The proposed method is based on three pillars, namely, the SWOT Analysis, Balanc
ID: 346999 • Letter: T
Question
The proposed method is based on three pillars, namely, the SWOT Analysis, Balanced Score Card and Internal Procedures and is called S.B.I. The proposed method encompassed inputs at two levels: yearly and monthly. First, the vision and core values of the organisation were taken into consideration. A vision represents the strategy company’s core values in which an organisation hopes to remain or to go in the future. A well conceived vision statement consists of core ideology and envisioned future. SWOT analysis, as a strategic planning method, penetrates strategic insights. The SWOT analysis might develop a set of strategies that makes sense. Strategic Objectives identify the path that an organisation must pursue to accomplish its mission and be aware of its vision. Strategic Objectives can be derived from the customer focus taking in consideration their needs and expectations. A classification of the Key Performance Areas (KPA) was conducted followed by defining metrics for the most important business processes. These performance areas were captured based on the paths which were identified from the Strategic Objectives (SO) analysis. The next step was to identify the Key Performance Indicators (KPI's) which were used in each perspective. KPIs represent a set of measures focusing on those aspects of organisationalperformance that are the most critical for the current and future success of the organisation The first area covers the Balanced Scorecard with KPIs focusing on four different perspectives. financial, customer, internal business process and learning The second area includes KPIs that dynamically account for the changes in the external environment. Sales performance is influenced by the instability of changes in the external, local and international environment. The third area focus on Employee satisfaction. Employee job satisfaction and performance can be moderately related (Judge et al., 2001). Measuring job satisfaction provides feedback in terms of diagnosing potential problems as well as productivity issues A method which can be used for measuring employee satisfaction is a survey questionnaire with mainly closed questions. The following step of the S.B.I. framework is the presentation and tracking of the KPIs results. it is important to have a capable and easy-touse reporting environment at our disposal which leads to better business decisions. A reporting analysis tool. The KPIs were allotted into four different classes of performance actions, that is, the training development, corporate communication, internal communication and internal procedures. Corporate communication, can be retained as “marketing communication; organisational communication; management communication”. Blended learning methods may increase sales performance Internal communication can take many different forms such as face-to face, informal meetings, email messages, letters, memos and reports. Communication will have a positive influence on the participation of all the involved staff in the derived actions. Internal procedures Support the continuous improvement approach of the quality management system of the organisation. Evaluation of the derived actions aims to distinguish aspects that went well and others that did not, based on the performance results of the current month.
Please feel free to express your critique about what purposes does S.B.I Model (Vouldis, 2013) approach serve? Discuss what is involved in each process. Could be developed in any areas of industry? What problems can you identify with this approach?
Explanation / Answer
The S.B.I. model approach serves several aspects of the organization. As the case suggests, the strategic objectives are identified using SWOT analysis. The balanced scorecards are indicative of the performance activities and the internal processes helps the organization activities align with the strategic objective. Overall the model is appropriate for organizations to build strategy, align activities and measure performance.
The SWOT analysis process identifies the strength, weakness, opportunities and threat of the organization. It provides the management with insights to plan strategic objectives, identify the improvements needed and to tap new opportunities.
The Balanced scorecard ensures that the organization identifies key performance areas and the key performance indicators. This is done as per the strategic objective and the objectives the organization plans to achieve.
Internal processes define the communication processes and quality management activities within the organization. These includes continuous process improvement, evaluation of quality and performance management systems.
The S.B.I model can be developed for pretty much any industry as the requirements that are served is common for any business. For example, every organization needs a strategic direction. Every organization requires a process to follow and to measure their performance. While the details may vary, the model will remain the same.
The only problem with the S.B.I model is that, there isn’t much focus on the macro-environment factors. This means the model focuses more towards an organization’s introspective. We also need to consider the macro factors such as the market scenario, competitors, entry barriers etc. Something like a Porter’s five forces could be included to build the SWOT analysis.
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