Using your approved strategic plan from the Wk 2 - Strategic Plan Research assignment, complete the following:
Create a 5- to 7- slide Microsoft® PowerPoint® presentation, with speaker notes and visuals on each slide, that will sell your identified improvements to the strategic plan, based on your Wk 4 analysis.
Include the following:
- Summarize the threats and challenges you have identified within the current strategic plan.
- Determine how to execute the strategic initiatives in order to address the threats and challenges.
- Explain proposed process improvements.
- Assess whether additional resources are needed.
- Describe how resources should be used in the application of the strategic plan.
- Utilize KPIs to justify the financial investment and to measure the success of the proposed improvements to the strategic plan.
- Justify your recommendations based on anticipated Return on Investment (ROI).
6 STRATEGIC PLANNING AND IMPLEMENTATION Company Introduction Ben & Jerry is a subsidiary of the British-Dutch conglomerate Unilever. When Ben Cohen and Jerry Greenfield started the company in 1978, they had a vision. Ice cream, frozen yogurt, sorbet, and ice cream novelty items are the company's specialties (Srinivas, 2021). The company's primary goal is to pay attention to the preferences, lifestyles, and selections of its customers. Every day, the company's development is in sync with how its customers evolve and grow as a result. Strategic Planning -to become a well-known brand in the dairy industry. Tactical Plan -to hire experts such as Food and Diet Specialists, R&D executives, and consultants (Srinivas, 2021). Operational Plans HR & other capacity requirements Staffs and management Vendors and suppliers Consultants Directors · Vision, purpose, and values of the organization · Standards and guidelines for the organization · Orientation · a briefing each morning · a gathering of the whole team · An annual event, an e-newsletter, the internet, and a bulletin board · Orientation · a briefing each morning · a gathering of the whole team · An annual event, an e-newsletter, the internet, and a bulletin board · Internet, Newsletter, and FDG · Orientation · Workshops · a gathering of all interested parties · It's an annual event. · use of the internet and subscription to a newsletter 1. characteristics and advantages of the product 2. Description of the Goods and Services 3. brand-new information 4. the level of service provided to clients 5. Selling Products at Stores 1. SOP a strategy for yearly training 2. Newsletter for training sessions 3. Customized training for employees inside a company 4. SIRS professional modules for the general public 1. OP Annual training plan 2. Training workshop newsletter 3. Customized in-house training 4. SIRS retail professional modules 1. Newsletters 1. Event for the Launch of a New Product 2. Newsletters Financial plan Current funds Amount in the dollar ($) Fixture and fittings 100000 New product launch 500000 Manpower training and development 500000 Research and development 1000000 Outlet rental 100000 Potential funds Amount in the dollar ($) Associate investment 25000 Communication technologies 200000 HR and training center 200000 R&D center and projects 15000000 Intelligence investment 150000 Areas for improvement Clearly states where the organization is going and how it will get there When it comes to dairy products, the company plans to become a top brand by hiring experts including Food and Diet Specialists, R&D executives, and consultants. So that they may utilize their professional experiences, abilities, and knowledge to make their objectives a reality. Evaluates the organization's external and internal environments External Internal To guarantee that goods satisfy health and quality standards, FDA has placed strict labeling regulations on them (Ben & Jerry's). Ben & Jerry's exports from the United States are subject to import taxes, which raise the retail cost of their products and decrease their competitiveness. economic conditions in the company's main markets have a significant impact on Ben & Jerry's success. Even ice cream businesses are affected by the natural environment. Agricultural goods like chocolate, milk and bananas are used to make most ice cream and desserts (Haski-Leventhal, 2021). STRENGTHS- The company's assets include a strong brand image, a significant market share, a worldwide distribution network, and close ties with its suppliers (Andrews, 2018). WEAKNESSES-decreasing profit margins, inability to completely comply with regulatory obligations and large expenditures in corporate social responsibility programs are just a few of the challenges facing businesses today. OPPORTUNITIES- include expected increase in demand for high quality and safe ice cream and dessert products (Percy, 2018). THREATS- rivalry and regulation at an extreme level. In spite of the challenges in the sector, the firm possesses precious, scarce, and imitable resources, thus it can maintain its competitive edge). Includes a people plan and addresses achievement of a diverse workforce There is no doubt that the world is a better place because of the diversity represented by Ben & Jerry's ice cream. They want to grow into a more appropriate and inclusive company so that they may create a culture that makes their diversity their true strength. And they are well on their way, having established an Equity Team to lead the process (Rajendran, 2021). Includes corporate social responsibility and environmental sustainability Ben & Jerry's long-term social responsibility objectives suggest that the business will be used to promote Peace and Justice. One way they may promote economic and social justice via their business operations is by purchasing more Fair Trade ingredients. As well as leading the way in developing Global Sustainable Dairy products, which encourage sustainable dairy farming methods with the world's farmers who provide milk, it also ensures strict control and monitoring of cloned animals (Percy, 2018). Finding a replacement for the plastic still in our ice cream cartons is their top goal for environmental sustainability. Because they want all of our packaging to be free of petroleum-based plastics, they're working hard to achieve that objective. And by 2025, they want everything to be reusable, biodegradable, or recyclable. Even after all these years, the group is still striving to have a positive effect on the environment (Haski-Leventhal, 2021). References Srinivas, S., Rajendran, S., & Ziegler, H. (2021). An Overview of Decisions, Performance, and Analytics in Supply Chain Management. Supply Chain Management in Manufacturing and Service Systems, 1-17. Zapata, M., Percy, S., & Andrews, S. K. (2018). Strategic planning to advance equity on campus: A case study at Portland State University. Metropolitan Universities, 29(1), 28-45. Haski-Leventhal, D. (2021). 14 Strategic CSR A New Definition and New Frontiers. The Routledge Companion to Corporate Social Responsibility, 165. Strategic Planning & Implementation Strategic Planning & Implementation Kristen Keck Purpose of the strategic plan Key objectives: the purpose of the given strategic plan of the company Ben & Jerry is to allow the management achieve decided objectives for the company in long run. The organization wants to make better use of available opportunities in strengthening the brand image, hence, the key objective for the organization to improve the goodwill and profitable position of the company in long run. Market development and how your ideas fit The organization aims to make better use of available skills and capabilities of the employees to improve the product quality. Diary products like ice-cream is a product that is purchased by the customer on the basis of their mood and loyalty for the brand. Therefore, with the help of strengths and opportunities available with the organization, the management aims to improve product quality in such a way that more and more customers start using Ben & Jerry products in the market. Process improvement Process improvement is conducted by improving the skills and capabilities of the employees. The organization is hiring specialists and training others to improve the product quality so that it can reflect on the brand image as well. Development of people Product/service – How do you deliver? The products and services offered by the company would be delivered in the same way it was being delivered before. The company is implementing changes in the internal operations system and it has no impact on the logistics process. Therefore, the products would be offered to the existing set of suppliers same as before and they would continue to sell the products in the market. Furthermore, the organization would also try to reach in new markets for the purpose of development. Is there a way to improve quality over time to differentiate? Yes, the organization can improve the quality of its products but initially hiring skilled individuals who know the minute details about the production process that creates differentiation. Furthermore, quality could be improved by using better raw material in the production process and using hi-tech technology as well. Key performance indicators (KPIs) to measure performance over time · Improvement in Net Customer Satisfaction Score · Revenue per Client · Increment in Profit Margin · Increase in Customer Retention Rate Recommend initiatives to support your objectives to improve the strategic plan It is recommended that the organization should make use of Lewin’s change management program. Since the business is making major improvements in the internal process that is affecting the day to day functioning of employees. Thus, change management plan would eliminate resistance and allow the employees to initiate changes effectively. Also, the top management should disrupt the hierarchical structure and provide opportunities to the employees who hold adequate skills and talent for the job. The organization could provide higher position to new employees as well on the basis of their work done and experience level. Lastly, it is recommended that the organization should closely monitor the operations process, since there have been many changes in the process due to which the manager might see defaults in the products. The supervisor needs to monitor the products based on the standards. Identify ways to adapt to the changing business environment The organization could adapt changes by effectively conducting market research and preparing themselves for the emerging trends. Implementing the Lewin’s change management model would also support the company to adapt to the new environment.