Thursday, December 12, 2019
Components of Effective Strategic Planning System
Question: Discuss about the Components of Effective Strategic Planning System. Answer: Introduction I am working as an IS/ICT specialist in my organization XYZ Pvt. Ltd. and I am leading a future digitization project as a team leader. Our organization wants to reduce the investment in IT and invest time into market solutions. By our manager, a demonstration is also given on the role of cloud computing in future of our industry. Our manager was excited about his new technological development and he has asked me to research the feasibility of organizational changes such as the move from premise in-house supported solution model to a cloud-based computing environment. Besides this, the major concerns of our manager include major investment in ERP solution that requires a lot of support and maintenance from skills that you do not have in-house. Another major concern of manager is an upgrade of CRM solution from the vendor that provides new features and capabilities. Next, the concern of manager is about Internet of Things (IoT) that how it can be used in organizations environment and c an provide greater customer value. On the behalf of this information, I need to identify the components and purpose of the strategic plan to address these concerns, identification of the need for changes, internal and external change drivers and assessment and identification of critical success factors (Sisson, 2017). In this professional business report, I will cover all above discussed points properly. Identification of Components and Purpose of Strategic Plan to address above Concerns The purpose of strategic plan is to find the ways to resolve major concerns of manager of our company XYZ Pvt. Ltd. In this strategic plan, I will define required components to resolve above listed concerns, its overall cost and time. Besides this, a strategic plan will help to predefine initialization of a project and how effectively can be ended. The major components of the strategic plan that are require for project implementation are vision, mission, objectives, strategies and action plans. Vision: The vision of our manager is to enhance companys investment in market solutions as compare to Information Technology. The implementation of cloud computing will also be implemented in organization to handle various business activities (The Balance, 2017). The mission of our organization is to deal and invest in advanced and emerging technologies to get better business outcomes (BDC, 2017). The main objectives of company are start usage of ERP and CRM solutions and business applications Internet of Things (IoT). To achieve objectives, as an IS/ICT manager I have decided to find out skilled employees who have critical knowledge about using ERP solutions. These employees have to maintain and support ERP solutions for long time for handling accounting activities. Next, the strategic factor is to start find out best vendor who can provide efficient Customer Management Solution (CRM) to XYZ Pvt. Ltd. After research about vendors of CRM we got few major vendors of this software solution i.e. Oracle, Microsoft, SAP and Adobe Systems (Simply-strategic-planning.com, 2017). The main action plan to implement above strategies and to fulfill objectives of company, we need to concentrate on every concern one by one and in this support of management, employees and stakeholders is also required. This professional report will help to convince these people (dummies, 2017). Identify Needs of Changes The major needs of above discussed changes in our organization is to make company more capable to compete in competitive market with its new trends and ideas (Professional Growth Systems, 2017). The internal change drivers or influencers in company will be employees such as project managers, clerical employees, accountants and other low level employees. Besides this, customers will have influence of new changes in company. After assessment of these changes, it is found that implementation of CRM and proper maintenance of ERP solutions will help to manage customers quickly through their organized records of information in Enterprise Resource Planning (ERP) solutions (Professional Growth Systems, 2017). The external change drivers/influencers will be stakeholders, investors and suppliers of company who will invest in implementation of these new technologies in organization (Crmcafe.com, 2017). Current State of Organization The current state of organization is that, our company has been working on ERP solution for five years and getting expected outcomes. But now main problem is of maintenance of this solution in case of any failure. Due to lack of knowledge and experience in IT, our manager observed that business is moving towards loss, so he wants to enhance contribution in quicker market solutions such as mobile based CRM, cloud services and applications of Internet of Things such as wearable devices (Apps Research Buyer Insight, 2017). The critical success factors of company are its interest in execution of cloud services, use of customer management solutions and its strategic plan with its clear vision and mission statements. These things will help our organization to achieve its objectives (Simply-strategic-planning.com, 2017). Conclusion In this project report, I have discussed every essential point that will help our manager to fulfill its objectives. The usage and availability of required market solutions and its influences on internal and external sources of company are clearly defined in this report. On the behalf of above discussed information, the manager of company can make effective decisions for future of company. Therefore, it is necessary for business organization to understand requirements and components of CRM and according to current state of company, decision for implementing new changes should be taken. References Professional Growth Systems. (2017). Components of an Effective Strategic Planning System. [online] Available at: https://www.professionalgrowthsystems.com/library-articles/components-effective-strategic-planning-system/ [Accessed 16 Mar. 2017]. Apps Run The World - Apps Research Buyer Insight. (2017). Top 10 CRM Software Vendors and Market Forecast 2015-2020. [online] Available at: https://www.appsruntheworld.com/top-10-crm-software-vendors-and-market-forecast-2015-2020/ [Accessed 16 Mar. 2017]. Simply-strategic-planning.com. (2017). Essential components of strategic planning. [online] Available at: https://www.simply-strategic-planning.com/components-of-strategic-planning.html [Accessed 16 Mar. 2017]. Capterra.com. (2017). Best CRM Software | 2017 Reviews of the Most Popular Systems. [online] Available at: https://www.capterra.com/customer-relationship-management-software/ [Accessed 16 Mar. 2017]. Crmcafe.com. (2017). The Top 5 CRM software systems and reviews. [online] Available at: https://www.crmcafe.com/crm-software.php [Accessed 16 Mar. 2017]. dummies. (2017). Major Components of a Strategic Plan - dummies. [online] Available at: https://www.dummies.com/business/business-strategy/major-components-of-a-strategic-plan/ [Accessed 16 Mar. 2017]. Professional Growth Systems. (2017). Components of an Effective Strategic Planning System. [online] Available at: https://www.professionalgrowthsystems.com/library-articles/components-effective-strategic-planning-system/ [Accessed 22 Mar. 2017]. BDC. (2017). The 5 key components of your corporate plan. [online] Available at: https://www.bdc.ca/en/articles-tools/business-strategy-planning/define-strategy/pages/corporate-plans-5-key-components.aspx [Accessed 22 Mar. 2017]. The Balance. (2017). 7 Elements of a Strategic Plan. [online] Available at: https://www.thebalance.com/strategic-plan-elements-2276139 [Accessed 22 Mar. 2017]. Sisson, C. (2017). Key Components of a Winning Strategic Plan. [online] Walsworth.com. Available at: https://www.walsworth.com/blog/key-components-winning-strategic-plan [Accessed 22 Mar. 2017].