MT460M5-5:Design a plan to implement a business strategy throughout an organization.

Using Analytic Tools for Strategic Decision-Making

Scenario: COMPANY: ARTHUR J. GALLAGHER

You submitted a strategic plan for an innovative new product idea to the C-level executives of your organization. Congratulations! It was approved, and you have been promoted to the chief strategy officer position in your chosen organization. The C-level executive committee was very impressed with your strategic plan. Now it is time to implement your strategy. Develop a strategy implementation plan to share with your management team that will be responsible for executing the strategy for your innovative new product idea in your chosen market. Use the following criteria to develop the strategy implementation plan for your innovative new product idea.

Implementation Strategy

• Explain what must be done to successfully implement the strategy for your innovative new product idea in order to improve the competitive advantages of your chosen organization.
  • NEW PRODUCT IDEA - The product is a comprehensive online platform for insurance brokerage services, which will allow customers to easily compare and purchase insurance policies from multiple providers.
    • Discuss how to manage the value chain of your organization in the implementation of your strategy.
    • Explain the ideal organizational design of your organization to ensure the successful implementation of your strategy.

Strategy Team Structure

• Organize a strategy-supportive management team structure to implement a strategy for a new idea that increases the competitive advantage of your organization.
  • Choose the optimal organizational structure type for the team implementing your strategy.
  • Determine and explain the structure (hierarchical or flat) and why it would produce the best results to implement your strategy.

Strategic Initiative Projects

• Identify and prioritize projects into a balanced scorecard to implement a strategy for a new idea that increases the competitive advantage of an organization.
  • Add a balanced scorecard chart. Use it to identify and prioritize projects per category.
  • Create a list of strategic initiatives and prioritize them as projects for your management team to implement.
  • Develop a timeline depiction indicating project completion milestones.
  • Identify one strategic initiative that is critical to the overall success of your strategy. End explain why it is the most important project to focus attention, efforts, and resources on.
  • Design the project scope form for your chosen strategic initiative to demonstrate project planning to your management team.

Resource Allocation

• Develop a plan to allocate resources based on the priority of projects for a new idea that increases the competitive advantage of your organization.
  • Explain the importance of resource allocation and resource management to the success of your strategy.
  • Explain the process of carrying out a resource audit to your management team and include why it is important.
  • Develop a resource management checklist for your chosen strategic initiative to demonstrate resource allocation to your management team.
  • Explain the role of information systems and technological resources in the execution of your strategic initiative project.
  • Based on the results of your resource planning, develop a budget proposal for your strategic initiative.
  • Concisely explain your budget proposal.

Key Performance Indicators

• Explain the purpose and importance of managing performance and provide details on how it is accomplished to ensure competitive advantage is achieved.
  • Explain the purpose of key performance indicators and how they work.
  • Design the Deciding What to Measure form to identify key performance indicators (outputs, actions, and measurements).
    • Design five key performance indicators to manage the implementation of your strategy.
  • Concisely explain the key performance indicators and how they will collectively ensure competitive advantage is achieved.

Continuous Improvement Process

• Develop a continuous improvement philosophy to ensure the implementation of your strategy increases the competitive advantages of your organization.
  • Create and thoroughly explain the continuous improvement philosophy of your organization.
    • Consider adopting an existing continuous improvement philosophy such as Kaizen, Six Sigma, EFQM, etc. Explain it thoroughly, specifically addressing who, what, why, when, where, and how the continuous improvement philosophy will be employed to ensure competitive advantages are achieved.
  • Explain how problems and challenges will be analyzed and solved.
  • Explain how to create the right environment for continuous improvement within your organization to ensure competitive advantages are achieved.

Culture & Performance

• Explain how the culture of your organization will impact the implementation of the strategy for your innovative new product idea that increases its competitive advantage.
  • Define the purpose of your organizational culture and how it contributes to the successful implementation of your strategy.
  • Explain how each category of the cultural web in your organization will impact the successful implementation of your strategy.
  • Explain how "cultural fit" and "cultural add" will be managed by your team.
    • Explain how conflicts to the organizational culture will be handled.
  • Design an incentive and reward plan to promote effective and efficient strategy implementation.

Conclusion Remarks

• Develop closing remarks to your management team that encourage collaboration and inspire innovation and entrepreneurship in the effort of implementing your strategy for your innovative new product idea that increases the competitive advantage of your organization.