Implementation, Strategic Controls, and Contingency Plans Essay Sample
- Word count: 1479
- Category: Strategy
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Dollar General is one of the United States leading small-box-retailer and has grown tremendously with over 75 years of retail experience. Adding continued success to the organization is imperative to incorporate an implementation, strategic controls, and contingency plans to add value and structure to the business. This paper is structured to suggest options for implementation and strategic controls plans of action for contingency plans. Include key success factors of budget, forecast financials, and a break-even chart. Also, included is a risk management and contingency plan for identified risk for the Dollar General Corporation. Implementation Plan
“Strategic implementation is the action phase after the formulation of the strategy. Leader links the strategy to the practice and the personnel who are going to implement it by communicating effectively how the organization benefits from the implementation.” In my plan, I offer the introduction of a new exclusive product sports line by a designer of apparel and shoes. The main objectives are to incorporate broader business goals in the organization and to communicate with all levels of the organization the objectives are in line to better serve others as stated in the mission plan of the organization. The objectives are as follows:
(1) Incorporating a name brand sports designer in the new Maine store of the stores as part of the genetic strategy. (2) The store will be a focal point to the members and management for future presence in growth in the North East (3) Communicate with sales and marketing on the new exclusive product line (4) Forecast the performance of the new product line as value to the company (5) Monitor the function of overseeing financial operations in the finance department Functional Tactics
The goal of implementing functional tactics is to align tactics strategically to comply with companies mission. It includes implementing short-term strategies that will offer a gateway to the grand strategy of growth. The suggested strategy for this paper will be to implement perishable items in our new store in the state of Maine. The Maine store only offers home goods and refrigerated and frozen groceries. The Dollar General organization will use this store as the focal point for expanding in the Northeast and surveying other areas in the state for future grown.
The organizations must fully support the strategy of the business for strategic goals, innovation, and growth. Consumers of Dollar General Stores most value the convenient location of the stores, product differentiation and offer a shopping experience with a large variety of merchandise. The specialty of the Dollar General store is the location and products offered customer base and atmosphere. It is important for the organization to contain an in-depth communication with stakeholders how the implementation of the new stores will add value and profit to the Dollar General Corporation. Ensure stakeholders understand the value at all levels to in investing in the strategy. The resources for the new implementation will benefit from equity from stores we plan to sell. The implementation strategy is not simply based on market conditions, for the market condition are flexible, but fundamental strategies to continue growth in the brand of Dollar General Stores. Action Items
The goal of the implementation is to launch a new sports product line and grow market share by 10% per year for the next five years. The product sports line expansion will be convenient since the average price of all the items will be priced range of $10 to $20. Also, the reputable brand and quality of the new product line will not lose focus of affordability for our customers. We will position the new line of apparel and shoes while still offering great values and affordability to our customers. Doing so will bring availability to sports apparel conveniently in small-box retail stores. This organic growth plan is scheduled to launch at the beginning of May when sporting activities are more prevalent in families. This ideology will create a better position for the Dollar General brand and satisfy customer needs for quality products.
The sales team will be required to conduct market research and give an expected time of delivery and set up for the merchandise to arrive in stores. The Dollar General cooperation ensures that a well-established training plan in all departments is developed and implemented in line with the strategic plan. Training will assess the needs of the implementation plan and the organization as a whole. Evaluation of the training method will be used for effectiveness and suggestions for improved practices that is beneficial to the organization. It will be placed a high on the list of priorities for resource allocation. At the operational level, the managers may be requested to provide new concepts on the quality of training and educating for the new implementation plan. Milestones and Deadlines
Tracking the sales volume is important in measuring the performance of the implementation strategy. A project has a much better chance of success if someone has documented, in detail, the project scope, system requirements, budget, schedule, business case, and technical feasibility before requesting funding. Adler, M. S. (2000). Performance monitoring of the project activities will run parallel with all parties involved in the implementation. Team leads will report the monitoring of the implementation. They will be responsible for the following: • Organize and planning team meetings and agendas
• Keeping the efforts of the departments on track
• Provide status updates
• Identifying and addressing group dynamic with other team leads
• Serving as a point-of-contact between other teams and other areas of the organization
• Problem solving
• Administrative functions and keeping team records readily available for organization head managers.
The purchasing and ordering of apparel will be in the scope of our current ordering functions of highly overseeing the requirements of the Dollar General comprehensive direct import purchasing guidelines. The vendors are expected to conduct themselves in compliance with American laws and code of business conduct. The organization will provide guidelines to the vendors regarding their responsibility in the vendor communication plan. Unannounced audits will be performed as identified in the vendor communication plan. Packaging, shipping, delivery guidelines are provided to vendors and store managers as part of the organization communications plan. Execution of the new product launch in unison of all departments of finance, merchandise, marketing, global supply chain, store operation, and general counsel or the strategy, will fail. Other risk management features include inventory controls, such as RFID merchandise link the tracking progress with accounting. It will include the inventories bill of lading, invoice and shipping ID. Screening of entry document to ensure the customs forms, bill of lading, invoices, and packing list are three-way matched by the accounting department for compliance with laws. Contingency Plan for Identified Risks
By following basic strategies, such as building strategic alliances, developing fallbacks and contingencies before they are needed, and constantly managing expectations, one may successfully pilot an imaging project to success. Adler, M. S. (2000). The contingency planning committee spearheaded by the General Counsel of Dollar General and senior managers responsible for operation areas such as legal, sales, and administration and operations. It is the responsibility of management to provide guidance aligned with the strategic plan and to monitor the organization’s contingency plan.
An internal audit committee within the organization will monitor the progress of the implementation plan throughout stages plan. An analysis of the possible impact of risks and serious threats to the organization departments will be evaluated. Mandatory reports from the function managers to identify possible threats in their unit area will be required to senior management for review. The managers will also hold responsibility for delegating backups, reducing risk, and completing contingency report and the level of impact that the threat, risk, or disaster will effect. The following report issued as a template to complete the contingency plan. The plan is scheduled for testing and evaluation during the first stages of implementation. Conclusion
The goal of the implementation strategy is to increase customer base, offer product differentiation by offered a different merchandise format, and reintroduce our presence in the marketplace while increasing sales and profits. The marketing department will strive in introducing the new sports product line by huge promotional and marketing campaign. During the first year, the campaign is not expected to affect sales and is estimated to achieve a break-even analysis. In the second year, it is estimated a ten percent increase to begin the growth in revenue.
Dollar General Stores (2013). Profile and Mission Retrieved from http://www.dollargeneral.com Pearce, J. A. & Robinson, R. B. (2013). Strategic Management: Planning for Domestic and Global Competition (13th ed). New York, NY: McGraw Hill. Author unknown, (2013) Leadership Role in Strategic Implementation: Pakistan & Gulf Economist, 32(50), 20-21. Retrieved from http://search.proquest.com/docview/1471980749?accountid=458 Adler, M. S. (2000). Avoiding the perils of imaging system implementations. Information Management Journal, 34(4), 4-22. Retrieved from http://search.proquest.com/docview/227755439?accountid=35812