Essay About Current Strategic Plan And Best Practices

Problem Solution: Harrison-Keyes Inc
Join now to read essay Problem Solution: Harrison-Keyes Inc
Problem Solution: Harrison-Keyes Inc.
Harrison-Keys finds its current strategic plan failing and has hired a new CEO to better align corporate strategy to new projects in efforts to revitalize the company. “…organizations that have a coherent link of projects to strategy have more cooperation across the organization, perform better on projects, and have fewer projects” (Gray & Larson, 2006, pg 1). This paper will explore how Harrison-Keyes should strategic implement and align “best practices” with critical success factors. Furthermore, this paper will thoroughly examine how the implementation planning addresses shortfalls, risk factors, and potential negative consequences.

Describe the Situation
As there has been a recent change of CEOs, the off-shore outsourcing company has literally been washed away, company morale is down, and the organization as a whole is in a disarray. Needing structure, a “Best Practice” method is suggested. “Best Practice is a management idea which asserts that there is a technique, method, process, activity, incentive or reward that is more effective at delivering a particular outcome than any other technique, method, process, etc” (wikipedia.com)”. In H-K’s scenario, Best Practice is a useful concept that will assist the new CEO to achieve his desired outcome through the use of proper processes, efficient checks, and testing. The idea is to develop a standard way of doing things that coincide with the organizational objectives.

Issue and Opportunity Identification
“In reviewing everything that’s gone on, I’d say that there was no oversight planning and definitely no disaster planning. I simply can’t understand all of these omissions; it‘s just sloppy work.” William Guardo, newly appointed H-K CEO

The following is a list of strategic implementation concepts that could have an impact on the current and future performance of Harrison-Keyes. The concepts listed reflect both an issue and or opportunity the Harrison-Keyes is presented with:

Issues
Opportunities
Reference to Specific
Course Concept
The newly appointed CEO is not in favor of the e-book initiatives and has allotted Jan Peters one month to come up with a strategic plan to change his mind

As a 2 year veteran at H-K, Peters, Senior VP of Business Development and Head of the Implementation Team, is eager to be promoted. This opportunity is what he has been waiting for, however, if the strategic plan does little to impress the new CEO, the opportunity may backfire for career jump, and most importantly for the future H-K’s role in e-publishing.

Project management- Progress and Performance Measurement and Evaluation. In this chapter, Peters should benefit from creating a cost/schedule model; (1)Measures accomplishments against plan and deliverables (2)Provides a method for tracking directly to a problem work package and organization unit responsible (3)Alerts all stakeholders to early identification of problems, and allows for quick, proactive corrective action (4)Improves communication because all stakeholders are using the same database (5)Keeps customer informed of progress, and encourages customer confidence that the money spent is resulting in the expected progress. (Gray & Larson, 2006, ch.13)

Lack of a company-wide implementation strategy for its new initiative.
The implementation plan will need to permeate all parts of the organization. This creates an opportunity for setting short term wins, developing a rewards system and gaining company wide consensus on the strategy.

The relationship between strategic management and project management: there is a lack of understanding and consensus on strategy among top management and middle-level (functional) managers who independently implement the strategy; They refer to this as the “implementation gap”. (Gray & Larson, 2006)

Current strategic management process lacks self analysis and benchmarking.
Harrison-Keyes has an opportunity to better define its strategic plan. Performing a situation analysis, self-evaluation and competitor analysis: both internal and external will help H-K to understand its current industry ranking and where it wants to be in the future.

“…the strategic management process applies to identifying and prioritizing projects aligned to an organization’s strategic plan” (simulation).
“…a typical strategic process includes