StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Strategic Planning and Control - Assignment Example

Cite this document
Summary
This incorporates the development of technical skills related to strategic analysis and soft skills developed within me. Our chosen company was considered as profitable and generated adequate…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.5% of users find it useful
Strategic Planning and Control
Read Text Preview

Extract of sample "Strategic Planning and Control"

Strategic Planning and Control Table of Contents Learning Log 3 Learning ment 4 Description 4 Reflection 4 Strategic Planning 4 The Strategic Planning Process 4 Critical Success Factor 5 Key Performance Indicator 6 SWOT Analysis 6 PESTEL Analysis 6 Porter’s Five Forces Model 7 Feedback on my Strategic Plan 7 Soft Skills 7 Group Working 7 Communications Skills 8 Conflict Resolution 8 Time Management 8 Evaluation from Group Member 8 Outcome 9 Gibbs Reflective Learning Cycle 9 Reference List 10 Appendices 11 Description 11 Appendix 1 11 Reflection 13 Appendix 2 13 Appendix 2 13 Appendix 3 15 Appendix 4 17 Appendix 5 20 Appendix 6 22 Appendix 7 24 Appendix 8 26 Learning Log The main purpose of this report is to replicate my learning outcome from the module. This incorporates the development of technical skills related to strategic analysis and soft skills developed within me. Our chosen company was considered as profitable and generated adequate cash. The strategic plan has been developed for the company for the next five years. The anticipated result shows that sales revenue increased throughout the five years but the operating profit, profit before tax, and the net profit increased in the second year followed by a negative figure in the third year and then suddenly mounted to a very high extent in the fifth year. I got to know that it is technically wrong because it does not involve the calculations of the projected figures either. The projected cost is also confusing. I also learnt that group working is more advantageous as compared to individual work as it involves the idea of four to five people as well as includes more communication and as an outcome lead to enhanced decision making process. Soft skills should be developed to resolve the argument which takes place in the discussion process in the group. Moreover, management of time is also essential for successful completion of the project. Learning Statement Description The learning statement comprises different methods of learning the subject. It also shows that how different concepts are applied in practice. I had gained knowledge on this subject (strategic planning and control) through the help of module and by listening very carefully to the lectures. I used to visit library after the college hours to gain more knowledge on the subject. Browsing different websites and online tutorials also enable me to have deep knowledge and complete the project on time (See Appendix 1). Reflection Strategic Planning Strategic planning is referred to the method of identifying the plans of the companies or organizations for attaining their mission. Planning of organizational level and divisional level should be directly related with the tactical plan of the company (Gates, 2010). Through the module, I learnt the process of strategic planning which explains that setting long and short term objectives is as important as developing and implementing the strategies. The Strategic Planning Process Developing the mission: From the module I have learnt that after examining the business environment, the managers should review the mission in order to see if it necessitates to be modified. It declares what business operation the organization is at the present (Lussier, 2008). The mission of Mobile Inc is to generate better financial returns for their shareholders as they serve their customers with the superior quality as well as high-tech products. Analysing the environment: It lays emphasis on those attributes in an organization’s environment that directly have an effect on its opportunities and options (Lussier, 2008). Setting Objectives: Once the mission of the company has been confirmed and its essential issues recognized, the broad strategies need to be build and the specific and general results also need to be sought i.e. the objectives and goals of the company (Namac, 2014). Developing strategies: The module also taught that developing strategies help the company to achieve competitive advantage. Mobile Inc can adopt cost advantage and differentiation strategy to perform better and to gain more market share. Implementing the strategies: After developing the long and short term strategies it’s time to implement the strategies. A company should make use of best practices in order to perform main business activities (Hiriyappa, 2013) (See Appendix 2). Critical Success Factor The critical success factor relates to the definite strategy components, services or products, attributes, resources, capabilities, and business outcomes which influence the profitability of the organization and its continued existence in the particular industry (Gupta, Gollakota and Srinivasan, 2007). Through the module I came to know that the critical success factor defines the major performance areas that are essential for the company in order to attain their mission (See Appendix 3). Key Performance Indicator The module helps me to clear my understanding about the key performance indicator of the company. It should depend upon the company’s strategy and for that intention a proper method must be used (Grabis and Kirikova, 2011). The quantitative key performance indicators of Mobile Inc are the increased sales, return on capital employed, costs, and profit margins. The qualitative key performance indicators are the market share, customer base, returns as a percentage of overall sales, and labour turnover. SWOT Analysis In this analysis, the significant features of a product which may distinguish it from its rivals are recognized (Mello, 2010). By conducting SWOT analysis, it also helped us to know the weakness and strengths of Mobile Inc as well its challenges and opportunities. The company is having opportunities in terms of its increased share price and success in Nasdaq Composite Index. They are facing challenges from Apple Inc, especially from its iPhone 6 plus Smartphone. The inflexible European Union labour law is also one of the threats for Mobile Inc. SWOT analysis on self is done to evaluate my strengths and weaknesses and also to see what opportunities and challenges I have while preparing the projects. It is an important part of self reflection (See Appendix 4). PESTEL Analysis It facilitates a broad scan of the environment and potential and actual factors that would have an effect on the goals if left unmanaged (Murray-Webster, 2010). The module help to gain knowledge of the government policies, overseas trade regulation and taxation policy which have an impact on the functions of the company. Economic factors such as inflation levels, changes in the rate of interest, and economic growth affect the organization’s operation, such as an increase in the rate of interest can reduce business and consumer spending (Bowhill, 2008). Social factors such as income distribution, lifestyle changes, and education level influence the purchasing decision of the people. New discoveries and the rate of technology transfer also will have an effect on the business of Mobile Inc. Legal factors such as product safety, employment law, and merger legislation may also influence the operations of Mobile Inc. Porter’s Five Forces Model The module assists me in gaining a deep knowledge of the Porter’s five forces model which suggests that supervisors or managers must formulate strategies and approaches with an excellent knowledge of the industry inside which they are generally competing. The five forces are the competitors, suppliers, new entrants, substitutes, and the customers (Schermerhorn, 2009). An attractive industry encompasses few challenges from the substitutes or new entrants, little prevailing competition, as well as low bargaining power amongst buyers and suppliers. Under these circumstances, strategy formulation is not so difficult for the managers (Bard, 2008). Moreover, a differentiation strategy of Mobile Inc will help them to get competitive advantage over its competitors through its uniqueness of products. A strategy of cost leadership will help the company to get competitive benefit by offering their products at lower cost in comparison to rivals. Feedback on my Strategic Plan My strategic plan involved applying the theories and concept learned from the module on our chosen company. We identified the plans of the companies for attaining their mission. The feedback which we received from our faculty was that the introduction as well as the mission and vision statement was very good. SWOT and PESTEL analysis of the company has been carried out and also alternative strategies for Mobile Inc have been set in order to increase its revenue. Further, forecasted ratios, cost, and financial statement were also prepared to have an idea of its performance after five years (See Appendix 5). Soft Skills Group Working It helped me to develop different skills which are very essential in today’s world. The group projects which are perfectly structured could reinforce skills which are pertinent to both individual and group work. It involves our capability to break difficult assignments into parts, receive and give our feedback on each other performance, plan as well as manage time, improve understanding through explanation and discussion, and will also help to develop stronger interaction skills. Communications Skills There are numerous benefits to having excellent communication skills. I came to learn that it helps us to get our point concisely as well as clearly to listener. The benefit which I have realised from excellent communication skill is that there will be fewer chances of misunderstandings and mistakes. Conflict Resolution Conflict resolution is one of the main components of soft skills. Handling of conflict is very essential when working in groups. I realised that conflict can be managed by recognizing the important matters of others, ability to request compromise, and should have the willingness to forgive and forget. In order to avoid conflict, one requires remaining calm in the discussion, should handle single issue at one time, and should express one’s opinion in appropriate words not in actions. I also came to know that it is also important to be a good listener. When working in groups it is essential to clarify the issues in spite of making assumptions and also require authenticating the other person’s concerns. Time Management It entails not to waste time by chatting instead of doing discussions on significant matters which is related to task. We can also carry our task with ourselves while travelling in order to handle time. Time management can also be done by neglecting the conflicts which takes place when working in groups (See Appendix 6). Evaluation from Group Member Positive experience within the group helped me to contribute towards my learning as well as completion of project on time. When we work in group then a good interaction among the members of team is enable to submit the project on time with limited error. My group members have given positive response on my efficient contribution which was required for the successful completion of the project. They also gave positive feedback on my effort to resolve the conflict whenever difference in the opinion has risen. We also managed the time in an efficient way to complete the project within the prescribed period (See Appendix 7). Outcome Gibbs Reflective Learning Cycle Description: The reflection is on the experience which I have gained while doing the project on Mobile Inc. The project is about the internal and external analysis of the company, which also involves the forecasted figures of its financial position and performance for five years. Feelings: The project was very interesting as it helped me to gain knowledge about the various factors which have an effect on the company. While working in groups, I learnt how to manage time and resolve conflicts among the team members. Evaluation: The good thing about the experience was that I came to know about certain things for example benefits of group working and good communication skill helps me to understand the concept and to give a good presentation. Analysis: The reason for the average performance was that the forecasted data of Mobile Plc comes out to be a bit confusing as it does not involve the calculation of the ultimate figure. Conclusion: I have gained enough knowledge about the concept of strategic planning and control which is done by each company in order to identify their plans for attaining their mission. The critical success factor assists the company to avoid wasting resources on the less important areas. Action plan: The action plan includes the detail analysis of the particular industry on which the project will be assigned. It will also involve the detail competitor and environment analysis which is very important for every company to formulate its strategies. While forecasting the figures key performance indicator and past performance of the company should be taken into consideration (See Appendix 8). My future plan involves practising this subject even after the completion of this semester by having in touch with the faculties who will help me to enhance my level of understanding, through the reference books from the library and also by taking the help of my colleagues who have enough knowledge on this subject. Reference List Bard, T., 2008. Opportunity Recognition. Michigan: Tim Bard Multimedia. Bowhill, B., 2008. Business Planning and Control: Integrating Accounting, Strategy and People. England: John Wiley & Sons. Gates, L.P., 2010. Strategic Planning with Critical Success Factors and Future Scenarios: An Integrated Strategic Planning Framework. United States: Carnegie Mellon University. Grabis, J. and Kirikova, M., 2011. Perspectives in Business Information Research. Heidelberg: Springer Science & Business Media. Gupta, V., Gollakota, K., & Srinivasan, R., 2007. Business Policy and Strategic Management. New Delhi: PHI Learning Pvt. Ltd. Hiriyappa, B., 2013. Corporate strategy formulation and implementation process. United States: Booktango Publication. Lussier, R., 2008. Management Fundamentals: Concepts, applications, skills and development. United States of America: Cengage Learning. Mello, S., 2010. Customer Centric Product Definition. United States: PDC Professional Publishing. Murray-Webster, R., 2010. Management of Risk. Ireland: The Stationery Office. Namac., 2014. Basic steps to a strategic planning process. [online] Available at: < http://www.namac.org/strategic-planning-steps> [Accessed 9 Jan 2015]. Quinn, F.M., 2000. The Principles and Practice of Nurse Education. United Kingdom: Nelson Thornes Ltd. Schermerhorn, J.R., 2009. Exploring Management. England: John Wiley & Sons. Appendices Description Appendix 1 The activities of reflection play a significant role in helping us to understand and analyse what we have learnt from the module and how we can apply it in our project. It also includes the ways how to learn this subject. The module helps me to gain sufficient knowledge on various topics. To name a few those topics are: strategic planning process, PESTEL analysis, porter’s five forces model, SWOT analysis, key performance indicator, product life cycle, corporate social responsibility, corporate governance, ansoff matrix, joint venture, strategy alliance, franchising, portfolio analysis, BCG matrix, etc. How I used it: I have applied the concept in my project while conducting internal and external analysis of the company. I had gain knowledge on this subject (strategic planning and control) through the help of module and by listening very carefully to the lectures. I used to visit library after the college hours to gain more knowledge on the subject. Moreover, faculties are always there to provide me support whenever needed. They give their important time to every student without any hesitation. Advantages and disadvantages: The advantage of my learning is that it helped me to apply the theories and concept in practice while evaluating the company. The disadvantage was that I had missed some points while preparing the project. To have better understanding on this subject I could have browse different websites related to the subject matter in order to have more knowledge on the particular topic. Online tutorials may also help me to gain deep knowledge about certain topics on which I was facing difficulties. I could have follow other reference books which are available in the library in order to enhance my knowledge and skills which further assist me in undertaking the assignment and presenting it in an efficient way. Future plan: If I would be assigned similar task in the future then, I would first develop my understanding and knowledge on the particular subject so that there would be no or less chances of mistakes. I would also do a detail analysis of the company environment because it is very important to forecast the financial statement. I will like to undertake this project again to observe my area of improvement. Reflection Appendix 2 The Strategic Planning process . Appendix 2 How I used it: The strategic planning process taught during the lectures helped me to develop understandings about the different stages in the planning process. I have used the strategic planning process in the assigned task which includes developing the planning process for our chosen company. The strategic planning process is discussed below: First step is to develop the mission of the organization. A mission generates a vision or an image of where the organization is and why. The understanding helps me to apply it in the assigned project. The mission of Mobile Inc is to generate better financial returns for their shareholders as they serve their customers with the superior quality products. Second step is to analyse the environment of the company. It focuses on those aspects that directly have an effect on its opportunities and options. Third step includes setting the objectives of the company. The module helped me to understand that developing strategies help the company to achieve competitive advantage. Finally, strategies should be implemented in order to carry out the main business activities. Advantages and disadvantages: The advantages of strategic planning process are that it will be helpful in planning my schedule in my daily life. My mission would be to listen very carefully to each lecture in order to clear my doubts and develop my understanding related with particular subject. It will help me to grab the opportunities of taking the projects of my colleague who is planning to go on extended leave which will further assist me towards gaining the experience on certain topic. My objective will be to perform better in relation to my colleagues. The strategies include collecting the learning material from library. By implementing the strategies I could give my best performance in the class. The disadvantages of this process are that it comprises of several steps which are related to each other and should be continuously adjusted. So, it is a complex process. If it is applied in real practice i.e. in organization then it is expensive to perform for medium and small businesses. Future plan: If I would assign a similar task in the future then I would do more detail analyse of the environment of the company in order to set its long term objectives and strategies in a better way. My strategies would involve taking help of free online tutorial materials, as well as ask the faculties to clear my understandings relative to particular concept in which I am facing difficulties. Appendix 3 Critical Success factor How I used it: The module helps me to gain knowledge about the critical success factor which defines the major performance areas that are essential for the company in order to attain their mission. I have developed the critical success factor of my chosen company in my assigned project. By identifying the critical success factor, Mobile Inc can satisfy and attract new customers, create successful rapport with suppliers, as well as secure financing for growth. The critical success factor relates to the definite strategy components, services or products, attributes, resources, capabilities, and business outcomes which influence the profitability of the organization. Advantages and disadvantages: The module helped me in many ways. I came to learn that it can also be applied to my daily life. The advantages are that by doing the self assessment I discovered some critical success factor within myself which will help me in my personal growth. Those critical success factors could be: Education: Education is very important for personal growth. As I am pursuing my study from one of the most recognized college so, my education will help me to get best jobs in future. Skill: My analytical and communication skills will facilitate me in doing the project in an excellent way as well as in giving outstanding presentation in front of the class. Positive mental attitude: Having a positive mental attitude is very important in moving ahead in life. It also affect our decision making process. I always look at every situation in a positive manner irrespective of the problems associated with it. Whenever any project is assigned to me, I never thought that it can’t be done. In spite of it, I took it in a positive way and perform my task with my whole effort. Creativity: It is a wonderful means towards moving forward in life as well as to enhance the pace at which we are achieving our goals. I continuously look for better means of how to increase my knowledge and understanding and then apply it in the assigned task. The disadvantages are that identifying the incorrect success factors can be harmful to a company. A company that lay emphasis on profit but ignores the eradication of long term debt might become susceptible during economic downturns. Future plan: The future plan includes increasing my education and creativity through paying attention to each lectures, accessing books from library, taking help from colleagues, and also through browsing relevant websites. If I would have to do the same task in the future, I will develop more enhanced critical success factor which will relates to the attributes, resources, capabilities of the business and therefore will influence the profitability of the organization. Appendix 4 How I used it: I had developed the SWOT matrix for our chosen company as well as for myself to identify my weaknesses, strengths, threats and opportunities. SWOT Analysis of Mobile Inc. Strengths 1.high profit and shareholder equity 2.advanced tech & a lot of features 3.good cash flow Weaknesses 1.high price Opportunities 1.increased share price 2. success in Nasdaq Composite Index Threats 1.inflexible EU labor law 2.Apple launched iphone 6 plus SWOT Analysis of Self Strengths 1. I possess good inter-personal skills. 2. I am good at time management while doing the project which helps me in submitting the project on time. 3. I possess strong writing skills as well as communication skills which enables me in giving excellent presentation. 4. While working in groups, I am good at dealing with disagreement or conflicts. 5. Strong technical knowledge in the area of software, hardware and programming language. 6. Having capability to perform a task under pressure, self – discipline, strong work ethic, creativity, and also having high level of energy. 7. Good in teamwork and also having leadership skills. Weaknesses 1. I suffer from bad attention span i.e. can’t concentrate on particular thing for very long time. 2. Sometimes I lack stress management skills. 3. I avoid the task in which I am not confident. 4. I am too emotional and also shy at some occasion. 5. Having personality trait such as fear of public speaking sometimes hold me back. 6. I somehow lack analytical/critical skills, as verified by my result. Opportunities 1. I have opportunities in terms of getting educational classes which would help me to obtain more knowledge. 2. I could take the projects of my colleague who is planning to go on extended leave. This will help me to gain experience. 3. Assigned a project on analysing the internal and external factors of company and to forecast its financial statement for five years. This will help me to learn new skills as well as techniques of accounting and marketing. Threats 1. Competition from my colleagues who also possess enough knowledge. 2. Obstacles in my way while preparing the project such as arising of conflict in the groups. This deviate the mind from the subject and leads to poor presentation. Advantages and disadvantages: The advantages of this concept are that it helped me to develop a SWOT matrix of myself. It further helped me to identify my strengths and weaknesses. By recognising the weaknesses I could now take steps to overcome it. I also come to know that what opportunities I have in terms of getting educational classes which would help me to obtain more knowledge and forecast the financial statement in a correct way. The disadvantages are that conducting SWOT analysis does not give solutions or provide alternative solutions. It creates too many proposals but does not help us to select which is the best one. Future plan: If I would assign a same assignment in future then I will initially do the detail analysis of company’s market, product, trends, past performance and then conduct the SWOT analysis to present a more accurate description of its weaknesses, strengths, threats, and opportunities. Appendix 5 Feedback on my strategic plan of doing the assigned project on Mobile Inc: How I used it: 1. The introduction of our chosen company was good as it explains the main operations of the company as well as the purpose and objectives of report. 2. The mission and vision statement of the company is fair. It includes the core values and aims of the company. It clearly describes which segment will be served. The mission statement which is set for the company has set the context for strategy formulation within the company. 3. Application of SWOT matrix was very brief and therefore need to be explained in more depth. 4. The advantages and disadvantages of alternative strategies set for the company does not directly relate to it. Recommended long term objectives also need to be modified. 5. The projected cost, ratios, and financial statements were confusing as the workings of the figures were not shown and the data mentioned was simply based on our assumptions. The anticipated result shows that the operating profit, profit before tax, and the net profit increased in the second year followed by a negative figure in the third year and then suddenly mounted to a very high extent in the fifth year. This is confusing because if the company is showing negative figure in the fourth year then it cannot rise to a very high extent in the subsequent year. 6. Our further recommendation for the company was well explained but somehow mixed up. 7. Conclusion was missing which is considered as one of the main part of report. Advantages and disadvantages: The advantage of the feedback is that it helped me to understand the areas where I am lacking. For example, there is need to develop the strategies in a more efficient way which could directly relate to company, the projected cost, ratios, and financial statements were confusing so, the workings of the assumptions need to be shown to have a clear idea of the projected figures, conclusion need to be added, etc. The disadvantage is that by knowing that our performance was just an average in comparison to our colleagues, it low our morale and somehow we felt that we are below them. Future plan: My future plan includes focus more on the relevant theories and concepts which we learnt from the lectures of six weeks, in order to apply it in a better way. It also incorporates detail internal and external analysis which is very important to measure the performance of the company. Appendix 6 Soft Skills How I used it: Soft skills include developing expertise through group working, having good communication skills, resolution of conflict while working in groups, and time management for successful completion of project. I have used my soft skills while doing the project in groups. It helped me to connect with colleagues and faculties, handling conflict in groups, and also assist in submitting the project on time. Below it is discussed in a more detail way. Group working: It helped me to develop different skills which are very essential in today’s world. It facilitates us to break difficult assignments into parts, receive and give our feedback on each other performance, and improved our perceptive on particular subject. Communications Skills: The benefit which I have realised from excellent communication skill is that there will be fewer chances of misunderstandings and mistakes. It also helps me to connect with colleagues and faculties. Conflict Resolution: Handling of conflict is very essential when working in groups. It takes place from difference in opinion when we oppose over the values, perception, and ideas of others. By working in groups, I realised that conflict can be handled by identifying the crucial matters of others, ability to request compromise, and should have the enthusiasm to forgive and forget. Time Management: Time management can be done by neglecting the conflicts which takes place when working in groups. In order to manage time while doing the project, we required to set goals and prioritizing those objectives. Advantages and disadvantages: The advantages of group working are that it facilitates us to break difficult assignments into parts and also helped to develop stronger interaction skills. Communications Skills assist in keeping my view in front of faculties and team members. My soft skills assist me in handling the conflict which arises in groups. While working in groups we also need to decide how much time we will allot to exact task. Management of time helped us complete the project on time. Other advantages are that more thoughts can be generated and there will be a greater diversity of opinions and ideas. There will be a more prospect for sharing knowledge and skills. The disadvantages of group workings are that there are more chances of conflict to take place which hurts the feelings and sentiments of people and weakens the relationship among colleagues. Sometimes we misunderstand the messages and intentions of other group members and it also converts into conflict. Future plan: My future plan involves giving equal priority to everyone ideas in order to handle the conflict and carry on the task in more efficient way. It is also important to be a good listener. We need to pay attention on the areas of agreement and common interest, in spite of the areas of opposition and disagreement. Appendix 7 Evaluation from group member What happened: Advantages and disadvantages: The advantages of the evaluation are that I get to know their opinions about me. My ideas were accepted by my group members and also applied in the project. Their opinions reflected their feelings about me and towards my opinions and suggestions in the project. I got positive feedback on my effort to resolve the conflict. I also suggested my group members to remain calm in the discussion. Other advantage of evaluation is that it will increase my responsibility and involvement in the group project. It focuses on the growth of my judgement skills. The disadvantage is that evaluation from group member has a possibility of being perceived as a process of providing inflated grades and being unreliable. It may be possible that they do not give the correct feedback as to not hurt my sentiments. Future plan: My future plan involves selecting the best people among us to give his opinion on my performance and take his suggestion as a priority. It will help me to improve on the areas that need to be recovered. Outcome Appendix 8 (Source: Quinn, 2000) Gibbs reflecting learning cycle I have used the Gibbs reflecting learning cycle to have an overview of my reflective learning from the module. Description: I was assigned a project in which I have to apply my knowledge and learning which I have gained from the module. The project is about the internal and external analysis of the company which also incorporates the strategies adopted by the company for being ahead of its competitors. Feelings: The knowledge which I have gained from the lectures of six weeks as well as through accessing the reference books helped me to carry out the project successfully. It was a group project and I found it very interesting as different ideas from the group members helped to complete the project on time. However, the feedback on our project is not up to the mark as we need to do amendments in various areas including the strategies and action plan of Mobile Inc. Evaluation: It includes the advantages and disadvantages about the experience while doing the project. The advantages about the experience were that I came to know about benefits of group working. The good communication skill helps me to give a good presentation. The disadvantage about the experience was that our performance was average as compared to our colleagues. Analysis: Feedback received from our faculty reflects the cause of our average performance. The forecasted data of Mobile Plc comes out to be a bit confusing as it does not involve the calculation of the ultimate figure. My team members also give their best effort in completing this project but somehow we lack in applying the concept in a correct way. Conclusion: The team members also contributed their best and suggested their opinions towards the successful completion of the project. It is not enough just to forecast the figures on the basis of assumption. It requires considering various features of the company such as its position in the industry, key performance indicator of the company, and also its past performance in relation to its rivals. Action plan: The action plan involves detail competitor and environment analysis which is very important for every company to formulate its strategies. Apart from this, my own future plan involves pursuing this subject even after the completion of this semester. I will continue to study this subject through the reference books from the library, by having in touch with the faculties who will help me to enhance my level of understanding, and can also take the assistance of free online tutorials. I have learnt that just understanding the concept is not important; we need to apply it in real situation. I need to set my objectives and goals to develop my analytical skills to apply it in the real world when handling the assignment in the company. My experience will help me to handle the difficult task as well as situation as an employee in a company. I will manage the task through the experience which I have gained in college and manage the situation in group projects by respecting my colleagues and welcoming their suggestions in every matter. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Individual reflective learning log Coursework Example | Topics and Well Written Essays - 4000 words, n.d.)
Individual reflective learning log Coursework Example | Topics and Well Written Essays - 4000 words. https://studentshare.org/management/1855417-individual-reflective-learning-log
(Individual Reflective Learning Log Coursework Example | Topics and Well Written Essays - 4000 Words)
Individual Reflective Learning Log Coursework Example | Topics and Well Written Essays - 4000 Words. https://studentshare.org/management/1855417-individual-reflective-learning-log.
“Individual Reflective Learning Log Coursework Example | Topics and Well Written Essays - 4000 Words”. https://studentshare.org/management/1855417-individual-reflective-learning-log.
  • Cited: 0 times

CHECK THESE SAMPLES OF Strategic Planning and Control

Case: Ford Motor company

Proper Strategic Planning and Control is needed to implement an effective action plan.... it should be part of the strategic planning as there are risks that are outside the control of the organizations and such changes is the market condition can be considered as an example exogenous risks.... The risk of having such a change in the technology can be minimized by implementing proper control systems within the organization.... During the planning process, such changes in the market should be accounted for and proper strategies should be created that may help in minimizing/eliminating such risks....
3 Pages (750 words) Essay

The Advantage of Viewing Organisational Performance Through BSC

Keywords: BSC, Process-Based Approach, planning and control, Performance 1.... In the context of a process-based approach, a Balanced Scorecard (BSC) can add value by proper planning and control system (Karel, 2012).... Basic Tenets of Balanced Scorecard Approach MacLellan (2007) states that foundational tenets of BSC include the proper alignment of organizational strategies, interpretation of strategies in functional terms, making the accomplishment of strategies as a regular part of the job, making strategic tasks a constant procedure, and mobilizing changes through an appropriate leadership....
11 Pages (2750 words) Research Paper

Management Accounting and Organizational Control

Management accounting deals with operational planning and control along with Strategic Planning and Control.... This means the OPC is a consequence of Strategic Planning and Control.... The OPC is dependent on Strategic Planning and Control.... When operational planning and control is considered, the business processes like purchasing, manufacturing, distribution, sales, service and design must be dealt with.... The design, analysis and control of individual production units and networks are part of operational planning and control....
11 Pages (2750 words) Essay

Future Innovative Design in Virgin Galactic

This company was founded in the year 2004 and since that time it has been planning on rendering the unique services of offering spaceflights for the public that has the willingness along with the purchasing power to travel through this experience of space flights.... Virgin Galactic is part of Virgin group of companies....
7 Pages (1750 words) Case Study

Strategic Planning and Control

Undoubtedly, the task helped me to obtain an in-depth understanding to the functions of an organisation, while making me identify my personal developmental needs when conducting similar studies.... Based on these developmental needs that I could identify, I intend to provide a.... ... ... description of my technical skills that were used in accomplishing the tasks as well as the outcomes of using those skills along with the advantages and disadvantages, which would further justify my learning needs for the short run....
10 Pages (2500 words) Assignment

Strategic Planning and Control

Each week had a differing input with respect to the nurturing of my Strategic Planning and Control approaches.... Such was advised by the respective entities that defined the study of strategic planning and its input in the characterization of business.... Upon its commencement, an impression on the prospects of strategic planning was considered.... he contributions annexed to the respective evaluative roles associated to the lesson of the second week played a significant role in the description of strategic planning as perceived by the corporate world....
17 Pages (4250 words) Coursework

Wall Street Journal Foreign Investment

The article Foreign Investment Surges highlights the trends of investors in the foreign market in the United States in the years after the financial crisis.... The author notes that foreigners are escalating.... ... ... The paper "Wall Street Journal Foreign Investment" is a perfect example of a finance and accounting case study....
8 Pages (2000 words) Case Study

Strategic Planning and Control - How to Plan for the Future of a Business

The paper "Strategic Planning and Control - How to Plan for the Future of a Business" is a wonderful example of an assignment on management.... The Strategic Planning and Control (SPAC) module were started with the aim of deriving four major learning outcomes.... The paper "Strategic Planning and Control - How to Plan for the Future of a Business" is a wonderful example of an assignment on management.... The Strategic Planning and Control (SPAC) module were started with the aim of deriving four major learning outcomes....
8 Pages (2000 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us