Implementing Core Competencies Of The Strategic Planning...

Organizations must develop and execute strategic plans to ensure future company growth and success. Assessing the internal and external aspects affecting a business is a key part of the strategic planning process, as it provides a vector for organizations to maintain a competitive advantage within a marketplace that is continuously evolving. Using quantitative data is considered a best practice to begin an assessment by reviewing recent financial performance and objectively determining the company’s current financial condition (Abraham, 2012). Subsequently, innovative organizations like Tesla Motors must apply methodologies to intimately measure subjective aspects such as a company’s competitive strengths, weaknesses, opportunities, and potential threats. A SWOT analysis is the operational method used to analyze these aspects (Abraham, 2012). The purpose of the following project is to apply core competencies of the strategic planning curriculum to inspire a culture of s trategic innovation within organizational leaders of tomorrow. First, we will take an assessment of Tesla Motors history, the company’s current products, and major competitors affecting the innovative company’s business plan. Then, we can examine the current market situation to determine any potential barriers to organizational success, before applying the principles of a SWOT analysis to determine Tesla’s strengths, weaknesses, opportunities, and threats that may affect the future of the organization.Show MoreRelatedITM 580 Core Comp Essay1307 Words   |  6 Pages Core Competencies and the Planning and Implementing of Information Technology Abstract With any organization, rather it be civilian or military focused, there is a common element that resides; organizational competencies. These competencies is what makes any organization unique and identifies how they do the things they do, how relationships with institution division and external entities are developed and handled. With Information technology shifting from an administrative support tool toRead MoreThe President Of Honeywell Fm T1629 Words   |  7 Pagesjob role? How have they been involved in the strategic planning process at the company? The President of Honeywell FMT was the subject of the interview for the following information. The President of Honeywell FMT is the leader of the organization and currently leads over 3000 employees. Even though, many individuals are involved and provide valuable input for the plan, the president is the final decision maker, when it comes to the strategic planning and ultimately responsible for the path forwardRead MoreFinancing And The Development And Implementation Of Strategies1190 Words   |  5 PagesImplementation of Strategies SUMMARY The role of finance within the strategic planning process has become more relevant than ever. With the introduction of the balanced scorecard the financial performance of a firm has been emphasized has a key indicator of success and links strategic goals to performance and provide timely, useful information in order to facilitate strategic decisions. The article, The Role of Finance in the Strategic-Planning and Decision-Making Process, by Pedro M. Kono and Barry BarnesRead MoreComparison of the Resource-Based vs Market-Based View Approaches to Competitive Strategy1474 Words   |  6 Pagescompetition through ‘astute market positioning’. In other words firms identify the opportunities and threats in their external environment through the use of tools such as the Product Life Cycle, Porter’s 5 Forces Model of industry analysis, Strategic groups, Scenario planning and models namely Porter’s Generic Strategies, Customer Matrix and Mintzberg’s 5Pâ€⠄¢s Model. Upon mapping out the various opportunities and threats from outside and having a good understanding of the behavior and current external situationsRead MoreStrategic Management : Strategic Planning986 Words   |  4 Pagesit comes to strategic management many defined it as the management that link strategic planning decision-making. It is sometimes over looked unless it is specifically brought up when it comes up in strategic planning. With this management in place an organization can achieve its long-term goals. As well as plan out its future goals and endeavors for the organization to be successful. Strategy itself has many forms and levels as well; it is broken down into smaller parts of planning. For strategyRead MoreYahoo and Amazon: Building a Competitive Advantage1643 Words   |  7 PagesRunning Header: Yahoo and Amazon: Building a Competitive Advantage student name professor Bus599 Strategic Management date: 1. Describe, in brief, the histories of both of Amazon.com and Yahoo.com, and determine the core business of each. Yahoo and Amazon have been seeking to have a competitive advantage for years. Since they were incorporated, the companies have experienced a mix of challenges and success as they strive to gain market share. To start with, Yahoo was establishedRead MoreStrategic Management : Strategic Planning1460 Words   |  6 Pagesit comes to strategic management many defined it as the management that link strategic planning decision-making. It is sometimes over looked unless it is specifically brought up when it comes up in strategic planning. With this management in place an organization can achieve its long-term goals. As well as plan out its future goals and endeavors for the organization to be successful. Strategy itself has many forms and levels as well; it is broken down into smaller parts of planning. For strategyRead MoreHnd Business Strategy Task 11407 Words   |  6 Pagesorganisational strategic purpose and different processes of strategic planning, how to formulate a strategy and understand approaches to the evaluation process and the selection and finally how to implement that chosen strategy. CONTENTS Page no. Summary 2 Contents 3 1 Task 1 4 1.1 Mission, Vision, Objectives, Goals and Competencies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4-5 1.2 Key factors when designing strategic plans for SAS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 1.3 Two different planning techniques forRead MoreSwot Analysis Of Boeing1500 Words   |  6 PagesIntroduction The World s largest manufacturers of military and commercial aircrafts Boeing was formed in Seattle, Washington in the year 1916. The leading manufacturer has been involved in many mergers and acquisitions internationally and making strategic alliances with aerospace giants like North American Aviation, Rockwell International, McDonald Douglas (Boeing, 2015). With the presence of diverse, talented and innovative workforce currently, being is operating in more than 80 countries with moreRead MoreStrategic Planning : A Strategic Plan905 Words   |  4 Pagesconsistency of strategic planning, which will improve business efficiencies by undertaking continued systematic evaluations of all processes and overhead costs of the business economic performance. Companies can find the basis of developing a strategic plan by understanding the functionality of the company, the structure of organizational change, the impact of the strengths and weaknesses of the organization, and abiding by the c ompany’s mission. Furthermore, strategic planning is the development