Prepare a draft document for review by your professor that includes the following: · an auditing Plan/Balanced Scorecard that will define how objectives are going to be tracked over the next th

Running Head: STRATEGY IMPLEMENTATION DRAFT 0

Phase 2: Strategy Implementation Draft

Gurleen Kaur

2019081614

BUSI 4153- Business Strategy

Professor Michele Vincenti

Sunday, August 14, 2022

Measurable goals that an organization or company can set for the next three years involve aligning plans with the corporate mission and values. Tawse & Tabesh (2021), an organization can allocate responsibilities, allocate budgetary resources, establish effective leadership, and structure all processes for effective strategy implementation. An organization can align employees based on their skills and organizational needs to ensure successful strategy implementation (Aladag et al., 2020).

Organizational chart

An organizational chart is a diagram that depicts relationships or a hierarchy of reports (Cândido & Santos 2018). The most common use of an organizational chart is to show other organizations, governments, and businesses. Organization charts have different uses and can be structured in different ways, and they can be used as a personnel directory, for planning purposes, and as a management tool (Tawse & Tabesh 2021). An organizational chart helps achieve the goal because it conveys the internal structure of the company. A structure defines the relationships, roles, and responsibilities that arise between individuals in a company, as shown in Figure 1.0 (Aladag et al., 2020). In addition, it stipulates the responsibility of each employee in the organization and their role in achieving the company's goals.

Prepare a draft document for review by your professor that includes the following: · an auditing Plan/Balanced Scorecard that will define how objectives are going to be tracked over the next th 1

Figure 1.0: Organizational chart

Product positioning map

A positioning map is a diagram that allows a company, organization, or business to compare its products with competitors and identify opportunities for new products in the market (Cândido & Santos 2018). A positioning map displays the two main benefits of a product on the vertical and horizontal axes of the graph, and these products are based on what is important to the customer (Tawse & Tabesh 2021). Positioning is one of the most powerful marketing concepts for various organizations around the world. Product positioning is primarily the place a brand occupies in the minds of target consumers or customers. Often, the national positioning strategy is used or slightly modified as a tool to enter foreign markets when it comes to product globalization.

In many cases, a product positioning map in strategy implementation includes a schematic visual representation of products relative to their competitors in the market, as shown in Figure 2.0 (Aladag et al., 2020). Therefore, the organization builds product positions based on competitors' products available in the market. Positioning depends on the extent to which a product satisfies customer needs from different perspectives (Cândido & Santos 2018). In addition, the organization identifies an existing competitor to help implement the strategy.

Prepare a draft document for review by your professor that includes the following: · an auditing Plan/Balanced Scorecard that will define how objectives are going to be tracked over the next th 2

Figure 2.0: Product positioning map

Projected income balance sheet

Financial modeling involves a variety of predictions that help business managers make decisions in an attempt to monitor the future performance of organizations (Tawse & Tabesh 2021). The balance sheet forecast is always completed in tandem with the income statement forecast. Therefore, a thorough understanding of balance sheet forecasting is an important skill in improving financial modeling.

Since the balance sheet reflects the financial position of the enterprise at a certain point in time, it is quite clear that the balance sheet forecast is an attempt to predict what the financial position of the enterprise will be in the future under certain circumstances. In simple words, the income statement for projected income shows the cost of goods, accrued income or revenue, and sales of the company as shown in Figure 3.0 (Aladag et al., 2020). It also helps determine operating costs and the cost of goods sold. Therefore, the impact of the strategy leads to sales that increase business profitability, customer satisfaction, and improved production (Cândido & Santos 2018).

Prepare a draft document for review by your professor that includes the following: · an auditing Plan/Balanced Scorecard that will define how objectives are going to be tracked over the next th 3

Figure 3.0: Projected balance sheet

Tawse & Tabesh (2021), estimating the present value of an organization entails examining the return on investment based on the future and current state of the dollar. Present value gives the financial equity of a business in meeting future financial benefits and obligations (Aladag et al., 2020). Cândido & Santos (2018), value is calculated using methods such as book value calculation based on balance sheet information, market capitalization, and discounted cash flows.

References

Aladag, O. F., Köseoglu, M. A., King, B., & Mehraliyev, F. (2020). Strategy implementation research in hospitality and tourism: Current status and future potential. International Journal of Hospitality Management, 88, 102556.

Cândido, C. J., & Santos, S. P. (2018). Implementation obstacles and strategy implementation failure. Baltic Journal of Management, 14(1), 39-57.

Tawse, A., & Tabesh, P. (2021). Strategy implementation: A review and an introductory framework. European Management Journal, 39(1), 22-33.