Description
Module 05: Introduction
Attached Files:
Chapter 03.pptx (437.704 KB)
In this module, you will explore the relationship between strategic planning and the components of the organization’s internal and external environments. You will learn that strategic planning involves the organization’s present and future and also that it provides a guide for organizational activities. In order to analyze a strategic plan, you will need to examine the components of the internal and external environments. You will also explore the importance of developing an organization’s mission and vision statements, and then you will learn how both are utilized to develop the strategic plan and goals.
Learning Outcomes
Evaluate the key elements of internal and external environments affecting strategic planning.
Analyze the components of the strategic planning process in the development of the mission, vision, and the strategic plan and goals.
ReadingsRequired:
Chapter 3 in Performance Management: Performance Management and Strategic Planning p. 71-83Emmanuel, N., & Nwuzor, J. (2021). Employee and organizational performance: Employees perception of intrinsic and extrinsic rewards system. Applied Journal of Economics, Management and Social Sciences, 2(1), 26–32.Marquette University. (n.d.). Performance management.
Recommended:Chapter 3 PowerPoint slides from Performance ManagementRise. (2020, January 30). How to implement a new performance management plan.
Module 05: Discussion
For this discussion forum, consider a circumstance where poor employee performance was observed in the workplace (or you are familiar, via research, where this occurred in an organization). An example could be the poor performance of a co-worker, excessive absenteeism in the workplace, or disrespect exhibited between/among employees..
Briefly discuss the situation you experienced above and present 2 strategies a manager should use to address the poor performance of the employee.
Discuss how you would specifically evaluate the success and/or failure of these recommendations. What tools or models to determine the success/failure of these strategies.
Directions:
Discuss the concepts, principles, and theories from your textbook. Cite your textbooks and cite any other sources if appropriate.
Your initial post should address all components of the question with a 500 word limit.
Reply to at least two discussion posts with comments that further and advance the discussion topic.
Unformatted Attachment Preview
1
Chapter 3
Performance Management and Strategic
Planning
Copyright © 2023 Chicago Business Press
3-2
Overview
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■
■
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Definition and Purposes of Strategic Planning
Linking Performance Management to the Strategic
Plan
Strategic Planning Process
• Critical Role of HR in Strategic Planning
• Devising an environmental (i.e., SWOT) analysis
• Produce state-of-the-science mission and vision
statements, objectives, and strategies
• Devise effective job descriptions
Building Support
3-3
Copyright © 2023 Chicago Business Press
Strategic Planning: Definition
■
Process
• Describe the organization’s destination
• Assess barriers
• Select approaches for moving forward
Copyright © 2023 Chicago Business Press
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Strategic Planning: Goal
■
■
Allocate resources to provide the organization
with competitive advantage
Blueprint that defines how the organization will
allocate its resources in pursuit of its most critical
and important objectives
Copyright © 2023 Chicago Business Press
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Strategic Planning: Purposes
Helps define the organization’s identity
Helps organizations prepare for the future
Enhances ability to adapt to environmental changes
Provides focus and allows for better allocation of resources
Provides focus and allows for better allocation of resources
Produces an organization of new options and opportunities
Provides employees with information to direct daily activities
Copyright © 2023 Chicago Business Press
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Aligning Strategic Plan & Performance
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Copyright © 2023 Chicago Business Press
Strategic Planning : Overview
■
Organizational Strategic Plan
• Mission; Vision; Objectives; Strategies
■
Unit Strategic Plan
• Mission; Vision; Objectives; Strategies
■
Job Descriptions
• Tasks; Knowledge; Skills; Abilities
Copyright © 2023 Chicago Business Press
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Strategic Planning Process
■
■
■
■
■
■
■
Critical Role of the HR Function
Environmental (SWOT) Analysis
Mission
Vision
Objectives
Strategies
Job Descriptions
Copyright © 2023 Chicago Business Press
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Strategic Planning Process
Critical Role of the HR Function
■
■
■
Communicate knowledge of strategic plan
Outline knowledge, skills, and abilities (KSAs)
needed for strategy implementation
Propose compensation systems
Copyright © 2023 Chicago Business Press
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Strategic Planning Process
Environmental Analysis
Identifies external and internal trends
■ To understand broad industry issues
■ Used to make decisions using “big picture” context
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Strategic Planning Process
Environmental Analysis Internal Trends
■
■
Strengths:
• Internal characteristics that organization uses
to its advantage
Weaknesses:
• Internal characteristics that can hinder success
of the organization
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Strategic Planning Process
Environmental Analysis External
Trends
■
■
Opportunities:
• Environmental characteristics that can help the
organization succeed
Threats:
• Environmental characteristics that can prevent
the organization from being successful
Copyright © 2023 Chicago Business Press
3-13
Strategic Planning Process
Environmental Analysis
Trends to Consider
External
Internal
Economic
Organization structure
Political/Legal
Organization culture
Social
Politics
Technological
Processes
Competitors
Size
Customers
Blank
Suppliers
Blank
3-14
Copyright © 2023 Chicago Business Press
Strategic Planning Process
Gap Analysis
Analyzes:
External environment
(opportunities and threats)
vis-à-vis
Internal environment
(strengths and weaknesses)
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3-15
Strategic Planning Process
Gap Analysis Determines
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3-16
Strategic Planning for the Organization
Environmental and Gap Analyses provide
information for organizations to decide:
■
Who they are
■
What they do
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Company Spotlight(1 of 2)
SWOT
Strengths
Weakness
• First to market
• Host incentive(hosts can
make money)
• Ease of use (search by
price, location, dates)
• Website design
• Profiles (browse hosts
and review them)
• No daily updates required
for listings
• Lack of brand awareness
in new markets
• Company quality
dependent on hosts and
customer
• Ease of competitor entry
• Legal cost to deal with
zoning laws(e.g.,
prohibiting people from
running a business)
• Insurance costs to protect
hosts and customers
Copyright © 2023 Chicago Business Press
3-18
Company Spotlight(2 of 2)
SWOT
Opportunities
Threats
• Lower prices than hotels
• More connected to city and
its culture
• Easy to become a host and
connect with local residents
• Large market for temporary
housing
• Growing use of online
booking
• Established lodging
providers(e.g., hotels)
• Online rooms(e.g.,
craigslist, couch surfing
com)
• Competitors copying
business model
• Bad press surrounding poor
room, poor customers, or
poor hosts
Copyright © 2023 Chicago Business Press
3-19
Company Spotlight
Gap Analysis
■
■
Provide alternative to hotels by providing
temporary housing that allows hosts to make
money and users to save money and experience
local culture.
Provide easy-to-use web platform that allow hosts
to easily list temporary housing by posting their
listing once, and users to easily search and filter.
Copyright © 2023 Chicago Business Press
3-20
Mission
A good mission statement answers:
✔ Why does the organization exist?
✔ What is the scope of the organization’s activities?
✔ Who are the customers served?
✔ What are the products or services offered?
Copyright © 2023 Chicago Business Press
3-21
Mission Statement Should Contain:
Basic product/service to be offered(does what)
Primary markets or customer groups to be served (to whom)
Unique benefits, feature, and advantages of products/services(with
what benefits)
Technology to be used in production or delivery
Fundamental concern for survival through growth and profitability
Managerial philosophy of the organization
Public image sought by organization
Self-concept of business adopted by employees, shareholders and
other stakeholders
Copyright © 2023 Chicago Business Press
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Vision
■
■
■
Statement of future aspirations
Focuses attention on what is important
Provides context for evaluating
• Opportunities
• Threats
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3-23
A Good Vision Statement: Eight
Characteristics
Brief
Verifiable
Bound by a timeline
Current
Focused
Understandable
Inspiring
A stretch
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Objectives(1 of 2)
■
What organization hopes to achieve in
the medium- to long-range period
• Next three to five years
Copyright © 2023 Chicago Business Press
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Objectives(2 of 2)
■
■
■
■
■
More specific information regarding how mission
will be implemented
Basis for making decisions by keeping outcomes in
mind
Allows for comparison of what needs to be achieved
versus what each unit, group, and individual is
achieving
A source of motivation
Provides employees with a more tangible target for
which to strive
Copyright © 2023 Chicago Business Press
3-26
Strategies
■
■
Descriptions of game plans or how-to procedures
to reach the stated objectives
Address issues of:
• Growth
• Survival
• Turnaround
• Stability
• Innovation
• Talent Acquisition
• Leadership
Copyright © 2023 Chicago Business Press
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Strategic Plans at Unit Level
■
■
Every Unit mission statement, vision statement,
goals, and strategies
Must clearly align with and be congruent with
Organization’s mission statement, vision
statement, goals, and strategies
Copyright © 2023 Chicago Business Press
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Job Descriptions
■
■
Need to be congruent with and support the
organization and unit mission, vision, objectives,
and strategies
Provides information about the various tasks
performed, together with a description of some of
the KSAs required for the position
Copyright © 2023 Chicago Business Press
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Building Support—
Answering “What’s in It for Me?”
■
■
For top management support:
• Emphasize that PM helps carry out an
organization’s vision
For support from all levels:
• Clearly communicate nature and consequences
of PM
• Involve employees in the process of PM design
and implementation
Copyright © 2023 Chicago Business Press
3-30
Individual and Team Performance
■
■
Organization and Unit mission, vision, goals lead
to
Performance management system, which:
• Motivates employees
• Aligns development plans with organization
priorities
Copyright © 2023 Chicago Business Press
3-31
What’s In It for Me (WIIFM)?
■
■
How does answering this question build support
for the performance management system?
What role does context play in crafting the
message about performance management?
Copyright © 2023 Chicago Business Press
3-32
Quick Review
■
■
■
Definition and Purposes of Strategic Planning
Linking Performance Management to the
Strategic Plan
• Critical Role of HR in Strategic Planning
• Devising an environmental (i.e., SWOT)
analysis
• Produce state-of-the-science mission and
vision statements, objectives, and strategies
• Devise effective job descriptions
Building Support
Copyright © 2023 Chicago Business Press
3-33
Copyright
■
■
All rights reserved. No part of this publication may be reproduced,
stored in a retrieval system, or transmitted, in any form or by any
means, electronic, mechanical, photocopying, recording, or
otherwise, without the prior written permission of the publisher.
Printed in the United States of America.
Copyright © 2023 Chicago Business Press
Copyright © 2023 Chicago Business Press
34
7/5/23, 11:31 AM
Operations Management
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Discussion 25
Description
25 points
Rubric Detail
Levels of Achievement
Criteria
Exceeds
Expectations
Meets
Expectation
Some
Expectations
Unsatisfactory
Quantity
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Initial post and
two other posts
of substance.
Initial post and
one other post
of substance.
Initial post only.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Demonstrates
excellent
knowledge of
concepts, skills,
and theories
relevant to the
topic.
Demonstrates
knowledge of
concepts, skills,
and theories.
Demonstrates
satisfactory
knowledge of
concepts, skills,
and theories.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Discussion
post(s) exceed
expectations in
terms of support
provided and
extend the
discussion.
Discussion
post(s) meet
expectations in
terms of
support
provided.
Statements are
satisfactory in
terms of
support
provided.
Did not
participate.
6 to 7 points
4 to 5 points
1 to 2 points
0 to 0 points
Writing is well
organized, clear,
concise, and
focused; no
errors.
Some significant
but not major
errors or
omissions in
writing
organization,
focus, and
clarity.
Numerous
significant
errors or
omissions in
writing
organization,
focus, and
clarity.
Did not
participate.
Content
Support
Writing
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