The Strategic Planning: SWOT Analysis assignment: Strategy Map
The Strategic Planning: SWOT Analysis assignment completed in Topic 3 helped you identify a strategic goal within your sphere of influence. This assignment asks you to visually represent the cause-and-effect relationship among goals, operations, and stakeholders. In addition, this assignment seeks to examine the impact on various operational processes within the selected organization
According to your Management textbook, a strategy map "is a visual representation of the key drivers of an organization's success, showing the cause-and-effect relationship among goals and plans." Refer to Exhibit 7.4 in the textbook. A strategy map seeks to align organizational goals into strategy and provide clear direction for the organization.
Review the mission statement of your selected organization. Prior to creating a strategy map, identify your stakeholders. Complete a stakeholder analysis to identify and prioritize the various stakeholders. Refer to the "Stakeholder Analysis" resource from Mindtools and complete all steps.
Based on your strategic goal, create a strategy map using Microsoft Word, Microsoft PowerPoint, Microsoft Visio, or other software. Include only the required perspectives (financial, customer, internal, and learning and growth) that pertain to the strategic goal in your map. The cause-and-effect relationships are described by connecting arrows.
APA format is not required, but solid academic writing is expected.
You are not required to submit this assignment to Turnitin.
please, it has to be continuation from the last assignment with same topic selected in last assignment.
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Strategy map
The chosen firm is LongHorn Steakhouse restaurant, which is in Houston, Texas. The mission of this business organization is to persistently strive to achieve the best in everything; that is the best in corporate growth, in human resources, in food quality, as well as in service. The restaurant often reviews its performance and analyzes field data frequently in order to recognize challenges and lay down new targets for its operation which this business organization aims to attain and surpass. The restaurant also seeks to sell amazing and scrumptious beverages and foods to match its first-rate location and to time and again offer its clients unimpeachable service by demonstrating integrity, efficiency, graciousness, professionalism, knowledge, and warmth to its work. It also seeks to keep its products exciting, fresh, and on the cutting edge of Houston, Texas’ hospitality industry. In addition, the mission statement states that the restaurant seeks to offer well-prepared and nutritional meals with the use of quality ingredients only at fair prices. Lastly, LongHorn Steakhouse restaurant strives to make sure that every customer gets courteous, friendly, professional and prompt service.
Stakeholder analysis
Stakeholder analysis, as Kaplan and Norton (2011) pointed out, is a technique utilized in identifying the individuals who need to be won over. It is a methodical method of analyzing the stakeholders by their interest as well as power. Stakeholders with low interest and low power are the least significant whereas those with high interest and higher power are the most important stakeholders. The stakeholders for LongHorn Steakhouse restaurant include customers, employees, suppliers, the community, potential customers, the press, the public, government, lenders, and the company’s top executives.
High
Power
LowKeep Satisfied
Employees
Suppliers
Prospective customers
Influence actively and engage closely
Customers
Company’s top executives
The boss
Monitor/minimum effort
Lenders
The Public
The governmentKeep informed
The press
The community
Interest groupsLow Interest ...