MT460-5: Design A Plan To Implement A Business Strategy ✓ Solved
MT460-5: Design a plan to implement a business strategy
Design a plan to implement a business strategy throughout an organization. Your business report will contain a company analysis of resources to aid in the implementation and execution of strategy.
Step 1: Explore the templates within MS Word that can be used to develop your Assignment. You may choose to design your own business report without a template if you wish.
Step 2: Provide a brief synopsis of the company from your chosen case study or your employer. Include the company name, industry sector, products, target market, and any other pertinent background information.
Step 3: Identify and explain at least three of the company’s strategic priorities as indicated in business documentation. Write a broad statement of what is to be accomplished in relation to each identified strategic priority and indicate how the accomplishment of each strategic initiative is monitored and measured.
Step 4: Analyze the allocation of resources within the company based on strategic priorities. Explain the proper allocation of resources and how successful resource allocation is measured to ensure progress is being made.
Step 5: Analyze and explain the value chain activities of the company. Identify the best practices and process management tools that drive continuous improvement. Explain how the achievements of value chain activities are monitored and measured.
Step 6: Analyze information and operating systems that enable company personnel to carry out their strategic roles proficiently. Make recommendations on information and operating systems that may improve the company’s execution of strategy.
Step 7: Analyze and explain the key features of the company’s corporate culture, the role of the company’s core values and ethical standards, and how they drive proficient strategy execution. Indicate how the effectiveness of the company culture is monitored and measured.
Step 8: Meet the following format requirements: Use as many concepts from Chapters 10, 11, and 12 in your textbook as possible and use a minimum of three academic research resources to substantiate your ideas. Your business report should be professionally designed using desktop publishing skills.
Paper For Above Instructions
In today's dynamic business environment, designing and implementing effective strategies is essential for the sustainability and growth of organizations. This report will analyze Amazon's retail strategies as outlined in Case Study #3, "Amazon’s Retail Revolution". The analysis will include an overview of the company, identification of strategic priorities, resource allocation, value chain activities, information systems, and the corporate culture that drives strategy execution.
Company Overview
Amazon.com, Inc. operates in the e-commerce retail industry, specializing in a wide array of products, ranging from books to electronics to groceries. Founded by Jeff Bezos in 1994, Amazon began as an online bookstore and has since evolved into the largest online retailer globally. The target market for Amazon includes a broad demographic, comprising individual consumers, families, and businesses worldwide. The company's innovative approach to retail has revolutionized not only the shopping experience but also the logistics behind it.
Strategic Priorities
To sustain its market leadership, Amazon has identified three strategic priorities: enhancing customer experience, leveraging technology for operational efficiency, and expanding product lines.
1. Enhancing Customer Experience: This initiative aims to ensure a seamless shopping experience through personalized recommendations and fast delivery services. Performance is monitored through customer satisfaction surveys and Net Promoter Scores (NPS).
2. Leveraging Technology: Amazon invests heavily in technology to optimize its supply chain and fulfillment centers. The success of this initiative is measured through improvements in delivery times and reductions in operational costs.
3. Expanding Product Lines: This includes partnerships with third-party sellers to increase offerings on the platform. Performance metrics include sales growth from third-party sellers and inventory turnover rates.
Resource Allocation
Resource allocation is critical in achieving Amazon’s strategic priorities. Financial resources are focused on technology development and infrastructure enhancement, while labor resources are allocated to customer service and logistics operations. Capital assets, such as fulfillment centers and warehouses, are strategically located to maximize efficiency. The 5-W’s and 1-H analysis will highlight this allocation:
- Who: Head of Operations
- What: Allocation of financial and labor resources
- When: Quarterly reviews
- Where: Distribution and fulfillment centers
- Why: To improve operational efficiency
- How: By tracking performance indicators like delivery costs and service times.
The accountability for resource allocation lies with the Chief Financial Officer and the Chief Operating Officer, who ensure alignment with strategic objectives.
Value Chain Activities
Amazon’s value chain activities include inbound logistics, operations, outbound logistics, marketing and sales, and service. Continuous improvement practices, such as Six Sigma and lean management, are employed to enhance performance in these areas. These activities support strategic priorities by ensuring that customers receive their products quickly and efficiently.
Achievement in value chain activities is monitored through Key Performance Indicators (KPIs), such as order fulfillment rates and customer service response times, with accountability resting on the Value Chain Manager.
Information Systems
Effective information systems are pivotal for Amazon's strategic execution. The company uses advanced data analytics and cloud computing technologies to streamline operations. Recommendations for improvement include optimizing customer relationship management (CRM) systems to enhance personalization efforts. The effectiveness of these systems is tracked through operational metrics like uptime and user satisfaction.
The Chief Information Officer is responsible for ensuring the effectiveness of the information systems in supporting strategic priorities.
Corporate Culture
Amazon's corporate culture is defined by its leadership principles, including customer obsession, innovation, and operational excellence. These principles reinforce the importance of aligning internal practices with strategic goals. The company promotes a culture of ownership and accountability, which is crucial for effective strategy execution.
Monitoring the culture's effectiveness involves employee engagement surveys and performance evaluations, overseen by the Chief Human Resources Officer.
Conclusion
This report demonstrated the strategic implementation plan for Amazon, highlighting the necessity of aligning resources, value chain activities, information systems, and corporate culture with identified strategic priorities. By consistently reviewing and adapting these elements, Amazon maintains its market leadership and continues to innovate in the retail space.
References
- Bezos, J. (2020). Amazon's Leadership Principles. Amazon.com.
- Chaffey, D. (2018). Digital Marketing: Strategy, Implementation, and Practice. Pearson Education.
- Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
- Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review.
- Slack, N. & Lewis, M. (2015). Operations Strategy. Pearson.
- Thompson, A. A., & Strickland, A. J. (2012). Crafting & Executing Strategy: The Quest for Competitive Advantage. McGraw-Hill.
- Mintzberg, H. (1994). The Rise and Fall of Strategic Planning. Free Press.
- Collis, D. J., & Rukstad, M. G. (2008). Can You Say What Your Strategy Is? Harvard Business Review.
- Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business Review Press.
- Rubin, R. (2019). Innovation and Entrepreneurship. Harvard Business Review.