Develop a minimum of 700-word section for your business model and strategic plan
ID: 370761 • Letter: D
Question
Develop a minimum of 700-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.
Identify marketing and information technology as part of the strategies and tactics section of the business plan.
Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
Determine the best possible options for evaluating the strategic plan.
Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.
Show, in this section, the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation.
Explanation / Answer
Ethical issues
Managing ethics are an integral part of any business development. If any organization is unaware to maintain good ethics there can be some loss of business. Side by side some responsibilities are also required to meet the social needs in business and proceedings various fundamental rules in the organization. Ethics are the general principle to maintain a cultured organization in presence of working environment and internal procedure of work to sustain the business in the organization.
The organization to take seriously about ethics as employees in the organization are always eager to work in an ethical environment as it suits their basic need to work efficiently. Various processes like employee interbehavior in the organization among different employees maintaining good gestures with juniors and seniors are highly essential. It will help to maintain a good working standard in the organization growth. Structured and highly maintained workforces are most important part of the good ethical process. If an organization does not follow the rules and regulations with the employees meets with a lot of issues which further needs to be escalated by the managers and in this way both growth and reputation of the company can be hampered.
Ethics are some point of fixing right judgmental practice which is very necessary to be furnished for the growth of any organization. All are seeking good practices, rules, and quite a good standard infrastructure in an organization. It is the strength that is developed by its rules which are very necessary to make it in any organization for the better work process. It always gives the satisfactory output in the growth in any organization. Like for an example if the rules and regulations in any company are not good then its employees will not get that belief whether they can make any growth in future with the organization, so to make organization practice good it is very necessary to maintain good ethical and genuine environment with respective of rules, policies, functioning and maintaining those ethical rules for the betterment of the organization.
Strategic Plans
Operating business is the continuous process which follows some effective strategies and needs a proper builds up of planning for the growth and development of the business in the market. It will help any organization to meet the goals. The main important factor is the proper scheduling of business sequentially by arranging, controlling and monitoring all the work done by the employees of the company. It also concentrates on areas like allocation of machinery to workers; give them the targets to fulfill as per the work demand and to follow up the quality standards during manufacturing of the products.
Proper scheduling process helps the organization to reach the goal and gets the opportunity to improve the areas which are necessary for the growth of the company. But if it is not maintained with proper strategies, planning and principles then massive decline rates in production can occur which may lead to a loss in production of the company. It destroys the customer’s happy relationships bonding with the company because it no longer gives that assurance to deliver the product on correct time. Also, they fail to make the standard of product which the clients are demanding from them.
The scheduling process is very necessary to control the workforce of the company which is the soul of any organization without a workforce, proper machinery and sufficient skilled workers the continuous flow in production cannot be achieved. Step by step process is very much accepted for the regular interfaces of work, otherwise, lazy workers will take the advantage not to work on targets and they will never understand the importance of the client's relation which is the earning source of any organization.
It is necessary to build up the process of scheduling of plans, controlling activities are need to be done and lastly making a report analysis of the day to day work is a mandatory part of any organization. These are the factors which are very necessary to make the scheduling process for the better growth in any organizations.
Marketing
Marketing affects the customers in many ways it is the initiation process to launch any product on the market so the company should ensure that the process of marketing should be done by following all the strategies and it should concentrate on the areas which are necessary to be followed. It is the point at which the customers get aware of the launching of the products.
Marketing performance comes from the point in which the market products are satisfying the customer’s needs and fulfills the standards. Management can easily assess marketing performance through its sales in the market and through the break-even analysis. The performance can come from various ways it is necessary to consider all aspects of the business from company workforce to raw materials supply and everything that is counted while it comes for a performance. A management is very necessary to keep an eye on the ongoing process; this will ensure them to bring better products to the organization for the customers.
Three methods to monitor and control are as follows:
1. Auditing 2. Break-even analysis 3. Regular focus on workforce
The auditing is the prime aspect which gives the clear idea about the entire work process that has been done. How well are the strategies maintained? The auditing shows the detail report generation of the work process, the profit made and other business outcomes are listed in this cause. The second is the Break-even analysis which managers always keep a close watch; it shows the ratio of the production cost with respect to profit. It can be understood by this concept that how far the strategies have made the place in correct marketing to sustain the business objectives. To develop good strategies regular focus in the workforce are absolutely necessary as because it will give the general outline that the assign works are going on the process or not. It will control all the factors of day to day production and give the company an outline of the work progress as per the strategies.
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