Using your approved strategic plan from the Wk 2 – Strategic Plan Research assignment, complete the following:
Create a 5- to 7- slide Microsoft® PowerPoint® presentation, with speaker notes and visuals on each slide, that will sell your identified improvements to the strategic plan, based on your Wk 4 analysis.
Include the following:
- Summarize the threats and challenges you have identified within the current strategic plan.
- Determine how to execute the strategic initiatives in order to address the threats and challenges.
- Explain proposed process improvements.
- Assess whether additional resources are needed.
- Describe how resources should be used in the application of the strategic plan.
- Utilize KPIs to justify the financial investment and to measure the success of the proposed improvements to the strategic plan.
- Justify your recommendations based on anticipated Return on Investment (ROI).
Mike Solis
STR/581
06/12/2023
Purpose of the strategic plan
The main aim of this strategic plan is to offer a clear path for the company’s priorities, way forward, and actions for the next five years. It focuses on providing the organization with the appropriate guidelines to help in accomplishing its vision, mission, and goals, while also dealing with the challenges, and opportunities presented in the external environment.
Key objectives
One of NELLCO’s key objectives is to focus on the expansion of its influence and rick within the legal library community. This will be done by partnering with others, increasing memberships, and building a reputable name as a major resource for law libraries. This plan also seeks to outline approaches to enhance the efficiency of operations, streamline work processes, and improve service delivery to member libraries. This can entail the implementation of technology, appropriate resource allocation, as well as standardization of best practices. The other objective is to focus on professional empowerment and development of its staff members, and libraries. This will be accomplished via training programs, knowledge-sharing techniques, and the developing of a culture of continuous growth and learning. Moreover, this plan will identify ways to improve the relevance and quality of the product and services offered by NELLCO.
Key performance indicators (KPIs)
To gauge performance, the percentage increase in the membership libraries over time will be measured to monitor and weigh the ability of the organization to attract and maintain new members. In addition, routine surveys will be carried out to evaluate the levels of satisfaction of member libraries and monitor improvements or areas that need attention. Moreover, the cost structure of the organization will be monitored and analyzed to allow comparison of expenses and revenues generated, and thus ensure the resources are optimally allocated. Furthermore, the use and implementation rates of resources and services from NELLCO by member libraries will be measured to check the value and relevance offered (Kerzner, 2019).
Recommendations
To support the set objectives and the overall strategic plan, I would recommend the addition of environmental sustainability practices, as well as CSR initiatives (Sardana et al., 2020). I would also recommend the development of a detailed communication plan to routinely update member libraries, and other relevant stakeholders on the organization's accomplishments, progress, and the effect of its initiatives. This may be inclusive of newsletters, annual reports, and engagement via social media platforms (Percy, 2023). Besides, a proper risk management plan would be essential in identifying potential threats, challenges, or threats that may arise during the adoption of the strategic plan. Lastly, I would recommend the design of a comprehensive emergency response plan to handle any internal or external problems that may occur.
References
Kerzner, H. (2019). Using the project management maturity model: strategic planning for project management. John Wiley & Sons.
Percy, L. (2023). Strategic integrated marketing communications. Taylor & Francis.
Sardana, D., Gupta, N., Kumar, V., & Terziovski, M. (2020). CSR ‘sustainability practices and firm performance in an emerging economy. Journal of Cleaner Production, 258, 120766.