Strategy Formation and Implementation

1 BUSM3200 Strategic Management Detailed assignment guide Semester 1, 2017 Assignment 2 (Group Assignment): Strategy Formation and Implementation Weighting This assignment accounts for 45 % of the assessment in this Course. Due Date Monday, Week 1 2 Due T ime By 7.00 pm (Local time) Place via RMIT Blackboard electronic submission Format Report Length 7,500 words (Maximum) , 1.5 line spaced, 12 point Times New Roman. Note: The word count does not include references or appendices You will work in a group of five (5 ) with those in the same tutorial class to propose one strategic initiative and develop its implementation plan based on the strategic analysis of your individual assignment (Assignment 1). Your group formation will be completed by Week 7 either by yourself or by your local lecturer. The assessme nt wi ll be discussed in the Modules 2 , 3 and 7. W rite a 7500 word (Max) report, including 200 words of Executive S ummary, but ex cluding references and appendix. You will use the findings from your first assignment of all your group members to propose one strategic initiative for the organization encompassing a three -year time horizon. Your focus should also be on integrating the findings and feedback from your first assignment and then building upon these to create an actionable strategy implementation plan. The plan has to be achievable and realistic. Y ou have to clearly demonstrate what the strategic initiative is, why your plan can help the organization achieve and maintain a sustainable competitive ad vantage , and how this plan can be implemented . In this report, you are required to perform the following tasks: 1. Identify and discuss the current generic type of business strategy the organisation implements by examining its strategy statement and/or its value chain activities. 2. Propose ONE new strategic initiative for the organisation to implement. This initiative can be a major functional initiative, such as marketing, use of technology, product innovation, and M&A. Describe its contents in details. Justify why your initiative is strategic and how it can enhance the organisation’s competitive advantage . 3. Develop a strategy implementation plan that primarily focuses on the following areas: a. What needs to be changed to implement the strategy? b. Why the propos ed changes should be made? c. How will the changes proposed be managed and implemented ? 4. Explain how the organization will measure and evaluate the strategic initiative you proposed . Focus specifically on: a. A set of key success measures for the strategic ini tiative, using Balance Scorecard. b. Draw a strategy map that indicates the key success measures and their hierarchical relationships. 2 c. The suitability of the strategic initiative you proposed in the light of the external environment, the organisation’s strate gic capability, and its current business strategy. References should be utilised within this Report to validate the information presented, and should be drawn from academic sources and organisational information such as the website and annual reports. The business press may be used sparingly to identify relevant issues . Learning outcome/s and capability development This assessment is deliberately designed not only to test what you know, but to also build lifelong learning skills. It has been developed to give you the best possible opportunity to help the organization to survive and thrive into the future. The skills that you will be developing include:  cognitive conceptualisation skills  critical thinking and analysis skills  creative application skills. All these are valuable skills you will need in future employment. How well you are able to demonstrate these skills and knowledges will impact not only on you and your group (in terms of a mark) but also has the potential to influence the future of the cas e study organisation. Your work matters . Advisory notes for this assignment • You should conduct an extensive information search on the organisation selected. • Company websites, annual reports, and media reports are important sources of such information, but their objectives , and thus credibility , should be carefully analysed and evaluated. • You should use appropriate concepts and analyti cal tools in your report . • The report should be written in prose; however limited use of dot points is acceptable. • This advic e should be read in conjunction with RMIT assessment policy and the course guide. Guide for assignment presentation Written assignments must be presented in a professional format. Quality of presentation, especially literacy, will be considered in the mar king criteria . Written communication skills are an essential component of RMIT University’s courses. In line with RMIT policy, all sources of information must be fully referenced using standard Harvard or APA referencing systems. You are encouraged to us e referencing software such as Endnote for referencing and formatting. The assignment should be in report format and use Times New Roman font size 12, 1.5 line spacing. Assignment submission You are required to submit your assignment online. It should be attached with a coversheet, which can be downloa ded from the Course Blackboard and signed . Please submit it via the course Blackboard and not : 3 • Use only ONE student log -in account for your group/pair to submit the group/pair assignment into the Turnitin, and then to the course Blackboard . Otherwise you r Turnitin report will have a high similarity percentage . • Staff have access Turnitin information • Further submission instructions will be given in the seminars .