Final Strategic Plan
Evolution Engines is an American company which is planning to operate its manufacturing options in China. The strategic plan of the organization must aim at acquiring the goals of the organization. This can only be acquired if the employees are aligned with the aims of the vision and mission of the organization. This requires that the process is constantly reviewed and adjusted.
Strategic Planning Process
Implementation of the strategies using the resources of the organization is referred to as the strategic planning objectives (Hitt, Ireland, & Hoskisson, 2012; David, 2013). The implementation of the strategies is very important so that the objectives measures and targets of the organization can be easily achieved. Description of the entire application process of the strategic plan can be seen above. All the information and facts gathered about the organization will be gathered must be used for forming the strategies of the company. Based on the analysis a SWOT model will be formed which will assess the business using the recent trends of the industry. All the strategies formed will be in accordance with the strategic matrix of the company. After the implementation of the strategies the evaluation process will take place. This will cater in developing an understanding of implementation of the strategies.
Strategies And Tactics
The marketing strategy of Evolution Engines would be to use the brand name and make use of the experience and success in different markets. In addition to this, the company will market its success and how the company has been successful over the years and this would build a trust to the consumers in the new market. Successful cases will be presented to the consumers to promote the brand and its performance.
One of the targets of the company is to enhance the customer satisfaction level. This will be achieved as the overall cost of production will be reduced and thus the company will be able to lower the price of the products which will facilitate in increasing the customer satisfaction level. Moreover, as the company will be having more profits, the company will use this investment in research and development which will result in better and improved products and this would further increase the customer satisfaction level. By being innovative in nature, the company will also be able to increase the morale and motivation of employees. The cost of labor is low in China and by manufacturing in China, and even if the company pays slight higher wage rate than the market rate then this will increase the motivation level of employees. Higher motivation level will result in higher productivity and higher operational efficiency.
The objectives already discussed above will be achieved from this strategy of expanding the operations and manufacturing to China.
Monitor And Control
- Taking feedback on a regular basis from the stakeholders will help in monitoring and controlling the strategies.
- The overall targets and objectives can be divided into smaller chunks or segments, and then the situation can be reviewed whether the strategies are going to achieve the objectives and targets or not. If they are going to be achieved, then the same strategies will be continued. But if the strategies are not going in the right direction then these strategies can be revised.
- Impact of these strategies will be reviewed not only financially but the changes in the operations will also be analyzed. The company will be making changes in order to make sure that the change in strategy not only increases the profits, but it also results in improving the quality and improving the customer satisfaction level. Thus, the strategies will be monitored from their impact on financial as well as operations of the company.
Recommendations
For implementing the strategic goals it is important that the organizations understand the significance of ethical issues, legal issues and regulatory issues. Dealing with all these problems will improve the corporate structure of the organization. For effective measures it is essential that Evolution Engines must remove all the ethical barriers which the organization is facing. It must not engage in sort of unethical practice. The legal issues of developing an aviation related business in the China which is a strong contender and it has been struggling over the years to understand the technicalities required for manufacturing the technology is a threat to the country. Training the labor force will be required for solving operations related problems. Regulating the business requires consistent solutions for dealing with the problems.
Implementation of all these practices and applying these actions improves the overall efficiency of the business. The government regulators and the policy makers form the laws and provide the directives so that benchmarks can be set. Thus helps the organization in acquiring the desired goals and objectives. Complying with the regulations ensures that the organization is operating using the fixed norms and standards of the industry.
References
David, F. R. (2013). Strategic Management: Concepts and Cases-14/E. London: Pearson Education
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2012). Strategic Management Cases: Competitiveness and Globalization. London: South-Western Pub.
Thompson, J. L., & Martin, F. (2010). Strategic management: awareness & change. Canada: Cengage Learning EMEA.
