Strategic Management for the Events Industry

Strategic Management for the Events Industry Order Description Task Brief 2 – Coursework Module Title: Strategic Management for the events industry Assessment Title: Strategic plan Individual/Group: Individual Weighting: 80% Submission Date: WK 37 Assignment in context Johnson, Scholes & Whittington (2005, p.9) state that “Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its alignment of resources and competences”. If we adopt this viewpoint then strategy is arguably the most important activity of a practising event manager. Therefore, if an event organisation want to prosper it will be faced with the challenges of strategic development, planning and successful implementation. Instructions To Students For Submission Of This Coursework Using this definition as a framing point, develop a strategic plan (3,000 word count +/-10%) for the event organisation chosen for Task 1. Your strategic plan must set out a coherent strategic plan for your chosen organisation. You should make use of an appendix that supplies background information about your proposed plan, and could also include further evidence not discussed within assignment 1. Your plan should cover the following areas:- Section 1 – Overview (500 words) The strategic plan needs to develop a coherent ‘voice’ so all organisational stakeholders will embrace the proposed new strategic direction:- • A brief overview of the specific issues facing the organisation as identified by the environmental audit • Consider the organisations history and culture and how this will affect future strategy choices • A clear discussion of the mission/aims/objectives of your strategic plan Section 2 – Strategic options (1,750 words) Strategic choices are concerned with decisions about the organisation’s future and the way in which it needs to respond to the many pressures and influences found within the analysis of the strategic environment. You need to examine and analyse the following:- • The possible directions and methods for strategy development to achieve competitive advantage (strategic methods are the means by which a strategy can be pursued) • Using success criteria, determine the suitability, acceptability and feasibility of your strategic option. This evaluation should assess the overall appropriateness of your proposed strategic direction and methods. • Section 3 – Disseminating the strategy (750 words) Understanding the position of the organisation and considering the strategic choices open to it are of little value unless the preferred strategies can be turned into strategic action. Evaluate how the strategic plan will be implemented throughout the organisation ensuring that all stakeholders are clear about the plan and the action they must take. This will take the form of a Balanced Scorecard clearly identifying the actions and Key performance indicators for success. Remember the key components of a plan are who, what, where, when and how! Possible Contents of appendix • Aims and objectives of the organisation • Evidence to support the need for a new strategic plan • Breakdown of product/services the organisation offers • A brief overview of the resources of the organisation e.g., financial, human, physical • A brief analysis of the organisations key stakeholders Submission requirements Students are to submit a hard -copy of their assignment to SHIP, in week 37. Details will be within your assessment scheduler. Sheffield Business School operates a deadline time of 3:30pm for all coursework submissions via the Helpdesk, unless an alternative deadline time has been set by the Module Leader. Students must also put their work through Turnitin on the Strategic Management Blackboard site prior to submission. Students must submit a hardcopy of the Turnitin Report with their assignment. If you are experiencing any problems with the submission of this new piece of work place get in contact a student support officer (Helen Tompkin - 0114 2252936/Anne Henshaw - 0114 2252936) as soon as possible. Weighted Assessment Criteria: Your task will be graded against the following weighted criteria; Task 2 – Strategic plan • Understanding and analysis of strategic concepts and theories as applied to the company (40%) • Evidence of the use of strategic management tools and techniques (30%) • Presentation of Report Assignment and data analysis (20%) • Knowledge of sector /industry background and contemporary issues (10%) Study Skills Support Study skills sessions have been built into the seminar programme and students will be supported in the final stages of this work via "drop-in" sessions.