Designing an Implementation Strategy
In this Assignment, you will culminate one Course Outcome based on your design of a plan to implement a future-oriented strategic plan of your Capsim Core simulation company:
MT460-5: Design a plan to implement a business strategy throughout an organization.
Once a strategy is developed, it must be implemented. If a sound strategy fails, it is usually due to poor implementation planning, monitoring, measurement and a lack of corrective action. Essentially, a strategic implementation plan is an action plan, enhanced with tools to monitor and measure how effectively and efficiently business activities are aligned with strategic goals and objectives. In this assignment, you will design an implementation plan that monitors and measures the alignment of your business unit and functional level business activities with your enterprise and corporate level strategies for your Capsim Core simulation company.
Implementation Action Plan Design Document
The implementation action plan you design will be a detailed document outlining processes and procedures for your chosen Capsim Core simulation company at the functional level (Research and Development, Marketing, Production, or Finance) of strategy. The initiatives and activities related to the functional level of strategy are carried out through the creation and enforcement of standardized processes and procedures. Policies and systems must also be reviewed and modified as needed to ensure success, but should remain aligned with the enterprise and corporate level strategies. You will use the Balanced Scorecard (BSC) methodology and Key Performance Indicators (KPI’s) to ensure all business initiatives and activities are linked directly to the enterprise and corporate level strategies to manage, monitor and measure performance of the implementation plan. The data in your Capsim Core Reports and the Proforma Report will be useful in the design of your implementation strategy. Use the following guidelines to design your implementation action plan:
- Develop an action plan to implement your strategy, to include the following components:
- Objectives: list of corporate (departmental) goals and objectives.
- Strategic Initiatives: list of strategic initiatives planned to achieve goals and objectives.
- Balanced Scorecard: an overview of how objectives will be achieved using the BSC methodology.
- Critical Success Factors: identify elements vital to successfully achieving objectives.
- Key Performance Indicators: list the key performance indicators for each objective.
- Time Frame: establish timeframes and deadlines for each initiative and task.
- Guiding Policies: list of policies needed to guide strategic initiatives.
- Enforcement Policies: list of policies needed to enforce accountability.
- Systems: what systems are necessary to support strategic initiatives.
- Processes: list of processes that will facilitate strategic initiatives across functional areas.
- Procedures: list of standard operating procedures that inform on task execution.
- Resources Needed: list common and uncommon resources needed to complete each initiative.
- Accountability: identify teams and roles that are held accountable for results and outcomes of strategic initiatives.
Your action plan will be supported by intensive evaluation and analysis of your strategies, company’s core competencies, tactics, and strategic controls. You will need to complete the following before developing your action plan matrix. You should use the
- Review and refine the goals and objectives at the enterprise and corporate levels of your Capsim Core simulation company. Pay special attention to the goals and objectives of your chosen department (Research and Development, Marketing, Production, or Finance). At this stage, you should have developed an entire organizational and departmental strategy to use for this assignment. Ensure your goals and objectives are designed appropriately using SMART principles.
- Review and refine strategic initiatives for your chosen Capsim Core simulation company department (Research and Development, Marketing, Production, or Finance). Ensure the strategic initiatives are aligned with the organizational and departmental goals and objectives before moving forward.
- Develop and Illustrate a Key Performance Indicator tree, including each component:
- Enterprise level strategic goals
- Corporate level (departmental) strategic goals
- Strategic Initiatives
- Critical Success Factors
- Key Performance Indicators
- In the format of a Balanced Scorecard strategy map, illustrate the relationship between dimensions of the Balanced Scorecard Methodology and your organizational and corporate strategy. Illustrate the alignment of organizational goals and objectives with the corporate (departmental) goals and objectives. Create and align critical success factors and key performance indicators with each corporate goal and objective. Relate the critical success factors and Key Performance Indicators with each dimension of performance in the BSC methodology. Be specific and avoid using generalizations when creating Critical Success Factors and Key Performance Indicators.
- Explain the relationship between the dimensions of the BSC methodology and your organizational and departmental strategy. Thoroughly explain the Balanced Scorecard strategy map you created.
- In a core competency diagram, illustrate the connectivity between your Capsim Core simulation company’s enterprise and corporate level goals and objectives, company’s strategic core competencies, and Key Performance Indicators. Be very specific and avoid using generalizations when establishing and aligning Key Performance indicators with your company’s core competencies.
- Explain how your company’s core competencies and the Key performance indicators are aligned with the enterprise and corporate level goals and objectives. Thoroughly explain how the Key Performance Indicators will measure achievement of the higher level goals and objectives.
- Use a minimum of three peer-reviewed research resources to substantiate your strategic decision-making.