Strategic Plan: Implementation Plan, homework help

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Business Finance

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Follow the instructions based on decision to complete the Strategic Plan or Alternative Capstone Project:

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

Write a 1,400-word minimum strategic implementation plan in which you include the following:

  • Create an implementation plan including:
    • Objectives
    • Functional tactics
    • Action items
    • Milestones and deadlines
    • Tasks and task ownership
    • Resource allocation
  • Recommend any organizational change management strategies that may enhance successful implementation.
  • Develop key success factors, budget, and forecasted financials, including a break-even chart.
  • Create a risk management plan including contingency plans for the identified risks.

Format your paper according to APA guidelines.

Click the Assignment Files tab to submit your assignment.

Alternative Capstone Project with Live Client

Create a 1,400-word minimum strategic implementation plan.

Include the following:

    • Objectives
    • Functional tactics
    • Action items
    • Milestones and deadlines
    • Tasks and task ownership
    • Resource allocation
  • Recommend any organizational change management strategies that may enhance successful implementation.
  • Develop key success factors, budget, and forecasted financials, including a break-even chart.
  • Create a risk management plan including contingency plans for the identified risks.

Input relevant data into the "Financial Plan" section of LivePlan®, as appropriate.

Note: You will not use all of the financial statements or reports. You will only use those sections that are relevant to the client problem and solution.

  1. Click on the "Plan" tab at the top of the screen.
  2. Locate the "Financial Plan" section on the left side of the screen.
  3. Click the arrow next to "Financial Plan."
  4. Find "Revenue Forecast," "Personnel Plan", and "Budget", links.
  5. Click the "Get started on writing this item" on the right side of the screen.
  6. Input your Financial Plan, as appropriate for the client.

Input relevant data into the "Financial Statements" section of LivePlan®, as appropriate.

Note: You will not use all of the financial statements or reports. You will only use those sections that are relevant to the client problem and solution.

  1. Click on the "Plan" tab at the top of the screen.
  2. Locate the "Financial Statements" section on the left side of the screen.
  3. Click the arrow next to "Financial Statements."
  4. Find "Profit and Loss Statement."
  5. Click the "Get started on writing this item" on the right side of the screen.
  6. Input any financial data that is relevant to client problem and solution.
  7. Locate the "Milestones" link under Strategy and Implementation on the left side of your screen.
  8. Add your relevant Financial Plan and Financial Statements to your Milestones.

Submit your completed statements to your instructor as well.

Format your paper according to APA guidelines.

I RECOMMEND THE STRATEGIC PLAN WITH CONITINUED SUBJECT "SELECTIVE INSURANCE"

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Explanation & Answer

Attached.

Selective Insurance Group Inc. Strategic Plan Implementation
I.

Implementation plan
a. Objectives
b. Functional tactics
c. Action items
d. Milestones and deadlines
e. Tasks and task ownership
f. Resource allocation

II.

Recommend any organizational change management strategies that may enhance
successful implementation.

III.

Develop key success factors, budget, and forecasted financials, including a break-even
chart.

IV.

Create a risk management plan including contingency plans for the identified risks.


Running head: STRATEGIC PLAN IMPLEMENTATION

Selective Insurance Group Inc. Strategic Plan Implementation
Student’s Name
Institutional Affiliation

1

STRATEGIC PLAN IMPLEMENTATION

2

Strategic Plan Implementation
Notably, strategic plan implementation is a procedure whereby institutions turn strategies
into actions in the process of accomplishing the strategic organizational goals and objectives
(Rothaermel, 2015). Besides, Selective is one of the regional corporations, which deals insurance
sales in the market. In the recent past, the enterprise has faced disparate uncertainties resulting
from environmental changes as well as the changing global preference of insurance coverage and
premiums. Notably, the rise in insurance premiums and increasing road accidents from young
drivers has influenced the price of the organization insurance covers, whose primary products are
life and alternative risk management. As a result, the Selective administration has embarked on
disparate tactics aimed at enhancing the sustainability of the enterprise, for example, product
diversification, market penetration, market growth and diversification of the products. Hence, to
intensify the capability of realizing the core objectives by embarking on the primary
organizational strategies, it is critical for the Selective Insurance to adopt a suitable technique
implementation plan to enhance the company in realizing its key objectives.
Selective Insurance Strategic Plans Execution
Strategic Objective
Notably, Selective Insurance Group Inc. strategic objective is to enhance the
sustainability of the organization amidst different uncertainties faced in the local and regional
market, such as the promotion of low-carbon emission to reduce environmental issues as well as
increasing price variation for the organizational products. Besides, the tactical goal is focused on
increasing the market share of the organization, as well as achieving a diversified product
portfolio that would play an elevated role in the sustainability of the enterprise in a volatile
industry.

STRATEGIC PLAN IMPLEMENTATION

3

Functional Tactics
Correspondingly, the functional strategies are used in the procedure of backing up other
institutions as well as organizational strategies by assigning variance goals to particular units
(Goetsch, & Davis, 2014). Thus, the company’s functional tactics execution will take place from
different departments, such as the market research department, and product development
divisions. Firstly, one of the core pillars of the strategic objective by Selective is market
penetration that is a function, which would be enhanced by the research department, while the
market growth would be executed by the marketing department. Moreover, the product
development, as well as market diversification, is another tactical function, which would be
implemented by the product development team in t...


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