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

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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.

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Dennerlein Proposal of a New Division Joanna Dennerlein Bus/475 4/30/18 Victor De Jesus Toyota New Product Division Dennerlein Introduction Toyota Motors is global manufacturing company that deals with manufacture, sale and assembling of motor vehicles and their spare parts. Its headquarters are in Toyota city in Japan where it was founded by Kiichiro Toyoda in 1937.It manufactures different brands of motor vehicles and motorbikes which are widely accepted. The company sells its products to many countries. It also has various manufacturing companies in different cities of the world. Due to its well-planned management strategy, it is able to have large sales volume from exports. This ensures high profitability. Having different manufacturing companies in the world, this helps bring products and services closer to the customers. This shows that it has a very strong distribution network. Many companies have been set up to compete with Toyota but it has remained one of the most reliable companies. It produces quality products while focusing on innovations in vehicle brands. Unfortunately, it hasn’t advanced in terms lubricants. The New Toyota Division Product The production of different motor vehicle lubricants will enhance the core values and vision of the company. Lubricants ensure that the motor vehicles are serviced and their parts do have a long lifespan. The product in the new division will help meet the expected standards of the company and will go in line with the vision of the company to offer quality and durable products The mission will be, to have many customers with high-quality products (Hubbard and Galvin 33). The vision will be, to become the most reliable and respected company in the world. Lubricants will have different types to fit the vehicle brand needs and ensure customer needs are met. All these lubricants will be packaged in cans and will have different ratings and quantity in terms oil thickness and thinness. Prices will also vary with quantity to accommodate different customers. Motor oil is used to control breakdown, reduce parts wearing out. Grease ensures that the steering parts remain intact. Gear oil is used to control temperatures especially Dennerlein when it is high. Electronic grease which doesn’t conduct electricity helps reduce the heat that builds up in a vehicle. Graphite lubricant is used in door locks to ensure they are free from oil. The purpose of having different kinds of lubricants is because of different vehicle parts which require different servicing. This product ensures vehicle parts last longer and many customers will save their money from frequent breakdowns. Customer Needs and Competitive Advantage Toyota new product division will look into customers’ needs in various unique ways. These lubricant containers will be labeled smartly and clearly to ensure a customer takes what is required thus ensuring customer satisfaction. Frequent and loyal customers will get discounts on our products. This improves the customers’ confidence in the company. Packaging the product differently in terms quantity ensures portability as the customer can easily carry during travel. It gives the company confidence, respect and helps it remain more competent in the market. The division will also work on a strong distribution strategy. This is to make sure that the product has a direct link with the customer who needs it. Timely and instant product manufacture will also make sure a customer doesn’t go unattended. A quality product is what keeps a customer and this will improve competitiveness in this division. In case of customer complaints, the division will make a thorough follow up and make sure the issues are resolved to a customer’s satisfaction (Motohashi 239). Through the consistent provision of reliable, quality and presentable products, a customer will always choose the division for its products. Business Vision and Model Referring to the vision is the most reliable and respected company in the world, the division will consistently deliver and sell products to the customers. The division will manufacture enough products to meet the demand and supply to our customers. This also Dennerlein ensures affordability in the market. Through packaging in different quantities, types, and cans, the customer will have an easy time choosing what he or she needs. In the division, we will put up a nice display of the products on our shelves to enhance proper identification by our clients. The model used has to be unique and will ensure more productivity. In this division, we will adopt a cost-effective model. This means that we will operate at low cost and thus having fewer expenses. This also means buying products for use in our division at a lower cost in the shortest time possible to meet our customers demand. Another model is proper coordination with our suppliers of raw materials. This will help us acquire high-quality materials for a lower price. Another model is production quality where our division will be keen in the production process to ensure quality output. This will ensure we are in line with our mission and vision of being a respectable company globally. Aligning Division with the Company The mission and vision of the company go hand in hand with that of the division. Focus goes to the customers and the quality of products sold to them. Just like the company, the division targets many customers by offering high-quality products. The vision is to ensure the company is respected and the division ensures that by offering quality products and selling as many products as much through our various distribution channels. The mission on the other is about creating a big customer base through quality and the division does that through competitive business models which help reach out to many customers as possible. Proper management ensures that the mission and vision are adhered to. Without this, the division and even the company will count losses. Management also plays a big role in shaping the future of the company and division. High levels of integrity are valued in the division to ensure no one goes outside the rules that will not go in line with the missions and Dennerlein vision of the company. Quality is another issue that makes the division well aligned with the mission and vision of the company, it ensures quality product sale. Strategic Direction When a division adheres to the rules, values, vision, and mission that guide the company, it becomes easy to have a strategic direction towards more growth and meeting all the goals a company sets. The vision defines why the division was created and why it stands. The mission shows the objectives of a company which the division must undertake as well. With these clear definitions, the division is able to stick to the main agenda it is mandated with (Maddocks 3-4). Leaders and staff in the division are required to play their roles effectively and in return, this will help guide the division into a good strategic direction. Integrity in the division will ensure that the company retains its reputation. Quality of products also determines the strategic direction in that it promotes continued production and profits. Therefore, following the vision and mission statement well ensure a good strategic direction for the company. Guiding Principles Quality products and customer satisfaction is the main driver (Nkomo 4). For proper and legal operations, the division will ensure it follows government regulations in offering its products. Ethically, fraud and poor quality production won’t be tolerated since that goes against the company’s mission. In case of integrity issues, one will be subject to scrutiny and also could get fired (Blankenship 185). The division will uphold environmental cleanliness by disposing of waste as required. When it comes to employment, the locals will not be left behind and will earn a livelihood in the division. It is also good to follow the cultural practices where the division is set, this will promote social cohesion and also improve the division’s mission of a high customer base. In Dennerlein dealing with the locals, the division will ensure there is no discrimination of any kind towards employees or the customers. In ensuring a peaceful work environment, the division will promote good working relationship to ensure good cohesion. .It would be vital to indicate that workers need good incentives. They deal with customers mostly and this will help motivate them to ensure their output is good. This will guide in meeting what the mission states. Punctuality cannot be overlooked as a guiding principle, it is so important to ensure timely product service to the customer. This ensures good workflow All the above are in line with mission and vision statement of the company. Having them work jointly will ensure large volume sales, more customers and increased profit margins. The growth will be enhanced and will further motivate the company in enlarging its territories. Increase in employment opportunities will see many get to earn through our division and the company at large. It will be hard to look elsewhere for products since our quality is irresistible. Works Cited Blankenship, James C. "SCAI's Future: The 2016 Strategic Plan." Catheterization and Cardiovascular Interventions 87.2 (2016): 183-187. Web. Hubbard, , Graham E. Al, and Peter Galvin. Strategic Management. Sydney: P. Ed Australia, 2014. Internet resource. Maddocks, Tom. "Coping With The Media In A Crisis: Succeeding Where BP And Toyota Have Failed." Strategic Direction 29.6 (2013): 3-4. Web. Running head: SWOTT ANALYSIS SWOTT Analysis Joanna Dennerlein Bus/475 May 7, 2018 Victor De Jesus SWOTT ANALYSIS 2 SWOTT Analysis of the new Toyota division Product SWOTT analysis is crucial while examining the internal and external factors influencing a market or product. It is the most renowned tool for audit and analysis of overall strategic position of the business and environment in which it operates. It views all the positive and negative factors that arise inside and outside the firm. This factors usually have great impact on the growth of a company. In existing businesses firms adopt SWOTT to determine their position in the market places. SWOTT offers a company choices to determine the possible strengths, weaknesses, opportunities, threats available and future trends of the market. SWOTT is split into two categories which include external and internal factors. A consistent study of the environment where a firm operates, changing trends also help in the process of decision making. This paper will depict an in-depth understanding the internal and external factors affecting the Toyota new division product. The analysis will present an in depth understanding Toyota division ought to offer the best quality services to its customers but the SWOTT considerations must be put in place. Once they are analyzed the company can generate revenues with ease. SWOTT ANALYSIS 3 SWOTT Table for Toyota new product division Strengths Weaknesses Opportunities Threats Trends 1. The company enjoys a solid financial position 2. It employs and advanced Toyota Production System (TPS) 3. use of advanced technology and capabilities 4. The company has strong leadership structure and positions 1. The company relies heavily if Japanese and American markets 2. There is a concern about the passenger’s safety. 3. Increasing product recall 4. The company is appearing weak in emerging markets 5. Limited flexibility due to company’s size large size 1. The company has invested on automated driving technology 2. Possibility of product and business diversification 3. The product is focused more on developing and emerging markets 4. It has concentrated in development of more improved electric cars 1. Intensified innovative competition from other producers 2. Oil prices fluctuations 3. Increased concerns about safety and health 4. High costs of raw materials 1. The company has been complying with necessary legal requirements 2. The company has an evergrowing GDP 3. Has continued to support new businesses 5. Toyota concentrates on customer’s needs External forces and trends considerations Assessing external environment helps strategy planners identify key opportunities and threats in the environment and compare them with internal strength, weakness and trends of the firm. Legal and regulatory forces SWOTT ANALYSIS 4 Being a key aspect in the current growth of businesses Toyota new division should ensure that their product legal requirements have been met. Registration of this lubricant product should be put in place. The business should also acquire a legal permit to enable it carry on its operations. At Toyota new division technology has also been adopted to ease the accessibility of the product. Though this is a crucial are New Toyota has ensured that only reliable transactions are made through this websites. Regulatory bodies pertaining technology privacy have been put in place. Through this the company result the long run have been boosted. Economic Factors As the introduction of this new product in the market is significance the economy of the country too will push toward generation of revenues. The profitability of company is determined by growth per earning share. New Toyota division will take into account the present economic trends. Due to the use of cars all over the world the motor lubricant product is a strength in the market. Through understanding of this economic condition new Toyota will develop a competitive market. Technology The new Toyota has adopted technological approaches Because of the current drift in advancement of technology, New Toyota division has adopted this. Technology positively or negatively affects the growth of a company. If used appropriately with all security measures the well-being of New Toyota division will be seen. On the other hand technology is a threat since it can tarnish the image of the company if used inappropriately. Competitive analysis SWOTT ANALYSIS Toyota motors being a global company is at a safer side introducing the new division product. First the company image is good and also individuals are conversant with this industry. The company brands are also well known. Introduction of this lubricant will ease its penetration in the market since it can be sold together with other Toyota brands. Internal factors Strategy Toyota new division have strategized in a product that is new in the market. Toyota motors in the past have not produced motor lubricants. As a result this entry of this new product will be adopted in the company positively. Toyota new division have ensured that its motor lubricant products are widely available to all. Goals In the mission and vision definition the main goal of Toyota new division is to provide customer satisfaction. This will be seen through provision of quality motor lubricant products at the most affordable cost. New Toyota division will also ensure that its customers are always given the first priority. In turn this will 5result to generation of higher profits while building the goodwill of Toyota Company. Culture This is a basic key on whether the need of the customers is supplied in relation to their cultural beliefs. Toyota new division has ensured that all people’s different cultures are preserved. Through production of lubricants which meet the demands of the customers without 5 SWOTT ANALYSIS 6 necessarily affecting their personal beliefs. This will promote social cohesion and improve division’s mission of customer’s base. Strategies and capabilities Toyota new division have put into consideration the capabilities of possible threats in the market. This can be as a result of price wars, increased completion leading to excess capacity, unrest among employees thus reducing the company’s profits. The following can internally affect the organizations thus stability and survival can be at stake. Toyota new should ensure that its prices for the lubricant commodities are favorable. The supply chain of new Toyota division aims at introducing this lubricant product in line with its initial Toyota motors product. In order to make a positive impact on the model the new division has enabled that the supply of the lubricant is accessible. This will meet the demands of the customers who are royal to Toyota brand products. Other stakeholder in the firm are also given an opportunity to incorporate their ideas in the business. Strategic planning will help the new division to scam the environment thoroughly. This helps adopt to changes in business environment such as financial crisis. As a result the primary objective is to produce lubricants in Toyota new division. The plan in new division have been communicated to all employees in the organization to make them aware of the objectives, mission and purpose. Major opportunity that New Toyota division encounters is the ability to produce a commodity that is in much need as per its existing products. Being a leading company in the motor vehicle manufacturing industry introduction of this product will boost the total sales. Also a centered business operation will be developed because all these products are enclosed in on SWOTT ANALYSIS line of business. Toyota new division will also have to market its products intensively in the market to ease penetration. 7 SWOTT ANALYSIS 8 References Bradford & Duncan (2000). Simplified Strategic Planning (3rd Edition). New York: Chandler House. Groonroos, C. (2004). The relationship marketing process. Journal of Business & Industrial Marketing, 19 (2), 99-113, Retrieved August 7, 2009 from http://www.emeraldinsight.com/Insight/ViewContentServlet?Filename=Published/Emera ldFullTextArticle/Articles/0800190202.html Kotler, P. (2002). Marketing Management (11th Edition). New York, USA: Prentice Hall Pvt. Ltd. Payne, A. & Frow, P. (2005, October). A Strategic Framework for Customer Relationship Management. Journal of Marketing, 69, 167-176. Retrieved August 7, 2009 from http://www.sirim.my/techinfo/P1/Management/Sept-Oct05/sept-oct05_article10.pdf Pierce, J. & Robinson, R. (2004). Strategic Management (eds.). New York: McGraw Hill Companies. Rapacz, D. & Reilly, M. (2008). The New View of Relationship Marketing: Better integration to deepen brand commitment. Journal of Integrated Marketing Communications, 19-25. Retrieved August 7, 2009 from http://jimc.medill.northwestern.edu/JIMCWebsite/2008/RelationshipMarketing.pdf Running head: BALANCED SCORECARD AND COMMUNICATION PLAN Balanced Scorecard and Communication Plan Joanna Dennerlein Bus/475 5/14/18 Victor De Jesus 1 BALANCED SCORECARD AND COMMUNICATION PLAN 2 Balanced Score Card and Communication Plan Strategic Objective Summary Strategic management is a critical activity in monitoring the performance of businesses. The balanced scorecard is one of the most potent tools for strategic planning. It enables organizations to set strategies that allow them to align tasks, communicate with stakeholders as well as measure and monitor progress. In the process of strategic management, the firm can identify and improve the internal functions such that the results are viewed externally. The balanced scorecard enables managers to develop new organizational goals, mitigate risks or even recognize critical trends in business. The article provides an analysis of Toyota Motors Company’s balanced scorecard together with the communication plan that it influences. The strategies outlined in the two items, however, align the company’s vision, mission statement and values with the SWOT analysis as well as the supply chain. Strategic Objectives Toyota Motors Company intends to develop a new product which is the motor vehicle lubricant. The product will be of different types to meet the various customer needs. Vehicles cannot function efficiently without oil that services multiple parts to enhance the durability of the car. The various types of lubricants that the firm will develop will improve value by offering durable products at an affordable cost. The thickness and thinness of the products will also vary according to the requirements of the customers. The oil will be packaged in cans that are easy to carry. Financial perspective BALANCED SCORECARD AND COMMUNICATION PLAN • 3 The new product in the market will increase the firm’s market share. The high quality of the lubricants will attract customers from various parts because it will meet their needs (Goetsch, & Davis, 2014). In addition to this, the new product will save the clients’ money because of its durability. • The high demand for the new product will enable the organization to develop a revenue base of $20Million within five years of the product release. • Toyota Motors remains one of the highly competitive organizations in the motor vehicle industry. The new product will further enhance the competitiveness. The high quality of the new products will further provide the firm with a competitive advantage. • The sales from the new product will increase the company’s profits by 10% within five years. Customer value perspective • The new product will increase customer satisfaction significantly. Toyota Motors is already an established organization in the market. The development of a lubricant that will vary in design to suit the needs of the customers will further improve their perspective. • The new product will open up job opportunities for the public which will enhance the living standards of individuals. New employees will engage in the marketing of the new product to present to the public, a product that is more superior to those of the competitors (Goetsch, & Davis, 2014). As a result, service delivery will improve together with an increased ability for bulk delivery. BALANCED SCORECARD AND COMMUNICATION PLAN • 4 The development of a high-quality lubricant will increase the demand which will further enhance customer retention. In return, the consumer spending in the motor vehicle industry will rise, and as a result, the overall US economy will develop. Internal operations perspective • The new product will lead to the development of stronger alliances among both local and international partners. The organization will form strong bonds with its partners to improve marketing strategies that will curb the ever-rising competition. • Toyota Motors will adopt quality management technologies that will monitor the process of product development to enhance quality. • The development of the new product follows research on the market niche. This way the firm can develop a new product that will drive change into the motor vehicle industry. Learning and growth perspective • The employee involvement in the new product development will lead to increased employee satisfaction. Further, the improved revenue from the sale of the new product will lead to increased employee compensation (Cassidy, 2016). It will further boost their morale so that the overall productivity of the firm increases. • Higher employee satisfaction will also increase employee retention so that the rate of turnover decreases significantly. • The new product requires the development of new technology. The technology will improve the production process regarding speed and accuracy while the employees learn new skills. BALANCED SCORECARD AND COMMUNICATION PLAN 5 Balanced Score Card Perspectives Questions Goals Measurements Customers How do customers see Improving customer Using a customer us? satisfaction by 9% in satisfaction score that two years’ time will allow customers to rate their satisfaction on a scale. Increasing customer Determining the retention by 4% within abandonment rate to two years identify which products that customers did not purchase. Increased customer Measuring the value by 20% within customer’s lifetime the next five years value Conducting a scan on the customer service call log to identify customer experience BALANCED SCORECARD AND COMMUNICATION PLAN Financial perspective 6 What are the Increasing market The increased market shareholders’ share by 10% in the share will be measured interests? next three years by comparing the organizational revenue with the sales value Calculating the Increasing revenues by number of units of the 15% in the next five item sold years Improving competitive Determining the rate at position by 8% in the which the next two years commodities move Calculating the profitability of the firm compared to the competitors Process perspective What is the firm Improving product The adoption of doing? quality quality assurance strategies like ISO certification BALANCED SCORECARD AND COMMUNICATION PLAN Productivity 7 Using Multifactor improvement by 4% in productivity to the next five years measure growth in value-added output Impacting societal Defining the customer change transition to the new product Collecting customer views on the new product Learning and growth How are the Increasing employee Calculating the rate of employees benefiting satisfaction by 2% in employee absenteeism from the firm? the next two years Participating in employee engagement surveys BALANCED SCORECARD AND COMMUNICATION PLAN 8 Reducing employee Determining the turnover by 5% in the retention rate across next three years departments Calculating voluntary turnover where employees leave the firm for better opportunities Adopting Determining data technological quality innovation Communication Plan A communication plan refers to the approach that firms adopt in communicating their strategies to the relevant stakeholders. Toyota Motors will develop a communication plan that they will use to describe their new objectives to the stakeholders to improve performance (Slack, 2015). The project will as well outline the communication channels that the firm will use to get the information to the audience. The audience for the communication plan includes the employees to inform their role in the implementation of the strategies. The firm's administration BALANCED SCORECARD AND COMMUNICATION PLAN 9 and the Board of directors also need to get a copy of the company's plans. The firm will use internal memos to get to the employees and the administration. It will also send emails to each of the board members so that everyone gets the information. In addition to this, it will also post the info on the official website to inform the external stakeholders. References BALANCED SCORECARD AND COMMUNICATION PLAN 10 Cassidy, A. (2016). A practical guide to information systems strategic planning. CRC press. Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Slack, N. (2015). Operations strategy. John Wiley & Sons, Ltd.
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