Week 7 Assignment
This week discusses the importance of strategic planning for future success. Setting goals and planning for future success is important in organizational growth. You will have the opportunity to discuss company’s that have been successful in this, as well as those that have not.
Consider the number of companies that you may have known growing up that are no longer in business. Seems this is a trending occurrence with household name organizations like Kmart, Toys R Us, and Blockbuster Video. These are companies that were ground breaking in sales at one point and now no longer exist.
Some might say they lacked strategy. Others might claim they couldn’t compete. Regardless of the reason, it’s important that companies today learn from their predecessors’ mistakes and plan strategically in order to stay in the running.
eCommerce and Artificial Intelligence have grown leaps and bounds over the past decade. Marketing and sales techniques have changed and are now more technology driven. Customers shop differently that they did in the past. The way people research is different too. Understanding how this impacts the workplace today along with applying strategies will benefit you long-term.
This week you will have the opportunity to research strategies companies use today while developing your own tactics to develop a plan and a forecast to save a business. I look forward to your work this week.
Please review your materials for this week below.
• Gold, B. (2018). Five Basic Strategies to Manage Business Growth
• Kratsids, M. (2019). Why the US Needs a Strategy for AI
• McCartney, R. and Sullivan, P. (2019). Amazon says it will avoid a housing crunch with HQ2 by planning better than it did in Seattle
• Miserra, K. (2019). Rethinking Your Business Strategy: When and Why
• Scale, D. (2019). Why CEOs Must Own Corporate Brand Values
• Williams, D.K. (2019). Beyond the Concept: The Proven Ways to ‘Fail Fast’ For Business Success
This week discussed the future and the importance of knowing how to forecast and look towards future growth. This can be a challenge for some companies, which often leads to failure. Choose an organization that has failed and closed their doors in the past 5 years and discuss what they could have done to stay in business.
Your work should include the following:
• Discuss the aspects of the organization that lead to failure.
• Develop a strategic plan to use to re-brand the organization and revive it as a new company.
• Your paper must be a minimum of 3 written pages (not including the title and reference pages).
• Your work must include a minimum of 3 scholarly resources to support your thoughts.
• No plagiarism
• APA citing