Framework for Executing Strategy

5 Pages   |   752 Words

Apple Inc

Create a framework for executing strategy for your company. Write a 1½- to 2-page draft business brief that include the following.

a.    Write a strategic vision statement with a plan for communicating to employees.

Strategic Vision Statement

“We want to be the largest partner throughout the world for our consumers’ total electronic needs while keeping our other stakeholders strongly connected to the organization.”

Such a vision statement that we have created will only in papers unless it is strongly communicated to the internal customers, that is, the employees of Apple Inc. All new inductees to the organization have to go through an orientation period. The vision statement should be clearly communicated to new employees as a part of their training or orientation programme (ErdoÄŸan & Orhan, 2014). It is at this time that prevailing confusions regarding the vision statement can be clarified.

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Secondly, there should be competitions relating to the company’s vision statement. Such sessions need to be organized by the Human Resource function at all company levels. In addition, the vision statement should be displayed at all convenient locations in the organization. It should become our employees’ identify rather than just a piece of paper displayed everywhere. The internal and external documents of the company, such as the Annual Report, should contain the company’s vision statement so that a correct message is passed on to both internal and external stakeholders.
 
 
  1. Determine financial and strategic objectives.
The financial and strategic objectives will derive from our company’s strategic vision statement (Yozgat & KarataÅŸ, 2011). The financial objectives are as follow:
Financial Objectives
1. To achieve 25% return on our investments in the next three years. This primarily includes our long-term investments.
 2. To increase our research and development expenditure by 5 percent after every two years. This would require a major overhauling of our facility.
3. Acquire a major supplier of our electronic components and parts in a backward integration arrangement to have full control over our important electronic supplies.
Strategic Objectives
1. Develop comprehensive systems for customer feedback and involve our customer base in our research and development initiatives.
2. Develop engagement programmes and serve as a helping hand for the underprivileged of the society in line with our company’s vision statement.
3. Come up with at least one breakthrough electronic product at the beginning of every New Year. For this purpose, all our internal stakeholders need to be on their toes.
The three strategic objectives outlined above are a natural fall out of our company’s vision statement. To be the number one partner in electronic needs of our consumers, the involvement of the consumers in the form of feedback on our products is essential (Cheung, 2011). Secondly, research and development (R & D) is the core of our business operations while being a part of the electronics and gadgets industry that is transforming rapidly.
  1. Describe the strategic intent.
Strategic Intent: “In one year’s time, we will be launching a separate website for our consumer engagement programme and launching loyalty programmes for our consumer base. In the same period, we will be expanding the size of our main manufacturing facility to utilize the idle machine time more productively.”
The strategic intent, as described above, is a consistency of our strategic vision, as well as financial and strategic objectives. The strategic intent is a shorter run as compared to the vision statement or strategic objectives (Johnson & Martin, 2014). Regular customer feedback and collaboration with R & D will ensure a regular supply of desirable products in these tough times of competition. We must acknowledge the contribution of our consumers by developing incentive-based loyalty programmes for the purchase of our products. Lastly, besides the consumers, our other important stakeholders such as the employees, shareholders, and public at large need to be considered while prepare the strategic intent. 

Bibliography

Cheung, M. F. (2011). Customer Involvement And Perceptions: The Moderating Role Of Customer Co-production. Journal Of Retailing And Consumer Services , 18 (4), 271-277.
ErdoÄŸan, D., & Orhan, G. (2014). Adopting Mission And Vision Statements By Employees: The Case Of TAV Airports. Procedia - Social And Behavioral Sciences , 150, 251-262.
Johnson, J. L., & Martin, K. D. (2014). Strategic Intent And Performance: The Role Of Resource Allocation Decisions. Journal Of Business Research , 67 (11), 2393-2402.
Yozgat, U., & KarataÅŸ, N. (2011). Going Green Of Mission And Vision Statements: Ethical, Social, And Environmental Concerns Across Organizations. Procedia - Social And Behavioral Sciences , 24, 1359-1366.

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