Aspects of planning, leading, organizing, and controlling in mind
Respond to the following in a minimum of 175 words:
• With the aspects of planning, leading, organizing, and controlling in mind, how would you evaluate the effectiveness of a strategic plan?
• What do you think is the most important piece of information to consider when determining effectiveness? Why?
PART II
Project plans outline the intended course of events; however, things don’t always happen as intended. Organizations must consider risks and develop a contingency plan. This plan is typically presented to management.
Based on your prior research, identify potential risk factors for not meeting each of the project objectives. Risk mitigation is the process of understanding certain risks and threats, accepting that they exist, and taking the appropriate measures to reduce their effects in case they happen.
Develop a contingency plan for the potential risks for your project.
Create a 10- to 12-slide presentation with detailed speaker notes and visuals in which you:
• Identify the organization’s information presented in Week 1. (UBER)
• Explain how the SWOT analysis and market trend research relate to how you determined the project you selected.
• Explain how the project objectives will advance the organizational goals.
• Assess how success will be measured, including project metrics, timelines, and responsible parties.
• Evaluate the value this project will bring to the organization.
• List each of the potential risk factors along with the immediate risk mitigation plan.
• Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives.
Sample Solution
Part I: Evaluating Strategic Plan Effectiveness
Planning, Leading, Organizing, and Controlling (PLOC) Framework:
To evaluate a strategic plan's effectiveness, consider its performance within the PLOC framework:
- Planning: Assess the clarity, conciseness, and feasibility of the plan's goals and objectives. Were relevant market trends, competitor analysis, and SWOT analysis incorporated during the planning stage?
- Leading: Analyze how effectively leaders communicate the plan, motivate team members, and foster a culture of ownership and accountability for achieving the plan's objectives.
Full Answer Section
- Organizing: Evaluate whether resources (human, financial, technological) are allocated strategically to support the plan's execution. Is the organizational structure conducive to efficient implementation?
- Controlling: Measure progress towards objectives through key performance indicators (KPIs), identify deviations, and make necessary adjustments to the plan or execution strategy.
The Most Important Information:
The most crucial piece of information when determining a strategic plan's effectiveness is the degree to which the organization achieves its stated goals and objectives. This can be measured through a combination of:
- Quantitative measures: These include metrics like revenue growth, market share expansion, cost reduction, or customer satisfaction ratings depending on the specific goals.
- Qualitative measures: These assess the plan's impact on employee morale, brand perception, or overall company culture.
Part II: Contingency Planning for Uber Project (Example)
Project: Develop a new subscription service for frequent Uber riders offering discounted fares and priority access to rides.
Potential Risks:
- Low subscription uptake: Mitigation: Targeted marketing campaigns, tiered subscription plans with varying benefits, free trials.
- Technological challenges during implementation: Mitigation: Rigorous software testing, phased rollout, backup plans for potential glitches.
- Negative customer perception of subscription model: Mitigation: Clear communication of benefits, competitive pricing, easy opt-out options.
Contingency Plan:
Objective 1: Increase ridership by 10% within one year.
- Risk: Low subscription uptake.
- Contingency: Analyze subscription tiers and adjust pricing or benefits to incentivize enrollment. Offer referral programs or limited-time promotions.
Objective 2: Achieve a 70% customer satisfaction rating for the subscription service.
- Risk: Negative customer perception of subscription model.
- Contingency: Implement a robust customer feedback system and address concerns promptly. Offer flexible subscription options with easy cancellation processes.
Presentation Outline (10-12 Slides):
- Title Slide: Project Title, Team Members
- Introduction to Uber
- SWOT Analysis Summary (Strengths, Weaknesses, Opportunities, Threats)
- Market Trend Analysis (Highlight trends relevant to project)
- Project Description: Subscription service details
- Alignment with Organizational Goals (Explain how the project advances Uber's goals)
- Success Measurement: Metrics, timelines, responsible parties
- Project Value: Explain the benefits the project brings to Uber (increased revenue, customer loyalty, etc.)
- Risk Assessment: List potential risks for each objective
- Risk Mitigation Strategies: Explain immediate actions to address risks
- Contingency Plans: Detailed contingency plans for each objective
- Conclusion: Project summary and call to action