Implementing the strategic plan.
Task 3.1 Case Study
You are implementing the strategic plan.
Assume that the following occurred (contextualise the scenarios based on your strategic plan when required):
At 50% implementation timeline
A A new direct competitor runs a very successful marketing campaign and charges 10% less than your current prices.
This could erode your market share by 5% in the next 12 months.
B Covid 19 happens.
At 75% implementation timeline
C You are finding it difficult to fill critical operational positions in the company. Your pay rate aligns with the market rate, but not many people apply for job vacancies.
D One of the highest risks that you have identified occurs.
Specify the risk from your risk evaluation in your strategic plan:
<Add the risk>
Address the following:
1. Outline what monitoring activities were implemented to identify the issues outlined in the scenarios above.
Additionally, list the performance indicators that helped to identify the issues.
Scenario Monitoring activities
A
B
C
D
2. Address the following:
• Describe how each scenario impacts the realisation of the strategic plan.
• Outline how each scenario is addressed/managed.
Scenario Impact
(30-50 words) How the scenario is managed
(30-50 words)
50% Timeline
A
B
75% Timeline
C
D
3. Determine the changes/refinements that will be made to the strategic plan based on the scenarios.
Changes @ 50% timeline Changes @ 75% timelines
Strategic plan
4. Based on the scenario’s impact on the strategic plan, evaluate the achievements of the strategic plan at the end of implementation (target Vs actual).
Strategic goal Objectives KPIs Target Vs Actual
Example:
Become a market leader in quality international education. Increase yearly enrolment for domestic students in all courses offered by the college. 25% increase in the first years International student market was severely affected by COVID-19 and.
The organisation had to switch to online education and focus on the domestic market.
Did achieve 25% increase in the first year but then only an additional 10% increase in enrolments was achieved within the three years.
The budget was adjusted to allow for the development of online courses.
Enrolment increase is forecasted post-COVID-19.
70% increase within three years
Participate in and be recognised in annual education award events. Apply for three education awards/year
Win one award/year
5. Develop a lessons learned report.
a) Consider the feedback below and the scenarios that occurred.
Feedback:
• Lack of project management knowledge across the organisation.
• Resistance to change from staff as they did not fully understand the reason/need for change.
• Delays in updating appropriate documents to align with changes.
• The marketing department failed to provide updated reports to the Board of Directors by due dates.
• Inconsistent communication approach across the organisation.
• The organisation showed resilience during challenging times.
b) Schedule a time with the trainer and assessor in week 5 of class. Meet with a classmate who will play the role of a pertinent stakeholder in the organisation.
This is a Role-Play
During the meeting (15 minutes):
• Illustrate how you managed the scenarios described in Task 3.1
• Review the target VS actual report
• Gather feedback on the effectiveness of the plan
• Ask for inputs into the lessons learned report (Template1)
The trainer and assessor will validate the meeting in the marking sheet and provide some feedback.
If you are absent from class, it is your responsibility to make alternative arrangements with the trainer and assessor to conduct the feedback session.
c) Develop a lessons learned report (Template 1), informed by your work in Task 3.1.5a and 3.1.5b.
Sample Solution
In order to monitor the issues outlined in the scenarios above, a variety of activities can be implemented. Firstly, for scenario A—the emergence of a successful new competitor charging 10% less than current prices—market research and analysis should conducted periodically to track changes in pricing as well as brand awareness among customers. This would provide insight into how much of an impact the new competitor is having on market share, sales figures and customer loyalty. Additionally, surveys can be sent out to existing customers asking questions regarding their experience with different companies in order to identify potential reasons they may be switching away from your company’s services or products.
For scenario B—Covid 19 happening—it would important to review existing health and safety protocols both within the workplace and any outside activities that involve employees. Any areas identified which need improvement should then addressed accordingly as soon as possible while monitoring any potential outbreaks closely over time once protocols have been adjusted in order ensure that all necessary steps are being taken protect staff members’ well being during this period.
For scenario C—finding it difficult fill critical operational positions despite offering competitive wages —one way address this could be analyzing employee engagement levels those who have recently left the company find what may have caused them decide move on from their role or even investigate why certain people were not selected when applying for job vacancies . This information could provide valuable insight into what particular attributes attractive candidates possess compared those that were not chosen , allowing organization adjust its recruitment process where necessary .
Finally , for scenario D – one highest risks identified occurring – implementing regular risk assessments throughout project implementation timeline can allow organizations detect warning signs associated with each risk before it impacts them negatively . In addition , introducing feedback loops between stakeholders involved project implementation such as managers , team leaders and individual team members allows organization stay up date any changes environment which might affect execution strategy thus providing an opportunity modify tactics if required .
