As part of the MGT 590 Strategic Management course, you are required to develop a comprehensive Strategic Management Change Initiative/Plan. This project will involve identifying a strategic improvement opportunity within a chosen organization, analyzing the current strategic context, and proposing a detailed plan for implementing change. The objective is to demonstrate your ability to apply strategic management theories and frameworks to real-world situations, with a focus on continuous improvement and innovation.
Project Requirements:
Introduction:
Overview of the Organization: Provide a brief introduction to the organization, including its mission, vision, and core competencies.
Rationale for Selection: Explain why this organization was chosen, highlighting any current challenges or opportunities for improvement that make it a suitable subject for a strategic change initiative.
Current Strategic Context:
External and Internal Analysis: Conduct a thorough analysis of the organization’s external environment (using tools such as PEST or Porter’s Five Forces) and internal environment (using tools like SWOT or VRIO). This should include an assessment of key success factors, strengths, weaknesses, opportunities, and threats.
Strategic Positioning: Discuss the organization’s current strategic positioning, including its competitive advantage and differentiation strategy.
Identification of Strategic Improvement Opportunity:
Opportunity Descriiption: Identify a specific area within the organization that requires strategic improvement. This could be related to operations, customer service, product development, market expansion, or another relevant area.
Importance of Improvement: Explain why this area is critical to the organization’s success and how improvements could enhance its strategic position.
Proposed Change Initiative:
Change Initiative Overview: Outline the proposed change initiative, including specific goals and objectives.
Implementation Plan: Develop a detailed implementation plan, covering:
Actions and Steps: Describe the specific actions and steps required to implement the change, including timelines and milestones.
Resource Allocation: Discuss the resources (financial, human, technological) needed to implement the change.
Roles and Responsibilities: Define the roles and responsibilities of key stakeholders involved in the implementation.
Risk Assessment and Mitigation: Identify potential risks associated with the change and propose strategies to mitigate these risks.
Strategic Frameworks and Methodologies:
Application of Frameworks: Apply relevant strategic management frameworks and methodologies, such as Six Sigma, Kaizen, or the Five Ss, to the proposed change initiative. Explain how these frameworks will support the successful implementation and measurement of the initiative.
Expected Outcomes and Measurement:
Outcomes: Define the expected outcomes of the change initiative, including short-term and long-term benefits.
Measurement and Evaluation: Propose a set of key performance indicators (KPIs) and measurement tools to evaluate the success of the initiative.
Conclusion:
Summary: Summarize the key points of the strategic management change initiative, emphasizing the expected impact on the organization’s strategic positioning.
Final Thoughts: Offer any additional insights or recommendations for ensuring the sustainability of the changes.
Format and Submission:
Length: The final report should be approximately 10-15 pages, double-spaced, excluding appendices and references.
Style: Use APA formatting for citations and references. Include charts, graphs, and other visual aids where appropriate.
Submission: Submit the final report electronically via the course management system.
Evaluation Criteria:
Your project will be evaluated based on the following criteria:
Depth of Analysis: Thoroughness and accuracy of the external and internal analysis.
Quality of the Change Initiative: Clarity, feasibility, and innovativeness of the proposed change initiative.
Application of Frameworks: Appropriate and effective use of strategic management frameworks and methodologies.
Implementation Plan: Detailed and realistic implementation plan, including resource allocation and risk management.
Measurement and Evaluation: Clear definition of expected outcomes and effective measurement strategies.
Professionalism and Presentation: Quality of writing, organization, and adherence to formatting guidelines.
This assignment provides an opportunity to apply your strategic management knowledge to a real-world scenario, demonstrating your ability to drive organizational change and improvement.