Capella University Management Strategic Plan Paper

User Generated

ponemrl1

Business Finance

Capella University

Description

The final step in developing your strategic plan is to translate your strategy into action. A robust action plan contains four elements:

  • Identification of specific actions to be undertaken in the next year or less.
  • Establishment of a clear time frame for the completion of each action.
  • Creation of accountability by identifying who is responsible for each action.
  • Determination of one or more specific, immediate objectives that the action should achieve.

Functional tactics and monetary ramifications are the underlying details of your strategic action plan. Functional tactics are short-term, narrow-scoped plans that detail the activities you will use to achieve your short-term objectives. The monetary ramifications of your strategic plan will likely be expressed in both income and expenses, for example, the amount of increased income anticipated by climbing the corporate ladder and the amount of money you may need to spend on education or professional development.

Note: Developing a strategic plan requires specific steps that need to be executed in a sequence. The assessments in this course are presented in order and should be completed in sequence.

In the previous assessments, you have developed your mission statement, conducted a personal SWOT analysis and environmental scan, and laid out your long-term and short-term objectives. Now, you will create a strategic plan to achieve your objectives.

Your completed Strategic Action Plan will be based on the information from your mission statement, your SWOT analysis, environmental scan, and your long-term and short-term plans; however, you do not need to include these items in this assessment.

Develop a strategic action plan in which you address the following:

  • Specific steps you will need to take in the next year to achieve your 5-year objectives.
  • A time frame for completing each action.
  • The scorecard you will use to measure the success of each action.
  • The functional tactics you will use to achieve your short-term objectives.
  • The resources (financial, human, and other) you will use to complete each action.
  • An analysis of the monetary ramifications of each action.
  • A plan for monitoring the progress of the action plan.
  • A plan for handling obstacles or roadblocks.
  • An explanation of how your overall strategic plan reflects your mission statement.

To successfully complete this assessment, you may need to do some research on strategic action plans. Format this assessment as a research paper following current APA guidelines for both style and citing sources, making sure that you also use correct grammar and mechanics. There is no required minimum or maximum page length; however, you should strive to be as detailed as possible in addressing each bullet point, while also being as clear and concise as possible. 

Explanation & Answer:
3 pages
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Explanation & Answer

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1

Management Strategic Plan

Student's Name
Institutional Affiliation
Course Code
Date

2
Reflection of Strategic Plan on the Mission Statement
The mission statement offers a clear description of the reason for the existence of the
business project. Lobbying the company, the mission statement's reality is highly dependent on
the needs captured and highlighted in the strategic plan. The path of the strategic plan should be
clear and illuminated with proficiency and integrity to realize the vision in the marketplace. The
business's strategic plan will be intricately linked with the mission statement as the foundation of
keeping the organization on its project course. Necessary changes will be done on the strategic
plan if the marketplace does not respond to give meaningful impact towards the realization of the
company mission statement. The underlying customer perspective and experience in the market
will be captured in the strategic plan as a way of serving the best interests of the key
stakeholders.
Relevant Resources to Complete the Steps of the Strategic Plan
The strategic plan process defines the roadmap to the success of the new project or
business innovation. The resources needed will be captured as the key internal and external
drivers of change and impact to the underlying mission statement. The first and most important
resource is fully trained employees and empowered experts (Olson et al., 2018). Experts in
defining the green technology systems of production and service delivery offer the essential
skillsets for shifting the company towards a mission statement and goal realization. The experts
should be dependable, flexible, and prof...


Anonymous
Excellent resource! Really helped me get the gist of things.

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