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Organization's Strategic Plan
The strategic goal of any organization should comply with its particular level. It can be achieved through the creation of a detailed implementation plan, which will help the company to follow its vision, mission, and values. ABC Education Group, Inc. is an educational facility that is privately owned and has a considerable number of employees. The strategic plan will ensure that all staff members are educated on their role and actions they need to undertake for the success of the company. Communication is essential in developing an implementation plan since due to the broad disbursement of employees within ABC Education Group across the world, there is a need to ensure that the communication system is comprehensive and no employee is left behind. It will create synergy within the organization and ensure that all employees are working to achieve a common goal. Effective change and risk management strategies with the strategic plan should ensure that there is continuity in the enrollment of students and their retention for the sustainability of the business institution and revenue generation for efficiency improvement, because it is important for the organization to make profits to allow its operations.
Strategic Plan
Employees of the company will be assigned duties that they will need to perform, which will be crucial towards innovation and technological advancement. It will ensure that they are committed towards the course. Employees will have to suggest what to be done to ensure that the ABC Education system is different and students are getting unique services as compared to those offered by competitors in the sector. A deadline for achieving the strategic plan will be set to ensure that no time is wasted and that the program is completed as planned. The end of 2017 will be a stipulated fiscal year, and the plan will be split into smaller sections that will need to be achieved by the set deadline for each department, which will be headed by the departmental head. The company intends to have a new curriculum and a revised program of education before the end of 2017, which will ensure that more diverse clients will be attracted to the training facility.
Effective Change Management Strategies
Organizational changes cannot be avoided since the customer base of the center is expected to grow, and clients demands keep changing . Middle managers of the company ought to support the leadership for any strategic initiative to be successful. It is necessary to monitor the progress of the management. Strategic objectives must be achieved within the specified time, and decision-makers should bear accountability for any decision that they make. Decisions must be made within specified time limits, and every individual in the company should think long-term what the company wants to achieve. It will be paramount for directors to ensure that they review the performance of the team steering the whole process. In the environment where operations are altered, managers of various departments will be updated of their functions and different roles that they need to undertake for process progress.
Forecasting Impending Risks in the Organization
Since ABC Education Group invests in the differentiation of the entire education system and innovation, the cost of operations may increase due to the introduction of a new curriculum and innovation at the end of the fiscal year 2017. However, the generation of more revenue may start streaming faster, and shareholders shares in the company will grow. Risks can be identified through brainstorming groups, interviews, surveys, SWOT analysis, and looking into the past accident reports of the facility.
Risk Management and Contingency Plans
Risks are analyzed after being identified, and any probability and effects of such risks are to be measured to project the extent that is expected in the project . The main risk for this strategic plan is that clients may not react well to the innovation and the change in the curriculum by the company because of competition in the industry, depending on what competitors offer. Since ABC Education does not offer college and university studies, there may be more alternatives to the institution. The risk can be alleviated by ensuring that product testing is conducted, and risk mitigation enables to prevent the innovation from being viewed negatively by students.
Another risk that ABC Education Group may face is the school losing financial aid eligibility, which may lead to the loss of revenue and change the strategic plan. It can be prevented by ensuring that auditors conduct monitoring and evaluation to ensure that there is compliance with the federal state loan regulation and that there are no chances of being penalized by education regulators . This risk can be reduced further by ensuring that most students can pay for their tuition without necessarily depending on federal state loans.
Conclusion
ABC Education Group, Inc. should ensure that all plans are reviewed and updated to anticipate possible risks. A plan evaluation after the risk has happened is necessary to ensure that the risk is handled in the proper way and any adjustments are made. The decision of the board of directors and continuous monitoring are crucial for the success of the strategic plan of the company. Customers should be informed of any improvements or changes that are going to take place to avoid resistance. Risks should be handled with care, and a clear contingency program should be designed to enhance successful strategic plan implementation. This article was written by Jeff Kip . More my works you can see here essays lab
