Expert answer:Strategic Plan and Presentation ( 2-page maximum )
Answer & Explanation:Resource: Implementation, Strategic Controls, and Contingency Plans assignment with facilitator feedbackComplete a strategic plan for your organization of no more than 3,500 words.Update your plan to incorporate facilitator feedback from the drafts you submitted in previous weeks. Include the following: Table of contents Executive summary, with a 2-page maximum Company background, organizational mission, vision, and value statements Note. For a start-up, you should focus on the backgrounds and accomplishments of key anticipated management personnel. The goal is to convince the investor that these individuals are trustworthy and successful. Environmental scan Review of Week 4 strategies and a recommendation for the best strategy for your organization Implementation plan including contingency plans for identified risks Prepare a Microsoft® PowerPoint® presentation of no more than 10 slides with speaker notes. Your audience will play the board of directors or a venture capital firm. The focus is to sell your recommendations to the board or venture capital firm and obtain approval for funding your plan.Format your plan and presentation consistent with APA guidelines.Click the Assignment Files tab to submit your assignment.As always must be plagiarism free and at least 4 references implementation.docxstrategic_and_evaluation_.docxexternal_and_internal_enviromental__2.docxdrummond_company.docxstrategic_and_evaluation__3.docx
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Running head: DRUMMOND COMPANY
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Implementation, Strategic Controls, and Contingency Plans for Drummond Company
STR/581
Dec 13, 2015
DRUMMOND COMPANY
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Implementation, Strategic Controls, and Contingency Plans
Formation of cross-functioning teams with an organization is a very important element for
successful organizations. All well-performing organizations share the similarity of how their
employees conduct their activities and the tactics they use to perform them. The most prevalent
tactic applied by most of them is that they have the ability to work as teams by sharing the skills
they have to meet the required standards. In this case, functional tactics are the key, routine
activities that must be undertaken in each functional are marketing, finance,
production/operations, and human resource management to make sure they deliver the required
quality and within the outlined timelines. The managers make sure they are working close with
their employees to make sure they share the skills they have and improve on their routine
efficiency activities.
In most cases, “strategic plans are used to make sure the organization remains on its track
to avoid being pushed out of their core activities which affect the business” (Joyce & Woods,
2001). It’s important to note that, organization mission and vision are attained by ensuring the
strategic plans, and business processes are followed to the latter.
Every organization looks at attaining the largest market share among the competitors. In this
case, they make sure they have clear objectives, which they need to attain within a given period.
These objectives need to be realistic and attainable. In a purely competitive market, quality must
be given the first priority. Customer satisfaction plays a very crucial role, which needs to be
sustained to make sure they can create more business alliances. To sustain these demands from
the market, they need to make sure they change with the changing technology and to faster than
their rivals in the same market.
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The first thing they need to make sure it’s working properly is to understand what the
customers demand and make sure they are in a position of making decisions on how to supply
those products within the shortest time possible. This objective works best under market
analysis. In this case, the factors affecting demand such as taste, quality and preferences need to
thoroughly analyze properly to make sure they have all variable captured.
The promotion strategy used should be able to promote the business operations and to make sure
they use the possible measures to make it attractive as possible. The mode of communication
should be aligned with the gaps in the market to make sure they can understand the customers’
needs and to promote their activities as per the objectives.
Drummond products will be better in the market if they make sure, the thorough conduct
marketing on the website and other possible gaps. The company management will be required to
make sure they have communicated using the best medium in the market, which will get to most
users and target customers.
Time is one of the factors of production, which needs to be given the attention it
deserves. The strategies and tactics that they use need to be given the first priority to make sure
they are successful. Drummond management needs to make sure they are well prepared, and they
are competent of their competitors in terms of the actions they are taking and counter them
immediately (Kazmi, 2008, pg. 256).
Core Minerals are many. Therefore, Drummond management will be required to understand the
nature of the market and look for the possible means through which they can improve the supply
DRUMMOND COMPANY
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of their products in the market. “Merging with other companies could also be a very effective
strategy as they will share the cost of distribution” (Ramaswamy & Namakumari, 2007).
The marketing strategy also used matters a lot. In this case, Drummond will be required to
distribute their products to places where people visit and use the available strategies to make sure
they are known across the target markets. “The method of attracting customers varies from one
area to the other”(Kazmi, 2008, pg. 279).
For Drummond to attain its planned strategies, they will be required to employ several strategies,
which will help, facilitate the implementation of these strategies. Some the techniques they can
use are:
• Team Development: this is one of the techniques, which they can use to attain their strategic
plans. Teams are known for making things work out better as they are in a position of discussing
their progress and to correct each other. Teams coordinate their operations in a manner, which
will influence their popularity. Team leaders will be responsible for giving feedback to the
management hence reduce the contact time.
• Cost Control Technique: operation cost has been known for stagnating most projects. In this
case, the company will have to employ special strategies and techniques, which will reduce the
cost of operation and make it more efficient. The resources will be allocated according to the
operating budget to make sure they reduce the cost associated with the operations. This
technique will help in making sure the costs of operations are reduced.
• Tracking Progress: all functions needs to be looked at carefully by making sure they are tracked
properly to make sure all results are within the required standards. If the operations are managed
DRUMMOND COMPANY
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well, they will make sure they prevent any losses attributed to poor management of resources and
other valuable resources (Lewis, 2006, pg. 16). They should develop a strategy of evaluating
their operations to make sure they are moving in the right manner. This is used as a signal that
shows the direction the company is taking. In this case, Drummond will keep track of their
activities, which will help them to meet the intended results. Through tracking, Drummond
management can make promotions with much ease as they will know their tracks and who
qualifies for which position.
With these techniques, Drummond will be in a position of reaching their growth targets
with the stipulated time and within the budgets. However, the strategies need continuous
evaluation to determine their effectiveness.
At Drummond, there are several ethical and legal issues, which are in place to make sure
the company takes proper care of their activities. These measures are very important to make
sure they are within the law. These laws and ethical standards need to be followed to the latter
and make sure they follow them as its important to make sure they get to the bottom of the
solutions they are looking for and boost their strategic plans and make sure they are fully
sustainable.
For Drummond to meet the corporate development in the society, they need to make sure
they have maintained good ethics and follow them fully to make sure they can get to the intended
level of success. Since they are involved in mining, they need to make sure they protect the
environment and to continuously support the policies that protect it and take part in corporate
social responsibility. These will be aimed at developing the relationship with the community.
DRUMMOND COMPANY
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Vision Statement
• Offering their employees job opportunities to enable them to grow in an equal employment
environment
• Ensuring they promoting educational values for all employees and empowering individuals
with special talents within the company and the community
Mission Statement
• Using only the finest quality of ingredients
• Delivering their product promptly and efficiently to the market with quality customer service
• Providing opportunities to employees that empower and support them
Their vision will show what they want to attain in the future. Since the Drummond wants
to be the leaders in the market, they will use that chance to better the state and make it more
competitive over their rivals within the same market. They can use product differentiation to
attain these results. However, this differentiation can be attained through innovative thinking and
proper planning for their resources (Joyce & Woods, 2001).
To facilitate the operations of the project, their resources need to distribute equitably.
With adequate resource, they will be able to run their operations effectively and reach their
intended mission and vision statements. Organization resources help in the distribution talents
and other
DRUMMOND COMPANY
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Communication plays great roles in the implementation of policies. The strategic plan
needs a good communication plan that will help them to realize the objects at and.
Communication helps in making sure all activities move as they are planned. A good
communication plan helps in making sure they move on a step-by-step plan on how and what
they need to do and realize their strategic plan implementation. Time is a matter that needs to be
given the maximum attention it deserves for them to be realized. With good communication, all
activities get working properly, and they meet the intended results within the outline timeline.
Customers satisfaction: This become one of the most key factor of a business .It is our
passion as staff to ensure we are in position to satisfy our customers’ needs in terms of total
quality of management
We should always retain our corporate leadership this determines how the company is
run since that brings success in so many ways for instance if the leadership is accommodating all
the stuff thus making them work freely and comfortably this will ensure good customer relation
and thus more customers and at the end increased productivity
Marketing is another key factor the way you market your services or products matters a
lot .For good productivity at the end needs proper marketing since a product sells out of its
quality which must be made aware to the consumers in advance
DRUMMOND COMPANY
At break-even point the total revenue equals to total cost if the revenue increases thus the
business is making a profit and if the revenue decreases the business makes a loss
For the sales revenue of 2.4 billion in 2014 shows that if Drummond company in the year
2014 the total cost was less than 2.4 billion thus the budget was less than the sales if the
company had to continue existing without making losses
The forecasted financials are the profits, which will be calculated from the total costs and
total revenues
Strategic plan implementation calls for strategic directions. The alignment of essential
elements helps in implementation of strategic plan. Therefore, its important or the management
to make sure they are in a position of understanding them better and looking forward towards
their realization. With good communication and availability of all the necessary resources, they
will be able to attain the strategic plan implementation and control. These are very crucial steps
in the attainment of the overall goal. Having a good relationship with their employees and
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DRUMMOND COMPANY
effective communication Drummond will be in a position of emerging the best company, and
they will enjoy a huge competitive advantage.
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DRUMMOND COMPANY
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References
A Communication Outline (2011). Retrieved from http://www.ala.org
Doria, M. (2006). Bottled water versus tap water: understanding consumers’ preferences. Journal
of Water and Health, 4(2), 271-276. Retrieved June 22, 2009 from
http://www.iwaponline.com/jwh/004/0271/0040271.pdf
Joyce, P & Woods, A. (2001). Strategic management: a fresh approach to developing skills,
knowledge and creativity. Sterling, VA: Kogan Page Publishers.
Kazmi, A. (2008). Strategic Management and Business Policy (3rd Edition). New Delhi:
McGraw Hill Publishers.
Lancaster, G. & Reynolds, P. (2005). Management of Marketing. Burlington: ButterworthHeinemann.
Lewis, J.P. (2006). Fundamentals of project management (3rd Edition). AMACOM Div
American Mgmt Assn.
(n.d.). Retrieved December 13, 2015, from http://www.forbes.com/companies/drummond/
Pearce, J. and Robinson, R. (2009). Strategic management: Formulation, implementation, and
control (11th ed.). New York: McGraw-Hill.
Ramaswamy, V.S. & Namakumari, S. (2007). Marketing Management (3rd Revised Edition).
New Delhi: Macmillan India Ltd.
DRUMMOND COMPANY
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Wexelbaum, G. (n.d.). Integrated Resource Planning and Strategic Planning For Water Utilities.
Retrieved June 22, 2009 from http://www.ucowr.siu.edu/updates/pdf/V104_A8.pdf
Running head: STRATEGIC CHOICE AND EVALUATION
Drummond Strategic Choice and Evaluation
STR/581
December 6, 2015
1
STRATEGIC CHOICE AND EVALUATION
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Drummond Strategic Choice and Implementation
Drummonds Company is one of the many in America, which boasts of excellent
management. The company uses very progressive strategies to achieve this. Besides this, the
company has excellent values that it follows to the letter. As from the internal environment
analysis, the company has an excellent culture that fosters better understanding and coexistence
of employees. The company’s progress and better performance that keeps it at a better place to
compete with the competitors are both generic and grand strategies. The most accomplished and
best generic strategy is the differentiation strategy and the focus strategy. The best grand strategy
practiced by Drummonds is the product development strategy. The company also focuses on
market growth strategy. Besides the strategies, the company upholds accountability and
responsibilities as her core values. All these are furthered below.
To begin with, the company’s focus strategy gets the company to dwell on the issues that
are of central important to her. This being in the energy production sector, the company is able to
work perfectly in this field. Providing her clients with the needed services at all the times is their
core business and the follow it to the letter. Besides, the company has managed to work with the
customers to ensure that the products that they develop fulfill the needs of the customers. For
instance, in the company’s real estate business, the company focuses on the various customers
who need theirservices.in doing this, the company advocated for better services to all the
customers at all times (Griffin, 2015). For this reason, the customers have better trust in the
company. The focus strategy has enabled the company to develop better systems for serving her
customers. In fact, the company’s increased profitability and growth has been because of their
focus on their production capacity.
STRATEGIC CHOICE AND EVALUATION
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Second is the differentiation strategy. Drummonds has put much focus on differentiating
its products from those of other competitors. The differentiation can be seen in different phases
of their products development. The company has better systems to ensure that there is improved
productivity of differentiated products. One of the most prevalent ways of differentiating the
products is done through innovation and development of products. This ensures that the company
has an upper hand when it comes to competing with other companies. Marketing is also another
way that Drummonds had managed to differentiate its products and services from those of their
competitors, the company spends quite a fortune on advertising their products. Continuous
advertising of products ensures that the company’s products are better appreciated by others. It
also creates a picture in the minds of the customers that the product has superior features as
compared to their competitors. For this reason, the company has managed to dominate the
market share and to continuously increase the number of customers through differentiating their
products.
When it comes to the two grand strategies pointed out above, the company focuses more
on product development. Product development involves continuously adding onto the value of a
product or a service such that it is better from time to time (Ckark, 2015). This is what
Drummonds Company has been doing over the last few years. The company has a very vibrant
research and development team who focus solely on products and service development. The
company uses various sources of information to arrive at decisions on how to improve their
products. These include the new technologies through the technological environment analysis as
well as consulting scholars and their customers for views on how to improve their services.
The second strategy used is the market growth strategy. The company has gradually been
increasing its market share through the market growth strategy. The company focuses on
STRATEGIC CHOICE AND EVALUATION
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developing the needed awareness of their products by the customers wherever they are. This is
done through rampant and rapid advertising. The company, as said afore spends quite some
money on raising awareness through advertising. Through its efforts, the fruits of their
investments are revealed day in day out. With this in mind, the company has achieved more than
just advertising. The market growth strategy has made the company become a favorite among
many. The loyal customers so gained enhance the company’s status through better financing.
Even with these excellent strategies, Drummond would not have been profitable were it
not for her core values that are upheld by the company. This core value is accountability. Every
company dwells on accountability of the employees. Without accountability, the company’s
future may be compromised. It is therefore no wonder that Drummonds Company puts an
emphasis on this core value. It ensures that the company has continued profitability by ensuring
that every resource is spent as it was budgeted for. Reducing the resources wasted through
increased accountability gives the company an upper hand thus being more profitable than her
competitors. In a bid to ensure that this is achieved, the company has training programs aimed at
giving the employees insights into the importance of developing accountability culture
(Drummonds, 2015). Besides, the company conducts periodic audits to ensure that accountability
is upheld by all.
However, the company has these amazing strategies and values. It would be wrong to
assert that it is at its apex and thence there are no opportunities to build on. In line with this, the
company has an area where it can build on. This can be done through vertical integration
strategies and the pricing strategies. Specifically, The Company has an opportunity to use the
pricing strategies to ensure that they compete on an equal ground with the competitors. This
would ensure that their higher quality products are well taken by the target market. Doing this
STRATEGIC CHOICE AND EVALUATION
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should be ensured in that the company makes profits out of favorable costs and at the same time
does not compromise on the quality of the products that they give to their customers.
Secondly, the company should consider vertical integration. This strategy involves
bettering the chain of production through owning up companies that a company is capable of to
reduce competition. In America, there is rife competition in almost all industries. For this reason,
being better in terms of strategy formulation would mean better performance by a company of
poor performance. To anchor against rife competition, the company should invest in acquisitions.
This could bring in new methods of production and problem solving which would work to the
advantage of the company.
In conclusion, Drummonds Company has various strategies that it is anchored on. These
strategies include the market growth strategies, product differentiation strategy and product
development strategies. On this note, the company ensures that the strategies so set out are
followed to the letter. The company also upholds various values. …
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