cornerstone of every common-interest community. Without strategic planning, the community will never know where it is going—much less know if it ever got there. An important concept of strategic planning is an understanding that in order for the community to flourish, everyone needs to work to ensure the team’s goals are met. Team members include all association homeowners, the board of direc- tors, professional management—whether onsite or through a management company— and various service professionals such as accountants and reserve professionals. This team needs to work as a collective body to be successful. Part of the team concept is the establishment of roles for the team players. Teams usually perform poorly if everyone or no one is trying to be the quarterback. Strategic planning is a relatively new genre of planning, adapted from primarily two sources. Business schools have equipped...
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