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7/14/2014 So You've Got A Plan....What Now? | LinkedIn
https://www.linkedin.com/today/post/article/20140714135708-120693972-so-you-ve-got-a-plan-what-now?trk=nus-cha-roll-art-title 1/7
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What is a dream if you do nothing but
think it? Planning is the first step to
realizing a vision. When planning in an
organization there are three steps:
1. determine an organization’s missions
and goals
2. choose and develop the strategies to
achieve the goals
3. implement the strategies necessary to
fulfill the goals
(Jones & George, 2011).
Planning involves not just thinking of
what an organization wants to attain; it
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7/14/2014 So You've Got A Plan....What Now? | LinkedIn
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has to take additional steps in strategizing to bring them to life.
Levels of Planning
Organizations live in a constant state of change. Whether external forces or internal forces
affect the change, a plan must be considered to turn opportunities into competitive
advantages and to combat predicted threats. Organizations plan for four reasons;
1. it gives the company a sense of direction and purpose
2. it facilitates management’s participation in decision making regarding goals and
strategies
3. it coordinates all managers from different functions to work together and achieve goals
4. it also assists in influencing managers of all levels when they are held accountable to
achieve the organization’s goals (Jones & George, 2011).
There are three levels of planning and strategy in an organization that has a waterfall affect
from top to bottom.
Corporate level planning is facilitated through top management’s decisions on company
mission, goals, strategy and structure. The strategies focus on which industries and markets
to compete in and why.
Business Level planning involve long-term divisional goals, strategies, and structures to
achieve corporate goals and divisional goals. The Business level strategy focuses on the
specific methods the division will utilize to compete against rivals why.
Finally, Functional Level planning involves the goals each function will pursue to attain
business level goals. The Functional level strategy is a plan of action each function can
adhere to in improve its ability to perform tasks to add value to goods and services customers
receive from the organization why.
(Jones & George, 2011).
So, you’ve got a plan and a rough outline. What’s next on your to-do list? Give it a little fuel
with strategy.
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7/14/2014 So You've Got A Plan....What Now? | LinkedIn
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Strategy
When adopting strategies, plans must account for many different changes, threats, and
opportunities in a business. Failure to thoroughly research and consider all options will result
in a failed strategy as no organization is psychic.
Economic impacts, customer preference and trends, and competition in the company’s
industry can impact a company’s goals, strategies, and ability to maintain a competitive
advantage. Scenario planning is a useful tool to forecast various changes and market
conditions and the strategy the company will employ in each scenario why (Jones & George,
2011).
Christopher Tucci 3
Senior Vice President & Legal Practice Gro…
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7/14/2014 So You've Got A Plan....What Now? | LinkedIn
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Once multiple futures are selected, strategies must be chosen to handle each potential future.
During strategy formulation, managers work to develop a set of strategies that will allow the
organization to accomplish its mission and goals why. During this process the group must
analyze internal and external forces that affect the ability of the organization to meet its goals
through performing a S.W.O.T analysis. A SWOT analysis is a review of the company’s
internal strengths and weaknesses and external threats and opportunities why (Jones &
George, 2011).
Example of SWOT:
The five basic forces of threat organizations face:
1. level of rivalry in the industry which could impact pricing or product types
2. the potential for new competitors entering the market causing competition in products
or services offered
3. the power of large suppliers which drives up cost for an organization when few
suppliers offer a needed component of a company’s product
4. the power of large customers which can impact pricing due to controlled demand,
5. the threat of substitute products that can affect pricing of products and services (Jones
& George, 2011).
Strategies for Competitive Advantage
Once threats and opportunities are identified, strategies are developed to either differentiate
an organization’s products to distinguish it from competitors in quality, style, uniqueness and
after sales support, or through a low-cost strategy to seek a competitive advantage over rival
pricing through low cost production resulting in lower prices (Jones & George, 2011).
Organizations can also choose gain a competitive advantage through strategies in
diversification. Related diversification entails a company devising a strategy to enter into a
new industry that its current business is already linked to. Unrelated diversification is when a
company develops a strategy to enter in an industry that is not related to their current
business (Jones & George, 2011).
Once a strategy is chosen based on the company’s plan, goals, strengths, weaknesses,
7/14/2014 So You've Got A Plan....What Now? | LinkedIn
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threats and opportunities, management must allocate responsibilities to carry out strategies to
selected groups, draft detail action plans on how to implement the strategy, establish time
7/14/2014 So You've Got A Plan....What Now? | LinkedIn
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tables for completion of implementation, allocate necessary resources to the groups, and hold
all members accountable for implementation and goal attainment (Jones & George, 2011).
Finally, strategies should be reviewed, threats should be monitored and plans and strategies
should be flexible enough to adapt to the
constant change in a business.
Conclusion
A company’s dream cannot remain only
a thought, or it will disappear like the
company’s profits. Maintaining a
competitive advantage requires
planning, forecasting threats and
opportunities, and developing and
implementing strategies. Strategy
cannot exist without a plan; and a plan is
just a dream if it is never acted upon
through strategy.
References
Picture 1 www.socialribbit.com
Picture 2 www.leadershipalive.com
Picture 3 www.smartdraw.com
Picture 4 www.golime.co
Jones, G., & George, J. (2011). Contemporary Management. New York City: McGraw-Hill
Irwin.
7/14/2014 So You've Got A Plan....What Now? | LinkedIn
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