Strategic Planning and Development - Case Study Example

Strategic Planning and Development (Tourism Perspective) Table of Contents The Organization 3 2.Purpose of the Organization 3 3.Identified Problem of the Company and the Opportunity of the Strategic Plan 4 4.Goals of the Plan 5 5.Organizational Position 5 6.Situational Conditions 6 7.Targeted Audiences 7 8.Audiences’ Membership 8 9.Competitors 8 10. Competitors’ Strengths 8 References 9 1. The Organization Masdar was established in the year 2006 in United Arab Emirates. It is presently operating as a ‘wholly owned subsidiary’ of the Mubadala Development Company entirely controlled by the Abu Dhabi Government. The company’s operations diversify in two broad categories of renewable energy and sustainable technology. Thereby the company requires abiding by the ethical issues with great concern in order to attain the efficacy of its operations. Masdar, in this regard, functions through five incorporated divisions such as the graduate university which primarily focuses on researches related to the renewable energy production and other components of the sustainable technologies industry. It is noteworthy that the company, being controlled by the Abu Dhabi government, has noticeably confirmed its position as a catalyst to accelerate the economic diversification of the country (Masdar, n.d.). 2. Purpose of the Organization The organization, being associated with the renewable energy and sustainable technologies industry, must abide by the issues related to the environmental aspects of the economy such as the natural resources, the socio-cultural factors and others. Considering the fact it can be stated that the purpose of the organization is highly depended on the industrial growth and its future prospect. In this milieu, the vision and mission statements of the company focus on the overall development of the economy in the global perspective in terms of knowledge, implementation and expansion of the renewable energy and sustainable technologies industry (Masdar, n.d.). Apart from these, the company also aims to contribute to the economic diversification through the expansion of its export base, stimulating entrepreneurship in the private-sector, investing in educational and research initiatives in order to encourage innovative ideas, generate skilled knowledge workers and others. The key purpose of the company also includes increasing the economy’s non-oil share in the global market. With this purpose, the company is concentrated on the prioritized sectors of the economy such as media, tourism, transportation & logistics and aviation & aerospace (Masdar, n.d.). 3. Identified Problem of the Company and the Opportunity of the Strategic Plan The core values of Masdar have been defined by emphasizing on various attributes active in its micro and macro environment, such as the organizational objectives and the nature of the industry. These values demonstrate one of the major problems of the company, i.e. to market the clean technology products as commercially viable in order to reward a swift and sustainable growth to the economy (Masdar, n.d.). Therefore, the strategic plan that is to be illustrated in this paper is aimed to the purpose of the organization with a significant concern on the challenging factors most likely to be witnessed by the company. In this regard, the planning will be based upon the travel and tourism sector of the economy. It is basically due to the fact that the travel and tourism industry in the current phenomenon is highly prioritized by the economy. Additionally, the growth prospect of the industry is termed to be substantial in the near future which can ensure a sustainable growth to the company in marketing its products. Furthermore, the industry is recorded to grow with rapidity with an increased demand of technology which again enhances the growth perspective of the company and the economy at large. Hence, the plan shall reward the company with opportunities related to its expansion and the growth of the economy in the near future. 4. Goals of the Plan To be precise, the goals of the plan will be principally emphasized on the sustainable growth of the company and the economy as well. From such point of view, the strategic planning shall adhere to the company’s vision and mission statements along with a considerable significance to the core values of the company. The plan shall further be aimed at innovating fresh ideas to relate the renewable energy and the sustainable technologies industry with the prospects of travel and tourism industry. However, the prime goal of the strategic plan is to enhance the market of the clean technology products in the global market, which shall stimulate the company’s operations in order to achieve its ultimate objective to enhance the growth of the economy as a benchmark in the global platform. 5. Organizational Position With relation to its organizational position, Masdar functions through five different units including the Masdar City. This city has been eventually termed as one of the most sustainable cities of the world. The city includes almost 40,000 residents and business firms which consequently are integrated with renewable energy and clean technology products (Masdar, n.d.). In addition, the organization was also recorded off-late to expand its operations in the field of social media. This largely enabled the company to increase the demand and enrich the knowledge of the global participants related to the products rendered by the company (Masdar, 2011). Furthermore, the organizational operations are emphasized on the prioritized sectors of the economy such as aviation & aerospace, transportation & logistics and tourism which altogether contribute to the travel and tourism industry (Masdar, n.d.). With reference to the above described facts, it can be stated efficiently that the organizational position in relation to the issue is quite strong and sustainable. To be specific, the organizational operations performed by Masdar are likely to be less challenging and quite substantial to strengthen the opportunities headed by the plan. 6. Situational Conditions The plan suggested in the paper is highly depended on the industry perspectives of tourism sector and the stability of the organization. In relation to the later factor, i.e. the situational condition of the organization, it can be stated that the company is at a significant position. It is due to the fact that the organization is principally a government owned subsidiary which makes it a risk free organization to an extent. Moreover, as it incorporates multiple units, the stability of the company also gets enhanced. However, related to the former factor, i.e. the situational condition of the tourism industry in United Arab Emirates, the plan must consider a few major opportunities and threats active in the current scenario of the market. It is worth mentioning that the tourism industry in the UAE is mainly focused on two major cities, i.e. Abu Dhabi and Dubai. Conversely, by the fourth quarter of 2010, the industry was reported to be on the recovery stage at a favorable condition. According to the annual report, a decline in the total number of European visitors was recorded by 10% (y-o-y) in Dubai. On the contrary, the tourism industry in Abu Dhabi was recorded to grow by 16% y-o-y, which is a remarkable opportunity for the organization (Report Linker, 2010). 7. Targeted Audiences Considering the principal aim of the organization to enrich the knowledge of the mass audiences in relation to the products rendered by the company, it shall be highly beneficial to target the youth as the prime audience. Besides, the audiences related to the corporate field can also be targeted in this regard. 8. Audiences’ Membership The targeted audiences in this case should be the members of regional platform. It is due to the reason that most of the economies in the global market are still at their recovery stage and therefore are less reliable to an extent. However, the eastern region is perceived to grow with substantial rapidity which can boost the opportunities for the organization. 9. Competitors The competitors in this case can include the major players in the international market. It is due to the fact that almost every economy is targeting the markets of the eastern region primarily comprising the developing economies. 10. Competitors’ Strengths The competitors’ strengths in this case can be stated as the growing demand of the eastern region in terms of outbound tourism. With an overall point of view, the social-preferences of the region can also enhance the strength factor of the competitors (Press Release, 2010). References Masdar, (No Date). Background. About Us. Retrieved Online on February 03, 2011 from http://www.masdar.ae/en/Menu/index.aspx?MenuID=42&CatID=12&mnu=Cat Masdar, (No Date). About Us. Menu. Retrieved Online on February 03, 2011 from http://www.masdar.ae/en/Menu/Index.aspx?MenuID=42&mnu=Pri Masdar, (No Date). Masdar City. Our Units. Retrieved Online on February 03, 2011 from http://www.masdar.ae/en/Menu/index.aspx?MenuID=48&CatID=27&mnu=Cat Masdar, (2011). Masdar Expands Social Media Efforts To Enable Global Conversation During #WFES2011. Media Centre. Retrieved Online on February 03, 2011 from http://www.masdar.ae/en/MediaArticle/NewsDescription.aspx?News_ID=161&News_Type=PR&MenuID=55&CatID=64 Press Release, (2010). World Travel Market Global Trends Report 2010. World Travel Markets Global Travel Trends Report Identifies The Next Seven Global Emerging Trends. Retrieved Online on February 03, 2011 from http://www.zawya.com/story.cfm/sidZAWYA20101108145443/World%20Travel%20Market%20Global%20Trends%20Report%202010%20/ Report Linker, (2010). Tourism Overview. United Arab Emirates Tourism Report Q4 2010. Retrieved Online on February 03, 2011 from http://www.reportlinker.com/p0155699/United-Arab-Emirates-Tourism-Report-Q4.html Read More