Signature Assignment: Strategic Plan: Implementation Plan, Strategic Controls, and Contingency Plan Analysis

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About Your Signature Assignment

Signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements.

Purpose of Assignment

The purpose of The Final Strategic Plan is to allow the student to develop a comprehensive strategy for a new division of an existing company. This analysis will be the culmination of all the previous week's coursework as well as e objectives covered during their entire degree work.

Assignment Steps

Resources: Strategic Planning Outline and Week 5 textbook readings

Develop a minimum of 700-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.

  • Identify marketing and information technology as part of the strategies and tactics section of the business plan.
  • Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
  • Determine the best possible options for evaluating the strategic plan.
  • Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.
  • Show, in this section, the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation.

Prepare a minimum 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.

Note: Any investor should be eager to meet with you after reading your executive summary.

Use the Strategic Planning Outline as a guide, and combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Values, SWOTT Analysis, Supply Chain Analysis, and Balanced Scorecard and Communication Plan from prior weeks. Your consolidated final strategic plan should be a minimum of 4,200 words in length.

Format the paper consistent with APA guidelines.

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Explanation & Answer

Hoping you are doing great..Below is the response to the prompt above: let me know if you need edits.Thanks!!
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Running Head: FINAL STRATEGIC PLAN

Final Strategic Plan:
Nokia Telecommunication Company
Ricky Demoraes
BUS/475 Integrated Business Topics
June 29th, 2018

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NOKIA CORPORATION

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1. Nokia’s Business Model

Nokia Corporation is a company that was founded in 1865. This company major in the
manufacture of consumer electrons, information technology, and multinational
telecommunication products. Its headquarters are in Espoo, in the greater Helsinki metropolitan.
Over the years, the corporation has invested in various industries. It was initially founded as a
pulp mill and was being associated with cables and rubber. Later, in the 1990s the company
started to focus on large-scale telecommunication infrastructure, licensing and technology
development. Currently, Nokia is a prominent major contributor to the telephone industry has
contributed in the development of the 3G, LTE standards, and GSM and is known as the
company with the largest global vendor for mobile phones.
Nokia Corporation began focusing on its telecommunication infrastructure business after
a partnership with Microsoft and due to market struggle. The Nokia brand has returned to the
smartphone and mobile through a licensing arrangement with HMD Global. Finns viewed the
company with national pride due to its business making by far the largest company and brand
from Finland (Kapferer, 2015). Product and services from Nokia Corporation are marketed
globally. However, due to changes in customers’ preferences and taste and the advancement of
technology, the company has to be updated on the trending market design to satisfy all
consumers’ needs.

1.1. Introduction of a New Division
The new division aims at providing a new advanced mobile brand. The brand will be
referred to as Nokia Lite. Like the currently available smartphone, it will be able to access the

NOKIA CORPORATION

3

internet and all the basic functions but at an advanced speed. The main unique characteristic
about the Nokia Lite will be its processing speed and the storage. Nokia Lite will feature a very
high processing speed and also high storage capacity. The product should be able to give the
customer ample time while accessing the internet and also when there is need to store data.
However, Nokia has to convince the customer that the product is more advanced than the other
smartphones brands.
The marketing ability of the new product will fully depend on the ability of the
corporation to convince the customers to switch to the new brand and not the alternative options
(David, 2015). Therefore, the company has to implement marketing strategies such as
advertising, holding product launching ceremony to create awareness of the new product, using
the social media and other platforms to inform the customer more about the advanced
smartphone with the highest processing speed and storage capacity. Also, the corporation should
pay attention to the reaction of the customers to the new products to know whether the product
meets the customer need and make necessary changes if needed.
1.2.How the division will address customer needs and achieve competitive advantage
The product will be made to be affordable for its customers to ensure that an average
citizen can afford it. Therefore, the customers will be able to enjoy the advantages of the new
product at an affordable price. The division will also ensure that the products are available in
large numbers to meet the market demand and to ensure that the customers never run out of
supply. In addition, the corporation will ensure there is an online platform that will enable the
customers to post their suggestion, complains or comment, through which the company will be
able to act accordingly (Kaplan et al., 2016). The products will allow the users access the internet
very fast. The plan is to design a smartphone with the highest processor speed and storage in the

NOKIA CORPORATION

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market. Most of the smartphones currently on the market have low storage capacity and also the
processing speed. Therefore, the new product will have the competitive advantage over the other
competing products.
1.3.The Vision and Mission of the New Division
The vision and mission of the new division are to ensure that it maintains Nokia’s large
market share globally to facilitate the corporation to remain the number one company in the
selling of mobile phone worldwide. The new product will help maintain a healthy competition
with the company’s competitors in the market. Nokia will ensure that the new product fulfills all
customers’ demands, preferences and taste and will be able to realize their full potential in the
market.
1.4.Business Model for the New Division
In order for a new division to be a success in an organization, there has to be a distinct
business plan that conforms to the mission and vision of the company concerning the new
division. Nokia Corporation will pose as the producer of the product and sell the product to the
customers directly. Alternatively, the company may include middlemen to deliver the product to
the customers. The new product is expected to have an impact on the internal and external
environment of the business.
Nokia Corporation aims at targeting new growth opportunities in the markets to help
solve the emerging issues in the marketing sector. The vision of the new division is to ensure that
it maintains Nokia’s large market share globally to facilitate the corporation to remain the
number one company in the selling of mobile phone worldwide. However, the only disadvantage

NOKIA CORPORATION

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is that some people may consider the product to be somehow expensive thus preferring other
products.
In the market today all over the world, there are new emerging trends. The possible threat
is the possibility of steep or unhealthy competition between Nokia Corporation and other
companies offering substitute goods. With time, the advancing technology will create new
opportunities in the market. So far people can use the internet at a convenient speed. New
discoveries have been made that have ensured that the use of the internet is available to everyone
using their smartphones. This new product will provide a base for more research to be conducted
and ensure the phone features are updated to satisfy for the fluctuating desires of consumers.
1.5.The Value of the New Division and Its Guiding Principles
This item is relied upon to help in raising the organization's income and guaranteeing that
the desires of the partners are met. Great initiative of the new division is vital to guarantee its
achievement in the market. Skilled staff ought to be set up to organize the product improveme...


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