Strategy Selection, Implementation and Evaluation
Step 1: Research
In completing the report, you will use the chapters in the eBook as a guide and perform research on the same company as in Projects 1 and 2, answer the required elements below in narrative form following the steps.
You will be using scholarly material and Mergent Online to research privately held and publicly owned companies. On the main navigation bar in the classroom select, Resources and then select Library. Select Databases by Title (A – Z). Select M from the alphabet list, and then select Mergent Online.
Step 2: Specific Company for All Three Projects
For this project, each student in this course has been specifically assigned by your instructor to write an independent report on one focal company. The assigned company must be used for all three projects in this course. You are not allowed to write the reports on any other company different from the company specifically assigned by your instructor. Students who fail to use the specifically assigned companies from the list or use an unapproved company will receive a zero for the project.
The companies that your instructor has assigned to each of you are listed in List of Companies.
Step 3: Preparation for the Project
Before you begin writing the report, you will read the following requirements that will help you meet the writing and APA requirements.
• You will be doing an analysis on the selected company. When doing an analysis you are not merely making statements that may be cited. Instead, you will be supporting the statements made. “Support” is the process of explaining, discussing and analyzing “why” and “how,” which is a higher level critical analytical skill that is required for this class. Support is needed to do well on this project.
• Read the grading rubric for the project. Use the grading rubric while writing the report to ensure all requirements are met that will lead to the highest possible grade.
Step 4: How to Set Up the Project
Create a double-spaced, 12 point font Word or Rich Text Format (RTF) document. The final product cannot be longer than 16 pages in length, excluding the title page and reference page. Those items identified in the implementation and action plans should appear under the appropriate heading in the paper. Do no use an Appendix.
Follow the following format using these topics as headings:
• Title page with title, your name, the course, the instructor’s name;
• Alternative strategy generation
• Strategy and prioritization selection
• Action plan for implementation
• Evaluative plan
• Reference page
Step 5: Introduction
Create an introductory paragraph. The Introduction should clearly and concisely convey the main points of the project’s requirements. Review the following website to learn how to write an introductory paragraph: http://www.writing.ucsb.edu/faculty/donelan/intro.html.
Step 6: Develop, Select, Implement, and Evaluate the Project
• Generate a pool of strategies;
• Prioritize strategies;
• Explain how to select the best strategy (or strategies);
• Recommend specific optimal strategies and long-term objectives;
• Recommend procedures for strategy implementation, review and evaluation;
• Use frameworks and tools discussed throughout the course.
• Support the reasoning and conclusions made.
Step 7: Conclusion
Create a concluding paragraph. The Conclusion is intended to emphasize the purpose/significance of the analysis, emphasize the significance/consequence of findings, and indicate the wider applications that are derived from the main points of the project’s requirements. Review the following website to learn how to write a concluding paragraph: http://www.writing.ucsb.edu/faculty/donelan/concl.html.
Step 8: Guide on Strategy Recommendations
Identify strategy recommendations using the following format for the formulation of strategies.
• View Strategy Content Guidelines.
• Goal (The desired outcomes to be achieved)
• Objective (Measurable milestone toward accomplishing the Goal)
• Strategy (The approach used to achieve the Goal)
• Tactic (A specific activity undertaken to implement the Strategy)
• Review this resource to differentiate between strategic planning and operational planning: strategy versus tactics
Step 9: Required Elements for the Report
Under the appropriate heading listed above, include the following:
• Alternative Strategies
o Generate a minimum of three possible alternative strategies for the company;
o Identify and discuss cultural factors that should be considered in analyzing and choosing among the alternative strategies;
o Prioritize and explain the selection of alternative strategiess
o Recommend the best one or two strategies among the alternative strategies and explain why these strategies are the best;
• Strategy Implementation
o Discuss who, what and how to implement the selected strategy (or strategies)
• Strategy Evaluation
o Discuss the appropriate evaluative measures (including who, what, when and how)
o Discuss the corrective action plans (including who, what, when and how)
Step 10: Submit the Report in the Assignment Folder
Submitting the project to the Assignment Folder is considered the student’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the project is the correct submission. No exceptions will be considered by the instructor.
Report Requirements to Follow
In writing the report:
• Type double-spaced with one inch margins throughout
• Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade.
• Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing).
• Contractions are not used in business writing, so do not use them.
• No direct quotes except for mission statement and vision statement. For all other source material used in the analysis, you will not use direct quotation marks but will instead paraphrase. What this means is that you will put the ideas of an author or article into your own words rather than lifting directly from a source document. You may not use more than four consecutive words from a source document, as doing so would require direct quotation marks. Changing words from a passage does not exclude the passage from having quotation marks.
• Use in-text citations and provide a reference list that contains the reference associated with each in-text citation.
• You may not use books in completing this project.
• Provide the page or paragraph number in every in-text citation presented.
Please express as Goal, Objective, Strategy and Tactics, all described below:
• Goal (A desired, attainable outcome to be achieved)
Goal Outcome Examples: Attainment of a specific sales revenue level, industry or market position, financial position, productivity level, staffing characteristics, product and branding issues, etc.
• Objective (A specific, measurable performance metric or milestone to be met towards accomplishing the Goal)
Objectives Metrics & Milestones Examples: Percentage of sales revenue growth, Percentage cost reduction, Debt-to-Equity Ratio, Net working Capital, Return on Net Assets, Market Share, Web store Customer Acquisition Rate, No. of Veterans Employed, etc.
• Strategy (The approach that will be used to achieve the Goal)
Strategy Approaches: Cost reduction strategy, pricing change strategy, a debt reduction strategy , a specific advertising strategy – like e-mail marketing or social media marketing to a specific target market.
• Tactic (A specific activity undertaken to implement the Strategy)
Examples of Tactics: changing to a specific supplier, a specific change to brand or branding, introducing a new product or service, a specific advertising e-mail marketing or social media campaign, purchase of specific equipment, a change in inventory level or product mix.
Suggested Strategy Format
Goal #1 Attain a Gross Sales Revenue of $10.5 Million within 14 months
Objective 1.1 Increase Web Store Sales Revenue by 2% in current fiscal year.
Strategy 1.1.1 Increase Brand Awareness for Product Line A using keyword marketing.
Tactic 188.8.131.52 Purchase targeted keywords of (keyword, keyword, …) on Google Ad Words.
Tactic 184.108.40.206 Purchase targeted keywords of (keyword, keyword, …)) on Face Book.
Strategy 1.1.2 Institute a pricing realignment across brands to compete more favorably.
Tactic 220.127.116.11 Institute a -5% price reduction for Product Line A sold online.