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For the Strategic Plan assignment, you will work throughout the course to create a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan that seeks to increase your organizations competitive advantage. Complete Part 2 of the Strategic Plan assignment according to the directions in the Part 2: External and Internal Assessment section of the “Strategic Plan” resource.This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.I Have the Part 1 attached along with the rubric so you can do part 2 mgt_660_strategic_plan_part_1__1_.pptx mgt_660_rs_strategicplan.docx rubric_print_format__5_.xlsx Unformatted Attachment Preview Market entry strategic MARKET ENTRY STRATEGIES GRAND CANYON UNIVERSITY MGT 660 JOHNATHAN SMITH D E C E M B E R 1 7 TH 2 0 1 9 Introduction  In more often than not when an association has settled on a choice about entering an abroad market, there are various alternatives which are available to it.  The hazard they for the most part contrast depending with chance, cost just as the level of the board that can be practiced over them.  One of the most basic key choices in overall business is the method of entering the remote market. Focus  Entry into the market Organizational vision, mission, and values Views  Help global associations enter new the markets Goal  Valuable knowledge  Associating with executives  Encouraging prologue to private partners, potential neighborhood accomplices Core beliefs  More prominent its odds of mounting an effective passage How organization values drive the culture  Through the procedure of correspondence  By fortifying the qualities Culture to build  Power culture Competitive advantage  Cost administration  Separation  Core interest Reference  Doherty, A. M. (2007). The internationalization of retailing: Factors influencing the choice of franchising as a market entry strategy. International Journal of Service Industry Management, 18(2), 184-205.  Narasimhan, C., & Zhang, Z. J. (2000). Market entry strategy under firm heterogeneity and asymmetric payoffs. Marketing Science, 19(4), 313-327.  Chung, H. F., & Enderwick, P. (2001). An investigation of market entry strategy selection: Exporting vs foreign direct investment modes—a home-host country scenario. Asia Pacific Journal of Management, 18(4), 443-460.  Omar, M., Williams Jr, R. L., & Lingelbach, D. (2009). Global brand market-entry strategy to manage corporate reputation. Journal of Product & Brand Management, 18(3), 177-187. Strategic Plan Strategic Plan Assignment The ability to think strategically and make choices based on solid analysis and evaluation, in order to capitalize on achieving optimal results when applying limited resources of the firm, are at the core of this strategic initiative plan. Strategic initiatives act as the vehicle to accomplish strategic goals. Strategic initiatives translate vision into reality. The strategic management process enables organizations to achieve objectives through three stages: strategy formulation, strategy implementation, and strategy evaluation. For this assignment, create a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan that seeks to increase your organization’s competitive advantage. Your strategic plan should aim to innovate. Throughout the development of your strategic plan consider your organization’s responsibility in the greater social good from a Christian perspective and how your plan address ethics, cooperate social responsibly and sustainability. Globalization brings both benefits and challenges in the business sphere. Be sure to consider how globalization impacts your strategic plan and address any international considerations if needed. Your strategic plan will be completed throughout the course in Topic 1, Topic 3, Topic 4, Topic 5, Topic 6, Topic 7, and Topic 8. Be sure to address instructor feedback when possible. Part 1: Overview (Topic 1) Imagine you need to present your initial pitch for your Strategic Initiative Plan. Create a 5-8 slide PowerPoint presentation with speaker notes that seeks to get permission from key stakeholders. In your presentation, address the following: 1. Identify the type (market entry, market expansion, merger, and acquisition) of Strategic Plan that you will be creating. 2. Provide the vision, mission, and values of the organization. 3. How do organization values drive the culture? 4. What is the culture you intend to build, or exists, today? 5. What is your competitive advantage? Provide three to five sources in your presentation. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. © 2016. Grand Canyon University. All Rights Reserved. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. Part 2: External and Internal Assessment (Topic 3) An environmental scan seeks to ensure your original pitch is viable (Part 1: Overview). External and internal assessment tools are utilized your to ensure strategic initiative is viable. You may find after completing your environmental scan your strategic initiative idea will change. The environmental scan helps you develop Key Performance Indicators (KPIs), which will help focus the application of limited resources to produce above-average returns. During your scan, address the following: Internal: Identify your strategic initiative using various internal assessment tools to evaluate your organization’s strengths and weaknesses in functional areas of business which include • • • • • • • Management Marketing Finance Accounting Productions/operations Research and development Management information systems External: Identify your strategic initiative using various external assessment tools to evaluate outside trends and events outside the control of the organization, and the industry. Create a 5-10 slide PowerPoint presentation that shows the results of your environmental scan. Include the following: • • • Identify what you found in your environmental scan. o What did you learn about the industry? o What did you learn about your organization? Include the external and internal assessment tools you used at the end of your presentation as an appendix. o How did you apply the results of your internal and external assessment tools in your decision making process. Describe what you learned during the process including key issues that will be reviewed going forward. o How does this challenge or support your original vision/concept? o What is emerging from your learning? 2 • Outline the preliminary strategic initiative plan. o How have you considered the selected organizations culture within the context of implementing your strategic initiative plan? Provide three to five sources in your presentation. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. Part 3: Organizational Chart and Operations Chart (Topic 4) Organizational structure is a factor in implementing your plan. Using a graphic organizer, create an organization chart. Be sure the graphic organizer describes the relationships between people. Completing the “Operations Chart,” begins to provide a plan of how strategic initiative is executed. Be sure the “Operations Chart” is in the context of the Organization Chart. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are not required to submit this assignment to LopesWrite. Part 4: Marketing (Topic 5) Consider if your strategic plan is a market entry plan (entrepreneurial), a market expansion plan for an existing organization, or a mergers and acquisitions plan. Deciding who the target market is and determining their demographics, behaviors, motivation, needs, and goals is essential because the target market drives the marketing plan. This is typically done through studying research and data related to how potential customers are willing to invest their time and energy. Additionally, by deciding who potential customers are, deciphering their needs, and likes and dislikes, learning about their lifestyle, and observing how the target market behaves, creating a brand that appeals to these customers is possible. Create a 15-20 slide PowerPoint with speaker notes that explains your marketing strategy. Refer to the Marketing section of “Operations Chart” that was due in Topic 4. Based on your research and experience, your ideas may have changed and can be modified at any time during this plan. Address the following: 1. What is your target market? 2. What is the size of your target market? 3. What resources do you believe would be required to implement your plan? 3 4. How will you reach your plan? 5. How does your marketing strategy seek to achieve your vision? How will you measure if the marketing strategy is achieving your vision? What are the indicators to identify this? 6. What type of leadership and innovative qualities do you plan to implement in order to execute your marketing strategy? Provide three to five sources in your presentation. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. Part 5: Financials (Topic 6) A projected financial statement analysis seeks to forecast the impact of various implementation decisions. The pro forma financial statement can be part of the risk analysis of strategic plan. The goal of this assignment is to ensure your strategic plan is viable financially. In other words, does it create value for the firm? Consider the cost structure and revenue streams for your strategic initiative plan. Research and data collected so far and will likely change once your product or service is commercialized. Each statement should address financial components of features, expenses, and sales of your product or service. It is typical for net income to be negative at this point. Do not assume that you have sales at this point unless you have sold your product or service. Research the following if your plan is entrepreneurial: 1. 2. 3. 4. 5. 6. Balance sheet Income statement Statement of cash flow Fixed and variable expenses Startup expenses Breakeven analysis Research the following if your plan is a market expansion plan for an existing organization, or a mergers and acquisitions plan: 1. 2. 3. 4. Balance sheet Income statement Statement of cash flow Fixed and variable expenses 4 5. A projected budget 6. Breakeven analysis Complete the “Projected Financial Statement Analysis (Pro Forma 3-Year Financial Plan)”including the “Questions” tab, “12 Month P& L tab, “Year 1” tab, Year 2 P&L” tab, and “Year 3 P&L” tab. The first year is monthly and the second and third year are presented quarterly. Please note the questions in the “Questions” tab may be answered at different points in completing the Profit and Loss information. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are not required to submit this assignment to LopesWrite. Part 6: Critical Milestones (Topic 7) Gantt Chart Refer to Gantt chart resources in the topic readings. Create a Gantt chart that displays 36 months, using the Office Timeline tool or any other tool to produce a Gantt chart. Be sure to include rational 1-36 months Create a Gantt chart that outlines multiple critical milestones. Summary In a 250-300 word summary, address the following: • • • Include rationale for your Gantt chart. Identify one critical risk you could encounter that could prevent you from meeting each of your goal/objectives. Develop a contingency plan for the identified risk. Explain how this could maximize management efficiency and the allocation of resources. What leadership qualities are essential when dealing with the identified critical risk? Provide three to five sources in your presentation. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. Part 7: Executive Summary and Consolidated Presentation (Topic 8) Executive Summary Write a 500-750 word executive summary that seeks to spark interest in potential investors/stakeholders. The goal of the executive summary is to create an opportunity for 5 investors/stakeholders to consider the full details of your Strategic Plan and then decide to provide support. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. Consolidated Presentation Create a consolidated Strategic Plan PowerPoint in 25-30 slides with speaker notes that is directed towards interested investors/stakeholders (3.4). Address Parts 1-7 and include improvements from better understanding of the concepts, strategies, and instructor feedback. Address the following: • • • • • The presentation seeks to explain how your competitive advantage is achieved through your strategic initiative plan. (1.1) Describe why your organization’s mission and vision seek to promote the greater social good from a Christian perspective. How does your organization or perhaps even your plan accommodate an organization’s responsibilities to the greater social good, from a Christian perspective? (4.1) Include how your plan address ethics, cooperate social responsibility, and sustainability. Describe how your plan utilizes your leadership skills to encourage innovation within your organization. (1.4) Include an explanation of the global and international considerations in your strategic plan. Provide three to five sources in your presentation. While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center. This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion. You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance. 6 Course Code MGT-660 Class Code MGT-660-O501 Criteria Content Percentage 100.0\% Description of Environmental Scan 15.0\% External and Internal Assessment Tools 15.0\% Key Issues 15.0\% Outline 15.0\% Presentation of Content 10.0\% Layout 10.0\% Language Use and Audience Awareness (includes sentence construction, word choice, etc.) 10.0\% Mechanics of Writing (includes spelling, punctuation, grammar, language use) 5.0\% Documentation of Sources (citations, footnotes, references, bibliography, etc., as appropriate to assignment and style) 5.0\% Total Weightage 100\% Assignment Title Benchmark – Strategic Plan Part 2: External and Internal Assessment Unsatisfactory (0.00\%) A description of what you learned about the industry and your organization is not included. Appendix of external and internal assessment tools is not included. An explanation of how you applied the results of your internal and external assessment tools is not included. An explanation of how what you learned has challenges or supports your original vision/concept is not included. An explanation of what has emerged from your learning is not included. An outline of the preliminary strategic plan is not included. In addition, the selected organization?s culture within the context of implementing the strategic plan is not considered. The content lacks a clear point of view and logical sequence of information. Includes little persuasive information. Sequencing of ideas is unclear. The layout is cluttered, confusing, and does not use spacing, headings, and subheadings to enhance the readability. The text is extremely difficult to read with long blocks of text, small point size for fonts, and inappropriate contrasting colors. Poor use of headings, subheadings, indentations, or bold formatting is evident. Inappropriate word choice and lack of variety in language use are evident. Writer appears to be unaware of audience. Use of primer prose indicates writer either does not apply figures of speech or uses them inappropriately. Slide errors are pervasive enough that they impede communication of meaning. Sources are not documented. Total Points 100.0 Less than Satisfactory (74.00\%) A description of what you learned about the industry and your organization is included, but lacks sufficient detail. Subject knowledge is unclear or inconsistent. Appendix of external and internal assessment tools is included. An explanation of how you applied the results of your internal and external assessment tools is included, yet does not include sufficient detail to support claims or findings. Subject knowledge is unclear or inconsistent. An explanation of how what you learned has challenges or supports your original vision/concept is included. An explanation of what has emerged from your learning is included, however, the explanation lacks clarity. Subject knowledge is unclear or inconsistent. An outline of the preliminary strategic plan is included. In addition, the selected organization?s culture within the context of implementing the strategic plan is considered, however, the outline is fraught with gaps. Subject knowledge is unclear The content is vague in conveying a point of view and does not create a strong sense of purpose. Includes some persuasive information. The layout shows some structure, but appears cluttered and busy or distracting with large gaps of white space or a distracting background. Overall readability is difficult due to lengthy paragraphs, too many different fonts, dark or busy background, overuse of bold, or lack of appropriate indentations of text. Some distracting inconsistencies in language choice (register) or word choice are present. The writer exhibits some lack of control in using figures of speech appropriately. Frequent and repetitive mechanical errors distract the reader. Documentation of sources is inconsistent or incorrect, as appropriate to assignment and style, with numerous formatting errors. Satisfactory (79.00\%) A description of what you learned about the industry and your organization is included. Some subject knowledge is evident. Appendix of external and internal assessment tools is included. An explanation of how you applied the results of your internal and external assessment tools is included. Some subject knowledge is evident. An explanation of how what you le ... Purchase answer to see full attachment