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DreamsoCTu

Chapter 7
OBJECTIVES, STRATEGY RECOMMENDATIONS AND ACTION PLANS
A)Strategic and Financial Objectives
1st paragraph, definition and principles

Diagram of Overall Road Map on Financial Objective Realization


Operations Objectives
Financial Objectives
Other Strategic Objectives

B) Recommended Business and Organizational Strategies


1st paragraph, definition and principles
Strategy Ranked Number 1:
Diagram of Framework on Implementation for (Strategy Ranked Number 1)
Business Strategies: Table 7.__: Business Strategies of (Name of
Company)
Product and Service
Issues in External Analysis
Evaluation from Matrices
Organizational Strategies: Table 7.__: Organizational Strategies of
(Name of Company)
Organizational Alignment
Issues in Internal Analysis
Strategy Ranked Number 2:
Business Strategies: Table 7.__: Business Strategies of (Name of
Company)
Product and Service
Issues in External Analysis
Evaluation from Matrices
Organizational Strategies: Table 7.__: Organizational Strategies of
(Name of Company)
Organizational Alignment
Issues in Internal Analysis
Strategy Ranked Number 3:
Business Strategies: Table 7.__: Business Strategies of (Name of
Company)
Product and Service
Issues in External Analysis
Evaluation from Matrices
Organizational Strategies: Table 7.__: Organizational Strategies of
(Name of Company)
Organizational Alignment

Issues in Internal Analysis


C)Strategy Map
Figure of Strategy Map
Explanation on Strategy Map
D) Financial Projections and Overall Evaluation of the Strategies
1st paragraph, definition and principles
Table of Financial Projections
Computations of Growth rates
Explanations on Financial Projections
E) Departmental Programs
1st paragraph, definition and principles
Legal Department
Operations/Productions Department
Marketing Department
Human Resource Department
Finance Department

Chapter 8
STRATEGY EVALUATION, MONITORING AND CONTROL
1st paragraph, definition and principles
Balance Scorecard Tables

Detailed Instruction
Chapter 7
OBJECTIVES, STRATEGY RECOMMENDATIONS AND ACTION PLANS
(Introductory Paragraph for Chapter 7. The strama student should write that
this chapter is all about translation of strategic thoughts into strategic
actions.
Legal
Management
graduates
are
expected
to
make
recommendations on how to implement corporate strategies and at the
same time understand the legal implications or legitimacy of all strategic
actions. Sometimes, the top management and executive forgot to consider
the laws and ethics of strategies. In this chapter, first there will be setting of
financial objectives, further discussion of the 3 umbrella strategies, financial
projections and departmental programs. The strama student must emphasize
here that strategy implementation is more important than strategy
formulation. Also In this chapter, issues mentioned in External and Internal
Analysis will be addressed in this Chapter for action.) [ 3 quality sentences]
Strategic and Financial Objectives
(First the simple word Objective must be defined and written here. Based
on page 41 of textbook,Objectives can be defined as specific end results that
an organization seeks to achieve in pursuing its basic mission. The company
must translate the revised vision and mission statements (from chapter 3) to
specific objectives.Thedefinition and principles of Strategic Objectivesmust
be explained here, pertaining to Operations, Marketing and Human Resource
including Management, IT and Research and Development. Also, the
definition and principles of Financial Objectivesmust be explained here,
pertaining to Finance alone. Check pages 163 and 164 of textbook.) [ 3 to 5
quality sentences]

Market Cap:
Map Diagram)
1984(Show
= overall
$2 Road
billion

Overall Road Map for Objective Realization


(The student must explain that through the 3 strategies derived from QSPM,
the company can attain sales revenue of ___ and profit of ____. This diagram
can be enhanced by the student by using other shapes, style and/or
company logo, existing and target revenues and profit figures)

(Finance final status, REVENUE & PROFIT)

al status, REVENUE & PROFIT)

This diagram should be changed by the student


by using other shapes, other colors, style
and/or company logo, existing and target
revenues and profit figures

Strategy 3

Strategy 2

Strategy 1

Financial Objectives
(The student or strategist should create their own financial objectives. It
should state measurable objective. Follow the SMART rule specific,
measurable, achievable, realistic, and time bound. It can be stated in terms
of revenues, net income, profit margin or other appropriate measures of
financial performance. For the sake of uniformity, the strama students must

present the financial objectives as attainment ofsales revenue and net


income for year 2015, 2016, 2017, 2018 and 2019. All companies want to
grow, so the sales revenue and net income for each year must be increasing.
This is the practice of all companies yearly growth. These sales revenue
and net income (as financial performance) become so important that most
companies and its investors and stakeholders rely on this as overall end
measurement of the success of the company. The computations are
explained in D) Financial Projections and Overall Evaluation of the
Strategies)
Year
2015
2016
2017
2018
2019

Sales Revenue

Net income

(Take note: The time frame is five years, considering the nature of the
business and the characteristics of the industry where it belongs.)
Other Strategic Objectives
(Objective here pertains to the strategic thrust of the company. The Strategic
Objectives here must mention atleast two (2) objectives under Operations, 2
under Human Resource and 2 under marketing and 2 under finance. Notice
that Financial objective here must present a secondary measurement only
because the primary financial object pertaining to sales revenue and net
income are presented already in the FINANCIAL OBJECTIVE above in the
table. Check page 246 for example of strategic objectives)
(Write here Minimum of 2 Human Resource related Objective)
(Write here Minimum of 2 Operations related Objective)
(Write here Minimum of 2Other Finance related Objective such as cost
related items)
(Write here Minimum of 2 Marketing related Objective)
(Take note: Strategic objectives should consider the following
-It must support the companys vision/mission in Chapter 3
-It must take into account the expected external/industry prospects as shown
in the external and industrial analysis
-It must take into account the companys historical performance and
current/expected competencies and capabilities.

-It must be consistent with the results of your analytical tools under Chapter
6. For example, an aggressive expansion strategy should show more
aggressive revenue growth while a hold and maintain position should show
more moderate growth for the company.)
Example:

1-To lessen receipt of low quality coffee bean by 30 kg


2-To decrease electricity operational expense in all outlets by 15%
3-To increase employment satisfaction of administrative and support
employees to 4.2 (1 to 5)
4-To decrease absenteeism of baristas by 64 hours
5-To increase market share to 45%.
6-To increase awareness to Starbucks to college students (% awareness)
7-To improve taste acceptability of all coffee beverages (to very acceptable)
8-To increase ROI to 4%
9-To increase salary expense of starbucks managers by 10%

B) Recommended Business and Organizational Strategies


(Write here that the Business and Organizational Strategy should provide a
more specific and comprehensive discussion of your proposed strategy
consistent with the directions/generic strategies indicated by thetop 3
strategies emerging as a result of QSPM in Chapter 6.Remember that
Alternative Strategy is just a generic classification. The chosen 3 alternative
strategies from QSPM will now be called umbrella strategies. The full
discussion of the strategy will be discussed in business strategy and
organizational strategy) [ 3 to 5 quality sentences]
Strategy Ranked Number 1:(Name of the Alternative Strategy or umbrella strategy based
on QSPM results)

Review and write here the definition of this alternative strategy.This is


a top management or broad level of strategy that synchronizes various
business strategies and organizational strategies. The definition of the
alternative strategy here must be presented in such a way that directly
connect to the nature of the business of the company.

Example:
Strategy Ranked Number 1: Market Development
Local brand expansion: Increase Starbucks Coffee Shops

Framework on Implementation of (Strategy Ranked Number 1):(show


framework diagram only for strategy Ranked Number 1)

Example of Framework Diagram (Product Development Strategy wherein process must be improved for
potato chips)

Consult your instructor in Strama on how to illustrate strategy in a diagram.

Business Strategies:
(Here are the instructions on how to discuss the specific business strategies
under Strategy Ranked Number 1. The strama student must address the
question of how to compete now and in the future or how to keep it in a
sustainable manner.
Then fill up the table below)
Table 7.__:Business Strategies of (Name of Company)

SERVICEPRODUCT AND

BUSINESS STRATEGIES
Write and discuss here the direction of the company on how it should
conduct business and what must be done to the products/services,
business or process improvement, of the company (relevant to
strategy ranked number 1).Innovative ideas and solutions must
emerge here.Modernization for the company can be applied
here as well.Business strategies is all about using the companys
resources and competencies (derived from chapter 5) to gain a
competitive advantage over
or
Si n t s u t its
Sm d a t e n u u n rival
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TIONEVALUAINISSUES

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l a

t t l e

Write and discuss here the top three (3) factors in External Factor
Evaluation (EFE) that has high weighted scores. If needed, more than
3 external factors can be chosen from EFE.
Write and emphasize here information derived from the Matrices in
Chapter 6 that supports these business strategies under Strategy
Ranked Number 1.

O
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s.

Organizational Strategies: (Here are the instructions on how to discuss


the specific organizational strategies under Strategy Ranked Number 1;
Check page 250 to 261 of textbook)

INISSUES
IZATIOORGAN

ORGANIZATIONAL STRATEGIES
Identify detailed strategies connected to strategy ranked number 1
that will involve the necessary changes needed in order to align the
organization with the requirements of the business, given the
objectives and strategies of the company.
Identify the strategies that will address the identified internal strategic
issues, address the organizational weakness of the company or take
advantage of its strength.

SW 13 1 . . HE P x i rg c o he d l ub e cr n at tn p ed r mi ce i pq n lu g o i yt y e e r e l a t i o n s h i p

(Remember: Allow free flowing of ideas on how this Strategy Ranked


Number 1 will be implemented. Again, in the above 2 tables, the
strama student may write business and organizational strategy ideas
under Legal, Marketing, Operations, Finance or Human Resource. The
strama students must discuss and describe this business and
organizational strategy thoroughly because this will serve as basis in
writing the Programs and Activities under E. Departmental Programs
and will be classified later under Legal, Marketing, Operations, Finance
or Human Resource.)
Strategy Ranked Number 2:

(Name of the Alternative Strategy or umbrella strategy

based on QSPM results)

Review and write here the definition of this alternative strategy. This is
a top management or broad level of strategy that synchronizes various
business strategies and organizational strategies. The definition of the
alternative strategy here must be presented in such a way that directly
connect to the nature of the business of the company.

Example: Strategy Ranked Number 2: Product Development


The action program will be developing products such as Coffee mix,
beverages and foods/snacks for Starbucks.
Business Strategies:
(Here are the instructions on how to discuss the specific business strategies
under Strategy Ranked Number 2. The strama student must address the
question of how to compete now and in the future or how to keep it in a
sustainable manner.
Then fill up the table below)
Table 7.__:

TIONEVALUAINISSUES
SERVICEPRODUCT AND

BUSINESS STRATEGIES
Write and discuss here the direction of the company on how it should
conduct business and what must be done to the products/services,
business or process improvement, of the company (relevant to
strategy ranked number 2). Innovative ideas and solutions must
emerge here. Modernization for the company can be applied
here as well. Business strategies is all about using the companys
resources and competencies (derived from chapter 5) to gain a
competitive advantage over its rival in the market or industry.
Write and discuss here the top three (3) factors in External Factor
Evaluation (EFE) that has high weighted scores. If needed, more than
3 external factors can be chosen from EFE.
Write and emphasize here information derived from the Matrices in
Chapter 6 that supports these business strategies under Strategy
Ranked Number 2.

Organizational Strategies: (Here are the instructions on how to discuss


the specific organizational strategies under Strategy Ranked Number 2;
Check page 250 to 261 of textbook)
ORGANIZATIONAL STRATEGIES

INISSUES
IZATIOORGAN

Identify detailed strategies connected to strategy ranked number 2


that will involve the necessary changes needed in order to align the
organization with the requirements of the business, given the
objectives and strategies of the company.
Identify the strategies that will address the identified internal strategic
issues, address the organizational weakness of the company or take
advantage of its strength.

(Remember: Allow free flowing of idea on how this Strategy Ranked


Number 2 will be implemented. In the above 2 tables, the strama
student may write business and organizational strategy ideas under
Marketing, Operations, Finance or Human Resource. The strama
students must discuss and describe this business and organizational
strategy thoroughly because this will serve as basis in writing the
Programs and Activities under E. Departmental Programs and will be
classified later under Legal, Marketing, Operations, Finance or Human
Resource.)

Strategy Ranked Number 3:

(Name of the Alternative Strategy or umbrella strategy

based on QSPM results)

Review and write here the definition of this alternative strategy. This is a top
management or broad level of strategy that synchronizes various business
strategies and organizational strategies. The definition of the alternative
strategy here must be presented in such a way that directly connect to the
nature of the business of the company.
Business Strategies:
(Here are the instructions on how to discuss the specific business strategies
under Strategy Ranked Number 3. The strama student must address the
question of how to compete now and in the future or how to keep it in a
sustainable manner.
Then fill up the table below)
Table 7.__:
BUSINESS STRATEGIES

TIONEVALUAINISSUES
SERVICEPRODUCT AND

Write and discuss here the direction of the company on how it should
conduct business and what must be done to the products/services,
business or process improvement, of the company (relevant to
strategy ranked number 3). Innovative ideas and solutions must
emerge here. Modernization for the company can be applied
here as well. Business strategies is all about using the companys
resources and competencies (derived from chapter 5) to gain a
competitive advantage over its rival in the market or industry.
Write and discuss here the top three (3) factors in External Factor
Evaluation (EFE) that has high weighted scores. If needed, more than
3 external factors can be chosen from EFE.
Write and emphasize here information derived from the Matrices in
Chapter 6 that supports these business strategies under Strategy
Ranked Number 3. There must be special emphasis and explanations
on the Strategy Generated [factor source] from SWOT Matrix. The

Organizational Strategies: (Here are the instructions on how to discuss


the specific organizational strategies under Strategy Ranked Number 3;
Check page 250 to 261 of textbook)

INISSUES
IZATIOORGAN

ORGANIZATIONAL STRATEGIES
Identify detailed strategies connected to strategy ranked number 3
that will involve the necessary changes needed in order to align the
organization with the requirements of the business, given the
objectives and strategies of the company.
Identify the strategies that will address the identified internal strategic
issues, address the organizational weakness of the company or take
advantage of its strength.

(Remember: Allow free flowing of idea on how this Strategy Ranked


Number 3 will be implemented. In the above 2 tables, the strama
student may write business and organizational strategy ideas under
Marketing, Operations, Finance or Human Resource. The strama
students must discuss and describe this business and organizational
strategy thoroughly because this will serve as basis in writing the
Programs and Activities under E. Departmental Programs and will be
classified later under Marketing, Operations, Finance or Human
Resource.)

C)

Strategy Map

(Translate the strategy recommendations into a strategy map for the


company; The map must show the interrelationship of the strategies,
objective and the basic elements of the Balance Scorecard namely, Financial
Perspective, Customer Perspective, Internal Business Processes and Learning
and Growth)
Explanations on Strategy Map (3 to 5 quality sentences)

D) Financial Projections and Overall Evaluation of the Strategies


(Definition and principles of Financial Projections and Overall
Evaluation of the Strategiesmust be explained here.) [ 3 quality
sentences min]
Show and discuss the long term financial plan / projections in comparison
with historical performance.
Table 7

Year
Sales
Revenue
Cost of
Goods Sold
Gross
Profit
Selling,
General
and
Administrat
ive
Expenses
Interest
and Other
Income
(Expense)
Income
Before
Tax

2014
(Actual)
(most companies have
readily available 2014
data;)

2015
(Est)

2016
(Est)

2017
(Est)

2018
(Est)

Indicate ratio to sales and annual growth rates. SHOW COMPUTATIONS OF


THE GROWTH RATES IN A SEPARATE TABLE WHEREIN THE FINANCIAL DATA
ARE PRESENTED BASED ON THE FINANCIAL STATEMENTS OBTAINED IN SEC.
Show Computation of Two Growth Rates here based on Sales revenue
Growth Rate 1 (2012, 2013) =

Growth Rate 2 (2013, 2014) =


Average Growth Rate =

State the assumption and explain how the strategies will impact on some of
the components of the financial projections. The financial projections should
incorporate the financial implications of your strategies and should provide
the level of details needed especially on the costs and expenses. Summarize
overall evaluation, and assess the reasonableness, feasibility and
acceptability of your strategies. Make sure your strategies have logic based
on your external and internal analysis and they will enable the company
accomplish its strategic and financial objectives. (3 to 5 quality sentences)

E) Departmental Programs
(Definition and principles of Departmental Programsmust be explained
here. Although the specific details of each of the top 3 priority alternative
strategies are presented already in B. Recommended Business and
Organizational Strategies, this time the strategy implementation will be
presented and reclassified based on Department inE.Departmental
Program.TheStrama student must demonstrate here that he/she really is
prepared in this Strama paper by showcasing his/her conceptual thinking skill
especially in developing strategies that are delegated to various department.
The student must demonstrate what each department should do to attain all
the objectives in A.Strategic and Financial Objectives) [ 3 to 5 quality
sentences]

Legal Department
(Check or gather all the Legal Related Business and Organizational Strategies
under the Strategy Ranked Number 1, 2 and 3. The Legal related objectives
written in A. Strategic and Financial Objectives must be also considered
here in designing Program. Minimum of 3 Legal Related Programs)
Legal Program: (Name of Program)
Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Expected
Output

Persons or Units
Responsible

Expected
Output

Persons or Units
Responsible

Legal Program: (Name of Program)


Activities

Timetabl
e

Legal Program: (Name of Program)


Activities

Timetabl
e

Operations/Productions Department
(Check all the Operations Related Business and Organizational Strategies
under the Strategy Ranked Number 1, 2 and 3.Consider again the operations
related information gathered in external analysis (chapter 4) and internal
analysis (chapter 5).The Operations related objectives written in A.
Operations Objectives must be also considered here in designing Program. It
means, this programs and activities must be towards attainment of
Operations Objectives. Minimum of 3 Operations Related Programs).
Operations Management Program: (Name of Program)

Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Operations Management Program: (Name of Program)


Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Operations Management Program: (Name of Program)


Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Example
Operations Program 1: Project More Coffee for Everyone (Expansion of Stores)
By the end of 2015, starbucks must have 300 stores
Activities

Timetable

Expected Output

Site Analysis and Ocular


Inspection

April 2015

List of Potential
Sites in Province

Sourcing of Contractors

April to May
2015

Identified
contractors

Finalization, visit and


approval of stores sites.
Scheduling Start
construction
Store opening

Operations Program 2: Low Calorie Coffee

Persons or Units
Responsible

Construction
Group colab with
marketing
Purchasing Group

Activities

Timetable

Expected Output

Persons or Units
Responsible

Meeting with Finance and


Operations (R&D group) for
product modifications
Calorie coffee study
Calorie pastry study
Consultation to suppliers of
sweeteners
Testing of sweeteners to
products
Operations Program 3: Supply Chain Remodelling
Activities

Timetable

Expected Output

Persons or Units
Responsible

Bidding to suppliers
Visit to suppliers of
contractors and
construction materials
Visit to suppliers of
contractors and
construction materials
Operations Program 4: Reconfiguration of PERT-CPM software.
Activities

Timetable

Expected Output

Persons or Units
Responsible

Identification of activities
Encoding of deadlines

Marketing Department
(Check or gather all the Marketing Related Business and Organizational
Strategies underthe Strategy Ranked Number 1, 2 and 3. The Marketing
related objectives written in A.Strategic and Financial Objectives must be
also considered here in designing Program. Minimum of 3 Marketing Related
Programs)
Marketing Program: (Name of Program)
Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Marketing Program: (Name of Program)


Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Expected
Output

Persons or Units
Responsible

Marketing Program: (Name of Programs)


Activities

Timetabl
e

Example
Program 1: Competitor Audit
Activities

Timetable

Business Checking ofMcDo


and Dunkin
Scanning of healthy
products offering of
competitor

Expected Output
Status of McDo and
Dunkin
Identified products
with low calorie
modification

Persons or Units
Responsible

Marketing
Research Group

Program 2: Offering of Instant Starbucks Coffee Stick and bottled frappuchino


Activities
Identify convenient stores
Visit the stores
Delivery of products

Timetable

Expected Output

Persons or Units
Responsible

Program 3: Development of posters for the low calorie beverages


Activities

Timetable

Expected Output

Persons or Units
Responsible

Creation of Posters
Printing
Delivery to Stores

Human Resource Department


(Check the Human Resource Related Business and Organizational Strategies
under the Strategy Ranked Number 1, 2 and 3. The Human Resource related
objectives written in A.Strategic and Financial Objectives must be also
considered here in designing Program. Minimum of 3 HR Related Programs)
HR Program: (Name of Program)
Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Expected
Output

Persons or Units
Responsible

Expected
Output

Persons or Units
Responsible

HR Program: (Name of Program)


Activities

Timetabl
e

HR Program: (Name of Program)


Activities

Timetabl
e

Example
HR Program 1: Hiring of experienced architects
Activities

Timetable

Expected Output

Persons or Units
Responsible

Example
HR Program 2: Hiring of Food Technologist specializing in beverages and pastries
Activities

Timetable

Expected Output

Persons or Units
Responsible

Example
HR Program 2: Hiring of Starbucks Managers and Barristas including customer
service training
Activities

Timetable

Expected Output

Persons or Units
Responsible

Advertisement of job posting


Interview
Recruitment
Selection
Hiring
Training of starbucks quality
customer service

Finance Department
(Check the Finance Related Business and Organizational Strategies under
Strategy Ranked Number 1, 2 and 3. The Finance related objectives written
in A.Strategic and Financial Objectives must be also considered here in
designing Program. Minimum of 3 Finance Related Programs)
Financial Management Program: (Name of Program)
Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Financial Management Program: (Name of Program)


Activities

Timetabl
e

Expected
Output

Persons or Units
Responsible

Example
FinanceProgram 1: Budget Allocation for Store Expansion
Activities

Timetable

Expected Output

Collaboration and ocular


inspection of sites together
with operations people

Persons or Units
Responsible

Budget Group and


Operations Group

FinanceProgram 2: Budget Allocation Product Modification


Activities
Meeting with research and
development group

Timetable

Expected Output

Persons or Units
Responsible

Budget Group and


R&D group

Chapter 8
STRATEGY EVALUATION, MONITORING AND CONTROL
(Introductory Paragraph for Chapter 8. The strama student must realize that
the best formulated and best implemented strategies become obsolete as a

firms external and internal environment change. It is essential, therefore,


that strategists systematically review, evaluate and the control the execution
of strategies.) [ 3 to 4 quality sentences]
Balance Scorecard
Prepare an appropriate Balance Scorecard for the company as the strategy
monitoring tools. The 4 perspectives are Financial Performance, Customer
Knowledge, Internal Business Processes, and Learning and Growth. Check
page 326 to 327 of textbook.
Financial Performance
Objectives

Measures

Target

Time
Frame

Unit/Perso
n
Responsib
le

Target

Time
Frame

Unit/Perso
n
Responsib
le

Target

Time
Frame

Unit/Perso
n
Responsib
le

Target

Time
Frame

Unit/Perso
n
Responsib
le

Customer Knowledge
Objectives

Measures

Internal Business Processes


Objectives

Measures

Learning and Growth


Objectives

Measures

Example
Financial Performance
Objectives
Increase market share
Maintain high
profitability

Measures
Growth rate of the
company
and
industry.
ROI, sales/ revenue,
and
net
income
growth

Target

Time Frame

45%

2018

Increase
net
income,
Incremental increase of
12%, 13%, 15% in sales
and
increase
30%
consistent net income
growth for the next 3
years (2014-2016) and
market
share,
and
maintain
market
leadership in the coffee
shop market.

2015,
2017

2016,

Unit/Person
Responsible
Finance group
Finance Group