Strategic Planning
The internal/cost strategy for human resources aims at reducing the cost of certain processes within an organization so that, in an ideal situation, the amount of funding necessary to provide either a service or a product to a customer is significantly decreased. This strategy attempts to make an efficient use of virtually all internal resources, which revolves primarily about the deployment and productivity of employees already existent within a business or company. To that end, there is little need or desire for the hiring of any external personnel, while at the same time, few attempts are made to bring in any additional resources not already contained within the organization. Management focuses on efficient use of current laborers and the various contributions they can make to a company in order to maximize productivity while keeping costs associated with it as low as possible. The employer, of course, does all it can to satisfy the particular needs of its employees, which is done in an attempt to foster employee loyalty and keep the organization as autonomous and self-contained as it can. There is a great deal of similarity between an external cost strategy and that of an internal cost one. The ultimate goal of both strategies is synonymous to greatly lower the costs associated with producing whatever product or providing whatever service a particular organization is in business for. The primary difference in these strategies, however, is in the
Successful organizations develop both, short and long term goals focus on operational and financial strategies. This process needs constant evaluation in order to identify opportunities for growth. The goal of every healthcare facility should be to become a leader in the industry, attract high-quality staff and health experts, and establish cutting-edge services for the community. By reviewing current operational realities while working a market research enables the organization to develop strategy solutions to address environmental concerns.
Cambridge Behavioral Hospital currently uses a Change Theory. Strategy for most organizations is about change and focus. A firm strategy starts with knowing the external and internal forces that impact the organization’s ability to achieve its most important goals, and then steadily making the necessary changes to direct those forces. “A validation (or invalidation) of the strategic assumptions reinvigorates strategic thinking and provides a basis for investigating whether to change the strategy” (Swayne, Duncan & Ginter, 2008).
The internal factors to be considered when planning the human resource requirements for an organisation are the internal planning force, demands for products/services, technological change, skill requirements, workforce profiles (age, gender, ethnicity, ability) and new markets. Internal planning factors are within the business to help the organisation change to cope with new methods of work or new demands; it may be the business is being introduced to new technology or new product lines. Also it maybe developing new skill so that the workforce can work more efficiently.
The organization strategic plan consists of addressing clinical quality, growth, and becoming a larger part of the community, and providing long term value. The annual report states the following strategic goals (Bon Secours, 2012):
"Total Quality Management (TQM) is a participative management style that stresses total staff commitment to "customer" satisfaction (Eskimo, 2001)." Quicken Loans utilizes TQM along with the other management styles to provide the high quality of service to their clients. Quicken Loans expresses Total Quality Management in their ISMs. The ISMs Are: Obsessed with finding a better way, Responding with a sense of urgency is the ante to play and Every client. Every time. No exceptions. No excuses (Quicken Loans, 2008). These three ISMs express the care of their clients and illustrate the things that need to be done to ensure that TQM is still effective and efficient within the organization. Quicken Loans focuses on creating a lifelong relationship with
The cost-efficiency implies that the company introduces changes that allow the company saving costs without harmful effects of such changes on the quality of products and services of the company. For instance, the company can optimize internal business processes through their automation (Clarke, 2000). The automation of internal business processes saves time of employees which they can use more effectively, for instance, to increase their productivity. In such a way, the company enhances its performance and increases its revenues while its costs drop.
Strategic planning can dictate the success of any organization if properly planned as well as the failure of an organization if not implemented as planned. Strategic planning is all about making choices. It is a process designed to support leaders in being intentional about their goals and methods. Simply stated, strategic planning is a management tool, and like any management tool, it is used for one purpose only—to help an organization do a better job. This portion of the strategic plan will explain why an
Successfully introducing new products or services into the market is vital to the long-term growth of a company (Kotler and Keller, 2009). All Eyez on Me is a men clothing store that sells clothing for the hip hop nation. As a new business it is important to know what the business is all about and what it hopes to achieve in the next five years for it to become successful. The store offers a variety of name brand clothing such as Maurice Malone, Rocka Wear, Bushi, Karl Kani, Phat Farm, Pelle-Pelle, etc. The products are casual name brand clothing that men love and enjoy wearing. All Eyez on Me “will explain the importance of the business
The strategic planning process begins by reviewing the organizations mission, vision and values. Clarifying the mission, vision, and goals at the beginning strategic planning process can help align fragmented entities (2 p. 293). The mission statement identifies the organizations reason for existing and how it is unique in comparison to other organizations (A p. 294). It is a short, concise and clear statement that serves as a rallying point for the organization (4 p. 752). The mission provides clues about the types of services that can be expected from the organization (A). Failing to check new projects against the mission can cause an organization to get into trouble (A p. 294).
This report demonstrates the evaluation of current performance of JD Sports Company. Method of Analysis includes Ansoff’s matrix and Porter’s generic growth strategies to discuss the nature of the market which JD Sports invest in. The financial methods are including the flexibility and stability of JD sports which judged by the liquidity, current ratio, operation capital, gearing and profit margin of this company. These figures could be collected from the annual report or balance sheet. This report analyzed the JD sport’s position in the market, and used generic and external growth method to expand market size. Such as acquired a lot stores to improve business profitability. Obviously, JD has expanded to the European
This paper will evaluate and make recommendations regarding City of El Centro’s strategic plan, its mission, vision, goals, and objectives. A brief history of the City of El Centro will be included. A SWOTt analysis (strengths, weaknesses, opportunities, threats, and trends) on the City of El Centro will be performed. Included in this paper will be City of El Centro’s mission statement labeled “Attachment A”, City of El Centro’s vision statement labeled “Attachment B”, City of El Centro’s goals labeled “Attachment C”, City of El Centro’s objectives labeled “Attachment D”, City of El Centro’s history labeled “Attachment E”, and City of El Centro’s SWOTt Analysis Grid labeled “Attachment F”.
This paper will compile the various assignments from previous weeks to establish a completed strategic plan. An executive summary will be provided, along with the company’s background, mission, vision, and value statements. Additionally the previously constructed environmental scan will be further illustrated. The selected business strategy will
There are seven steps that strategic planners must take to determine staff readiness for the process. These steps are (1) securing the support of the church’s empowered leadership, (2) recruiting strategic leadership team (3) communicating constantly with the congregation (4) assessing the church’s readiness for change (5) conducting ministry analysis (6) approaching the process with reasonable time expectations, and (7) laying spiritual foundation for the project
Globalization changes have impacted Burger King in the following ways; since the company began in 1953 with its first restaurant in Jacksonville, Florida and opened several locations across the United States, the company began its international expansion in 1969 with its first international franchise location in Canada, followed by Australia in 1971, and Europe in 1975. The setting up of franchises outside the United States was as a result of fast food opportunities arising outside the United States. So as to fully integrate in the international market, Burger King had to adopt and embrace
Future- oriented: Strategic management encompasses forecasts, what is anticipated by the managers. In such decisions, emphasis is placed on the development of projections that will enable the firm to select the most promising strategic options. In the turbulent environment, a firm will succeed only if it takes a proactive stance towards change.