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Strategic Plan: Company of Your ChoiceChoose a company that interest you and document their strategic plan, including:
Vision, mission, objectives, goals, strategies, and measuresAn industry analysisA swot analysis
Identify two IT – related projects that would be consistent with this plan. Recommend one of the two projects for implementation. (Hint: choose a publicly traded company to ensure that you can find sufficient information to develop the strategic plan.)
Procter and Gamble (P&G) Strategic Plan
P&G Vision, Mission, Objectives, Strategies, and Measures
P&G is a multinational publicly traded corporation whose shares are traded in various demutualized stock exchanges across the world. The company is involved in manufacture and circulation consumer packaged products of high quality to consumers across the world. P&G vision is to be the most excellent company in producing consumer services and products and be recognized as the best in that field. The company’s mission is to always provide high value consumer products that will satisfy the needs of the consumers. The chief objective of P&G is to achieve a billion dollar annual profitability for each of its individual brands. The company also looks forward to be the global business leader in production and marketing of consumer goods. P&G has an objective of achieving US$ 10 billion annual production capacity by the year 2017 while ensuring continuous quality and value improvement in output products (Thompson et al, 2013).
P&G have mapped out various measures and strategies to enable it succeed in different business operations. First, the company gives keen focus to its core business operations in order to accelerate growth. The company uses a unique growth strategy known as 40/20/10. This is where the company gives much attention to 40 best business units which account for 50% of sales and 70% profitability. The strategy also involves giving attention to 20 most lucrative innovations and continuous investments in 10 most promising emerging markets. Another strategy is the rationalization of brands. Other than acquiring or launching new brands, P&G focuses on expanding the existing brands. This strategy saves the company from making huge capital investments in promotion of new brands. The company has also launched a productivity program whose aim was to improve the company’s efficiency. This program involves financing growth programs, maximizing the value of consumers through production of high value product (Ahenkora & Peasah, 2011).