Throughout this course, you have been using different analysis strategies to determine best practices for developing your business plan. It’s time to develop a strategic plan that will help you determine where your business is now, where you want to take it, and how you will get there. Your strategic plan will help you implement and manage the strategic direction of your company. Additionally, you will communicate the direction of your company to stakeholders.
Develop
a strategic plan for the company you have used throughout this course and
share
it with stakeholders.
Create
a 10- to 15-slide presentation for key stakeholders to solicit their approval of your strategic plan. Address the following in your presentation:
- An introduction with mission and vision statements
- Core values, ethics, and social responsibility principles
- Analysis of the company’s:
- Internal environment (e.g. strengths and weaknesses related to resources, trademarks, patents, copyrights, or current processes)
- External environment (e.g. opportunities and threats related to market trends, economic trends, demographics, or regulations)
- An evaluation of the internal and external environment’s impact on achieving the company strategy
- Create a strategic objective for the company.
- Create short- and long-term goals for achieving the company’s strategic plan.
- Determine methods for collecting data and measuring the success of the strategic plan.
Include
APA-formatted in-text citations and a reference page.
Cite
at least 3 peer-reviewed documents.
Analysis of the Strategic Plan 1 ANALYSIS OF STRATEGIC PLAN Analysis of the Strategic Plan 2 Table of Contents Introduction................................................................................................................................3 Overview of the Strategic Plan..................................................................................................3 Strengths of the Strategic Plan...................................................................................................3 Clear Direction.......................................................................................................................3 Environmental Analysis.........................................................................................................4 People plan and Diversity......................................................................................................4 Social responsibility and Environmental Sustainability........................................................4 Areas of Improvement................................................................................................................5 Clear Direction.......................................................................................................................5 Environmental Analysis.........................................................................................................5 People plan and Diversity......................................................................................................5 Social responsibility and Environmental Sustainability........................................................6 Conclusion..................................................................................................................................6 References..................................................................................................................................7 Analysis of the Strategic Plan 3 Introduction The purpose of this analysis is to evaluate this strategic plan of Johnson and Johnson, a leading company in the healthcare industry. Johnson and Johnson is widely recognized for its diversified portfolio of products in the healthcare industry ranging from pharmaceuticals to medical devices and consumer healthcare. With the history of innovation and a commitment to improving global health, Johnson and Johnson has become a household name. Overview of the Strategic Plan Johnson & Johnson’s strategic plan encompasses the fundamental elements necessary for guiding the organization towards a long-term goal. The plan includes a well-defined mission statement that underscores the company’s dedication to enhancing the health and well-being of the individuals worldwide. Furthermore, it emphasizes the importance of innovation, quality, and value creation for customers. By incorporating these core principles, the plan sets a clear direction for Johnson and Johnson’s strategic initiatives. The strategic plan encompasses specific goals, objectives and action plans and performance measures across each countries business sectors. It provides a road map for growth, addressing key areas such as market expansion, product development and operational excellence. By aligning these objectives with the overall mission and vision of the company, the strategic plan ensures a cohesive and a focused approach to achieving success. Strengths of the Strategic Plan Clear Direction Johnson and Johnson Strategic Plan provides a clear direction for the organization. The plan includes a well-defined vision statement that outlines the companies desired future state and its aspiration to be the most respected and successful healthcare company worldwide. The mission statement emphasizes improving health and well-being of the people Analysis of the Strategic Plan 4 globally, reflecting the company’s core purpose (George et al., 2019). Additionally, the plan outlines specific strategic objectives that align with the mission and the vision, providing a road map for achieving desired outcomes. Environmental Analysis Johnson And Johnson Strategic Plan demonstrates a comprehensive evaluation of the external and internal environments. The plan recognizes the importance of understanding market dynamics, healthcare trends and emerging technologies (Baylis et al., 2022). It includes an analysis of the competitive landscape, industry trends, regulatory factors and other external factors that may impact the company strategy. Moreover, the plan incorporates an assessment of the internal strengths, weaknesses, resources, and capabilities, enabling the organization to leverage its key advantages and address potential challenges. People plan and Diversity Johnson and Johnson places significant emphasis on its people plan and achieving a diverse workforce. The strategic plan acknowledges the importance of attracting, developing, and retaining talent from various backgrounds. The company's commitment to diversity and inclusion is evident through its initiatives to promote gender equality, racial and ethnic diversity, and inclusion of underrepresented groups. The plan outlines these strategies for first studying are inclusive culture, supporting employee development and enhancing diversity at all levels of the organization. These efforts align with the company’s core values and contribute to a long-term success. Social responsibility and Environmental Sustainability Johnson and Johnson strategic plan includes a strong focus on the corporate social responsibility and environmental sustainability. The plan outlines the company's commitment to responsible business practices, ethical conduct, and philanthropy. It highlights initiatives to Analysis of the Strategic Plan 5 address global health challenges, promote access to healthcare and support opportunities for the communities in need. Additionally, the plan incorporates efforts to minimize the company's environmental impact, reduce waste, conserve resources, and promote sustainable product development. These corporate social responsibilities and sustainability initiatives align with companies’ values and contribute to its reputation as a socially responsible healthcare leader. Areas of Improvement Clear Direction While Johnson and Johnson Strategic Plan provides a clear direction, there is a room for improvement in terms of setting more specific and measurable goals and objectives. By defining targets and timelines, the plan can enhance its effectiveness. Environmental Analysis To strengthen the plants environmental analysis, the company can consider conducting a comprehensive evaluation of the external and internal environments (Calabrese et al., 2019). Incorporating and evaluation of the organization’s internal capabilities with research and development capabilities and supply chain resilience would provide a holistic understanding of the environment and enhance the strategic decision making. People plan and Diversity Johnson and Johnson demonstrate A commitment to achieving a diverse workforce. There may be areas for improvement in its approach. One could include more specific strategies and initiatives and attracting, developing, and promoting individuals from diverse backgrounds. This could involve targeted recruitment efforts, mentoring programs, leadership development opportunities on employee resource groups focused on promoting diversity and inclusion. Analysis of the Strategic Plan 6 Social responsibility and Environmental Sustainability Johnson and Johnson acknowledge the importance of corporate social responsibility, and the plan could place a greater emphasis on these areas, which is significantly missing. It could include more specific strategies and measurable targets related to the CSR initiatives, philanthropy, and community engagement. Conclusion Johnson and Johnson Strategic Plan exhibits several strands that contribute to its effectiveness. The plan provides a clear direction for the organization