- Strategic objectives
According to the minutes that are prepared as per the board meetings and basis of the MacVille organization, they follow certain objectives that are formulated and discussed concerning the future objectives of the organization. The CEO of the organization presents different objectives that can be treated as the standard guidelines related to the business enterprise in the coming 5-year plan. These can be detailed as:
- The imperative objectives of the organization MacVille are offering and establishing the espresso coffee machines in the provided location of the country Australia. According to the Java Estates, it is needed to be a top priority and acknowledgment. The corporation oversees the amount that is elevated.
- It is needed to expand the business that the sales and the revenues by 5% in the coming period. The expansion approach of time frame is almost 5 years. The implementation for the expansion of deals for making better valuable transactions in terms of resources and raw material providers. Moreover, the organization’s human resource is motivated for achieving the task that is desired.
- For building the group value that is untapped in terms of the geographical region for 5 years.
- The organization aims to reduce the wastage overall and reduction in the abnormal wastage in terms of the account of 10%. Some certain standards and guidelines are formulated for the achievement of objectives and desired goals (Wolf& Floyd, 2017).
- Strategies for each objective
At the time of setting out long and short-term objectives related to the organization,certain strengths are to be seen in the company as they are needed to be united properly. As per the organization and its point of view in terms of the opportunities of the external market it is imperative to utilize them for attaining the maximum amount of output. The organization can’t provide the output of 10% or less it is dedicated to the organizational employees and also deliver the tasks effectively. Moreover, the targets and plans of the objectives are seen to be considered very critical in terms of future and present as well as organizational wellbeing. The goals are to be seen organized by the investigation of the practices of the company in terms of effective communication with the association of the employees. As the end goal is seen to be fulfilled by objectives and needs of the organizational market for the expansion of aggressive market shares and effective procedures and policies that are needed to be formulated. Promotion of the strategies of the organization and products are needed to make the organization successful. Certain strategies are prepared in terms of reviewing the strengths and weaknesses of the organization that are analysed for others in terms of the tribal physician in the market. The decision is strategic and is taken in the aspect of the portfolios of investment Human Resource Management and the market risk that certainly triggers the effective change and its implementation. The preparation of certain strategies as per the internal business position and conditions of the external environment is imperative (Munier, 2013).
- For the strategies,
- Development of strategies prioritized list
- Timeframe for completion
- Assigning the responsible parties for every strategy
- Assigning the measurable performance
|Objectives of the business||Prioritized strategies||Timeframe||Authorities responsible for strategies||KPI’s|
|Expansion of the untapped Australian regions.||Increase in the promotional and marketing strategies.||5 Years||Research and marketing head.||Increase in revenue at a particular time in Australia (Chambers& Taylor, 2019).|
|Increasing the revenue by almost 5%.||Human resource motivation as well as efficiency in the increase of the sales and introduction of new products for offering a particular customer base.||5 Years||Research and marketing head.||Increase in customer base in terms of upcoming Orders and customers.|
|Building brand value of the business.||The procedure of Engineering skills-building competitive advantage with the help of promotional activities that are efficient in terms of building product lineStead& Stead,2014).||5 Years||Hiring effective staff members and offering the product at a quite lower price in comparison to the brand of rivals and competitors.||Requirement increase as well as product demand.|
|Reduction in the wastage by overalls 10%.||Dividing and prioritizing the work and checking certain areas related to the defaults and curbing them to a particular extent.||5 Years||Control and Quality Management head.||Witnessing a particular decrease in the wastage overall.|
After completion of the draft of the strategic plan:
- Briefing materials
The summary notes are related to the meeting with the CEO of the company.
Agenda of the meeting: Strategic plan of MacVille.
Participants: Team, general manager, and CEO.
The objectives that are formulated are reviewed that consist of clear understanding, as well as implementation, is required.
The strategic plan certainly is reviewed as per the smart objectives and the standards of benchmarking results.
As per the discussion, the role of the employee consists of achievement and implementation of the target that is reviewed and motivating the current employees in terms of the commitment that is determined for improvement in the future.
The strategies consist of recording the employees particularly in consideration of the dedication of the employees for generation and achievement of the targets that are assigned.
Drafting the strategic plan on reviewing the organizational weaknesses and strengths according to the analysis of customers and competitors.
Approval of the strategic plan by so with proper confidence of getting on board with it.
CEO advising HR to find proper resources for the organizational implementation.
Past performance of the nominated employees for the management of target in terms of reviving to make sure that the person is doing the right job and it is measured properly.
- Cover statement
- Overview of the key objectives
- Description of process and research utilized
This letter is written with great pleasure and this concept of a strategic plan that is endorsed collectively as per the board and the so. The plan is devised as well as completed successfully and it is a very imperative ground for the implementation of the plan in the company. As per the implementation phase, the importance of briefing the staff as well as associated stakeholders related to the strategic plan is very beneficial. Breaking the plan into certain stages and overviewing its objectives in the organization and pursuing the segments and revising the plan is an essential part of this scenario.
The important objective of the organization is administering the coffee espresso machines in the location of Australia. Expansion of corporate governance by almost five percent is essential in a particular time frame that is 5 years in terms of implementation of certain degrees that are provided with the help of resources and raw materials. Building a brand value related to the geographical reasons of Australia in a particular period. Reduction in the overall wastage of 10% (Bryson, et al., 2018).
The plan is developed concerning the imperative stakeholders that consist of middle managers as well as higher management and different suppliers for ensuring the successful implementation to its fullest in the company. The initial draught is sent to the general manager related to the team for different board meetings about the subject matter and feedback of certain stakeholders that are incorporated and taken with the best and the finest way possible in terms of shipping and revising the final plan. The incorporation of the HR manager comments is assigned as per the key performance indicators in a realistic form that makes the measurement of the performance easier.
Bryson, J. M., Edwards, L. H., & Van Slyke, D. M. (2018). Getting strategic about strategic planning research. Public management review, 20(3), 317-339.
Chambers, L. D., & Taylor, M. A. (2019). Strategic planning: Processes, tools and outcomes. Routledge.
Munier, N. (2013). Project Strategic Planning. In Project Management for Environmental, Construction and Manufacturing Engineers (pp. 55-64). Springer, Dordrecht.
Stead, J. G., & Stead, W. E. (2014). Sustainable strategic management. Routledge.
Wolf, C., & Floyd, S. W. (2017). Strategic planning research: Toward a theory-driven agenda. Journal of Management, 43(6), 1754-1788.