AC 4.1 Propose a suitable structure for a strategy plan that ensures appropriate participation from all stakeholders of an organization
The propose strategy structure entails the elements of a strategic plan for the planning process at Grace Kennedy Foods. It reviews the vision, mission, values and objectives and lay out its proposed strategies and goals (Planware.org, 2016). In furtherance, the Board of Directors, Executive Members, Managers, Employees and Customers will be a part of this strategic plan. In addition, a Stakeholder Participation Matrix will be used to ensure full stakeholders participation (Lienert, n.d.).
The GraceKennedy Limited is a public company that has a Group of subsidiaries operating mainly in the food and the financial…show more content… “Grace Kennedy strategies are outlined and are guided by the Balanced Score Card” as indicated by (Cummings, 2016) during an interview. The Balance Score Card “is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals” (Balancedscorecard.org, 2015 par 1). Furthermore, this paper will assess a GAP Analysis of Grace Kennedy Foods current situation versus the future state of the company.
“Gap Analysis is a method used extensively in the process of designing the strategy of an organization (Kyriazoglou,…show more content… The advantages are as follows:
It is a viable tool that is used to provide stakeholders wealth of knowledge and information into a preliminary strategy plan.
It provides a clear participation of each stakeholder’s involvement.
It enables the planning of stakeholder involvement to minimize failures of implementation.
It encourages and accommodates planning.
The disadvantages are as follows:
Requires expertise to convert stakeholders existing information into effective decisions.
The risk of misinterpretation.
It is time consuming.
Grace Kennedy Foods should view the Participation Matrix as a vital tool to develop appropriate ways to get stakeholders involve into the planning process. This includes meetings, presentations, seminars and workshops. It is a viable tool that is used for the planning of stakeholders’ involvement and will be employed by Grace Kennedy Foods to reap the benefits of the planning and implementation