Review and define the five (5) steps of strategic planning depicted in Exhibit 2-1 in the textbook on page 34. Based on the information, provide a statement of overall importance of these steps to your project team
ANSWERED!! Review and define the five (5) steps of strategic planning depicted in Exhibit 2-1 in the textbook on page 34. Based on the information, provide a statement of overall importance of these steps to your project team.
Assignment 1: Organizing HR Projects
Your company has had embedded HR generalists in business units for the past several years. Over that time, it has become costlier, and more difficult to maintain standards, and is a frustration for business units to have that budget “hit.”
Delivering hr services
The leadership has decided to move to a more centralized model of delivering HR services and has asked you to evaluate that proposition and begin establishing a project team to initiate the needed changes. The project team is selected and you must now provide general direction.
Write a five to six (5-6) page paper in which you:
- Review and define the five (5) steps of strategic planning depicted in Exhibit 2-1 in the textbook on page 34. Based on the information, provide a statement of overall importance of these steps to your project team.
- Develop a vision and mission statement for the project team specific to the current project. HINT: It is highly recommended to follow the guidance offered in the textbook about vision and mission statement.
- Explain to the project team what a project charter is and why it is used. Then, review Exhibit 3.3 in the textbook and select any 3 charter elements you feel are more important and explain why.
- Provide a “Statement of Emphasis” to your project team based on the information you provided in the previous 3 sections above. The goal is to ensure your team understands the importance of the information.
- Go to https://research.strayer.edu to locate at least three (3) quality academic (peer-reviewed) resources in this assignment.
Your assignment must:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Explain the elements of project management and its relationship to human resource management.
- Assess organizational strategies that contribute to effective project management of human resources.
- Use technology and information resources to research issues in managing human resource projects.
- Write clearly and concisely about managing human resource projects using proper writing mechanics.
Expert Answer and Explanation
For an organization to realize both their short and long-term goals, strategic planning is crucial. Strategic planning is defined as activities in an organization at a management level used to focus energy and resources to specific aspects of the organization. It ensures every stockholder realize and work towards a common goal with common knowledge of intended results.
Thus, it allows for assessment and adjustment to the dynamics in the environment.
In simple terms, strategic planning is defining a blueprint and deciding on the allocation of resources to achieve a specified goal. Plan helps to make clear the goals of an organization and the activities needed to implement the goals. Different schools of thought provide different steps to a proper strategic plan; the following are the steps, according to Timothy Kloppenborg.
Steps of strategic planning
- Strategic analysis
Strategic analysis entails identification and evaluation of relevant data; this includes analyzing both the external and the internal environments to establish its ability to influence performance. This is done by identifying the strengths, weaknesses, opportunities, and threats (SWOT). Analysis of the external environment consists of seeking knowledge of threats and opportunities paused by competitors, suppliers, and other stakeholders beyond the control of the team.
Present competitive position
A critical examination of the environment to determine the position of power is vital in understanding the strongholds of the present competitive position of the organization and ways to maintain or enhance the situation.
2. Guiding principles
These are concepts or ideas that give a framework on a specified way to pursue the strategic plan. This helps the organization to determine where to put more focus to achieve the desired outcome and also to keep the organization on the right track. Guiding principles are mainly embedded in the vision and the mission of an organization.
Vision. It presents a ‘vivid description of a preferred future’ (Kloppenborg, 2014). Vision provides the workers with a clear focus, keeping in mind the pros and cons of an organization. On the other hand, it enhances a value standard of the organization which provides trust among stakeholders. An excellent example of a vision statement for a health institution maybe ‘A Healthy Home is a Wealthy Home.’ This paints a picture of their and others’ expectation of them.
Mission statement. The mission statement is derived from the organization’s vision, and this entails the organization’s core purpose and values. It merely communicates the reason for the existence of the organization. Values represent the way the people in the organization will act how they treat each other and customers. It also involves the organization’s culture and belief, which allows the members to act in a required manner.
3. Strategic objectives
These are small but fundamental and specific plans that sum up to make the organization mission upon implementation. They are measurable, realistic, and particular goals that translate to the purpose of an organization in the long run. Strategic objectives are the building blocks of a strategic plan.
For example, the strategic objective of a website business may be to achieve 100,000 users in 3 months (Steiner, 2010).
4. Flow-down objectives
Continuously improving system
In flow down objectives, involvement of all people is integral because the implementation is a continuous process. It involves the integration of existing ideas with new ones to provide a continuously improving system. For objectives to be practical, they should be clearly defined.
5. Portfolio alignment
This is the process of evaluating a project to identify how it fits the organization, the benefits it brings, and the purpose it plays. A strategy may not be enough if it is not aligned with the organizational objectives. Portfolio alignment improves the rate of success of a project because both the long term and short-term goals are in line with the goals of the organization.
It also helps asses the viability and the quality of a project at the early stages of implementation.
Importance of the steps
They provide an exact formula that if followed, the organizations’ vision is attained. When the steps to follow are clearly outlined is difficult to make mistakes in the implementation stages. And also, because the vision is clear, a person works with the provided variables which make it hard to work outside the scopes like time and cost.
Predictability is essential to the success of a project if a project implementation has a proactive rather than active energy, the motivation is also high. Lastly but not least, strategic planning provides the company with a sense of direction (Kloppenborg, 2014). The steps act as a blueprint through which the whole project will be built, which makes it even easier.
Kenlins is a nursery school, a proper vision for such an organization will be ‘Solid Foundation is Our First Priority.’
Kenlins will provide the early childhood education of children and developmental studies efficiently, embracing the use of technology and cognitive studies to help children learn faster. We also have a perfect learning environment to make it fun for the children
Project charter meaning and its use
A project charter is a document that provides a description of a project providing information on project objective, implementation process, and specify all the stockholders in the project. It is a critical tool in the whole process of the project cycle. The project charter is used to authorize the project manager to commence with the project and provide a go ahead for the project manager to use organizational resources in project activities.
It also helps in the assessment of business value to business executives.
Three important charter elements
Project cycle takes place
Scope. This provides the boundaries within which the project cycle takes place. If the project scope is not clearly defined, then the project manager is bound to have problems with project implementation. For example, if the budget of a project grows beyond the specified cost, this presents future issues in the financial allocation, which may consequently lead to the collapse of a project.
Understanding the risks. Working blindly on a project without knowledge of potential obstacles is a risky affair. It is good to be optimistic about the success of a project due to this reason we have a vision. But it is also healthy to consider failure, so you are prepared in case of a risk. The charter gives you an understanding and the ability to identify risks involved in a project this is so important because it allows the project team to focus on both the positives and negatives
Defining roles and responsibility. Depending on the sophistication of a project, bureaucratic nature of the formal sector and mere human nature, clear definition of functions may be a hard nut to crack. That is where this element of a project charter comes in handy. The project charter provides a clearly defined understanding of who is responsible for what. This enhances accountability as each individual is assigned a specific role with which they are liable if anything goes wrong (Bryson, 2018).
Maybe to stress on the project charter and the vision and mission as explained above, it goes without mentioning that they are the backbone of the whole process and the success or failure of a specified project will highly depend on your understanding of these aspects. For instance, organization vision provides a better understanding of the future environment; this allows members to work with a specific expectation in mind.
It also enhances group work because when you work with a similar sense of dissection, it is more efficient.
A vision improves values that make it easier to regulate behavior and resolve conflicts among members because they are guided by a specific set of organizational norms (Bryson, 2018). Maybe to touch on the project charter, it is the authority and the guideline of the project, and hence, it is so essential to a project.
Small integral parts
After all, the discussed issues above it are hard to dispute the fact that strategic planning is so important to the success of a business. Through strategic planning, the main decisions are made, and a project is segmented into small integral parts that will have been otherwise omitted if another alternative method were applied to this whole process shapes the organization and gives life to the organization.
Bryson, J. M. (2018). Strategic planning for public and nonprofit organizations: A guide to strengthening and sustaining organizational achievement. New York, NY: John Wiley & Sons.
Kloppenborg, T. (2014). Contemporary project management. Great Lakes, Canada: Nelson Education.
Steiner, G. A. (2010). Strategic planning. New York, NY: Simon and Schuster.
Other Solved Questions:
SOLVED! How do you think evidence from nursing journals
What are the five steps in the strategic planning process?/strategic planning steps
The five steps in the strategic planning process are as follows:
- Vision and Mission: The first step in the strategic planning process is to establish a clear and compelling vision and mission for the organization. The vision describes the desired future state of the organization, while the mission defines the organization’s purpose and outlines the activities it will undertake to achieve its vision.
- Situation Analysis: The next step is to conduct a comprehensive analysis of the organization’s internal and external environment. This includes analyzing the organization’s strengths, weaknesses, opportunities, and threats (SWOT analysis), as well as assessing the competitive landscape and market trends.
- Strategy Formulation: Based on the information gathered during the situation analysis, the organization can then formulate its strategy. This involves identifying the key goals and objectives that the organization aims to achieve and developing a set of strategies and tactics to achieve them.
- Implementation: Once the strategy has been formulated, the organization can begin to implement it. This involves developing an action plan, allocating resources, and establishing systems and processes to support the implementation of the strategy.
- Monitoring and Evaluation: The final step in the strategic planning process is to monitor and evaluate the implementation of the strategy. This involves measuring progress against established goals and objectives, identifying any issues or challenges, and making adjustments as necessary to ensure that the organization is on track to achieve its desired outcomes.
What are the 5 steps in the planning process?
The five steps in the planning process are:
- Establishing Objectives: The first step in the planning process is to establish clear and specific objectives that the organization or individual wishes to achieve. Objectives should be SMART – Specific, Measurable, Attainable, Relevant, and Time-bound.
- Developing the Plan: Once the objectives have been established, the next step is to develop a plan of action to achieve those objectives. This involves identifying the resources needed, outlining the activities that will be undertaken, and determining timelines for completion.
- Implementation: The third step in the planning process is to implement the plan. This involves executing the activities outlined in the plan, allocating resources, and monitoring progress to ensure that the plan is being followed and objectives are being achieved.
- Monitoring and Evaluation: As the plan is being implemented, it is important to monitor progress and evaluate the effectiveness of the plan. This involves collecting data on performance and comparing it to the objectives established in the first step. Any necessary adjustments can then be made to ensure that the plan remains on track to achieve its objectives.
- Feedback and Improvement: The final step in the planning process is to use feedback from the monitoring and evaluation process to make improvements to the plan. This can involve making adjustments to the objectives, the plan of action, or the implementation strategy to ensure that the plan is as effective as possible in achieving the desired outcomes.
Types of strategic planning
There are several types of strategic planning, including:
- Corporate-level Strategic Planning: This type of planning involves developing strategies at the highest level of the organization, typically involving long-term planning over a period of several years.
- Business-level Strategic Planning: This type of planning involves developing strategies for individual business units or product lines within the organization.
- Functional-level Strategic Planning: This type of planning involves developing strategies for specific functions within the organization, such as marketing, finance, or human resources.
- Operational Planning: This type of planning involves developing strategies for day-to-day operations within the organization, including production planning, inventory management, and quality control.
- Scenario Planning: This type of planning involves developing multiple scenarios for the future and developing strategies that can be applied to each scenario, depending on how the future unfolds.
- Agile Planning: This type of planning involves developing strategies that are adaptable and flexible to changing market conditions and customer needs. It often involves continuous planning and adjustment based on feedback and data analysis.
- Competitive Planning: This type of planning involves developing strategies that focus on gaining a competitive advantage over other organizations in the industry. This may include strategies for pricing, marketing, product development, and innovation.
Strategic planning process with examples
The strategic planning process typically involves five steps, which are:
- Vision and Mission: Establishing a clear and compelling vision and mission for the organization or individual.
Example: A company’s vision could be to become a leading provider of sustainable energy solutions that reduce carbon emissions and promote environmental sustainability. Its mission could be to design and produce innovative energy solutions that meet the needs of its customers while also supporting the company’s vision.
- Situation Analysis: Conducting a comprehensive analysis of the organization’s internal and external environment.
Example: A situation analysis might involve analyzing the company’s strengths, weaknesses, opportunities, and threats (SWOT analysis), assessing the competitive landscape, and examining market trends and customer needs.
- Strategy Formulation: Developing a set of strategies and tactics to achieve the goals and objectives established in the first two steps.
Example: Based on the situation analysis, a company might develop a strategy to expand its product line to include more sustainable energy solutions, such as solar panels or wind turbines. It might also develop a marketing strategy to promote these products to a wider audience.
- Implementation: Implementing the strategies developed in the previous step, which involves allocating resources and establishing systems and processes to support the implementation of the strategy.
Example: To implement its new product line and marketing strategy, the company might need to invest in new production equipment, hire additional staff, and establish new partnerships with suppliers and distributors.
- Monitoring and Evaluation: Measuring progress against established goals and objectives, identifying any issues or challenges, and making adjustments as necessary to ensure that the organization is on track to achieve its desired outcomes.
Example: The company might monitor sales and customer feedback to assess the effectiveness of its new product line and marketing strategy. Based on this feedback, it might make adjustments to its marketing approach or product offerings to better meet the needs of its customers.
Overall, the strategic planning process is a continuous cycle of analysis, planning, implementation, and evaluation that enables organizations and individuals to achieve their goals and objectives over time.