Hoorah Corporation Strategic Plan Presentation

Strategic Plan
Technology Department
Purpose of Goals
❑ Goals offer a roadmap to an organization to follow.
❑ They are also a broad statements that emphasize on desired results.
❑ The department’s goals include:
❑ Design a low-cost chip to produce and sell to different companies within 18
months.
❑ Source for new donors
❑ Change attitude towards STEM subjects in school going kids in the community.
How Departmental Goals
Align with Organizational
Goals
Departmental Goal 1 Aligned with Org. Goal
Organizational Goal:
Department Goal:
Diversity and grow additional revenue
streams
Design a low-cost chip to produce and sell to
different companies within 18 months.
Diversification in other fields under the
company to increase revenue streams.
Departmental Goal 2 Aligned with Org. Goal
Organizational Goal:
Department Goal:
Ensure financial stability while maintaining
profitability
Budgetary compliance
Departmental Goal 3 Aligned with Org. Goal
Organizational Goal:
Department Goal:
Corporate social responsibility
Offer mentorship programs to students
around the company
How Tactical Steps Align to
Departmental Goals
Tactical Steps aligned to Dept. Goal #1
Department Goal:
Design a low-cost chip to produce and sell to
different companies within 18 months.
❑ Assess different distribution channels and
methods
❑ Look for potential customers
❑ Evaluate the average time used to design
and create the product.
❑ Assess competitors’ prices and the cost of
producing the product.
Tactical Steps aligned to Dept. Goal #2
Department Goal:
❑ Cut on costs
Budgetary compliance.
❑ Reduce wastage
❑ Enhance resource sharing
Tactical Steps aligned to Dept. Goal #3
Department Goal:
❑ Hold forums on women in IT
Offer mentorship in technology around the
community
❑ Collaborate with IT clubs in schools
❑ Open department doors for tours from
schools
How to Measure Our Tactical
Steps
Dept. Goal 1 with Measurement
Design a low-cost chip to produce and sell to
different companies within 18 months.
❑ The department will research competitors’
prices and suggest an appropriate price
for the chip.
❑ The department will assess different
distribution ways and required minerals
for the chip.
❑ The department will have a cheap design
and a prototype in 18 months.
Dept. Goal 2 with Measurement
Budgetary compliance
❑ Operations without budgetary deficit
❑ Reduced operating costs
Dept. Goal 3 with Measurement
Offer mentorship in technology around the
community
❑ Forums held on quarterly basis
❑ Number and quality of collaborations in
schools
❑ Uptake of IT courses in tertiary institutions
by the mentored students
Conceptual Gap Analysis
What’s Missing/Roadblocks
❑ One worker is very resistant to change (Southern New Hampshire
University, 2021).
❑ Five workers are newly hired college students
❑ Industrial challenges with issues in compliance
❑ The current coronavirus pandemic
References
● Cothran, H. M., & Wysocki, A. F. (2005). Developing SMART goals for your
organization. EDIS, 2005(14).
● Southern New Hampshire University. (2021). Hoorah strategic
organizational goals. Retrieved from
https://learn.snhu.edu/d2l/login?target=%2fcontent%2fenforced%2f92237
5-MGT-30159-XK221-OL-DACCFA.21DA10%2fcourse_documents%2fHoorah+Strategic+Organizational+
Goals.pdf%3fou%3d922375&sessionExpired=0
● (2022). Retrieved 10 February 2022, from https://www.osha.gov/laws-regs.
● Yiyuan, C. (2019). Land outsourcing and labour contracting: Labour
management in China’s capitalist farms. Journal Of Agrarian Change, 20(2),
238-254. https://doi.org/10.1111/joac.12353
Questions?
Hoorah Strategic Organizational Goals
Ensure financial stability while maintaining profitability
• Financial stability means that the company is resistant to economic shocks and is fit to smoothly
fulfill its basic functions: the intermediation of financial funds, management of risks such as zero
tolerance for errors, and the arrangement of payments (payroll, suppliers, etc.). The system is
stable enough to not need assistance from external institutions, such as the government.
•
To be successful and maintain profitability (revenue after expenses are deducted) in a business,
it is necessary to survive and remain attractive to customers as well as investors. This shows the
importance of managing costs, increasing productivity, reducing waste, reducing overhead
expenses, purchasing more effectively, removing nonessential tasks, etc. Does each of the
components impacting profitability contribute to that profitability, and if not, should it be
included in the strategic plan?
Diversify and grow additional revenue streams
• To diversify means to invest in unrelated businesses that have different end customers but yet
are within the company. Diversification can involve a strategy in which part of the business is
not currently operating, thus creating a new product for a new market, for example. You
diversify to grow additional revenue streams that have the potential to align with the growth
strategy. It may be important to diversify in the company, as it has an opportunity to reduce risk
and yet maximize return by investing in different areas. However, it does not guarantee against
loss, so diversification is the most important component of reaching long-range financial goals,
while minimizing risks. For example, the company may open new channels in which to sell their
products or new partnerships that could increase the chance of long-term success and increase
long-term profits.
Ensure compliance with local, state, and federal regulations
• Compliance is a multifaceted and often complex matter. It requires a well-thought-out plan with
the right policies and procedures in place to ensure requirements are met in a timely manner as
well as a pristine record-keeping system to document those procedures. One important area is
auditing expenses. Spending is getting simpler and while that is a good thing for employees who
are empowered, it is getting more difficult for companies to control. Another important area is
human resources. Failure to comply with even a single human resource policy can land the
company in a legal mess. A key aspect of staying out of a legal mess it to keep up with changing
ADA provisions; stay current on what constitutes ADA compliance in the workplace.
Corporate social responsibility (increase community outreach)
• This is the idea that businesses should balance profit-making activities with activities that
benefit society. It involves developing a positive relationship to the community in which the
business operates. This means ensuring the company conducts its business in a way that is
ethical and takes into account its social, economic, and environmental impact and also considers
human rights. It can involve a range of activities, such as working in partnership with local
communities such as Habitat for Humanity. There are usually four types of corporate social
responsibility: environmental sustainability initiatives, direct philanthropic giving, ethical
business practices, and economic responsibility.
Technology Department Information
You report to the vice president of technology, who ultimately reports to the CEO of the
company. Your department has been tasked with designing and delivering the working type prototype
of the key component of electric cars, which are to roll off the assembly line in 24 months.
Your department has 12 people, which include four rocket scientists who previously worked for
NASA designing the chips for the rocket engines. Two of your department members are scheduled to
retire in 9–12 months, and one of those two has an attitude of coasting through to retirement. In
addition there are three employees who do not accept change and are grumpy and exhibit that
grumpiness throughout the workday to whoever will listen or is within hearing distance. Three of the
total 12 are new university graduates with newly earned PhDs and are eager and willing to show their
intelligence and only want to work with the four rocket scientists, as they do not want to be bothered
with team members who are coasting or negative.
The company is considering a few key diversification possibilities. One of these is creating a lowcost chip to manufacture and sell to higher-end competitors. In addition, it is considering purchasing
mines and distribution methods for the minerals required for the microchip. This way, it would have
more power over the raw materials needed in its new endeavors.
The budget given to you for your tasks is nonnegotiable, and the directive given to you by the VP
of technology is that you will come in on or below budget and yet deliver the design and prototype on
time. You are to ensure through your department strategic plan that the budget covers all areas
pertaining to your tasks; and yet you have the flexibility to move the budget monies within your
department as you see fit.
In addition, the company expects your department, like all departments in the company, to be a
good citizen in the community, and it has asked you to identify in your strategic plan how you plan to
accomplish this. For example, your team may have the desire to partner with Habitat for Humanity and
build/repair homes in the community. Another possibility is for your team to donate its time and talent
to tutoring students in the fields of science and math at the local elementary schools. This should be
zero-sum to your department budget.
Competency
In this project, you will demonstrate your mastery of the following
competency:
•
Develop a departmental strategic plan that aligns to an organization’s
strategic objectives
Scenario
You work for Hoorah Corporation, which produces autonomous electric cars. It
has committed to both internal and external stakeholders that the first
autonomous electric car will come off the assembly line by the end of the next
24 months. Your department is to design and deliver a working prototype of
the key component of electric cars, a microchip, or as they say in your
industry, the “brains” of the autonomous car.
As the key member of the technology department, you have been directed to
align your departmental strategic goals to the organizational goals. The
projected timeline is that mass production of the cars will begin in 24 months
and that your microchip will be completed in 18 months. You are tasked with
presenting your plan to Hoorah Corporation’s board of directors in three
months, bearing in mind the organizational goal of a 24-month time frame for
the first cars coming off the production line.
Your specific task is to create a presentation to highlight key elements of your
departmental strategic plan. Include speaker notes that detail your thinking, so
the board of directors can clearly see why they should believe and trust in
your presented plan.
Directions
In your presentation, the board of directors would like to see your
departmental strategic goals and how they align to organizational goals, as
well as the tactical steps you will take to achieve those goals. In addition, they
want to see that you’ve amended your initial concept based on the findings
from your completed conceptual gap analysis.
•
To orient the board of directors to your plan, explain the purpose of
your departmental strategic goals. In your explanation, consider the
following:
o What is the reason the department exists?
o How would you articulate the intent of your department’s
strategic plan?
o What are your department’s core capabilities?
o How does your department create value for the organization?
•
Create your goals and align them to the organization’s goals: Decide
which two or three of the organization’s goals relate best to your
department. Then create one or more goals that align to that
organizational goal. You do not need to include all organization goals,
and one organizational goal may have more than one departmental
goal aligned with it.
o For example, if one organizational goal is to reach 25% market
share, what goal in your departmental strategic plan relates to
that organization goal?
o
In addition, if an organizational goal is to make the competition
irrelevant, what goal in your departmental strategic plan relates to
that organization goal?
•
Explain what tactical action steps you will take to align to the
organizational strategic plan. As you create these steps, consider the
following:
o What specific actions does your department need to complete in
order to achieve organizational goals?
o What steps would you need to take in order to ensure the
deliverables are on time?
o What does the organization expect of your department in order to
reach the organizational goals?
•
Develop how you will measure goal attainment for each of your
departmental strategic goals.
o How will you know if your tactical action steps will achieve what
you expect?
o What is the best method or metric to hold your department
accountable to its strategic goals?
•
Perform a conceptual gap analysis to identify the opportunities and
needs of the department with regard to the departmental strategic
goals. There is no need to create a graph. As you perform this analysis,
consider the following:
o Look at the departmental plan and organizational goals:
▪ What is missing in order for the department to meet its
obligations?
▪ What are some roadblocks that may keep you from
reaching your plan?

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