Strategic plan Essay Example | Topics and Well Written Essays - 250 words

Strategic plan - Essay Example In this case, I will come up with strategies that minimize costs, reduce waste, meet the market demand and enhance customer satisfaction. The other key concept in strategic management is analyzing the formulated strategies. This concept involves strategy formulation, monitoring and implementation (Jeffs, 2008). In this case, the analysis will involve in-depth external and internal analysis of the weaknesses and strengths of a business. Strategy formulation requires taking a specific course of action that helps meet targeted goals. Strategy implementation requires management to put the formulated strategy into practice (Jeffs, 2008). Finally, strategy monitoring involves the evaluation of the implementation process to achieve the desired results (Jeffs, 2008). In future, I will formulate strategies that facilitate growth, sustainability and expansion of my business. These strategies include keeping books of accounts and having a focused management. I will implement my strategies by acquiring assets, operational machinery, and an efficient workforce. Finally, I will monitor the strategies by having a strong internal con trol framework. The internal control framework will include having internal audits and effective risk assessment. I will also ensure that I adapt to the dynamic technological changes for quality services and

Report for hewlett packard (Communication In business 100) Lab

For hewlett packard (Communication In business 100) - Lab Report Example The company is guided by 7 companywide objectives and shared values including commitment to global citizenship (hp, 2010). Been a major player, in the global market, the company is bound by the ten global compact principles and reports its progress on the implementation of the same to the United Nations organization. There is a high likelihood of respecting worker’s working conditions and rights in a company practicing direct dialogue and freedom of association. Direct engagement and open communication with workers in resolving compensation and workplace issues induce a better cohesion amongst workers, working atmosphere, adherence to company’s policies and common sharing of objectives according to csr-supplychain (2010). Hp, being a global company, has to involve a lot of employees ranging from dealers to suppliers, retailers and managerial personnel among other staff in its successful running. For efficient running of the business and the supply chain, the top management of the company must uphold the freedom of association and the effective recognition of the right to collective bargaining in engaging with the employees. HP conducts audits on the major suppliers in the world deemed to be a risk to the efficient running of the business in order to verify their conformance to certain set rules and standards. Hp as a multinational company maintains detailed standards regarding labor management systems, safety and health management systems, ethics, environment and labor standards. The company has given the employees and suppliers freedom of association and right to collective bargaining in undertaking their activities in the distribution chain. During recruitment of the employees, the company management gives the potential employee an option of stating the amount he/she would like to be given as remuneration. If the