Strategic Plan for IKEA
Week 5 – Final Project
Strategic Plan
Prior to completing this assignment, review your prior research and course submissions related to the
company you selected for research in Week 2’s Environmental Scanning interactive assignment.
Ensure that you have incorporated the feedback you received from your previous submissions. In your
Final Project this week, you will pull the various elements you’ve created together to aid your creation of a Strategic Plan. From the perspective of an executive with the firm, your supervisor has tasked you with creating a strategic plan to grow the business over the next three years using this Strategic Plan Template . Continue to access the Mergent Ashford University Library online database which offers company financials, descriptions, history, property, subsidiaries, officers, and directors and the Business Insights database. (View the Mergent tipsheet and Business Insights tipsheet Tips
document for suggested methods of searching Ashford University Library databases generally as well as specific advice for searching these two databases).
- Your strategic plan must be future oriented and must
Describe the company, the company’s history and its 4Ps (Product, Price, Place, and Promotion). - Examine the company’s mission statement and assess its impact on the organization’s activities.
- Explain the current situation of the organization in the market (industry, market, and general
environment analysis). - Add your SWOT analysis (strengths, weaknesses, opportunities, and threats) of your chosen company here. Evaluate areas that offer opportunities.
- Choose three or four areas from your SWOT analysis and assess why the areas you have chosen are essential to your strategic plan
- Summarize the results of your Environmental Scan and Porter’s 5 Forces.
- Evaluate the degree to which they aid in conceptualizing the company’s competitive position in its marketplace.
- Assess the company’s international performance in light of Cultural Barriers, Monetary Exchange
Rates, and Political Instability. - Assess the financial performance and condition of the Operational budget: Research and assess the company’s operational budget.
- Assess the performance in terms of key performance indicators.
- In your analysis, be sure to include profitability ratios relevant to your analysis.
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