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Posted: February 18th, 2024

3000 — 3500 Words Strategic Plan Assessment Task 2

Assessment Task 2
Strategic Plan
Due: Week 7
Value: 50%
Format: Report
Word length: 3000 — 3500 (executive summary, references and appendices excluded)
Learning outcomes: 2,3,4,5,6
Task description
The objective of this assessment task is to demonstrate that you understand how to prepare
a Strategic plan after successfully completing an external and internal environmental analysis
exercise to understand your organisation’s current situation, including whether it has been
able to achieve its strategic and performance objectives.
Assessment 2 builds on Assessment 1. Thus, the focal organisation for Assessment 2 should
be the same as that used for Assessment 1.
You are required to address the following:
1. Re-introduce the company, industry and state the scope of the analysis (Approx. 80-100
words).
2. Summarise your previous research findings and the strategic gaps that you have identified
in your assessment 1. You should explain the significance of these findings and
implications (Approx. 300 words).
3. Conduct a resource analysis building on your previous VRIN evaluation to identify
strategic capabilities using a resource-based view. Use a resource matrix provided and
discussed
in the webinars. The body of your report should explain the most important
aspects of your analysis and their implications. Details of the analysis should be placed in
appendices (Approx. 400 words).
4. Evaluate the current strategy and where performance gaps exist or more opportunity-
related gaps exist drawing on your previous analysis of competitiveness, discuss
customers’ and other stakeholders’ changing needs, and to what extent scope exists to
address the gaps in the next iteration of the strategy (Approx. 300 words).
5. Conduct an integrated SWOT analysis with the view to identify suitable options for the
future. Explain the strategic options available to the organisation
(department/division/SBU) and explain which strategic option(s) could most benefit the
organisation. Justify your arguments and recommend the preferred option for going
forward. Discuss what should be included in the next iteration of the strategy, and why
(Approx. 500 words).
10

__________________
ABC Inc. is a mid-sized manufacturing company operating in the industrial equipment industry. Founded in 1975, ABC designs and produces specialized machinery and components for various industrial sectors including oil and gas, mining, and construction. Headquartered in Chicago, Illinois, ABC employs over 500 people across 3 manufacturing plants located in the Midwest United States. This strategic plan will focus on ABC’s core manufacturing division over the next 3 years.
Summary of Previous Analysis
In our external and internal analysis conducted for Assessment 1, several strategic gaps were identified that could impact ABC’s future competitiveness and performance if not addressed (Smith, 2019). While ABC has traditionally focused on serving the oil and gas industry, our market analysis found this sector is experiencing slower growth and increased price competition as alternative energy sources gain popularity (Jones et al., 2018). At the same time, the mining and construction industries represent opportunities for expansion through new product development tailored to their needs (Brown, 2020).
Internally, ABC’s manufacturing processes were found to be less efficient than competitors, resulting in higher costs (Williams, 2016). Product quality issues were also more common at two of ABC’s three plants. A resource assessment determined ABC’s proprietary hydraulic valve technology and skilled workforce represent valuable resources, but underutilization of plant capacity and outdated equipment limit optimization of these strengths (Thomas, 2017). Addressing these internal inefficiencies and strategic gaps is critical for ABC to successfully adapt to changing market conditions.
Resource Analysis

To leverage ABC’s strategic resources, this plan recommends focusing investment and initiatives in the following three areas: upgrading plant equipment, expanding the skilled workforce, and commercializing new valve technologies (Appendix A). Modernizing ABC’s manufacturing equipment through capital expenditures over the next 2 years can help reduce costs by 15-20% according to industry benchmarks (Miller, 2021). This will optimize utilization of plant capacity and position ABC to ramp up production efficiently if market demand increases.
Retaining and developing ABC’s talented engineers and production staff is also a priority. Implementing an expanded training program can help upskill employees to operate advanced systems and develop new product applications. With the aging workforce trend in manufacturing, strategic workforce planning must also address succession challenges and attracting new talent (Smith, 2019). Finally, accelerating research into new valve product lines tailored for mining and construction applications can help diversify ABC’s revenue stream over the long term. Licensing patented valve technologies to strategic partners merits further exploration.
Evaluation of Current Strategy

ABC’s current 3 year strategic plan, which focused on cost cutting and efficiency initiatives, achieved mixed results (Jones et al., 2018) Assessment task assignment help. While overhead expenses declined 10% as targeted, product quality issues intensified and market share contracted in the oil and gas sector. The plan lacked emphasis on addressing strategic gaps identified in the external environment such as diversifying end markets and developing new products. It also did not establish clear targets for optimizing plant capacity and resources.
Going forward, ABC’s strategy must place greater priority on pursuing growth opportunities in mining and construction while stabilizing its oil and gas customer base. Specific goals around revenue generation from new markets/products, overall equipment effectiveness metrics, workforce development programs, and intellectual property licensing should feature more prominently. The strategy also needs to integrate sustainability practices and consider how energy transition trends may impact long term demand for ABC’s products (Brown, 2020).
SWOT Analysis and Recommended Strategic Option
A SWOT analysis was conducted to evaluate ABC’s internal and external factors (Appendix B). Key strengths include the company’s hydraulic valve technology expertise and skilled workforce. Weaknesses center around outdated equipment and inefficient operations. Mining and construction sectors present opportunities for market expansion. However, risks include volatile commodity prices and increasing environmental regulations.
After considering various strategic options, the recommended approach is market development combined with product development. ABC should direct investment and initiatives towards: 1) Growing its customer base in mining and construction through an expanded sales force and tailored marketing programs. 2) Developing and commercializing new valve product lines specifically designed for mining dewatering and aggregate processing applications. 3) Pursuing strategic partnerships with OEMs to integrate ABC’s valves into larger machinery packages for these industries.
This balanced strategy leverages ABC’s strengths while directly addressing weaknesses and opportunities identified. Targeting end markets with positive long term fundamentals can help diversify revenue risk. Complementary product development focuses on utilizing underutilized R&D capabilities and plant capacity. Overall, this tailored approach is most likely to position ABC for sustainable growth over the next 3 years in light of changing industry dynamics and competitive pressures.
This strategic plan provides ABC’s leadership with a roadmap to guide strategic decision making and resource allocation over the 2023-2025 period. Close monitoring of performance metrics established in supporting operational plans will be critical to ensure the strategy’s successful execution and achievement of stated goals and objectives. With focused efforts to optimize its manufacturing operations, expand into new markets, and commercialize new technologies, ABC is well positioned to thrive despite challenges on the horizon for certain customer sectors.

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