There are a number of well-known strategic planning models. To bring your team up to speed on the evolution of strategic planning itself, write a white paper that addresses the following specific models of strategic planning:
- Michael Porter’s Five Forces
- Adrian Slywotzky’s Value Migration
- W. Chan Kim and Renee Mauborgne’s Blue Ocean Strategy
Using the Web resources provided and any others that you find, address the following in your white paper:
- Discuss the premise underlying each of the three models of strategic planning and the advantages that each brings to the process.
- Discuss how to apply or implement strategic planning using each of the methods.
- Discuss the pros and cons of each strategic planning method.
Select 1 of the models, and respond to the following questions:
- What methods could be used to ensure continuous process improvement in the organization from a production and operations management perspective?
- From a business finance or accounting perspective, how would you analyze the business and measure the effectiveness of your strategy so that you can make the best decisions for the organization?
- As a leader, how would you help the organizational structure and culture adapt to the changes that would result from this strategy (e.g., how you would empower teams, resolve conflicts, and motivate employees to support the changes from this strategy)?
- From a marketing perspective, what effect will the strategy have on your marketing plan; product differentiation, positioning, life cycle, and portfolio; and Internet or retail marketing to your customers?
- What human resource management changes will be necessary because of the strategy? Address each of the functions of human resources, including staffing, training and development, performance management, compensation, and employee relations.