The stakeholders have asked you to wrap your strategic analysis up with a document on the proposed implementation and innovation strategy.
Discuss your company’s implementation and innovation strategy using the following points:
Leadership styles
Conflict management
Devil’s advocacy
Integrative thinking
Salience
Causality
Architecture
Resolution
Final external analysis
Trends and events in the general environment
Scanning and monitoring the competitive environment
Analyzing the impact of the competitive forces in its industry
Final internal analysis
Various components of its value chain
Deploying its resources in a way that contributes to competitive advantages
Anticipated financial performance versus competitors
Alignment of organizational goals
Are its short-term objectives consistent with its long-term mission?
Are views of all stakeholders treated the same, or are some stakeholders more critical than others?
Do the proposed policies align with the potential new crises?
Deliverable Requirements: Your company’s implementation and innovation strategy should be at least 5 pages and utilize resources from Chapters 12 and 13 as one source as well as 4 additional sources, for a total of 5 sources.
After you have completed the Unit 5 implementation and innovation strategy, you must gather all of your Individual Projects from previous units (5 pages per unit = 25 total) for your company’s strategic plan. Use APA formatting and use your textbook as a source as well as 6 other outside sources, for a total of 7.
Mind that you will be sending this document to a potential funding source. Your stakeholders will be paying close attention to the quality and depth of your work.
You completed an analysis of your company in Unit 1. Insert that project into your final report. The following is a refresher of what you completed:
Part 1: Create an Analysis
Your company’s mission and vision
The environmental scan that you created that contains internal (leadership, team performance, organizational performance, collaboration) (potential profits or losses related to these opportunities and threats) and external (industry and competitors) using secondary data.
The most recent annual report of at least 2 competitors and a summary of their operations for use in the environmental scan
Your new company’s forecasted revenue and expenses for the next 3 years
The social complexity of your product
The survey that you created (primary data and secondary data)
You completed the life cycle and diversification proposal for your company in Unit 2. Insert that project into your final report. The following is a refresher of what you completed:
Part 2: Life Cycle and Diversification Proposal and the Functionality of the Company’s Team and Collaboration Capabilities
Using your new company’s product, explain where you envision the new product at each of the following states:
Introduction
Growth
Maturity
Decline
Consider the diversification and the functionality of the new company’s team and collaboration capabilities. Stakeholders need to know you are thinking about the following concerning the future:
Would you consider acquiring a company that is already in the market?
Would it be better for you to merge with a company that has international ties? What would be the benefits of and limitations to doing so?
How will collaboration look like in your new company?
Explain how your company may use teamwork to add value.
Do you expect that the synergy of working together will help the functionality of teams across different departments?
Leadership Styles:
To successfully implement and innovate, our company needs leadership styles that are flexible, adaptive, and inspiring. A combination of directive leadership to set clear goals and delegate tasks, with collaborative leadership to encourage diverse perspectives and foster a sense of ownership, will be crucial. We’ll also need visionary leaders who can paint a compelling picture of the future and ignite enthusiasm for the journey ahead.
Conflict Management:
Implementing change inevitably leads to conflict. We’ll need a robust conflict management system that prioritizes open communication, active listening, and win-win solutions. Fostering a culture of psychological safety where disagreement is valued and respectful debate is encouraged will be essential. Techniques like mediation and negotiation training can equip employees to navigate conflict constructively.
Devil’s Advocacy:
To avoid groupthink and ensure thorough decision-making, we’ll institutionalize devil’s advocacy. This means intentionally assigning individuals or teams the role of challenging assumptions, questioning proposals, and highlighting potential risks. By actively seeking out dissenting voices, we’ll make more informed and resilient decisions.
Integrative Thinking:
Innovation thrives on the synergy of diverse perspectives. We’ll encourage integrative thinking, which transcends silos and disciplines to create holistic solutions. Cross-functional teams with expertise in different areas will be key to developing novel approaches and breaking down traditional barriers.
Salience and Causality:
Successful implementation requires understanding the cause-and-effect relationships within our strategy. We’ll utilize data analytics and scenario planning to assess the salient factors driving desired outcomes. This clarity will ensure our resources and efforts are directed towards the most impactful levers of change.
Architecture and Resolution:
Our implementation plan will have a clear architecture, outlining milestones, timelines, and responsibilities. A robust communication plan will keep stakeholders informed and engaged. We’ll also embrace an iterative approach, allowing for course correction and adaptation based on learnings and emerging challenges.
External and Internal Analysis:
Final External Analysis:
Final Internal Analysis:
Alignment and Stakeholder Priorities:
This comprehensive approach to implementation and innovation will bridge the gap between vision and reality, propelling our company towards a successful and sustainable future.