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Business Policy was my capstone course during final year of my undergrad program. I have learn many things about organizations, their business policy, method and solution how to improve any business organization. Business Policy mainly about an organization's Strategic Analysis and Action. We have collaborated case studies various companies and organizations in a team environment. we worked on Strategic problems, Identify strategic issues, organized set of concepts and procedure how to improve and find solution of a certain situation, made choices, implemented decisions and presented the solution as a real life consulting experience. As an example, we have analyzed a selected company's:
Current Profile
Analyzed Current Environment
Current Strategy and Strategy Component
Key Success Factors and analyzed Current Performance
Assess current Business, Management Preferences and gap analysis
Change Agenda and conditions
Established Guideline for action plan
Implementation and recommendation
Company's profile mainly about when and how founded the company. what kind of company and location. about company's profitability and amount of employees and how big the company etc.
Company's Environment is very important to find Business strategy issues. Its is about Political, social, economic and technology. Also, an organization's environment effected by new entrant, Bargaining power of supplier, Bargaining power of buyer, competitions and substitutes in market place.
Company's Current strategy is about an organization's Mission, vision, goal and core activities. Also, Current strategy components are: Product Market focus and Value proposition.
An organization's main key factors are their resources, capabilities and good relations with other business. Also, Organization Health and Operations performances are key factors.
An organization's Health is more important than organization's operations. an organization's health are qualitative like relationship within employee's and good relationship with other businesses. on the other hand Operation performances are quantitative like their finance and profitability. Even organization's operating performance is good though if an organization's health not satisfactory the company suppose to be in trouble conditions.
Assess Current business and management preference analyze to find out company has any gap between their management preference and their resource and capability. So, it is very important to asses current business situation and management preference or goal company willing to achieve. Assess current business is collecting or listing company's all resources, including their good will in market and their any brand good reputation etc. Also, Assess current business, listing all capability company currently have, for example, they are capable efficient inventory management, ability to quick service and customize their products according to their customers. Management preferences actually, how to continue improve company's businesses. such as, Increase revenue, new product invention for a competitive market environment, make an activities or adding value to the employees for organization's good relation that enthusiast employee work efficiently.
accordingly, after recognized company's current business resource and capabilities, and management preferences, it is necessary to observe any gap and analyze whether company strategically fit to achieve this goals or preferences. For an example, company's gap could not able to produce their product in their market demand, not able to bring more customers and declining sales, these are could be gap that need to improve to achieve company's preferences.
when resource and capability meet management preferences, organization strategy and environment and these are all related variable to make any change to an organization. Another comprehensive Framework we have learned is called The Diamond -E framework. It help business analyst to help identify and relate all of these strategic variable.
The arrow showing in both direction in this diagram because ether way could be variable influence each other. For example any resource could give a strategic plan for a product differentiation at the same way, an organization strategy could be build a new resource and capability. All other variables are influence each other to make a decision.
After analysis all other constrains management preference, organization strategy, environment, resource and gap closing, finally, business analyst need to work on starting conditions and change agenda in their Implementation and recommendation strategy. In this stage, this is also important to analyze or identify urgency of change. there are three kind of urgency condition. these are a) anticipatory b) reactive c) crisis change. As a team work we analyzed an imaginary solution for Sonic corporation, and found out it's urgency is in reactive condition which is pressure of current environment management making preference. below I drew a picture using MS Visio to describe all the degree of urgency pressure to make a decision. Sonic Corporation using as an example. In this picture showing this company need a reactive change and doing moderate good.
After Identify the Urgency stage, accordingly business analyst make priority to take action plan and implementation. we used an action plan for sonic corporation project below I attaching the action plan for an example:
Before making action plan it is also necessary to identify company's readiness for any change. After implementation and following a guideline and an action plan a company or organization suppose to be in their desired place and going to a right direction accordingly. For example, Increase existing market sales, create new capabilities and resources, and positive influence on environment to get more clients or customers.
reference: Strategic Analysis and Action by Mary M. Crossan, Michale J. Rouse, Joseph N.Fry and J. Petter Killing seventh Edition.
Acknowledgements:
My gratitude to our professor Dr. Miles first of all, to teaches us in a real life and hand on experience to analysis various different organization and give us a platform to present and share our implementation and recommendation. Also, provide us opportunity to exchange our opinion and others point of view and perspective. I feel fortunate to part of this Busi 4940 course and completed successfully.
Also, I am thankful to our wonderful team, we organized, collaborated and work together and presented our solution. I have learn many things from our team. without team it wouldn't be possible such a extensive learning about Business policy.
In addition, I am grateful to my beautiful supportive family, my wonderful kids and my loving husband. still remembering one night we had team meeting for our final presentation at willis library in our UNT campus. My husband and my two little kids came to pick me up at 11:30 pm still I had to finishing up our collaboration. Though, they were understood I am doing something important, patiently wait and enjoyed food from food car in-front of our curry building. I am fortunate to have such a loving and understanding husband. Thank you!
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