Strategic Management Assignment, Research Paper Example

Tollap Corporation is a manufacturing company that locally builds lawn furniture, microwaves, lawn mowers, and ranges. The corporation has been successful in the USA and Canada but still trying to break the international barriers. The objective of Tollap Corporation is to build lawn furniture, microwaves, lawn mowers, and ranges to the local and global market. The goal is to build high quality products while ensuring affordability. The corporation has the desire to enter the global market and deliver their products to the international customers. The strategy ensures the partnership with the clients, the staff, and other parties and respects each party’s interests.

The principles employed in the prioritization of the strategic implementation should consider the laid down plans for the organization (Modern 2007). The main objective would be to lay down a strategic plan that puts into consideration the availability of the company assets in the pursuit of the chosen strategy. The level of commitment in this case would be determined by the availability of the assets to pursue the goal of the strategy. The level of commitment, therefore, serves as the main principle in prioritizing the steps for implementing the strategic objective.

The strength of the company would also determine the priority placed on the steps in the implementation of a strategic objective. The strength of the company is the desired area or field determines the effort put into the process of implementations and the desired objective of the company realized by strengthening the position of the company (Ungson & Wang 2008). The company strength plays an essential role in the realization of a strategic objective of global penetration. The desired results of the strategic objective also play a vital function in the determination of weight placed on a strategy. Where the desired outcome yields a greater success to the company more priority, placed on that objective and vice versa. The strategic objective, therefore, should be result oriented in order to gain priority in its implementation.

The priority, in the implementation of a strategy, in this case, must put into consideration the budget availability of the desired project in order to ensure its success. The perspectives of the employees also play a crucial role in placing priorities in the strategy. The employees of the organization are responsible for the implementation of the strategy, therefore, the success of the strategy mainly relies on the level of commitment put into by the employees. The desires of the customers play an essential role as the objective of the strategy always targets them. A strategy that will increase customer satisfaction and retention is essential in the success of any strategy developed.

It is crucial to put into consideration the desires of the stakeholders in the implementation of strategies as their interests are always the driving force behind the implementation of the strategies. The objectives, which further the interests of the stakeholders, always receive greater attention and, therefore, prioritized first. The planning put into the strategy is also noteworthy in this situation as strategies thoroughly planned always attain the desired objectives than the roughly planned ones. It is imperative, therefore, to plan the strategies in order to gain the priority of implementation.

According to OECD (2001), the purpose of post implementation and feedback mechanisms is to link the outcome of a strategy to the right individuals concerned in order to evaluate the effectiveness of the strategy. The mechanisms used at this stage should ensure that the available data are perfectly comprehensive and accurate in order to obtain reliable reviews. The mechanism suitable in this case includes the use of surveys to evaluate the success or failure of a strategy. OECD (2001) further argues that expert walk troughs and observations play a crucial role in the evaluation mechanisms. The use of questionnaires, interviews, and discussions assist in the collection of feedback about the strategy employed. The mechanisms of post implementation and feedback must be trusted and unbiased in order to develop accurate and appropriate review concerning the strategy.

There are legal and ethical issues that must be addressed and put into consideration in the development and implementation of these strategies. Jennings (2010) provides that these issues should be addressed to avoid barriers in the achievement and implementation of the objectives of the strategy. These issues include the taxation policies of the global market and the trade requirements in the country. The legal issues include the registration requirement policies concerning international trade of export and import and the laws concerning the trade. These issues vary from country to country and, therefore, not practical to have a representative approach. The ethical and cultural aspects of the region must be put into consideration. According to Jennings (2010), the amount of investment required depends on the legal and ethical requirements of that market. Comprehensive knowledge of the legal, as well as the ethical issues in the implementation of a strategy, becomes imperative in ensuring attainment of the strategic objectives. In order to overcome these issues, the corporation needs to take an approach that maintains respect and proper understanding of the market structures.

References

Jennings, M. M. (2010). Business: Its Legal, Ethical, and Global Environment. Cengage Learning.

Morden, T. (2007). Principles of Strategic Management. Ashgate Publishing.

OECD. (2001). Evaluation and Aid Effectiveness No 5 – Evaluation Feedback for Effective Learning and Accountability. OECD Publishing.

Ungson, G. R. & Yim-Yu Wong. (2008). Global strategic management. M.E. Sharpe.