Effective Strategic Map Development Process Essay

Question:

Discuss about how an Effective Strategic Map Development Process is Effective for making necessary Business Plan and Policies in Corporate Function.

Answer:

About the organization:

ABC is one of the largest multinational hotel groups occuping a predominant place in the domain of hotel industry. In order to gain the international image and reputation this particular organiztaion has focused to develop their corporate function more effectively. Corporate functions include every signle departments related to the business sectors such as customers, finance, human resource departments, operations, logistics and so on (Swayne, Duncan and Ginter 2012). I being a business consultant have decided to develop a strategic map for my organiztaion. I want to involve the top managers of my company in order to collect necessary data and information for developing my strategic map.

Three primary aspects of strategic map:

While forming the strategic map I have focused on three major aspects to place their brands in the international market. The three major aspects include geneating growth through innovation, enhancing the customers’ eperience and creating the operational excellence. After evaluating the entire buisness growth of ABC I have observed that the learning growth of this specific business organizataion is highly dependent on the finance, customers and internal resources (Hitt, Ireland and Hoskisson 2012). Therefore, I have focused to draw an effective strategic map based on which the various aspects of corporate functions has been highlighted.

Figure: Strategic Map on Corporate Function

(Source: Created by the author)

Corporate strategy on finance:

After drawing the strategic map it has been analyzed that the productivity of this particular organization is high that enables to draw the needs and demands of customers. Based on the productivity the organization is successful to earn a satisfactory growth (Daley 2012). Therefore, the finance managers of ABC can focus on increasing shareholder value for expanding the entire business process beyond going the regional market of France.

Strategy on customers:

ABC has already gained organiztaional recognization for providing innovative products as well as services. Therefore, the marketing managers have made a strategy to deliver the product to the customers within time (Slack 2015). Use of advanced technlogy and effective operation process the products and service of ABC can be delivered within time. While making an effective strategy on corporate function ABC has realized that customer satisfaction is highly important for gaining brand identity and image.

Strategy on developing internal resources:

I have focused to enhance internal resources such as technological advancement, product development, channels of supply chains and so on. As per the startegic map it has been observed that ABC while using their service process does not use advanced technology (Rothaermel 2015). As result, the entire service process get delayed. Customers have to wait for the long time in order to use the service of this particular organization.

Learning growth:

However, based on the strategic map it can be concluded that service innovation, customer satisfaction and operation execellece are three major factors based on which ABC can spread their business wings different ccountries. The focused strategic areas would help to develop the functional growth of the organiztaion.

Proper methodology of an interview:

In order to conduct an effective interview session I have selected two managers from finance department as well as operation department. Non-probability sampling techniques have primarily been used in order to collect data and information. Non-probability sampling technique is the effective way with the help of which data can be collected from specific number of people. While gathering data regarding the impact of corporate function, the study has focused in involving two managers (Langley et al. 2013). They are directly associated with the corporate functions. The role of the two managers is to evaluate the entire scenario on how ABC had to face innumerable difficulties in ruuning their business process effectively. Based on the challenging areas the organization has been suggsted to provide some of the most effective strategies and policies (Killen et al. 2012). The strategis would help in developing the entire buisness growth and to gain the recognition of internal fame.

Interview to the top manager:

In order to collect necessary data before making the strategic development two managers from finance and operation department have been selected by throwing two separate questions.

Question 1: How far do you believe that developing a strategic map is highly important for identifying the areas of improvement?

In this particular question the finance manager of ABC has opined that behind every initiative an efefctive plan and policy is highly important. In order to run the entire process of buisness and to place the brand in International market the organiztaion has to focus on developing some of the important strategies and policies based on current needs and demands of customers. Before, developing the strategy we had to indetify the corporate functional issues due to which the customers’ service process is getting highly affected. This particular indiviual being a finance manger has highlighted that our organization is possessed with sufficient growth of revenue in every year due to the avaiable productivity. In comparison to the revenue structure the market share of this organiztaion is low. Therefore, being a manager while developing the strategic map have focused on how the organiztaion can enahnce their level of market share by increasing market promotional strategy, market positioning strategies, product diversification and so on.


Based on the data collected from the finance manager of ABC it can be evaluated that before increasing marketr share of this organiztaion an effective strategic map is highly important.

Question 2: What particular challenges the organization had to face while developing the strategies and policies?

In this particular qualitative question the operation manager of ABC pointed out that organiztaion had to face innumerable challenges while developing strategic map on corporate function. As already stated in order to prepare the map, we have to collect sufficient data and information regading the identified issues. We had to face immense difficulties in identifying those corporate issues based on which the strategic map should be devepoed. In order to develop strategy related to customer service the business expectives had to make an effective market survey in order to know the market demand. While conducting the market survey, we faced diffferent levels of barriers such as communication barrier, language barrier, psychological barrier, cultural barrier, religious barriers and so many. At the same time, after identifying the buisness issues, we had to face challneges while implementing strategies due to budget connstraints. For an example, in order to increase the rate of market share, we would have to focus on effective promotion. Therefore, organiztaion has to invest large amount of money for maintaining the promotional activities. However, budget has become one of the most effective barriers due to which we failed to maintain systematic promotional activities all over the world.

Summarize information gathered in the strategy map:

With the help of effective methodological tools I being a consultant have conducted a brief interview session by involving the two top managers of ABC. After interacting with the top managers I have realized that ABC in order to launch their entire buisness process in the multinational countries should focus on three major areas that include customer satisfcation, corporate performance on buisness innovation and operational excellence. Based on the three primarily developing areas ABC has focused to enhnce their market share along with market promotional activities. At the same time, it is undeniable that organiztaion does not tend to use technological advancement while providing necessary services to the organiztaion. Therefore, while developing the strategic map the buisness experts have emphasized the impotance of advanced technology for providing innovative services to the target customers.

References

Daley, D.M., 2012. Strategic human resource management. Public Personnel Management, pp.120-125.

Hill, C.W., Jones, G.R. and Schilling, M.A., 2014. Strategic management: theory: an integrated approach. Cengage Learning.

Hitt, M.A., Ireland, R.D. and Hoskisson, R.E., 2012. Strategic management cases: competitiveness and globalization. Cengage Learning.

Killen, C.P., Jugdev, K., Drouin, N. and Petit, Y., 2012. Advancing project and portfolio management research: Applying strategic management theories. International Journal of Project Management, 30(5), pp.525-538.

Langley, A., Smallman, C., Tsoukas, H. and Van de Ven, A.H., 2013. Process studies of change in organization and management: Unveiling temporality, activity, and flow. Academy of Management Journal, 56(1), pp.1-13.

Rothaermel, F.T., 2015. Strategic management. New York, NY: McGraw-Hill.

Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.

Swayne, L.E., Duncan, W.J. and Ginter, P.M., 2012. Strategic management of health care organizations. John Wiley & Sons.

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