Management of Virgin Experience Hong Kong - Essay Example

Effective goal setting as described in the Adam Six Sigma website is as follows:

1. A well organize strategic planning and goal setting involve distinct steps ;
2. Agreement among the leadership on the values and beliefs that are the foundation of the strategic plan;
3. Understanding current conditions both inside and outside an organization.

Some assessments may be appropriate before starting formal strategic planning;

4. Visualizing the future, as you want it;
5. Setting goals you must achieve and having a goal achievement process for those goals; and
6. Implementing the strategic plan.

VEHK starts planning the strategy to use by analyzing first the possible competitors of the company. This is a good start since one of the effective goal setting described in Adam Six Sigma is a well organize strategic planning and goal setting involves distinct steps. The next step they have done is to make use of a specific strategy and the organization uses Porter's strategy. The Porter strategy focuses on the following; the Broad scope strategy which includes cost leadership strategy and the Differentiation strategy.  VEHK focuses on its low-cost producer in an industry for a given level of quality and for the development of a product or services that offer unique attributes that are valued by customers and that customers perceive to be better than or different from the products of the competition. As stated above one of the effective goal settings should have an agreement among the leadership on the values and beliefs that are the foundation of the strategic plan. To be able to implement a certain strategy the project manager or the one handling the said organization should have a great belief and knowledge of the strategy to be implemented. In Virgin Experience, Hong Kong leadership is important since it is implementing the Porter Strategy which includes Strategy Leadership. It was also mentioned that in making goals the organization must understand the current condition both inside and outside an organization before starting the formal strategic planning. VEHK analyzes first the situation of the travel market and the condition of its environment. Since the time of its implementation the country is suffering from SARS, so they must analyze the situation to be able to have a good approach in the situation to achieve its goal of 15% market share in international travel. The organization must visualize the future by using such a strategy. The company analyzes whether it will be effective or does the company will have a positive result. The goal was set and must overview the future to further develop the needed steps in achieving such a goal. The implementation of the strategic plan – this is the part wherein the suggested strategy will be put in place. VEHK has its strategic plan headed by a group of personnel who has its knowledge and concentration in achieving the company’s goal. Proper implementation of the said plan is important since the success of achieving one’s goal depends on it.