LO1: Critically evaluate the application of strategic goals to an organisation.
2024-10-11 13:22:58
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Module code and title:
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BAM7039 Sustainable Business Strategy
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Assignment No. and type:
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CW1: 3000 word - Sustainable strategic plan and reflection
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Assessment weighting:
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100%
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Submission time and date:
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Monday 17th June 2024 @ 14:00
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Target feedback time and date:
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Monday 8th July 2024 (3 weeks post submission)
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Assignment task
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Context:
Your task is to write a 3000 word (+/- 10%) professional business report using relevant literature and theories. This report is intended for the senior management team of the case company, with the aim of offering actionable recommendations for harnessing sustainability to achieve strategic growth within the rapidly evolving global business environment.order now
You are tasked with developing a comprehensive sustainable business strategy for the World Fair Trade Organisation (WFTO).The strategy should align with the principles of environmental, social, and economic sustainability, and consider how to raise awareness of the WFTO activities to engage and inspire young people.Your analysis and recommendations should be evidence-based and consider both internal and external factors.
World Fair Trade Organisation: https://wfto.com/
Report Structure
Introduction to Sustainable Business Strategy
- Brief introduction to the WFTO, the significance of sustainability in business and the importance of WFTO to young people.
Sustainable Business Strategy Frameworks
- Utilise the SAF framework, McKinsey 7S framework, and Porter’s Five Forces framework to analyse the WFTO`s current position and formulate strategic recommendations.
- Contribution to Sustainable Development Goals (SDGs)
- Analyse how the WFTO`s strategy aligns with specific SDGs, emphasizing poverty reduction, gender equality, and responsible consumption.
- Evaluate the potential impact and contribution of the WFTO towards achieving these SDGs.
Sustainable Marketing
- Examine how marketing can support in raising awareness for WFTO and the social and environmental activities to young people.
- Examine market research and academic publications to support understanding into the challenges and opportunities for engaging with young people on sustainability and Fair-Trade initiatives.
- Consider the use of traditional and digital forms of marketing tools for promotion to engage with youth.
Content Creation
- Using Canva.com develop a social media post and caption that can be used to promote and attract awareness to WTFO for the youth population.
- Triple Bottom Line (TBL) Application
- Explore the TBL concept and discuss its relevance to the WFTO.
- Provide strategies for balancing social impact, financial viability, and environmental stewardship within the WFTO`s operations.
- Creating Original Sustainable Strategic Goals
- Develop SMART goals focusing on fair trade certification, supply chain transparency, and community engagement. (Ensure the goals are specific, measurable, achievable, relevant, and time-bound)
Critical Reflection
- Provide a critical analysis and reflection on the applied tools and strategic models within the sustainable strategic plan.
- Reflect on the challenges and opportunities faced by the WFTO in implementing the proposed strategy.
- Conclude with a call to action for the senior management team, highlighting key priorities and next steps.
Submission Guidelines:
- Ensure all submissions adhere to academic integrity standards and include proper citations and references where necessary, using the Harvard referencing system.
- Make sure to include market research and academic sources, supported by theoretical models.
Note: Words used in applied models, tables; charts etc within the main body of the report are NOT included in the report word count.Content placed in the appendices MUST have a clear connection to the main body. Please do not copy and paste large sections of the work of others into the report and/or the appendix section. All direct and indirect quotes must be accompanied by a reference.
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This assignment has been designed to provide you with an opportunity to demonstrate your achievement of the following module learning outcomes:
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LO1: Critically evaluate the application of strategic goals to an organisation.
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LO2: Create a sustainable strategic plan for a given multi-national organisation
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LO3: Critically reflect on the application of tools and models in the sustainable strategic plan
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Practicalities: Referencing, presenting, and submitting your work
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Please see your programme handbook for information on the standard referencing style, presentational requirements and process for submitting your work.
Please reference your work according to the Harvard style as defined in Cite Them Right Online (http://www.citethemrightonline.com). This information is also available in book form: Pears, R. and Shields, G. (2019) Cite them right: the essential reference guide. 11th ed. Basingstoke: Palgrave Macmillan. Copies are available via the University library.
LO1: Critically evaluate the application of strategic goals to an organisation.
At this level of study, you are required to include a minimum of 1 academic reference per 200 words.This is a minimum number and, to achieve a higher grade, you should expect to use an increased number of academic and professional sources, including books, E-books, articles, journals, and reports.
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Confidentiality
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You are expected to take responsibility for maintaining and managing confidentiality issues in your work. You should maintain and respect confidentiality in relation to the protection of personal, technical and/or commercial information of a sensitive nature in your assessed work, whatever the format.
For further information and guidance, please see the relevant section in your programme handbook.
LO2: Create a sustainable strategic plan for a given multi-national organisation
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Please note: This assignment will be marked according to the appropriate Assignment Construction; level of Knowledge and Understanding displayed; Quality of Argument demonstrated; Style and Expression employed; and use of Sources and Referencing.For more samples
our writer response :
Evaluating the application of strategic goals within an organization involves assessing how these goals guide decision-making, resource allocation, and overall performance. Here’s a critical evaluation of this application:
1. Alignment with Vision and Mission
Strategic goals must align with an organization’s vision and mission. When goals are congruent with the overarching purpose, they provide a clear direction that motivates employees and fosters a sense of shared purpose. However, misalignment can lead to confusion, reduced morale, and ineffective resource use. Organizations should regularly review and adjust their goals to ensure they remain relevant and supportive of their mission.
2. SMART Criteria
Strategic goals should ideally follow the SMART criteria: Specific, Measurable, Achievable, Relevant, and Time-bound. This framework helps in clearly defining goals, making them easier to communicate and assess. However, overly rigid adherence to SMART can stifle creativity and innovation. Organizations may need to balance structured goal-setting with flexibility to adapt to changing environments.
3. Resource Allocation
Effective application of strategic goals requires judicious allocation of resources—financial, human, and technological. Strategic goals inform budgeting and investment decisions, guiding where to prioritize resources. However, if resources are not allocated effectively or if there is a lack of clarity in the goals, it can result in wasted efforts and missed opportunities. Regular reviews of resource allocation against strategic priorities are essential.
4. Performance Measurement and Accountability
To ensure that strategic goals are being met, organizations need robust performance measurement systems. Key Performance Indicators (KPIs) can provide quantifiable metrics for tracking progress. However, an overemphasis on metrics may lead to a narrow focus on quantifiable outcomes at the expense of qualitative factors such as employee satisfaction and innovation. A balanced scorecard approach can mitigate this by incorporating diverse performance metrics.
5. Stakeholder Engagement
The application of strategic goals must consider various stakeholders, including employees, customers, investors, and the community. Engaging stakeholders in the goal-setting process can enhance buy-in and alignment. However, conflicting interests among stakeholders can complicate this process. Organizations must navigate these complexities and strive for inclusive dialogue to harmonize goals across different stakeholder groups.
6. Change Management
Strategic goals often necessitate organizational change, which can encounter resistance from employees. Effective change management strategies are critical to facilitate this transition. Communication, training, and leadership involvement play vital roles in mitigating resistance. However, if change initiatives are poorly managed, they can lead to confusion and disengagement, undermining the strategic goals themselves.
7. Flexibility and Adaptation
The dynamic nature of the business environment requires organizations to remain flexible in their approach to strategic goals. Goals should not be set in stone; instead, they must evolve in response to market changes, technological advancements, and competitive pressures. However, frequent changes to goals can create uncertainty and reduce focus. Organizations need to find a balance between adaptability and consistency in their strategic direction.
8. Long-term vs. Short-term Goals
Strategic goals often encompass both long-term aspirations and short-term objectives. While short-term goals can drive immediate results, a disproportionate focus on them may lead to neglect of long-term sustainability. Conversely, an exclusive focus on long-term goals may result in missed opportunities for quick wins. Organizations must integrate both perspectives to ensure balanced growth.
Conclusion
In conclusion, the application of strategic goals is crucial for guiding an organization’s direction and ensuring alignment across various functions. While strategic goals can drive performance and facilitate decision-making, organizations must navigate challenges such as alignment, resource allocation, stakeholder engagement, and change management. A critical evaluation highlights the need for flexibility, balance, and inclusivity to ensure that strategic goals not only enhance operational effectiveness but also foster a sustainable organizational culture.
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