Bectnon Dickinson Case
Q1) what role should SOF process play in strategic, operational and financial planning at Becton Dickinson?
The SOF (strategic, operational, Financial) Process has a major role to play in all the 3 areas i.e. – strategic, Financial, Planning.
Role of SOF in the Strategic areas.-
The SOF should support the vision, mission, and the values of Becton Dickinson.
The SOF should be able to sense new business opportunities within the business environment as it is mentioned in the case the Becton Dickinson has a history of growing through acquisitions of various medical supply companies.
The SOF should be helpful for the company for making organizational plans.
SOF should act as a bridge between the present and the future (forecasting) of the organization.
SOF should be able to provide necessary training and awareness to the people involved in the planning process.
Lastly, SOF should be capable of quantifying the results at the end of every period so as to measure the results against the benchmarks set by the organization.
Role of SOF in Operational area.
SOF should be able to standardize all the business activites.
SOF should be able to manage and integrate the efforts of all the areas towards achieving a common organizational goal.
Role of SOF in the area of Finance.
SOF should be able to measure the performance of different areas.
SOF should act as a tool in making financial projections.
SOF should ensure proper allocation and usage of funds by different departments.
SOF should be able to make the financial documents of the company comparable with other companies in the companies.
The main role of the SOF is to integrate the processes taking place in all the 3 departments. So, Becton Dickinson can implement a SOF which can perform all the all the above mentioned functions.
Q2) which element of 1993 SOF process would you keep and which element you eliminate