• Competency 3: Apply a sequential process for developing and implementing strategies, goals, objectives, and tactics as part of the strategic plan implementation.
  • Describe internal strengths of the selected organization.
  • Describe internal weaknesses of the selected organization.
  • Describe external opportunities of the selected organization.
  • Describe external threats of the selected organization. BUS 4015 Capella University Developing and Implementing Strategies Discussion
    

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Competency Map

CHECK YOUR PROGRESSUse this online tool to track your performance and progress through your course.

Context

Strategic management is the formulation, implementation, and evaluation of decisions that help a business achieve its goals (David, 2014). Strategy formulation includes the development of a vision and a mission, determining internal strengths and weaknesses, identifying external opportunities and threats (also known as a SWOT analysis), and establishing long-term strategies and objectives. Strategy implementation requires the organization to create policies and short-term objectives, and to allocate resources so strategies can be achieved. Strategy evaluation reviews external and internal factors, measures performance, and takes corrective action. Strategy formulation can occur at the corporate, divisional, business unit, or functional level. There are financial and non-financial benefits in strategic planning. Success increasingly depends upon being competitive in the global market. Strategic planning can help achieve this imperative.SHOW LESSIt is also important to consider an organization’s unique purpose and reason for being and how these things are reflected in the organization’s vision and mission statements. Vision and mission statements are similar, but a vision statement, according to David (2014), answers the questions “What do we want to become?” and “What is our business?” A mission statement is typically longer and more detailed than a vision statement. Organizations that invite strategists, managers, and employees into the development and communication of their business vision and mission create a heightened sense of purpose.The vision statement, although often the most commonly overlooked task, is the necessary first step in strategic management. It provides direction for other activities. Like a vision statement, effective mission statements stand the test of time and, although re-examined annually, they are infrequently changed.

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Reference

David, F. R. (2014). Strategic management: A competitive advantage approach, concepts & cases (15th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.

Questions to Consider

To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.Read the mission statement of an organization with which you are either currently employed or very familiar, and analyze the following questions:

• Does this mission statement successfully reflect the organization’s goals?
• What are the strengths and weaknesses of this mission statement?

Resources

Suggested Resources

The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom. BUS 4015 Capella University Developing and Implementing Strategies Discussion

Library Resources

The following e-books or articles from the Capella University Library are linked directly in this course:

• Morden, T. (2007). Principles of strategic management. Abingdon, Oxon, GBR: Ashgate Publishing Group.
• Tedlow, R. S. (2005, December). Becoming Andy Grove: A Harvard historian explains how Intel’s legendary chief became the best model we have for leading a business in the 21st century. Fortune, 152(12), 116–138.

SHOW LESS

Course Library Guide

A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the BUS-FP4015 – Strategic Planning and Implementation Library Guide to help direct your research.

Internet Resources

Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication.

• The strategy club.(2013). Retrieved from www.strategyclub.com
• CNN Money. (2013). Fortune magazine online. Retrieved from http://money.cnn.com/magazines/fortune/

Bookstore Resources

The resources listed below are relevant to the topics and assessments in this course and are not required. These resources are available from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation.

• David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts & cases (16th ed.). Boston, MA: Pearson.

Assessment Instructions

Preparation

Choose an organization on which to complete a strengths, weaknesses, opportunities, and threats (SWOT) analysis. Ideally, the company you choose will be a familiar one and one to which you have easy access, such as your place of employment or a company close to where you live. You may use the same organization for other assessments in this course. Think of yourself as an outside consultant hired to research, assess, formulate, recommend, and evaluate your selected organization.It is important to remember that opportunities and threats are external to an organization, and strengths and weaknesses are internal to an organization.

SWOT Analysis

Complete the following:

1. First, identify and describe what you consider to be your chosen organization’s internal strengths and weaknesses. Examples of internal factors include employees, management, and finance. Use the terms “Strengths” and “Weaknesses” as titles. Then, list three or more factors under each title and describe them.
2. Second, identify and describe what you consider to be the organization’s external opportunities and threats. Opportunities and threats may include a variety of factors, such as economics, technology, demographics, environmental considerations, culture, competition, and political influences. Use the terms “Opportunities” and “Threats” as titles. Then, list three or more factors under each title and describe them.

Be sure to both identify and describe the strengths, weaknesses, opportunities, and threats of your chosen organization.

Additional Requirements

• Written communication: Written communication is free of errors that detract from the overall message.
• APA formatting: If you use sources, ensure that resources and citations are formatted according to APA (6th edition) style and formatting.
• Font and font size: Times New Roman, 12 point. BUS 4015 Capella University Developing and Implementing Strategies Discussion