Management class assignment Example | Topics and Well Written Essays - 750 words

Management class - Assignment Example They maximize their efficiency and quality by assessing their position in the value network. Since the value chain structure of such universities is purely online learning, they generate their revenue by focusing on the market segment. A strategy is a plan or technique aimed at achieving predetermined results. Strategies are aimed at finding solutions to current and future problems. On the other hand, strategic planning involves the techniques employed by an organization to ensure that its strategies succeed. A Strategic plan is a carefully written blue print about how an organization plans to increase efficiency and productivity in future. The efficacy of a strategic plan can determine the level of success of an organization. Therefore, organizations ought to draft ‘SMART’ objectives that tally with their missions, values system, and visions. A strategic plan projects into the future of accompany for a period of between five to ten years. Strategic planning enables a company or organization to predict its future by working towards certain objectives thereby eliminating any element of deviating from the organization goals. Balanced scorecard will help the shoe company to implement strategies that will bring financial rewards to the shoe company. Focusing on the company’s vision and strategy will have positive impact on its financial performance by improving its internal efficiency and customer satisfaction. In essence, a balanced score card outlines the factors and processes that matter most as far as the performance of the organization is concerned. Fives forces are the forces within the market that will affect the competitiveness of the athletic footwear industry. The power of buyers/customers plays an important role in determining the quality, type, and price of the shoes by the company. It is so because buyers can opt to choose one brand instead of the other or one company over