...A Plan Versus a Strategy: Is There a Difference? Often times, the words “plan” and “strategy” are used interchangeably. The meanings of the words are quiet similar; a method for achieving an end. However, there are strong differences between these words as well. A plan is an arrangement, a pattern, a program, or a scheme for a definite purpose. A plan is very concrete in nature and doesn’t allow for deviation. If “Plan A” doesn’t work, you don’t alter “Plan A” and try again. Rather, you move to “Plan B;” something totally different. A strategy, on the other hand, is a blueprint, layout, design, or idea used to accomplish a specific goal. A strategy is very flexible and open for adaptation and change when needed. I recently heard a great example of the difference between a plan and a strategy, using sports. This example serves to illustrate the difference between a soccer team’s plan or strategy to score a goal. A soccer team with a plan to score a goal might begin with a throw-in to another specific player. The ball would then be passed to a designated offensive player who would then be responsible for shooting the ball into the goal. The succession of moves would be deliberate and would not be adjusted when risks or obstacles to the plan were presented. A soccer team with a strategy to score a goal might also begin a play with a throw-in one of a few different teammates. The main idea would then be to move the ball forward and pass to open offensive players who would then...
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...* * Riordan Manufacturing superintendents have come up with a plan to create and lead new teams. The purpose of the new teams is to begin production of the newly designed CardiCare Valve heart valves. As part of the superintendent’s teams I have created a plan to identify various strategies available to build teams, challenges or barrios and measures used to determine if the team is operating successfully. The plan is divided into two sections Team Strategy Plan and Conflict Management Plan. * * Team Strategy Plan: * There are five stages of group development forming, storming, norming, performing, and adjourning. The first stage forming is where team members meet and exchange information about each such as experiences and backgrounds. In this stage team members are accepting and avoiding conflict. The second stage is storming team members have different opinions of how and what thing should be done and who should be in control. This may cause some conflict within the teams. The third stage is norming where teams begin to work more effectively together. Team members respect each other’s opinion and differences. The fourth stage is performing teams are fully functional and accepted. Members have gotten to know each other by this stage and are able to the task at hand. The last stage is the adjourning stage where the task is coming to an end. * * One of the challenges we must teams face is conflict. Conflict can result in increase in turnover rate,...
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...Strategic Plan, Part II: SWOTT Analysis BUS/425 03/22/2014 Gregory Kosicki External SWOTT Analysis Strength Weaknesses Opportunity Threats Trend Global | Only local so has no affect on global trend | Stiff competition when competing with global store | Being local in a major market affords opportunity for growth | Global furniture stores | Try to target the global market for globalization | Economic | Can grow economically because of the customer base | The cost in some states like NY is expensive | Getting located in NY provides growth opportunity | Loses because of not being currently in NY | Gain economic plans encouraging growth | Innovation | Encourage morale | The marketing strategy not being innovative enough | Being located locally allow noticability | Other store competition | Stay innovated as long as possible | Technology | Has a state of the art computers to maintain | If computers fail lose of info | Internet can endorse growth | The cost of technology can be expensive | Stay updated | Social | upholding humanity is employee motivation | technical management is not smart for a friendly environment | Good treatment to staff promotes productivity | technical management could have a bad affect socially | Treating worker good is a needed trend | Environment | Positive environment motivates emp | Weak social environment | Where the store is located | Global | Having reused items | Competition | One of a kind pieces | No marketing plan | Other...
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...Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. Strategy Strengths Weaknesses Communication Employees who speak about and bring ideas to the table Employees who feel a lack of connection to other members of the team Personalities and attitudes Employees who speak openly about ideas and accept others ideas in a professional manner Employees who may get worked up easily when spoken upon Conflict resolution Employees who resolves issues and conflicts easily and effectively Employees who may not work well under pressure or under leadership Identifying and creating objectives Employees of the team who may be creative and works well with creating plans and identifying right from wrong Employees who may not have the mindset of creating and planning out strategies Feedback Employees who provides helpful information and effectively communicate with the members about the choices being made Employees who may not speak on how they feel about the outcome but may speak on it outside the environment 2. Identify the team formation strategy that is most suitable for Riordan Manufacturing, and provide the rationale for the decision. Your response should be at least 100 words. The team formation strategy more suitable for this organization would include current employees and some new hires to provide an equal ratio. The decision is based on the right give all employees a chance to work together...
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...Distribution Plan and Promotions Strategy In determining my distribution strategy, I have decided that I would leverage by using stores in different regions, however, the stores would have to accomplish the same strategy but for the demographics within it. Although selling online is a good option, I highly believe that my product would not leverage well. I’d hire a sales team that is exceptional at selling directly to suppliers as well as door-to-door. Having face-to-face contact with an “expert” of the product or service is great, because not everyone has access to the web. I recommend low cost provider strategy. This strategy helps strive to achieve lover overall costs and then using that low cost advantage to attract a wide range of buyers with a lower priced product offering than that of my competitor(s). I’d also seek focused strategy based on low costs, because this will allow me to concentrate on a narrow buyer segment and beating my rivals by having lower costs, this being in position to win buyer favor by means of a lower priced product offering. Lastly, best cost provider strategy. I am reaching to strive to achieve a competitive advantage over my competition by developing the capability to incorporate upscale product attributes at a lower cost than that of my rivals. It allows my company the ability to give customers more value for their money by underpricing rivals whose products have similar attributes. Best cost provider strategy is a hybrid strategy that blends...
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...University of Phoenix Material Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. |Strategy |Strengths |Weaknesses | |Common plan and Purpose. |Well defined clear communication detailing |Having too many different agendas and cause| |Team members, identify mission, goals, and |goals and purpose will enhance the |confusion within the team. | |strategies. Each person can have clear |organization. | | |understanding of steps needed to accomplish| | | |this. | | | | | | | |Team efficancy. |Team can accomplish the goals and missions |If team members lack certain skills then | |The ability to succeed. |identified by the team. |this could limit the team’s level of | | | |success of a mission. | ...
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...formal written plan for your business or just a bunch of great ideas in your head, there are always going to be goals you set out to achieve. You will often think in terms of what do I want to accomplish in the next six months, as well as where do I want to be in five years. These short and long term goals are what drive your business. From a planning standpoint, you must also develop short and long term strategies to reach these goals. Short term strategies revolve around cause and effect actions. You will institute an action and then measure the result. For example, if you run an ad in the paper, or send out a direct mail coupon, you can easily track your response rate. Depending on the amount of new business you generate, you can assess the effectiveness of the campaign. Most of the time, these strategies involve costly advertising, so you must be sure you are reaching your target market, as well as prompting a "call to action" from potential customers. Other examples of short term strategies are Internet websites, informational brochures, press releases, trade shows, and product samplings. All these can be used to create a cause and effect reaction from consumers. These are crucial in launching a new business as well as growing an existing one. As long as your are reaching your target market, these activities will provide an immediate return on investment. If they don't, then your overall advertising message needs to reevaluated. Long term strategies are much more subliminal...
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...Blue Ocean Strategy Plan MKT/421 Introduction In today's competitive market where companies attempt to outperform one another by creating a brand new product or adjusting an existing product in attempts to appeal to a larger customer base are referred to as a Blue and Red Ocean strategy plans; “Red Oceans represent industries in existence today, and the industry boundaries are defined, accepted, and the competitive rules of the game are understood. Blue oceans denote all the industries, not in existence today- the unknown market space untainted by competition." (Kim & Mauborgne, 2004, p. 82(10), 76–84.). Movie theaters are one example of a Red Ocean. Initially, individuals would watch movies at a drive-in movie theater that later progressed to indoor movie theaters where customers were given the opportunity to purchase foods and beverages. In attempts to outperform standard movie theaters, iPic Entertainment, LLC created iPic movie theaters which offers movie goers a luxury movie theater experience by offering a chef-driven menu instead of standard movie theater concession stands, comfortable lounge chairs, blankets, and pillows while watching movies, and a lounge area where customers can purchase mixed drinks and cocktails. (iPic Entertainment, LLC, n.d.). Description of a Blue Ocean Strategy and its Importance The automotive industry is one example of an organization that creates a Blue Ocean strategy plans within its...
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...JC PENNEY STRATEGIC MARKETING PLAN 2012: PRODUCT STRATEGY A Paper Submitted to the Graduate Faculty of the North Dakota State University of Agriculture and Applied Science By Alisha Liane Ostlund In Partial Fulfillment for the Degree of MASTER OF SCIENCE Major Department: Apparel, Design, and Hospitality Management April 2012 Fargo, North Dakota North Dakota State University Graduate School Title JC Penney Strategic Marketing Plan 2012: Product Strategy By Alisha Liane Ostlund The Supervisory Committee certifies that this disquisition complies with North Dakota State University’s regulations and meets the accepted standards for the degree of MASTER OF SCIENCE SUPERVISORY COMMITTEE: Linda Manikowske Chair Holly Bastow-Shoop Jaeha Lee Gerry Macintosh Approved: 04-24-2012 Date Holly Bastow-Shoop Department Chair ABSTRACT The JCPenney Company has undergone a transition from a value retailer to a streamlined, customer-driven retailer in order to set itself apart from its biggest competitors, Macy’s and Kohl’s. Previously, JCP was focused on general, storewide promotions. Currently, JCP has retooled their image to reflect a standard set of prices and special savings. In this exploratory look at JCP’s merchandising strategy, both previous and new methods are examined and additional steps to improve the returns on merchandising investments are offered. During this study, a detailed examination of JCP’s internal and external environments has been conducted, and an analysis...
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...Team Strategy Plan Micah Flores MGT/311 March 20, 2014 John Humphries Team Strategy Plan Both in the past and contemporary organizations have used teams in business to change or enhance their operations or production. Although times have changed the beliefs and opinions of the use of teams within the organizational structure of given companies, the debate continues over which situations are best suited for teams to benefit the organization, and the type of team to create for a given company. Strategies for the creation of teams in business vary, and each has its own strengths and weaknesses. The key for any organization in the implementation of teams is to evaluate which type of team will successfully enhance the organization in accordance with the type of work and employees to perform that work. As a superintendent for Riordan Manufacturing, Inc., I will work to determine the most beneficial type of team to maximize production of the newly designed custom heart valves at the Pontiac, MI location. There are various strategies in the formation of teams for business purposes. One such strategy is known as the problem-solving team. Teams constructed and labeled as problem-solving are usually informal in nature and do not accomplish much in the grand scheme of things organizationally. They are usually comprised of no more than 12 employees, most likely at the same pay level and from the same department within the company. The meetings between members of problem-solving...
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...University of Phoenix Material Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. |Strategy |Strengths |Weaknesses | | |Managers control who is put in what team |Efficiency of team member’s performance is | |Capability and personality of team members |Set limits on what members can do |centered on skills and abilities to perform task.| |Member Preferences |Manager considers employees preference for |Threat to team morale if member fails to actively| | |working in teams or not. |participate. | | |Teams morale is likely to be higher and |Members may team player attitude but lack | | |high performing |ability. | | |Members selected to fill specific roles |Team members playing multiple roles might | | |Place able workers in central roles of team|experience burnout. | |Allocation of Roles Diversity | ...
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...University of Phoenix Material Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. |Strategy |Strengths |Weaknesses | | |Members are often positive in this stage. |Can be stressful and promote feelings of | |Forming |The Culture of the group is formed. |anxiety because of the uncertainty of a new| | | |group. | |Storming |Establishes structure. Also forms processes|Team members may challenge each other’s | | |that the group will fallow. Gives a way to |authority. Members may show negativity | | |work out conflict. |toward other group members if they feel | | | |that their individuality is being | | | |constrained. | |Norming |Differences are resolved. Stengths of |Suseptible to rolling back to storming | | ...
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...Strategy Development Plan Snead's Dry Cleaning Company has been established and successfully operating area near downtown Washington, Dc tor past 30 years. It is being run under the sole proprietorship by Sheldon Snead's l6lde. The company has a large customer base and provides dry cleaning services for women and men clothing items. The customers can choose to pay either at the time of picking up the items, or by monthly credit card billing. At the end of each month the customers are sent statements itemizing service fees and the charge tor the services to their credit cards for payment. The business will take on to provide concierge pickup and drop off service for dry cleaning and laundry in areas nearby downtown Washington, DC. The business is planning to utilize modem equipment that could handle more throughput as the operating times has been increased from 9 to 16 hours per day. The huge regular customer base is the indication of high service quality and enhanced image of Snead’s Dry Cleaning Company. The sales forecast gradually increase over the next few years based on some basic changes in the operation of business. The Snead’s Dry Cleaning Company earned $580,000 in the previous year, by increasing the operating times and initiating pickup/ drop off laundry service the sales will increase and the business will be able to retain its current customers and attract potential customers. Strategic Objectives: • For providing the laundry and dry cleaning services for...
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...unsatisfactory, you will be permitted to resubmit the assessment. Refer to RGIT reassessment policy and procedure. 6. Unless the assessment task specifically allows pair work or group activities such as brainstorming, you must submit their own original work and are not permitted to copy the work of other students. Plagiarism is never acceptable. 7. Assessments must be submitted on their due dates. 8. Extensions are permitted in consultation with the trainer. Performance objective Candidates will demonstrate knowledge and skills required to influence groups and individuals. Assessment description Using the workplace scenario information provided, you will plan the implementation and resourcing of an organisational change strategy, consult with various stakeholders, and implement a key part of the change strategy. At all stages, you will build support for the implementation. Note: You will need to keep copies of the work you undergo in this Assessment Task for further use in Assessment Task 3. Procedure 1. Review the simulated business documentation, including policies and procedures, in Appendix 1 ‘Max Lionel Realty’. Review templates contained in Appendix 2 ‘Templates’ for possible use or adaptation in completing assessment task requirements....
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...alignment so that employees engage and enjoy work (as much as is possible) 3. Another way to consider the necessary components of rewarding people is to view them as individuals, within their team, in the organization and generally in the workplace:- 4. Recognition being appreciated, not taken for granted, having a voice 5. Organizational culture being able to engage and fit with the organization in terms of its values and how things are done Describe five (5) common ways a total rewards strategy can go astray. 1. Simply copying another organization’s reward practices can lead to disaster, 2. It would be harmful for either firm to adopt the reward practices of the other. 3. Not implanting an effective award strategy 4. No considering the employees communication strategy 5. Not following the strategy the way is was implemented Describe the six (6) steps in designing a total rewards program. 1. Set the total reward strategy. With the business context in mind, an organization can develop guiding principles for its total reward programs, which will provide the overarching framework for future reward program decisions, as well as form the basis for a strategic change agenda around reward priorities. Guiding principles should include degree of emphasis, competitive positioning, cost effectiveness, flexibility/uniformity, risk-sharing and performance link. 2. Define the context and issues. The...
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