Description
Assignment 1 Steps Content
Assignment 2 Steps
Assignment 3 Steps Content
Assignment 4 Steps
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Hello! The answers are ready. Hit me up for any edits to the answers. I also attached a Break analysis spreadsheet with the formulaes.
Running Head: FINAL STRATEGIC PLAN
1
Final Strategic Plan
Name
Institutional Affiliation
Date
FINAL STRATEGIC PLAN
2
Contents
Executive Summary ...................................................................................................................................... 4
Company Background .................................................................................................................................. 4
Mission Statement......................................................................................................................................... 5
Vision Statement ........................................................................................................................................... 5
Value Statement ............................................................................................................................................ 5
Environmental Scan ...................................................................................................................................... 5
AAON, Inc. Environmental Scan ............................................................................................................. 5
Creating Value and Sustaining Competitive Advantages Using Environmental Scanning .................. 6
AAON, Inc. External Environment........................................................................................................... 7
Political ................................................................................................................................................. 7
Sociocultural ......................................................................................................................................... 7
Economic .............................................................................................................................................. 7
Ecological ............................................................................................................................................. 8
Technological ........................................................................................................................................ 8
General Environment ............................................................................................................................ 8
Industry Operating Environment .......................................................................................................... 8
Internal Environment Analysis ................................................................................................................. 9
Important Strength and Weaknesses ..................................................................................................... 9
Competitor Analysis ........................................................................................................................... 10
Organizational Structure ..................................................................................................................... 10
Competitive Position ........................................................................................................................... 11
Strategy Recommendation .......................................................................................................................... 11
Business-Level Strategies ....................................................................................................................... 11
Corporate-Level Strategies ..................................................................................................................... 12
Global Strategy for the Organization ...................................................................................................... 13
A strategy that the Company Can Implement ......................................................................................... 13
Implementation Plan ................................................................................................................................... 14
Objectives ............................................................................................................................................... 14
Functional Tactics ................................................................................................................................... 14
Actionable Items ..................................................................................................................................... 15
Milestones and Deadlines ....................................................................................................................... 15
Tasks and Task Ownership ..................................................................................................................... 15
FINAL STRATEGIC PLAN
3
Resource Allocation ................................................................................................................................ 16
Change Management .............................................................................................................................. 16
Key success factors, budget, and forecasted financials........................................................................... 16
Risk Management Plan ........................................................................................................................... 17
Conclusion .................................................................................................................................................. 18
References ................................................................................................................................................... 19
FINAL STRATEGIC PLAN
4
Executive Summary
AAON is an American company that designs and manufactures heating, ventilation and
air conditioning equipment. The target consumers are both commercial and residential. The
organization is considered to be a leader in its industry. However, it is lagging behind major
players in the industry such as Lennox International which is by far one of the largest company
in the industry. AAON has been forced to find new measures that it can put in place so as to
compete more effectively with these organizations. The target for the company is to grow its
market share as well as profits which are lower as compared to the others. The market has many
opportunities that the company can take advantage of and grow to become one of the largest
companies in the United States and even the world.
An environmental analysis showed that the company faces many threats but has several
advantages in the form of strengths and opportunities. Leveraging on the current weaknesses is a
priority in the implementation of the plans conceived from an analysis of the organization. Some
of the identified strategies include cutting costs and entering new international markets in an
effort to increase productivity. Furthermore, horizontal integration is highly recommended for
the organization if it wants to succeed in the future. One of the areas that the organization can
target is technology which is highly becoming popular. The following is the final strategic plan
that AAON can implement so as to grow its value.
Company Background
AAON is an American company headquartered Tulsa, Oklahoma, United States. It was
founded in 1988 and currently has 1,392 employees who provide a wide array of services
ranging from design, manufacture and sell of heating and ventilation equipment for commercial
and residential uses. Its major markets are the United States and some provinces in Canada. The
FINAL STRATEGIC PLAN
5
organization further deals with direct clients where goods are shipped directly from its plant to
the job site. The organization also uses suppliers who supply its products in over 12 countries.
Furthermore, it has a revenue of over $400,000,000 which is relatively smaller as compared to its
competitor Lennox International with $3 billion. There is stiff competition in its industry and the
organization seeks new ways that it can leverage its position and increase its revenue in an
industry characterized by high demand.
Mission Statement
Defining Quality. Building Comfort. AAON is a world leader in creating comfortable and
healthy indoor environments, efficiently, through the manufacture of premium HVAC
equipment.
Vision Statement
AAON is leading the company into a bright green future. Committed to providing a cost
effective, energy efficient, and productive work environment, AAON has been replacing
inefficient incandescent and fluorescent lighting with LED lighting fixtures.
Value Statement
AAON has joined Sustainable Tulsa in creating an AAON Scor3card and is creating more
sustainable manufacturing processes throughout the company (Tulsa, Longview and Parkville).
We also recognize that sustainability is both profitable and economical.
Environmental Scan
AAON, Inc. Environmental Scan
Environmental scanning is a process that gathers information concerning events and how
they are related to a company's external and internal events. The main purpose of conducting an
FINAL STRATEGIC PLAN
6
environment scan is to determine the direction that the company will head towards in the future.
This can be achieved by understanding certain factors such as the Strengths, Weaknesses,
Opportunities, and Threats that the organization has. The information gained from an analysis of
these factors then forms a basis of coming up with a new direction or goals that need to be
achieved. This report will determine how environmental scanning can help AAON, Inc. plan for
its future and ensure that it's a success.
Creating Value and Sustaining Competitive Advantages Using Environmental Scanning
An environmental scan allows the organization to understand whatever is happening
outside and inside the organization allowing for an increased probability to develop good
strategies that reflect on the company’s environment. In business, rapid changes are needed to
add value. These changes cannot be just made without a clear basis. Management has to
understand different aspects of its environment (Martinez et al., 2019). For instance, a SWOT
analysis shows the company its strengths, weaknesses, opportunities, and threats that they face.
Rapid changes will be based on these four factors that reflect entirely on business environments.
For instance, using SWOT analysis, AAON, Inc. can identify strengths and advantages
that the organization possesses. These advantages can be improved on or used to create a better
value for the organization. Also, weaknesses offer AAON, Inc. with the chance to identify its
shortcomings and improve on them. The shortcomings derail the business and need to be
improved on in a bid to increase value. Opportunities are advantages that the organization can
actually capitalize on and add to its list of strengths. Furthermore, threats are issues that AAON,
Inc. needs to shield itself from. Threats are a common part of the business environment and
shielding them to avoid their effects is a necessary exercise that should be carried out from time
to time (Phadermrod, Crowder, & Wills, 2019). The use of SWOT analysis will also allow the
FINAL STRATEGIC PLAN
7
company to come up with strategies aimed at maintaining a competitive advantage for the
organization.
Another environmental scanning approach that can also be used is PESTLE analysis. PESTLE
looks at political, economic, social, technological, legal and environmental factors that need to
be considered. They too can be used to add value and maintain competitive advantages that the
organization has.
AAON, Inc. External Environment
Political
AAON, Inc. runs an international operation where it operates in over 30 countries. In
each and every one of these countries, the organization has to adher...