Implementing Strategy

Scenario:

As the general manager of the Turul Winery, you developed a strategic plan for expansion into domestic and international markets. The owner of the Turul Winery provided feedback on your strategic plan but predominantly agreed with the overall direction you proposed for the business. Now it is time to implement the strategy. Choose either the domestic or international expansion strategy you created, and develop a strategic implementation action plan.

It will require enthusiastic cooperation and a great deal of work from your staff if you implement a successful strategy. This strategic implementation plan will be addressed to the Turul Winery staff. It must be enthusiastic, concise, and straightforward. However, it must be detailed enough to synergize your team. You will present this strategic implementation plan to the staff of the Turul Winery within one week's time. Use the following criteria to develop your strategic implementation plan with an embedded action plan to direct the staff on how to carry out the work necessary to achieve the goals and objectives of the approved strategic plan.

Assignment Requirements:

Strategy Implementation Presentation

• Design a professional title slide.
• Format and build a table of contents.
• Use a consistent and professional presentation design throughout the PowerPoint.

Introduction & Scope of Work

• Describe the characteristics of a successful strategy implementation.
• Explain the format of your strategy implementation action plan.
• Present the chosen expansion idea and the strategic goals and objectives.
• Present the chosen domestic or international market, including the target marketing details.
• Explain the use of incentives and rewards that encourage superior performance in reaching the identified strategic goals and objectives through successful strategic initiatives.

Balanced Scorecard Methodology

• Explain how the balanced scorecard methodology will be used as a tool to implement the strategy.
• Develop a balanced scorecard strategy map to outline specific details about the strategy as it pertains to the topic of each quadrant.
• Provide information in a minimum of three bullet points in each quadrant of the balanced scorecard strategy map.

Strategic Initiatives

• Develop measurable strategic initiatives to work toward the achievement of strategic goals and objectives.
• Write a broad statement of what is to be accomplished in relation to each identified strategic initiative. Be specific.
• Indicate how the accomplishment of each strategic initiative is monitored and measured.

Key Performance Indicators

• Explain how key performance indicators (KPIs) are used as a tool to implement strategy.
• Construct a key performance indicator (KPI) tree to illustrate a path to success for strategic goals and objectives.
• Explain the key performance indicator (KPI) tree is used to measure success completion of strategic goals, objectives, and initiatives.

Systems, Resources, & Accountability

• Determine the systems needed to implement each task in a strategy.
• Determine the allocation of resources (financial, labor, capital assets, time, supplies, etc.) necessary to implement each task in a strategy.
• Determine what employees will be assigned and be held accountable for the execution of each goal, objective, and strategic initiative.

Timeline

• Illustrate a timeline for the completion of each goal (strategic, stretch, & financial), objective, and strategic initiative for the chosen domestic or international strategy implementation.
• The timeline should consist of no more than five phases of action.
• Assign a creative title to each phase of the timeline.
• Concisely explain each phase of the timeline.

Phase One of Action Plan

• Develop actions (work effort) for all employees that are supportive of the organizational structure within phase 1 of the action plan.
• Identify the employees by job title that are accountable for the success of each strategic initiative.
• Explain the process for decision-making and approvals.
• Identify who monitors progress and how progress is monitored.
• Develop a process for making adjustments to continuously improve the strategy's implementation.

Audience, Reasoning, and Research

• The strategy report addresses the staff of the Turul Winery.
• Uses reasoning skills to support your statements, ideas, and decisions.
• Uses a minimum of three peer-reviewed academic research resources to substantiate your thoughts, opinions, and ideas.