Project3 Step5 Strategic plan
Strategic Plan
Develop your team’s strategic plan. At the end of the simulation, you will see how well your team did in implementing the chosen strategy.
In parenthesis, you can find instructions and examples. They are only for illustration. Delete them before submitting your team’s Strategic Plan.
Your team’s strategic plan should include the following elements
Team name: _____________________
( e.g., Andrews)
Chosen strategy: _____________________
( e.g., Local Niche Differentiator)
Strategic vision and goal: __________________________________________
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(What does your company want to achieve during 5 years of operations? How do you see your success? e.g., Strategic Vision: Our brand is tested by time and defines the cutting edge. Strategic Goal: Be a leader in providing a premium product for high-tech customers in the USA .)
Strategic objectives: ______________________________________________
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(Set your team’s strategic objectives in terms of products, markets, customers, and financial performance [for example, revenue, contribution margin, profit, market share, market capitalization, return on assets, etc.]. e.g., Strategic Objectives: (1) annually modify current product (Able) to keep up with the high-tech customers’ requirements in the USA. (2) by the end of the 5th year (round 5) achieve 60% of market share in the high-tech segment in the USA…)
Strategic Plan for Departments: _____________________________________
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(Set your strategic plans for each of the functional departments (R&D, Marketing, Production, Finance) for 5 years perspective. e.g., R&D: by the end of round 5 have the best product on the market in terms of speed and accuracy… Marketing: achieve the highest accessibility of product Able in the USA market… Production: gradually increase automation to reduce labor costs… Finance: ensure the sufficient arrangement of finances for the company’s operations during each round… )
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