Essays on Strategic Planning for Myers Case Study

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The paper 'Strategic Planning for Myers " is a good example of a management case study. Basically, a strategic business framework for organisation’ s success and planning success together with action plans, goals, and strategies interconnect and build upon one another so as to generate suitable steps in order to accomplish the company’ s vision and mission as well as to live its values. Organizations require action plans, strategies, and goals so as to cascade the mission and engage every employee’ s talent, and as evidenced in the report, organizations are developed with the profitability goal by means of mental processes.

In essence, organisational strategies, as well as tactical actions, are formulated with the prudence of certain operational goals, like return on investments, market share, incomes, as well as cash flow. In consequence, organizational control mainly involves evaluating as well as reviewing the general performance as compared to the operations, strategies, tactical actions utilised in defining the organization itself. The Myers tactical actions should be developed based on current strategies and goals so as to establish certain strategic goals in the general strategic plan context.

Without a doubt, organizational control attributed to strategic planning is fundamentally a benchmark, steering the company toward optimum operation levels. For Myers, strategic planning offers a general strategic direction to the organization’ s management and offers a particular direction to areas such as marketing strategy, financial strategy, HR strategy, and organizational development strategy in order to become successful. Introduction Strategic planning as evidenced by Myers case is beneficial to the whole company, and not for specific departments. The report highlights why strategic goals and plan should guide what the company should produce and how to become successful in the marketplace.

Basically, strategic planning is a process intended for yielding a corporate strategic plan, which according to Bryson (2011, p. 362) is strategies statement created to impact the organisation’ s long term performance. The report gives details why a business needs a roadmap (strategic plan) so as to become successful. In this case, the strategic plan is crucial because it assists in providing focus and direction for every worker, and it points to particular outcomes that can be realised and create actions to achieve them. The purpose of the report is to offer a critical analysis of Myers Company, which is the largest department store group in Australia in terms of a strategic goal, strategic plan, as well as tactical actions.

The report briefly identifies Myers’ current situation, which will entail the company’ s Mission Statement. Planning as it will be evidenced in the report is crucial to ensuring success, and is also valuable to different work units in the organization in aligning themselves with the strategic goals. Current Situation Myers is undoubtedly a successful company in Australia with over 60 stores across Australia, which are supplemented by the company’ s reputable brand as well as reinforced by the lately enriched digital, online, as well as mobile platforms.

The company has over 54,000 shareholders, 12,500 team members, as well as more than 1,200 suppliers internationally in addition to scores of communities that the company engages with daily (Myer, 2015). Being a reputable employer and with a long history of local community engagement as well as philanthropy, Myers is without a doubt an established business that value success and its brand.

Its success has been attributed to its main unceasing strategic planning, and incorporation of new technology to enhance product delivery (Myer, 2015). The company mission statement states that the company key objective is to offer the customer the highest product and service standard and make certain that it constantly meet and surpass your customer's shopping expectations.

References

Bryson, J.M., 2011. Strategic Planning for Public and Nonprofit Organizations: A Guide to Strengthening and Sustaining Organizational Achievement. New York: John Wiley & Sons.

Dunn, M. & Davis, S., 2004. Creating the brand‐driven business: it’s the CEO who must lead the way. Handbook of Business Strategy, vol. 5, no. 1, pp.243 - 248.

Gottliebsen, R., 2013. New Myer strategies revolutionise retailing. [Online] Available at: HYPERLINK "http://www.theaustralian.com.au/business/business-spectator/new-myer-strategies-revolutionise-retailing/story-fng7vg0p-1226600131239" http://www.theaustralian.com.au/business/business-spectator/new-myer-strategies-revolutionise-retailing/story-fng7vg0p-1226600131239 [Accessed 26 April 2015].

Heskett, J., 2010. ow Do You Weigh Strategy, Execution, and Culture in an Organization’s Success? [Online] Available at: HYPERLINK "http://hbswk.hbs.edu/item/6433.html" http://hbswk.hbs.edu/item/6433.html [Accessed 26 April 2015].

Myer, 2015. Company Profile. [Online] Available at: HYPERLINK "http://investor.myer.com.au/Investor-Centre/" http://investor.myer.com.au/Investor-Centre/ [Accessed 26 April 2015].

Porter, M.E. & Heppelmann, J.E., 2014. How Smart, Connected Products Are Transforming Competition. [Online] Available at: HYPERLINK "https://hbr.org/2014/11/how-smart-connected-products-are-transforming-competition" https://hbr.org/2014/11/how-smart-connected-products-are-transforming-competition [Accessed 26 April 2015].

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