|1.||The strategic options for CT Ltd||1|
|2.||A five year strategic plan for CT Ltd||5|
|3.||An implementation plan||8|
For implementing automated production (market penetration) strategy, the company should achieve its pre-recession market share, profitability and amount of loyal customers. CT Ltd resources target is to stop employees’ redundancies by increasing production and profitability. The preferred timescale for both strategies would be quarterly and yearly, as they would illustrate full statistical analysis of number of sales, employees’ levels and retention, market share and financial situation. Additionally the company needs to distribute its production on time and delivery time in order to increase its market share.
It is recommended for Ct Ltd to monitor and evaluate the strategies through key indicators like revenue, number of new customers and amount of sales. The most suitable measurements for the company are number of new customers, market share, percentage margin, total new product sales, staff numbers, turnovers, returns on assets, equity and investment, employee morale and customer satisfaction. In order to monitor the strategic options CT Ltd could have regular updates and meetings regarding the company’s progress on a monthly or quarterly basis. Page (2010) recommends to that the company should expand employees’ skills through training and recruitment, as it would highlight competencies required by the strategic plan. Correctly implemented target sales tools would communicate CT Ltd’s values and strategy to the marketplace and therefore could create positive feedback from customers. In the conclusion, it is recommended to not only monitor employees’ performance but reward them as well. Motivated and positive staff would help CT Ltd to achieve its goals and strategy.
- Business Planning
- Intercultural (Business) Communication
- Management Information Systems for Planning and Control in Multinational Companies
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