Below are the instructions for the capstone project. I am referring to pacific standard time, Part 1 is due august 14, part 2 august 21, part 3 august 28 and the final part september 4th. This is an assignment for a strategic plan i have attached an outline if you wish to use it.
PART 1 August 14
Purpose of Assignment
Students will have the opportunity to research a company and industry to conceptualize forming a new division of an existing company based on a new product or service. The assigned text and Strategic Planning Outline serve as a guide to complete sections of the capstone project each week. This will allow the student to lay the basic foundation for an effective strategic plan. A final plan will be presented in Week 5.
Resources: Strategic Planning Outline and Week 2 textbook readings
Use the Strategic Planning Outline as a guide to complete sections of your capstone project each week. A final strategic plan is due in Week 5. Cite your resources.
Develop a minimum 1,400-word proposal in which you explain the importance of innovation in your selected division’s vision, mission, and values, and determine your business model for this new division.
Include the following:
- Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure you are differentiating your product or service.
- Describe how the division addresses customer needs and achieves competitive advantage.
- Create a vision and a business model for this new division that clearly demonstrates your decision on what you want your business to become in the future.
- Explain how the vision, mission, and value of the new division align with the company’s mission and vision.
- Summarize how the vision, mission, and values guide the division’s strategic direction.
- Define your guiding principles and values for your division in the context of culture, social responsibility, and ethics.
Cite a minimum of two peer-reviewed references.
Format your paper consistent with APA guidelines.
PART 2 August 21
Purpose of Assignment
Students gain experience conducting an internal and external environmental analysis for their proposed new division and its business model. They will also gain valuable experience in conducting a SWOTT analysis for their proposed division.
Resources: Strategic Planning Outline and Week 3 textbook readings
Conduct an internal and external environmental analysis for your proposed new division and its business model.
Develop a SWOTT table summarizing your findings. Your environmental analysis should consider, at a minimum, the factors below.
- For each factor, identify the one primary strength, weakness, opportunity, threat, and trend, and include it in your table.
- Include the SWOTT table in your submission.
- External forces and trends considerations:
- Industry Changes
- Legal and regulatory
- Competitive analysis
- Internal forces and trends considerations:
- Processes and systems
- Strategic capabilities
- Intellectual property
- External forces and trends considerations:
Compose a maximum of 1,400-word synopsis in which you analyze relevant forces and trends from the list above. Your analysis must include the following:
- Identify economic, legal, and regulatory forces and trends.
- Critique how well the organization adapts to change.
- Analyze and explain the supply chain of the new division of the existing business. Share your plans to develop and leverage core competencies and resources within the supply chain in an effort to make a positive impact on the business model and the various stakeholders.
- Discuss the primary internal organizational considerations for the development of a strategic plan.
- Identify the major issues and/or opportunities the company faces based on your analysis.
Format your assignment consistent with APA guidelines.
PART 3 August 28
Purpose of Assignment
Students will have the opportunity to develop a Balanced Scorecard. This, in turn, will allow them to create effective strategic objectives to be included as part of their overall strategic plan. They will also be presented with the task of creating a brief communication plan that will be used by their proposed division to efficiently distribute information with regard to their strategic initiatives.
Resources: Strategic Planning Outline and Week 4 textbook readings
Create a minimum 1,050-word strategic objectives summary.
Include your balanced scorecard and its impact on all stakeholders, and the communication plan.
Identify key trends, assumptions, and risks in the context of your final business model.
Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis.
Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:
- Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as:
- Market share
- Revenues and costs
- Competitive position
- Customer Value Perspective, which includes strategic objectives in areas such as:
- Customer retention or turnover
- Customer satisfaction
- Customer value
- Process or Internal Operations Perspective, which includes strategic objectives in areas such as:
- Measure of process performance
- Productivity or productivity improvement
- Operations metrics
- Impact of change on the organization
- Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as:
- Employee satisfaction
- Employee turnover or retention
- Level of organizational capability
- Nature of organizational culture or climate
- Technological innovation
Evaluate potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis assignment and table you completed in Week 3.
Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions including the following:
- Identify potential risks and mitigation plans.
- Analyze a stakeholder and include mitigation and contingency strategies.
- Incorporate ethical implications.
Develop a specific metric and target for each strategic objective using a balanced scorecard format.
Example: a strategic objective in the shareholder or financial perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, “The percentage of increase in market share.” The target is the specific number to be achieved in a particular time period. The target for the metric of “Increase market share” could be “Increase market share by 2% for each of the next 3 years” of an increase of 2% per year for 3 years.
Outline a brief communication plan discussing how you will communicate the company’s strategic objectives including the following:
- Define the purpose.
- Define the audience.
- Identify the channel(s) of communication and why you selected that channel.
Format your assignment consistent with APA guidelines.
FINAL Part September 4
About Your Signature Assignment
Signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements.
Purpose of Assignment
The purpose of The Final Strategic Plan is to allow the student to develop a comprehensive strategy for a new division of an existing company. This analysis will be the culmination of all the previous week’s coursework as well as e objectives covered during their entire degree work.
Resources: Strategic Planning Outline and Week 5 textbook readings
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.
Prepare a minimum 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.
Note: Any investor should be eager to meet with you after reading your executive summary.
Use the Strategic Planning Outline as a guide, and combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Values, SWOTT Analysis, Supply Chain Analysis, and Balanced Scorecard and Communication Plan from prior weeks. Your consolidated final strategic plan should be a minimum of 4,200 words in length.
Format the paper consistent with APA guidelines.
Strategic Planning Final part
The final strategic plan of newly proposed Organic Production Division of Chipotle Mexican Grill incorporates the insights gained from the SWOT analysis of the company, its vision and mission statements as well as its balanced scorecard. These initial steps have facilitated the development of strategic initiatives and tactics that will effectively enhance the performance of the company in the competitive industry. Importantly, it is crucial to have each tactic monitored and controlled as the plan is executed. Therefore, the Organic Production Division needs to not only identify weaknesses in the implementation of the plan but also employ risk mitigation tactics whenever necessary. This paper seeks to present the strategies and tactics that can be employed by the Organic Production Division of Chipotle Mexican Grill to implement and realize its strategic objectives, measures, and targets. The paper will then explore three methods through which the proposed strategic plan can be monitored and controlled besides recommending actions that should be undertaken to address the ethical, legal and regulatory issues facing the company as well as the company’s corporate social responsibility.
Strategies and Tactics
A number of strategies and tactics have been identified by the strategic plan based on the company’s internal and external environmental analysis results. The company operates in a highly competitive industry in which large and small companies fight over market share. The Organic Production Division will increase its market share of its fresh, high quality and ethically produced ingredients and food products in order to become more competitive financially. The increasing awareness on healthy eating will greatly favor the company’s efforts to increase its market share as a healthier food producer. The goal will be achieved by creating brand awareness through effective marketing strategies grounded in the use of information technology such as the use of direct emails, social media, and television advertisements. This tactic is expected to increase the visibility of the company as well as improve public awareness of its brands thereby increasing its market share. Additionally, the company would decrease its production cost by mechanizing most of its operations including, crop cultivation and harvesting. This strategy would enable the company to save costs and time of production. Additionally, the company would need to improve employee retention by reducing turnover of employees. To achieve this goal, the company would develop a more robust employee benefit plan that is focused on improving corporate culture. It is expected that this will decrease the turnover of employees by 10 percent after 4 years.
Monitor and Control the Strategic Plan
Monitoring and controlling the strategic plan can be done using different methods. The first method is measuring the changes experienced by the company due to strategic choices. This method involves evaluating the financial effect of the strategic plan on the company’s cash flow. For instance, if the company chooses to mechanize its operations rather than use human labor, this decision should be accompanied by a reduction in the cost of production. If the reduction in the cost of production is not demonstrated, the company will have to audit the plan to identify the source of this contradiction. Another method is mapping the outcomes of the strategic plan graphically on charts. This method will enable individuals to gain insights into how the strategic plan is performing. For instance, by mapping the strategic outcomes against their costs, this method would enable the company to identify the financial impact of the plan on the overall performance of the organization. Lastly, customer surveys and ratings can also be used to monitor the strategic plan. Through customer surveys and ratings, the company would receive customer feedbacks that would help identify the areas of the plan that require adjustments.
Notably, of all the above-discussed methods, the best possible option is measuring the changes experienced by the company due to strategic choices. This method is the best because it is based on factual data relating to company performance and, therefore, would give the real picture about how the strategic plan impacts the performance of the company financially.
Ethical, legal and regulatory issues
The company will protect its intellectual property including patents and trademarks. The company will adhere to procedures and regulations in preservation and protection of its intellectual property. Also, the company will optimize and preserve development in facilitating protection and enforcement of its intellectual property in its archives. The company will uphold animal ethics and respect for the environment in all its operations besides ensuring that all individuals eligible for hiring present a government-specified documentation of eligibility to ensure compliance with relevant federal and state regulations (Chipotle Mexican Grill Inc n.d.).
The company’s Corporate Social Responsibility
The company has a strong commitment to corporate social responsibility as demonstrated by its mission and vision statements. It is notable that the central dogma of the company is underpinned by the need to produce quality products in a way that demonstrate respect for animals and environment. By focusing on respect for the environment, the company emphasizes good agricultural practices that uphold environmental sustainability. Moreover, the company will organize free workshops and educational programs for the community to create public awareness about healthy eating and its benefits. This will help change the eating habits of the population towards healthier diets.
Possible implications of the triple bottom line
Triple bottom line is an accounting framework that measures business performance in three dimensions including social, environmental and social dimensions. It measures the degree of social responsibility, environmental impact as well as economic value of the company (Orlizky, Siegel, & Waldman 2011). Notably, the triple bottom line would have positive implications for the company by improving its image among consumers and stakeholders as a company that is practicing corporate social responsibility thereby enhancing the company’s reputation and competitiveness, which in turn promotes its economic and financial performance (Orlizky, Siegel, & Waldman 2011).
In conclusion, a number of strategies and tactics have been identified by the strategic plan based on the company’s internal and external environmental analysis results. It is crucial to have each tactic of the strategic plan monitored and controlled as the plan is executed. Notably, monitoring and controlling the strategic plan can be done using different methods. However, the best possible method is measuring the changes experienced by the company due to strategic choices. The company has a strong commitment to corporate social responsibility as demonstrated by its mission and vision statements and adopting the triple bottom line will have positive implications for the company.
Chipotle Mexican Grill Inc. Regulatory and Legal Risks. Chipotle Mexican Grill Inc Filed This Form 10-K on 02/08/2013. Retrieved from ir.chipotle.com/mobile.view?c=194775&v=202&d=3&id…
Orlitzky, M., Siegel, D. S., & Waldman, D. A. (2011). Strategic corporate social responsibility and environmental sustainability. Business & Society, 50(1), 6-27.