Part 1
The Intel case involved the transformation of Intel’s chip production for computers by incorporating new market developments such as technology. Previously, Intel Company believed that the best was to conquer the computer manufacturing industry was through more focus on introduction. However, the evaluation of their SWOT analysis enabled the company to realize that the main threat to the company was the changes in the industry, which involved newer companies developing smaller, and faster processing chips. Intel eventually adopted to the new changes in the industry and strived through the support of stakeholders such as its wide customer base
Strategic planning is an essential process in the transformation of a company, which requires effective communication between the stakeholders and the company. Dyer et al. (2016) suggest that the employees are one of the most effective stakeholders in the company. The employees enhance productivity in the company, which is the core process to achieving all other organizational objectives. The loyalty of the employees to the company helps them to focus towards maximum and quality production. Finally, the employees could also help to influence the consumers through a word of mouth advertisement of the company products. However, the employees are also bound to file lawsuits against the company under certain circumstances. The employees also harbor company secrets regarding production and the quality o the products, which may be dangerous if leaked to the competitors (Dyer et al. 2016). Seemingly, the employees also require a certain level of motivation to be involved in the strategic planning process.
The motivation of the employees refers to the factors that capture the interest of the employees to be involved in the strategic planning process. Thomson (2007) suggests that it is vital to allow the employees to express their views about changes being made in the new strategic plan. She highlights listening to the employees and taking their comments seriously is also a good motivation method. Motivation helps to enhance the stakeholders’ integrity and honesty making the strategic planning process relevant.
The strategic planning process involves engaging the employees with the company. Effective communication strategies are required to facilitate proper coordination of the stakeholder group. Some of the communication strategies that could be applied include holding staff meetings with the employees, the use of e – mails, and stand – up presentations (Thomson, 2007). For instance, the management could meet with the employees during the staff meeting to notify them on the basic objectives of the strategic planning process.
Part 2
Part one implies developing the communication plans to be used during the strategic planning process without the knowledge of the stakeholders. However, it would be more effective to provide the stakeholders with insights about the intended communication plans for the stakeholder engagement. Communicating with the stakeholders before formulating the communication strategies help to show the trust vested in the stakeholders. Eventually, it also helps to depict a moral company image regarding the relationship with stakeholders (Frost, 2017). However, I agree with the choice of the employees as the vital stakeholder group for the strategic planning process.
Engaging the employees helps to build an environment of trust within the company. In most cases, more than half of the strategies that are drawn to transform the company are implemented at the company level in production and logistic processes by the employees. Engaging the employees also helps to prepare them to handle the outcomes hat are expected out of these strategies (Green 2011). However, other groups of stakeholders could also be incorporated to support the strategic planning process.
The government and the local communities are two important stakeholders that must be involved in the strategic planning process (Dyer et al. 2016). Incorporating the government helps to stick to the legal conduct and regulations that determine the operation of a business environment. On the other hand, the community helps to provide moral support during the strategic planning process. It helps to ensure that all the strategies formulated promote a favorable environment that affects the other member of the society positively. The incorporation of the government and the community might, however, be virtual for instance through the use the set regulations for guidance without a representative from the department of law.
Part 3
Stakeholder Involvement in Business Strategy Development
Wink electrical is an electronic company that is involved in the innovation of more enhanced version for parts of already existing electrical components. For instance, in case the telephone manufacturing company launches a new model of a phone, the company invents a modified body for the customers of the phones. In most cases, these products are mainly used once some parts on the original electronic device have worn out. However, the company only provides parts for electrical products after seeking copyright approval from the original producing company. In exchange for the approval of the copyright claims, the company carries out advertisements for the electronic device company.
The mission statement of the company states “We aim to provide the best alternative solution to the customers of electronic devices, guaranteed employee retaining, and visible returns on investments.” Our mission statement is meant to provide an overview of what the company intends to do for its consumers, employees, and its shareholders respectively. The structure of the company is the first tool that is used to ensure that all these goals presented in the mission statement are accomplished conveniently without sabotaging the company’s market stability.
Alternatively, the vision statement of the company is to “Be the future of electronic products repair.” In our vision, there is the main reason why the company constantly restructures its business units. The company visions a future where all electronic device companies will give us the rights to produce enhanced spare parts for their products. Our main focus is the production of only physical spare parts to avoid competition with the original companies. Once the company is granted the rights to produce the spare parts, it advertises the original company’s products for free within its customer base.
Currently, the company is preparing to launch a unique cell phone Battery for a particular cell phone. The strategic name for the launch of the specific battery for a phone company called iTel is POWERtel. The theme of this unique battery is an emphasis on the power retention capacity. The battery has been designed to ensure that its cells conduct only the minimum power that is required to keep the cell phone operational. The power conduction system of the battery is built top ensure that only the necessary functionality of the phone is enhanced. For instance, the cell phone using this battery can only operate with an average backlight for the phone.
Marketing is an essential part of the company’s business system. Our marketing policies vary with different products to maintain a balance among all the company’s which we produce the spares for their products. Our marketing slogan for the battery states “Tell the tale with POWERtel.” This slogan gives the customers the impression that you can communicate for a longer time with your iTel as long as you have your POWERtel battery. In the course of our marketing, the company also markets the iTel cell phone. There are some marketing options that the company uses to market its products. The introduction of technology enables the company to broadly use the social media to advertise and carry out promotions for the products. The company has also ventured in print media advertisements by advertising in newspapers and magazines depending on their popularity in the target market.
Changing the organizational structure of the company is a plan that requires the incorporation of various stakeholders. The employees in the company are likely to be the most affected during the implementation of this plan. Currently, some of the employees have already started worrying about their job security. However, an essential reason why the employees must be part of the strategic plan is to reassure them about the mission of the company for the employees. The company’s mission advocates for 100% retention of employees unless in special circumstances that are binding by the law. The company believes that the motivation of the employees and their integrity is the key to open minded invention. The company also believes in the fact that the retention of employees gives them more experience that diversifies their ability to innovate. James Lincoln believed that it is possible to retain employees as long as they are willing to perform (Dyer et al. 2016).During the change in the organizational structure of the company, employees will be reassigned within the organization following free education to enable them to adapt to the new system.
The customers are another stakeholder group that will be involved in the strategic plan. Customers are one of the most crucial groups of shareholders with the biggest influence on the success of the company (Groening, 2008). Changing the business units of the company such as the buildings will affect the accessibility of the customers to the products. Although the adjustments are meant to make accessibility to products more convenient, it is vital for the customers to be informed. Through effective communication, the customers will be informed on the new adjustments. The customers also deserve a proper explanation as to why the company decided to take this crucial step.
During the strategic planning process, it is essential to communicate to all the stakeholders of the company. Communication to the stakeholders helps to gain their trust on the running of the company, it is a show of social responsibility, it advocates for market transparency and also demonstrates professional ethics (McDonald & Hammer, 2010). Here are different ways that will be used to communicate to the stakeholders during the strategic planning process.
Face to face communication is the most effective method of communication that will be used in the process. This method of communication relays the confidence in both the stakeholders and the company. Slides and presentations will also be used as a method of communication. Slides and presentations are effective for their visual effect. During this planning process, it is essential to show the stakeholders the necessary projections made by the company, which are expected to be met as a result of eh new adjustments. The improvement of technology also enables the company to use e – mails as an alternative method of communication. During this crucial period, e – mails will be used mostly for notifications and updates on the progress of the strategic planning process to the stakeholders who will not be participating (Guffey et al. 2009). However, all the stakeholders will benefit in different ways from the new strategies.
The customers will have better access to company products through the changes in the business unit systems. Employees will get the chance to explore new opportunities within the company that could give them a chance to improve their skills and earnings. Similarly, the owners of the company will enjoy the high projected profits after the new changes have been implemented.
Despite the fact that the strategic plan is almost underway for the company, it is also vital to ensure that the whole system accepts the initiatives discussed in the plan. It is the role of the CEO of the company to ensure that all the facets of the company are compatible with the changes before they are implemented. There are various communication channels that the CEO could follow to reach the whole system and inform them about the importance of the new initiatives and the importance of implementing them.
Communication through the departments is one of the most effective channels. The whole system is made up of departments that oversee the functionality of the company in parts. To reach the whole system, it is vital for the CEO to communicate with the managers of all the departments of the company. After that, the manager can relay the information to the rest of the departmental staff. The use of periodic newsletters to all the stakeholders is also another channel that could be used to reach all members of the system. The company issues monthly newsletters to the entire stakeholder including all employees and owners. The newsletters are meant to communicate information to the whole company on important issues such as changes in the running of the company, the overall progress of the company, and the set goals and objectives of the company.
However, the CEO requires some qualities to enable him to convince the stakeholders that the initiatives are what is best for the company. It is vital for the CEO to engage himself with the stakeholders. For instance, he must meet at least the departmental heads in person before disseminating the information in other forms such as the use of pamphlets.
References
Dyer, J. H., Godfrey, P., Jensen, R., & Bryce, D. (2016). Strategic management: Concepts and tools for creating real world strategy. Hoboken, NJ: John Wiley & Sons.
Thompson, W. (2005). Effecting change through active engagement with stakeholders [Books24x7 version]. Retrieved from http://common.books24x7.com/toc.aspx?bookid=38399
McDonald, S & Hammer, A. (2010). Stakeholders. Section 3(i): Information and Communication. Retrieved from http://www.hma.eu/uploads/media/Section_3_i_Stakeholders.pdf
Frost, S. (2017). Importance of a Communication Strategy. New York: Chron
Groening, C.J. (2008). A Marketing Perspective of Stakeholder Influence on Long and Short-term Firm Financial Measures. New York: Proquest
Green, H. (2011). Why Engaging Your Employees Is The Answer To Strategic Planning? Forbes
Guffey, M.E., Rogin, P., & Rhodes, K. (2009). Business Communication: Process and Product. New York: Cengage Learning
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