Benchmark Assignment Strategic Planning: Action Plan
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Use your completed strategy map to formulate functional-level strategy for the primary business functions included in your plan. Functional-level strategies are the action plans used by departments within organizations to support the execution of business-level strategy at the managerial level. Create a 500-750 word action plan that addresses the following:
Identify which management tactics and strategies you will implement to meet your strategic goals for each of the stakeholders, departments, or business functions impacted by your plan: MBO, MBM, single-use or standing plans, competitive advantage, contingency planning, building scenarios, crisis planning, and innovation.
Provide an explanation of how you will apply managerial decision-making methods throughout your action plan.
Which business functions will be impacted by your action plan? What tactics will you use to manage implementation across business functions? What can you do to enhance collaboration/cross-functionality to ensure the success of your plan?
Identify leadership strategies you plan to implement throughout the execution of your action plan. In particular, explain which strategies you would implement to foster team collaboration among the multiple stakeholders who must collaborate to successfully implement the plan. Why do you think these will be successful?
While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.
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Plan provides a thorough and fully developed description of management tactics and strategies you will implement to meet your strategic goals for each of the stakeholders, departments, or business functions impacted by your plan: MBO, MBM, single-use or standing plans, competitive advantage, contingency planning, building scenarios, crisis planning, and innovation. Some subject knowledge is evident. Plan offers detailed evidence that justifies conclusions about personal leadership development. Plan includes relevant examples and applicable insight. Plan demonstrates comprehensive subject knowledge and understanding.
Plan provides a thorough and fully developed explanation of how you will apply managerial decision-making methods throughout your action plan. Plan offers detailed evidence that justifies conclusions about this vision. Plan includes relevant examples and applicable insight. Plan demonstrates comprehensive subject knowledge and understanding.
Plan provides a thorough and fully developed description of business functions that will be impacted by your action plan including tactics and ways to enhance collaboration and cross-functionality. Plan includes relevant examples and applicable insight. Plan demonstrates comprehensive subject knowledge and understanding.
Benchmark Assignment - Strategic Planning: Action Plan
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Benchmark Assignment - Strategic Planning: Action Plan
For the Houston-based LongHorn Steakhouse, the strategic goals for this firm are as follows: update menus; conduct extensive marketing to increase the restaurant’s brand equity and brand awareness; and provide outdoor catering services so that clients could have the option of having their meals delivered to them at their locations. To meet the strategic goals for every stakeholder, department or business function impacted by the action plan, the management tactics that would be used are as follows: crisis planning, which allows the company to cope with unanticipated, abrupt events that could destroy the company if the manager is not prepared with an appropriate and quick response. Contingency plan which defines responses the company would take in the event of a setback, emergency or unanticipated condition (Radomska, 2014). Management by objectives (MBO), a method in which employees and the manager define goals for each individual and department, and use those defined goals in monitoring consequent performance. Management by means (MBM), which is focused on attention on processes and techniques utilized to attain goals. Lastly are single-use plans, which are created for the purpose of attaining a defined set of goals which are unlikely to be repeated in future (Radomska, 2014).
Managerial decision-making methods would be applied throughout the action by establishing objectives; defining the problem; identifying potential solutions to the identified problem; evaluating the potential solutions, that is, the alternative courses of action; and executing the decision (Leonardi, 2015). The business functions that would be impacted by the action plan include marketing and promotion activities since these functions would need to be intensified, order delivery since customers may prefer to have their orders delivered to them wherever they are for instance at home or at their workplaces, and cooking since the restaurant will need to update its menus by preparing a broader range of foods to satisfy the growing needs of customers.
To manage implementation across business functions, the tactics that would be utilized are as follows: clarifying the common goals that team members would be working together towards, clarifying roles of each team member in the...