BUS 475 week 4 DQs - 14039

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Week three DQ 1

What are strategic objectives? What is the purpose of strategic objectives?
What makes an effective strategic objective? What are examples of strategic
objectives for your organization or one with which you are familiar?

Strategic objectives are statements of vision that are quite broad described as a goal
that represents an inspiring, overarching, and emotionally driven destination. Mission
statements, are more specific and address questions concerning the organization’s
reason for existing and the basis of its intended competitive advantage in the
marketplace. Strategic objectives are used to operationalize the mission statement.
Meaning it helps provide guidance on how the organization can fulfill or move toward
the “high goals” in the goal hierarchy-the mission and vision. As a result, they tend to be
more specific and cover a more well-defined time frame.

Example:

Peking Chinese Restaurant's top line financial goal is to increase annual revenue by
10%. How will the restaurant achieve this financial goal? To provide the best chinese
food in America. In order to be the best, what must they do from the customers’
perspective? Provide great food and customer service. And what does the restaurant
need to do to deliver great customer service? Have efficient processes that deliver
good food and quickly. And how does Peking excel at quick food delivery? By having
well-trained employees.

Week four DQ 2

Why is it important to continuously update the implementation and communication of a
strategic plan? Who should be responsible for updating and communicating a strategic
plan? Why?

It is important to continuously up-date the implementation and communication of a strategic plan
to identify if actions are going according to the plan, and if there are any crucial changes that
need to be made. For instance, if it is a part of a an organizations strategic plan to increase the
workforce from 20, 000 employees to 75,000 in the next several years - in order to implement
this it must be communicated to all other parties, so they can contribute. Also the organizational
needs could change, or the job market could lack many qualified people. This means that
the numbers or the time frame in the strategic plan will have to be altered. In addition, the
HR department needs to be informed on a regular basis about the plan, so that they can keep
their efforts going on the recruitment front. Communication is also important, to make people
understand where they fit in the bigger picture.

It is upper management and strategy managers who must be responsible for updating a strategic
plan. However, the communication must be the responsibility of every manager because this
would ensure that the plan is understood by everyone and what they do does matter. It is very
important that the communication be consistent and continuous and not considered a formality.

No DQs for week five.

 

Solution Description

Week three DQ 1

What are strategic objectives? What is the purpose of strategic objectives?
What makes an effective strategic objective? What are examples of strategic
objectives for your organization or one with which you are familiar?

Strategic objectives are statements of vision that are quite broad described as a goal
that represents an inspiring, overarching, and emotionally driven destination. Mission
statements, are more specific and address questions concerning the organization’s
reason for existing and the basis of its intended competitive advantage in the
marketplace.

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BUS 475 Week 4 DQ's.docx
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