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Who should be responsible for updating and communicating a strategic plan and why?
We have established our overall strategies for the future. We need to make it official by having the Strategic Plan approved. [ Approval may involve the Board of Directors, Executive Management, and others who need to lend their support to get the Plan implemented. By having key decision-makers approve the Strategic Plan, it signals that it's OK to implement the Plan. Implementation is managed
through the development of an Operating Plan. An Operating Plan is a step by step plan for implementing the Strategic Plan. Operating Plans depend upon good strategic plans. If there are fundamental problems with the Strategic Plan, then successful implementation will be extremely difficult. Additionally, since operating personnel must implement the Strategic Plan, some level of involvement prior to this point should have taken place. ]
Expert answered|hersheys|Points 55|
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Asked 6/18/2013 12:04:02 PM
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Who are the stakeholders at Riordan Manufacturing, Inc.?
Weegy: Riordan Manufacturing appears to have 3 stakeholder categories: upper management: operations, upper management: human resources, and the employees. [ These stakeholders have the opportunity to benefit from a coordinated effort that focuses on long-term solutions consider personnel and business needs. The operational executives consist of the CFO, COO, and Senior Vice President of R&D and the Vice President of Sales & Marketing. Each of these stakeholders has the right to express their opinions and strategic plans for the organization. Since each member of this group specializes in a different portion of the business the company benefits by the group members working together. These members have a high value for the organizations financial capital and do not want to commit resources without extensive research. Members of the operations team also value the human capital of the organization. These managers understand that without talent the organization will not be able to maintain innovation and market competitiveness. ] (More)
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Asked 6/12/2013 11:34:25 AM
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Why does having something to work towards help to motivate the employees and may even gain their committment since they want to see the project through to the end?
Weegy: Businesses should try to keep employee retention rates high, since the loss of workers will cost them money and time to hire and train new ones. [ [ The loss of talented employees can also lead to a decline in a company's productivity, according to the University of Michigan Health System. Business owners can improve the areas of their company that cause workers to quit by determining what motivates employees to stay at their jobs. While a successful career development plan increases a company?s productivity and retains valuable employees, what?s more important is what it does for the individual employee. It is increasingly necessary for workers to build upon their job skills and educational background in order to remain marketable in a constantly-changing, technological world. Take an active role in helping your employees develop their careers to increase job satisfaction and create happy workers who feel they matter to their employers. ] ] (More)
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Asked 6/12/2013 1:54:39 PM
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what is an example of strategic objective?
Weegy: Strategic Objective Examples Tammy Tantalizing Tacos’ top line financial goal is to increase her annual revenue by 10%. How will she achieve her financial goal? To sell more tacos. [ In order to sell more tacos, what must she do from her customers’ perspective? Provide great customer service. And what does she need to do to deliver great customer service? Have efficient processes that deliver food quickly. And how does she excel at quick food delivery? By having well-trained employees. - See more at: ] (More)
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Asked 6/12/2013 6:35:31 PM
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What is an example of strategic objective at bank of America?
Weegy: . Hoshin planning is used as the umbrella to integrate financial, personnel, and risk planning into one strategic plan. This ensures alignment in all the different aspects of the business. [ Using a theme similar to balanced scorecard, Bank of America set its strategic goals and plans in three key stakeholder categories. 1. Customer: provider of choice—The Hoshin plan benchmark goal for customer delight is based on the best-in-class leader, Ritz-Carlton. Customer delight is more than satisfaction; on a ten-point scale, it would be measured by a 9 or 10 rating. The company focuses on delight rather than satisfaction because of the stronger correlation to loyalty and increased business. 2. Associate: employer of choice—The Hoshin plan goal for associate satisfaction is based on best-inclass benchmarking, at the level that the top companies are performing at. 3. Shareholder: investment of choice—The Hoshin plan goal is to be the first in peer group for total shareholder return. Bank of America uses kanri, a Japanese performance management process, to manage and achieve its goals. Six Sigma is part of this execution because it helps the company identify enablers to accomplish goals. In the Kanri performance management process, executives review scorecard performance monthly and/or quarterly as needed. They review and understand root causes of performance gaps and what drives causes and effects; they also prioritize resources for key tactics and enablers. Six Sigma is viewed as a vital tool in achieving process improvements. Said Karuturi, “Without Six Sigma, you may get improvement, but it may not be sustainable. Six Sigma provides the discipline for making it repeatable and getting consistent results year over year.” The company is using Six Sigma to re-engineer the enterprise-wide core processes, close gaps in Hoshin plan performance, and make improvements via belt projects. Benchmarking is another important tool for process improvements. ] (More)
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Asked 6/12/2013 6:16:01 PM
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Identify the stakeholders and their roles needed to achieve their organization goals at Riordan Manufacturing, Inc.?
Weegy: Riordan Manufacturing has developed various processes and procedures to manage the business. The organization maintains a heavy focus on research and development with a strong sales force to help distribute the various products. [ Manufacturing plants are situated in Pontiac, Michigan; Albany, Georgia; and Hangzhou, China with the corporate headquarters in San Jose, California. With rapid growth and expansion Riordan Manufacturing has begun to experience issues that will impact organizational goals and strategic plans. The key issues affecting the organization center on employee motivation, employee compensation, and a deficient career development process. These issues left alone will drive serious problems within the organization; however Riordan Manufacturing can benefit by acknowledging these issues and leveraging the new opportunities to promote the organizations overall strategic objectives. ................ ] (More)
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