BMGT 495 Strategic Management Final Examination Personal Strategic Plan
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Personal Strategic Plan
UMUC BMGT 495 Strategic Management Final Examination: Personal Strategic Plan Part I. The Strategic Plan: (suggested length 800 to 1,500 words), consider the concepts below and relate them to your personal strategic plan. Consider each concept carefully and then develop it fully but take care to stay within the length perimeters. 1. State your objectives. 2. Write a brief vision statement of your goals. (What do you want to have done when you lie on your deathbed when you are 100?) 3. Create a mission statement that includes your objectives for the next five years. 4. Do a SWOT analysis of your present situation. (Write one or two sentences for each item) Strengths, Weaknesses, Opportunities, & Threats. 5. Create a strategy to reach your objectives as stated in the mission statement: -An implementation plan (How will you get started) 5 points -An evaluation system What criteria will you use to judge if your plan is working? 6. Create a contingency plan: Consider unusual circumstances that may occur that will hinder your strategic management process. Remember that a contingency plan is not a plan “B”. A contingency plan should be considered to help you overcome obstacles so that you can reach your goals. 7. Summary: Close with a summary that discusses what you have learned from this assignment and relate it to the concepts of the course. Part II: (suggested length 350 to 750 words – be direct, to the point and end with a strong synthesis) As a thoughtful citizen who has an expertise in Strategic Management you are to be the speaker at the National Press Club in Washington D.C. and will be appealing to the president, the congress and the people of the United States with the following topic: A strategic vision of our future- consider readings from the World is Flat, the World is Curved and or current events and other sources such as the Ascent of Money the four part PBS series.: Describe what we need to consider in our strategies as a government and as citizens? What external factors do we need to consider as we scan the environment? What are the internal factors that we need to consider and prepare our strategic plan to survive and prosper in the next ten years? Be specific. You should outline the factors and then recommend the solutions: Introduction: Outline the situation of how the world has changed in the last 10 years. External factors: Including competition (opportunities and threats). Internal factors: Including (strengths and weaknesses of the U.S.). Synthesis: A powerful synthesis with recommendations. UMUC BMGT 495 Strategic Management Term Paper Project -Your individual project consists of three sections with a total value for both of 30% towards the course grade. -Always include an introductory paragraph that clearly and succinctly states your objectives for the assignment followed by the body. Use separate headings that clearly identify each section. Always summarize your paper with a succinct overview. -Word count/ length and citations: The word count of this assignment should each be between 1,800 to 2,500 words. Your word count must to be clearly stated on your cover page. Do not count the citations or matrixes in the word count. Add these into an addendum at the end of your paper instead. Always follow good citation protocol by clearly citing and giving credit to your sources. You will be marked down and risk plagiarism, if citations are not included. Always include an annotated bibliography or reference page at the end of your assignment in addition to citing sources within the content of the assignment. Your paper should be spell checked and grammar checked. Four or more references must be cited in addition to the textbook. Use an appropriate citation method such as APA. Place tables in an appendix or in the text but note that your term papers needs to be pasted into the assignment folder and the formatting will be lost unless you paste your document in as an HTML document. You may also include the term paper as an attachment in addition to pasting it into the assignment folder to preserve the formatting. Important: You should write your term project on a company you know, or are working for. If that is not possible then you may make an alternate selection with your instructor's permission. Post your request in the Term paper Topic Conference in our classroom or get in touch with me via email to get your company selections approved. You are not allowed to write your term paper on a company that is listed as a case study in the David text! Caveat: It is always difficult to use a government agency or military organization for this type of paper. You are strongly advised not to use government or military organizations because the information available for the competitor analysis tends to be difficult to document. You are encouraged to use a private or public company and not a government or military organization because these are not for profit organizations and therefore more difficult to assess for this assignment. -Term Paper Guidelines: Length: 1,800 to 2,500 words excluding citations, or the matrixes. All assignments should contain an introduction and summary. Headings must be used within the assignment for each specific section. Follow the report format guidelines that are posted in the Course Content area and at the beginning of these guidelines. All assignments should have an annotated bibliography that lists all sources consulted and should use proper citations within the document to ensure that no information is plagiarized. 1. Section 1. Objective: Perform an analysis of the external environment of your chosen organization. a. Introduction: State your objectives for this assignment. Be clear and specific in this introductory paragraph. b. Provide an overview of the organization with a brief history and include their URL and their current mission statement. c. Describe the external environment such as the political conditions and influences, the social and demographic setting and the state of the technology this organization operates in. Discuss both current and future external factors that will affect the strategic possibilities of the company you are analyzing. Discuss, examine and evaluate the predictions of futurists. d. Create an EFE matrix for this organization as a summarization tool here. Tip: Your discussion should clearly show that you understand the difference between external and internal factors. Do not confuse external with internal factors. 2. Section 2: A Competitor Analysis: a. Transition to section 2 with a transitional paragraph to establish your focus on creating a competitor analysis b. Competitor analysis: present and future. Analyze the competition for your organization and be specific as to the present as well as to the anticipated future competition. (Consider the changing face of the market á la Porter's Five Forces Model) c. Provide a Competitive Profile Matrix (CPM) as a summarization tool in closing this section by analyzing your company within the CPM format. 3. Section 3. Strategy Analysis, Recommendation, and Implementation: a. Introduction and transition: Lead in with an introduction of this third part to provide a transition and establish your objectives. b. Analysis of current strategies: Analyze the effectiveness of the current strategies used by this company. Investigate how effective its strategies have been either in increasing the company's competitive advantage or preventing its competitors from improving their competitive advantage. Be specific and document your facts and use quotation marks to clearly identify words that are not your own. c Strategy recommendation and time line: Make a major strategy recommendation and back it up with a rationale, justification and an implementation strategy including a timeline. d. Complete this section by identifying and explaining the ways in which this strategy will improve the strategic advantage of the organization. Be specific and convincing – “this is the big sell”. e. Summarize your assignment by giving a synthesis overview or your findings in to leave the reader with a good understanding of your recommendations. State what you have learned. g. Include an annotated bibliography of at least four sources other than the text to legitimize your findings and research.
… committed to accomplishing their goals but because of ill planning they are plagued with failure. For these reasons I have devised a personal strategic management plan in which my objectives … through this form of self assessment can personal strategy take shape. As with any business or organization, the SWOT analysis chart ...