Peer Review of Strategic and Implementation Plans Essay
Peer Review of Strategic and Implementation Plans
Team members provided feedback on the individual draft papers posted. The assignment was to provide a strategic plan for our chosen organization. The plan needed to include implementation for objectives, functional tactics, action items, milestones and deadlines, tasks and task ownership, and resource allocations. Organizational and management changes, financial forecasts, and risks with contingency plans also needed to be addressed.
One of the draft papers contained excellent breakdowns on the financials for a startup company along with specifics on which participating individuals would be responsible for key action items. The budget and sales forecast were realistic for what would be expected with a new business. The identified risk of low participation volume from clients was identified, but there was no contingency plan for this in terms of additional marketing.
Another team member’s paper was clear in how customer needs could impact the success of the strategic plan. Internal and external factors addressed employee relations and shareholder expectations. The approach the company needs to take with delivering service to customers is identified as factor that needs to change as the plan is implemented. A SWOT analysis would be conducted and contingency plans made on an as-needed basis. The company may want to develop several contingency plans for common issues within its industry to be prepared for these scenarios.
The third draft reviewed focused on short and long-term objectives and the use of a balanced scorecard approach to evaluating and monitoring the plan’s implementation. The critical components for objectives, functional tactics, action items, and resource allocation were identified. Major changes to the organizational structure and management positions were key factors to the company’s plan. Conclusion
Although all team members did not post drafts or offer feedback those that did provided details pertinent to the assignment. Team members identified the items outlined in the assignment and appear to have strong knowledge of what a strategic plan needs to address to be successful in meeting goals.