Interview with Kent Larson, Vice President of Transmission, Xcel Energy

IV. Business Model and Strategic Plan Part III: Assumptions, Risk and Change Management Plan; Summary of Strategic Objectives; Balanced Score Card and its impact on stakeholders; the Communication Plan…………………..…………..15

* Adoption of appropriate methods and mechanics (i.e. strategic road map, target resource split, strategic buckets) for aligning these strategic goals with the project portfolio;

In order to be productive all members of staff should be aware of the goals of the firm. Knowing the goals allows the manager to make effective decisions. The goals of the firm can be viewed as the motives of the entrepreneur’s who own and run the firm. There a number of goals that a firm can pursue in its day-to-day

In general, an overall strategy should precipitate into goals and those goals in strategic objectives that can be used to by 1st and 2nd line managers. These strategic objectives’ progress are measurable and quantifiable. Many managers utilize tools such as score cards to analyze the success or lack of, that a company and its managers attain, fails to meet, or surpasses the stated goals. Alignment of these processes to reach a company’s goals is dependent upon the number of goals, the specificity of these goals, and whether or not the entrusted managers have executed these strategies with the necessary resources to accomplish them. According to Sull (2015), “80% of managers say that their goals” fall into this category” (p. #)

Financial planning according to business dictionary is the “Long-term profit planning aimed at generating greater return on assets, growth in market share, and at solving foreseeable problems” (Businessdictionary.com, 2015, p. 1). Organizations that are in the process of preparing strategies for the firm must prepare a financial plan detailing the budget necessary to achieve the strategies. In addition, in the financial plan the firm needs to include any personnel, the training if necessary, and any equipment that needs to be purchased. Banner Churchill Community Hospital (BCCH) is working on a strategy to improve the services provided to the

Every organization should have a strategic plan to achieve its goals in a limited time period, the strategic plan has many variable models. The strategic planning process that we studied needs a collaboration between the organization’s staff, board members, and strategic plan committee. This strategic planning process has ten guide steps.

Paul worked for a company by the name of Kelecton. The small company kelecton has two hundred and forty workers/employees that manufacture software for utility companies. Based on the survey, Paul needs to concentrate on a few things such as safety, working conditions, work-load distribution as well as compensation. If Paul concentrate on the above issues, it will allow him to take the necessary steps in order to come up with needed changes to their present systems as well as policies. This strategic plan offers Paul some procedures as well as steps to follow while coming up with solutions to the concerns of his employees without spending too much money.

Having worked in both the private and public sectors in positions necessitating the development of strategic plans and standard operating procedures which required a comprehensive understanding of, and the ability to operate under various plans and procedures, I am well-acquainted with the importance of understanding an organisations purpose, and relevance of its policies, regulations and SOPs. Practising sound judgement and decision making, I maintain an awareness of the implications and contribute to solutions and future strategies, having designed project plans and operational procedures in the capacity of employee and business owner.

Once there has been adequate time to assess the division and be aware of projects and processes that are in place, it will allow for a more open dialogue and contribution to the conversation and planning process. A strategy will be developed to focus on management systems and processes that can help build positive momentum. There will be a review of the division’s path forward with the leadership team to clarify mutual expectations and assess progress toward a common goal. In this time, as a team, we will need to make any course corrections, especially as it relates to the execution phase of the plan.

As a company of this size, corporate planning is a vital function to deal with external and internal factors, in which, the company's goals or objectives are achieved. In addition, a well-defined strategic planning implemented will be the guidelines in dealing with each factor, such as, globalization, innovation, and

Promote self-direction and commitment- To deal with this diversified market, companies need to tailor their approach to strategy and execution to each environment in which they operate. And because of the increasing pace of change, they need to constantly “retune” this collage of approaches. But it’s simply not feasible to manage all these shifts using traditional top-down, deliberative decision making. The ability to adjust needs to be woven into the fabric of the enterprise.

While dedicated planning is essential, rigid adherence to a faulty plan will lead to poor performance or failure. A key aspect of successful planning is ongoing evaluation and flexibility, and it is intended that this plan will be reviewed on a regular basis. This will ensure that all key business targets and activities remain appropriate mechanisms for achieving both company’s sales targets and strategic goals.

The unit’s readings have provided many solutions to the challenges businesses encounter nowadays. To this day, there are many companies that have business plans that concentrate strictly in lowering operating cost, cut budgets as much as possible and overwork workers that already are overworked.

As famous within the e-learning motion, system is alluded to as an association or a game plan wherein an industry association concentrates on executing and creating plans that include the targets and goals of the organization. The general procedure required in such technique is termed as primary administration or strategic management and proceeds onward constantly, changing consistent with the development of hierarchical locations and goals (Schaefer, n.d.).The making of a game plan is atheory involving to build up exact movements even as empowering the business for attaining the key ambitions and targets. It includes the utilization of knowledge from making, organizing and analyzing choice on how key issues confronted by means of

Align Business Goals: appropriate goals, arrived at through the creation of a suitable stakeholder decision making model