As CEO of your Company, how would you explain the five (5) primary, irreducible
ID: 399886 • Letter: A
Question
As CEO of your Company, how would you explain the five (5) primary, irreducible steps to the strategic planning process and there usage/application to your employees? A diagram of the five steps may be helpful in formulating your answer.
The 5 steps of the formal strategic planning process:
1. Select the corporate mission and major corporate goals.
2. Analyze the organization’s external competitive environment to identify opportunities and threats.
3. Analyze the organization’s internal operating environment to identify the organization's strengths and weaknesses.
4. Select strategies that build on the organization’s strengths and correct its weaknesses in order to take advantage of external opportunities and counter external threats. These strategies should be consistent with the mission and major goals of the organization. They should be congruent and constitute a viable business model.
5. Implement the strategies.
Explanation / Answer
Answer 1 :
Corporate Mission : To create and promote healthy, organic, tasty and natural beverages.
Corporate Goals :
a. Develop a sustanable and profitable fast growing community.
b. Encourage customers to choose natural and organically grown food.
Answer 2 :
a. Opportunities :
- International expansion could support the margin growth for the company.
- Launching their own store which can reduce supply chain cost and attract price conscious customers.
b. Threats :
- Competition from local supermarket, natural food stores, which will pressure the company especially from high price point.
- Negative publicity such as over price can affect the potential customers.
Answer 3 :
a. Strengths :
- Maintaining the higher quality standards by not adding any artificial flavors, sweetners, colors etc.
- Earning growth as customers are now more conscious about their health and try to eat organic and natural foods.
b. Weaknesses :
- Recession can negatively affect company growh.
- Competition, customer perception, quality etc
Answer 4 :
a. Launching new product line which can give prove as competitive advantage.
b. To increase revenue and sales growth company need to find new sales channels.
Answer 5 :
a. To launch new product line, company need to review customer feedback received to determine the product that will be in line with the existing products.
b. To find need and gap between the product available in the market, market research would help.
c. Advertise the product through different channels like, email promotion, offers to attract new customers etc.
d. Improving customer experience while purchasing products, giving sales team targets by implementing goals.
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