The strategic plan will help provide better, more targeted service to its clients and will be more specific on how the company will go about achieving company goals. The strategic plan will help Riordan’s executives understand the company’s direction by reviewing past progress and making changes to improve and grow. The strategic plan is an organizational tool that will help keep Riordan on track to meet growth and financial objectives. Need for a Strategic Plan Successful businesses are effective at identifying opportunities for growth and ensuring every manager has the same goals. For Riordan to further strengthen their strategic plan, they can develop a financial model based on their income and cost assumptions they would anticipate under the plan (Mikrut, 2010).
If the company engages an operational product planning tactic interconnected with a vast quality progression that focuses on market needs and customer needs, the company will succeed with new products in the current market. A further quality procedure for BJB Manufacturing Company would be to make sure successful product proposals are generated through consultations through corporate management, and manufacturing groups. This is done because groups will have important product information that can help other group’s complete individual sections of the business plan. It is vital that each section of BJB Manufacturing Company comprehend the company intentions and product course so that the company can design product plans, merge quality procedures, and adhere to planned practices.
Internal and external customers provide business with information about how their products are used, new opportunities for their business, trouble-shoot issues with their product, and organise workloads. Operational plans include customer service processes and product development. These plans include: * Understanding customer needs (internal/external – current/future) * Expectations of Customers * Research results -target markets , sampling and profiling, market segmentation, needs * Collection and analysis of information collected Customer needs can continually change being influenced by the economy, social and political events, trends and movements. Organisations use change management practises to pre-empt changes wherever possible, and also to be ready for change. To do this, organisations need to be aware of the following: * Identify what customers are buying and what benefits they purchase * Understand why customers will or do purchase * Know when customers are likely to buy By knowing the customer, organisations can plan to meet their needs.
It is vital for Kudler to continue reviewing and improving its information system to ensure its appropriateness to the changing characteristics and needs of its customers. More focus should be placed on forecasting techniques to ensure that there would be a match between what the company offers and what the customers need. The best decision may be to use a combination of methods to forecast sales rather than just one (Payne, 2012). Once the manager accepts the process, they must see to it that it is logical, it fits the needs of the organization, and it can adapt to changes in the environment. Threats and
The customers displayed the overall cost of merchandise is a bit high. They do appreciate the loyalty and bonus programs, but achieving these loyalties and bonuses should not cost so much. Kundlers foods could experience an increase in customer satisfaction if they slightly reduced the cost of their products and services. Market research is a very important part of an organization's strategy to implement expansion and variation. Part of this research must include the competitor’s strategies.
The success of this phase needs the commanding and logical style of leadership. It requires a more demanding approach as it represents the moment of launching the plans and strategies for change and these must have a precise debut. This phase has to be managed through the commanding and logical styles as they consist of directing and explaining, and of doing and studying. The catalyzing phase involves inspiring, energizing, and assisting. The inspirational and supportive styles are most effective as these develop through exploiting opportunities of change in order to accomplish positive goals.
A competitive marketing intelligence analysis is necessary because much can be learned from the competition’s successes and failures. This type of analysis is not, however, limited to the just the competition. The text, Marketing, defines competitive marketing analysis as the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment (Kerin, Hartley, & Rudelius, 2011). When collecting data and in order to make reasonable decisions, it is important to predetermine many
It is important to engage the employees in the critical thinking process, decision making process and setting a common subsidiary goal that will be able to help the specialists to merge well with the existing teams. Both the teams have administered to complete the implementation on the agenda as
14. Which of the following best describes a dynamic organization? A. Creating organizations that continually focus on the internal processes to achieve goals B. Building an organization by grouping jobs into work units and allocating resources C. Identifying business functions and mobilizing leaders D. Being flexible and responsive towards customer needs and the competitive environment Correct!
Although many organizations claim that they are adaptive organizations, in fact it involves searching and exploring new opportunities and implementing something for the first time. Consequently, adaptive reaction to change should be learned through a complete process. Organizational leaders can guide to general employees in this subject. According to Whiteny and Younker (2005), “Customer will adjust their expectation of a business based on their experience with all business they deal with” (p. 17). Thus, to meet moving customer expectation, business should find how to adapt with