CAREER CONNECTION: Final Strategic Plan

BUSINESS OBJECTIVES AND STRATEGIC PLAN 10

Business Objectives and Strategic Plan

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BUS/475

February 13, 2017

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Business Objectives and Strategic Plan

As indicated in this business model, so that the manufacturing of the construction vehicles be effective, evaluating the objectives of this division is the most important thing. This helps to give the division a clear direction that will be based on the objectives. The progress will be easily measured including the key performance indicators. As a result, key considerations will be made in regards to the results of the SWOT analysis and the supply chain analysis.

The SWOT analysis results helps in working out on any weaknesses and threats whereas the supply chain analysis will help to identify the major sources of customers, the availability of raw materials and if there is the need to have distribution centers that would make the customers be able to access the vehicles to either buy or lease them (Transportation Marketing Services., 1988). All this will ensure that the company can manufacture the construction vehicles at reduced costs, more customers get to buy the vehicles, help the company grow up radically and increase the technological innovation in the company’s line of production. With this in mind, the following are the major objectives the company is looking to achieve in the following perspectives

Financial perspective

Shaw Group Inc. will increase its market share from the current 22% to 27% given that the new vehicles are eventually going to increase the product range of the company. This will make it have more customers for the new vehicles. As a new model of construction is going to hit the market, it will increase the revenues of the company much more. However, the company is looking at ways of minimizing the production costs as much lower as possible. More revenues and reduced costs will see the company register an increase in profits. Since this is the newest model of construction vehicles to be manufactured, the company is going to increase its competitive advantage. This is because it will take a longer time before other vehicle manufacturers tap into the opportunity.

Customer value

On the customer perspective, customers look for a range of products that are offering a solution to their issues. We expect to experience an influx of more customers who will be I need of these construction vehicles. The existing customers will also buy from the company as this will give them a reason to continue buying from the company. Our customers will be very happy to be associated with a company that wants to have all their requirements catered for which includes construction needs as well as construction vehicles (Butuner H., 2016). As the customers will have access to affordable construction vehicles purchases or leases, this will make them feel that they still retain the value of their money.

Internal operations

The company expects to increase efficiency in the production process. Therefore, the use of modern technology is expected to be employed which will ensure that high-quality construction vehicles are manufactured. Thus the performance index will be regularly measured to identify the productivity. Also, measures to ensure that the company has a positive impact to be deployed.

Learning and growth

Because Shaw Group Inc. will be venturing into a whole new product line, the company expects to give its employees more education and special skills regarding the manufacturing of construction vehicles. We also expect to hire more employees to work on the production line. Thus the current employees will be retained as more come in. The new division will indicate how the level of the organization’s capability is high. The organizational culture is expected to change so as to realign with the new division's objectives. Because the manufactured vehicle is expected to reduce more labor at the construction site, the organization intends to add more technological improvements to the vehicles to enable them to serve as many purposes as possible.

Key trends, assumptions, and risks

The above objectives are based on key trends in the construction industry which include reducing costs by employing very few laborers, reducing costs, improving efficiency and increasing the market share, competitive advantage and use of modern technology. However, it is assumed that more clients are basically going to adopt to the new vehicle brands, the ability to use all the compressed technology in the vehicles and that are going to accept the purchase or lease prices of the vehicles (Fogg C. D., 1999). However, this move bears so many risks that will greatly affect full implementation and therefore begin the process of production. The key risks include government policies, the desired skills the employees are to poses, funds and the market availability. The government may decide to deny the division a permit to go ahead with the manufacturing of the vehicles citing changes in the compliance requirements and the internal regulations. The employees who may be required to work in the division may not have acquired the rightful skills thus making the search for the qualified personnel a longer task. The company as may be required to set up facilities that are vital in the vehicle manufacture, it may drain the company’s funds which may make it temporarily unable to meet its obligations. Insufficient funds may halt the whole project and the reputation of the firm. Due to lack of employment opportunities in the less developed nations, the firm may not find these countries as the immediate customers. However, to the developed nations, this may pose a danger to individuals losing their jobs in the construction industry.

Impact on the stakeholders

The creation of this new division and this project will have a great impact on how the relationship with the stakeholders is going to be. The number of directors is going to increase as this requires more directors with great management skills in manufacturing of vehicles, there will be the need to have more suppliers who will now supply more vehicle parts and materials, the number of employees is going to be more as this requires additional employees, more job opportunities to the nearby residence and need for more space will require that more residents to be relocated which will thereby inconvenience them.

Communication plan

Communication plans to ensure that the plans of a project are accurate consistent and relevant. Project plans ensure that all the stakeholders are informed of the new developments in the course of the project (Walker, O. C., Boyd, H. W., & Larréché, J.-C., 1992). Thus this s a brief framework of how the project will be communicated

Communication objectives-This plan will ensure that there are effective and open communications to all the relevant stakeholders.

Communication purpose and target audiences

Communication message and delivery

Communication message contents

Plans

-current and future plans

-Issues and the problems

-Planned deliverables for the coming periods

Status Report

-the status summary

-The status of the Scope

-Concerns and or Issues

-Status of the Schedule

-Status of the Budget

-Achieved Accomplishments

-The Team Members

-The Next Steps

Briefing

-Goals and Improvements

-Status

-Problems and the Issues

-The Checklist of Deliverables.

References

Transportation Marketing Services. (1988). Consolidated rail corridor: A strategic plan for implementation : executive summary.

Butuner, H. (2016). Systematic strategic planning: A comprehensive framework for implementation, control, and evaluation.

Fogg, C. D. (1999). Implementing your strategic plan: How to turn "intent" into effective action for sustainable change. New York: AMACOM.

Walker, O. C., Boyd, H. W., & Larréché, J.-C. (1992). Marketing strategy: Planning and implementation. Homewood, IL: Irwin.