2.2 Strategic Plan Draft

Running Head: STRATEGIC PLANNING 1

Strategic Planning

Michael Braden

Trevecca Nazarene University

MOL 5900: Strategic Planning for Servant Leaders

Dr. Angela Talley

Monday, March 15, 2021

STRATEGIC PLANNING 2

Abstract:

Coca Cola is one of the world’s biggest beverage company. It is the supplier of non-alcoholic

drinks all over the world. There has been a growing trend seen in Coca Cola with the revenues

rising to $4 billion in 2017. The company’s goal is to strengthen its brands, distribution, and global

reach to remain one of the biggest companies (Council, 2012).

Strategic planning is a set of objectives to create the business’s strategies, implementing them and

making the company’s overall long-term plans to achieve success. There is the integration of the

organization’s different departments, including finance, HR, marketing, and supply chain activities.

It is also known as strategic management. There is always a need for a strategic plan to set the

objectives which the team will achieve.

There is a need for proper planning to derive the strategic plan. Before the plan is settled, there is a

proper need for planning and deciding how to achieve the plan’s goals—some of the options used

by the managers in Coca Cola (Schools, 2012).

STRATEGIC PLANNING 3

1. Strategy Formulation

First of all, there is a need to formulate the proper strategy. There will be proper internal and

external audit done. By doing the audit, it will be clearer about the SWOT analysis of Coca Coola,

which includes the strengths, weakness, opportunities and threats of the company. Once they are

known, the company will know about their weaknesses and how to overcoat them. With the

opportunities, they can also tap the emerging markets once the analysis is done. The managers will

be able to understand better the markets and plan they should focus on. Once the analysis is done,

it will become easier for the managers to allocate the resources properly (Alomi et al., 2015).

2. Strategy Implementation

Once the strategy is made for Coca Cola, there is a need to establish the goals and the targets,

which will help later. In this way, it will be easier to turn the strategy into actions. This depends on

the managers on how well they communicate the employees with the strategy they have chosen to

be put into action.

3. Strategy Evaluation

The third step in strategic planning is strategy evaluation. Once the strategy has been implanted,

there is a constant need to evaluate the employees’ performance to see if they are on the right track.

There are three of the activities that play an important part in the evaluation phase. They include

internal and external reviewing, performance measurement and other steps to make the strategy

more effective and efficient.

STRATEGIC PLANNING 4

Purpose of Strategic Planning:

The main purpose of the strategic plans is to make the organization’s goals easily achieved. It

helps the employees and manager to set the ambitions of the organization. Coca Colas main

purpose was to connect in the three main areas, including

 Mission- Purpose of the business

 Vision- Telling what Coca Cola wants to achieve

 plan- What you want to achieve

There is another purpose of strategic planning, which is to minimize the risks of Coca-cola so that

they can operate easily. When proper strategic planning is done, it removes the uncertainty, risks

involved, and how to minimize the potential risks (Cornut et al., 2012).

Provides clarity and direction to Coca Cola:

It provides the organization with the proper focus, direction and clarity to achieve the objectives. It

plays a great role in connecting the company’s vision and mission by keeping in mind three

questions that include the mission vision and plan.

STRATEGIC PLANNING 5

If there are a company’s proper mission and vision, it will help it easier to articulate them to

achieve success clearly. With the plan’s help, there will be little confusion, and the risks will also

be minimized, thus yielding greater profits for the organization (Al‐Turki, 2011).

The strategic plan leads to organization alignment:

The use of the proper strategic plan will keep all the employees on track. The employees’

objectives will be aligned with the organization’s goals as the employees will have a clear

understanding. Furthermore, it also leads to open and creative ideas between the different

employees for the betterment of the organization. When there is a proper strategic plan, the

employees are not only on the same page, but they can also make proper decisions that are in the

organization’s best interests and the employees.

Strategic Plan communicates the message to others:

With the help of the strategic plan, the manager can know the direction and the tactics that need to

be achieved by the company. He can then communicate these to the employees to derive good

results. It serves as a great tool for communicating the plans and tactics in the long and short-run

(Hahn & Powers, 2013).

References:

Al‐Turki, U. (2011). A framework for strategic planning in maintenance. Journal of Quality in Maintenance Engineering.

STRATEGIC PLANNING 6

Alomi, Y., Alghamdi, S., & Alattyh, R. (2015). The strategic plan of the general administration of pharmaceutical care at the ministry of health in Saudi Arabia 2012–2022. J Pharm Pharm Sci, 1(13), 1-8.

Cornut, F., Giroux, H., & Langley, A. (2012). The strategic plan as a genre. Discourse & Communication, 6(1), 21-54.

Council, I. E. L. (2012). Strategic plan. Illinois Early Learning Council.

Hahn, W., & Powers, T. L. (2013). Strategic plan quality, implementation capability, and firm performance. Electronic Business, 12(10).