Professional Development for Strategic Managers


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Professional Development for Strategic Managers
Submission Guidelines:
Your submission should be in a report format (500) words for each task. (3) task *500=1500
Abstract should be in a report format (150) words.
Introduction should be in a report format (100) words.
Conclusion should be in a report format (250) words.
References.
Unit Aim:
To provide learners with the methods and techniques to assess the development of their own skills to support the achievement of strategic direction
Assignment ? Part 1
Tasks
Suppose you are one of the strategic managers at 3T. Based on your knowledge about personal and professional skills required to achieve strategic goals and the information gained from the case study, answer the following questions:
1.1 Use appropriate methods to evaluate personal skills required to achieve strategic goals. Support your answer with reference to the case presented above. (A.C:1.1)
1.2 Apply techniques to assess the professional skills required to support the strategic direction of theorganisation in the context of the above organisation.(A.C:1.2)
Learning Outcome 1
Assessment of the Module
This learning outcome will be assessed by the assignment presented below. To achieve a pass, learners must demonstrate that they have achieved the following learning outcome through their work to complete the tasks 1.1 and 1.2.
Learning Outcome
Be able to assess personal and professional skills required to achieve strategic goals.
Assignment Brief
Tammy?s Tantalising Tacos (3T) is an up-and-coming chain of Mexican fast food cuisine. Its strategic goal is to increase its annual revenue by 30% in the next two years. 3T?s long-term strategy (ten-year) is based on this financial goal. This strategy will succeed only if 3T is able to significantly increase its sales. There are many factors that can add up to increased sales ? great customer service, efficient processes that deliver food quickly and with minimal fuss, etc. All such improvements would be predicated on having well-trained employees being proficient in their respective skill sets.
Here is a list of criteria that 3T aims to evaluate each objective that will lead it to its strategic goal:
Is the objective specific and measurable?
Is the objective continuous, ongoing, and non-dated?
Does it convert the 3T mission/vision into action?
Does it help to sustain 3T?s competitive advantage?
Here is a listing of 3T?s objectives:
Financial
Financial Growth
Exceed $10 million in the next ten years.
Increase revenue by 15% annually.
Increase gross profit by 10% annually.
Increase sales by 10% annually.
Financial Efficiency
Decrease expenses by 5%.
Increase net profit by 10%.annually.
Improve overall efficiency as measured by throughput.
Improve overall productivity (doing more with what you have).
Customer/Constituent
Current Customer
Expand sales to existing customers.
Increase customer retention.
Increase customer loyalty.
Cross sell existing products/services to current clients.
Achieve and maintain outstanding customer service.
Develop and use a customer database.
Anticipate future customer needs through customer feedback.
New Customer
Introduce existing products into a new market.
Introduce new products to new and existing markets.
Anticipate future customer needs through customer feedback.
Expand sales to the global marketplace.
Customer Service
Improve service approach for new and existing customers.
Internal/Operational
Product/Service/Program Management
Have all products meet standard of excellence guidelines.
Operations Management
Continually improve internal process to realise efficiencies.
Capitalise on physical facilities (location, capacity, etc.).
Improve organisational structure.
Redirect or restructure available resources.
Increase community outreach.
Technology Management
Increase efficiencies through use of wireless or virtual technology.
Successfully implement and realise benefits from computer and software systems.
Communication Management
Improve internal communications.
Customer Management
Acquire enhanced CRM data mining capabilities.
Execute and maintain a CRM process that is producing results.
Marketing Management
To continuously broaden our customer database by obtaining new information on customer characteristics and needs
Develop and implement a promotional plan to drive increased business
Improve marketing, advertising and public relations
Alliance Management
Establish one new strategic alliance annually
Channel Management
To aggressively strengthen our upstream channels
Improve distributor and/or supplier relationships
People/Learning
People
To hire, develop and maintain the right people
Employ professionals who create success for customers
References:
http://mystrategicplan.com/resources/examples-of-strategic-objectives/
Assignment – Part 2
Tasks
Conduct an in-depth research on McDonalds and its leadership requirements. Based on your research, perform the following tasks:
2.1 Carry out a skills audit to evaluate the strategic skills needed to meet current and future leadership requirements of McDonalds. (A.C:2.1)
2.2 Apply appropriate techniques to identify preferred learning style. Support your answer with an example. (A.C:2.2)
Learning Outcome 2
Assessment of the Module
This learning outcome will be assessed by the assignment presented below. To achieve a pass, learners must demonstrate that they have achieved the following learning outcome through their work to complete the tasks 2.1 and 2.2.
Learning Outcome
Be able to conduct a skills audit to identify learning style.
Assignment Brief
McDonald?s Corporation
Company Overview
To the world, the McDonald?s brand means something more than a hamburger and fries. With the successful expansion of McDonald?s into many international markets, the company became a symbol of globalisation and the spread of the American way of life. Communities around the world benefit from its deep links to businesses, charities and civic organisations.
The “McDonald?s System” provides employment and growth opportunities for more than 1.6 million people around the world. The business is managed as seven distinct geographic segments or major markets:
United States
Europe
Asia-Pacific
The Middle East
Africa
Latin America
Canada
The Business Environment
In 2003, McDonald?s stock price was significantly lower than it had been in a decade. Competition was intense and growing anti-Americanism in the global marketplace brought significant challenges to expansion efforts.
Senior management was focused on improving company performance and supporting initiatives that would deepen customer connections. McDonald?s launched a revitalisation plan called ?Plan to Win? ? which serves as the global business strategy and framework for deepening those customer connections. The plan has five areas of focus ? People, Products, Place, Price and Promotion. The global ?People Principles? provide a framework for people-related programs and practices worldwide. This reflects the company?s commitment to an inclusive, supportive workplace environment, and to recognising and rewarding good performance. Global performance management was viewed as one of the initiatives that could help to drive a high-performance culture, and deliver better company and individual performance.
In early 2007, McDonald?s CEO reaffirmed McDonald?s commitment to ?Plan to Win,? stating that it, ?… is the foundation for our current and future success. In fact, since we began our revitalisation in 2003, we’ve grown system-wide sales by almost 40 percent, an increase in revenues by $6 billion. We’ve delivered double-digit increases in our average annual earnings per share. Our share price has nearly tripled and we are serving six million additional customers every day.?
The Challenges that Occurred
McDonald?s global performance management practices did not share a common set of standards and, as a result, it was difficult for the company to systematically identify and reward its top talent. Managers lacked a common understanding of what ?high performance? should mean. For example, the five-point rating scale represented different things in the various locations around the world. Also, candid conversations were not occurring between employees and managers.
To drive a high-performance culture, the company needed to:
Better differentiate performance at the individual level
Support managers in giving their employees open and honest feedback
Tie rewards to the highest performance
Sources:
[1] http://www.bersinassociates.com/fr4/103107_CS_McDonalds_LL_Final.pdf
Assignment ? Part 3
Tasks
Continuing with the case of McDonalds,perform the following tasks:
3.1 Construct a Personal Development Plan (PDP) that meets leadership development requirements identified in the skills audit that you performed in tasks 2.1 and 2.2.Consider the market scenario and McDonalds? needs while creating the PDP.(A.C:3.1)
3.2 Use suitable methods to assess the outcomes of a personal development plan against personal work objectives. Support your answer with reference to the case of McDonald?sCorporation. (A.C:3.2)
3.3 Evaluate the impact of your own learning against the achievement of strategic goals.(A.C:3.3)
Learning Outcome 3
Assessment of the Module
This learning outcome will be assessed by the assignment presented below. To achieve a pass, learners must demonstrate that they have achieved the following learning outcome through their work to complete the tasks 3.1, 3.2 and 3.3.
Learning Outcome
Be able to implement a personal development plan.
Assignment Brief
Refer to the case of McDonalds used in Learning Outcome 2.



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