Strategic Planning and Implementation

Paper Summary:

The paper focuses on the Martha Stewart Living Omnimedia company's issue of increased employee turnover. The paper analyzes three strategy options from the standpoints of the attractiveness to stakeholders, stakeholder participation, risk assessment, cost benefit analysis, consistency with organizational values, effects on market position and share and costs and investments. The paper selects the most suitable strategy of investing in human resources by increasing employee wages and offering employees training programs and other personalized incentives. The paper discusses the mission, vision and objectives of the company and reveals what writing about strategic planning and implementation on such a large company taught this writer.

Outline:
Management Strategy
Mission, Vision and Objectives
Learning Experience

From the Paper:

"In order to resolve the problem posed by the increased rate of the employee turnover, MSO should place increased emphasis on the company's internal structure. In this order of ideas, a stronger, more skilled and more committed Human Resource Department should be established. The HR department should have easy access to all workers at all organizational levels and should constantly collaborate with all operational managers. Furthermore, delegates from the personnel department should continuously mingle with the workers in order to identify and better address their concerns."

Sample of Sources Used:

• Grant, R.M., 2007, Contemporary Strategy Analysis: Concepts, Techniques, Applications, 6th Edition, Wiley-Blackwell, 500 pages, ISBN: 1405163088
• Gratton, L., 2000, Putting People at the Heart of Corporate Purpose, 1st Edition, Financial Times Prentice Hall, 256 pages, ISBN: 0273650157
• Kaplan, R.S., Norton, D.P., 2000, The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment, 1st Edition, Harvard Business School Press, 416 pages, ISBN: 1578512508
• 2007, Martha Stewart Living Omnimedia Inc. At A Glance, Forbes, http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=MSO, last accessed on December 4, 2007
• 2007, Martha Stewart Living Omnimedia 2006 Annual Report, Retrieved from http://thomson.mobular.net/thomson/7/2314/2545/ on December 4, 2007

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