Strategic planning - Essay Example

Task Strategic Planning An Executive Summary The seventeen year, old Rudd Corporation faces challenges of decline in the profitit accrues yearly. The corporation has approximately 440 employees. The low profits associated with the corporation can be associated to the poor machine maintenance, and the high level of accidents happening inside the corporation. Rudd loses an estimated amount of $106,322.26 annually. The departments of the corporation are welding, painting and shipping.Assessments of past record and goalsIn spite of Rudd Corporation being a small corporation, it has managed to employ an employee’s number of four hundred and forty.

A firm aspiring to venture into the manufacturing industry usually takes considerable time before turning into a manufacturing firm. Rudd Corporation has been in the industry for only seventeen years, yet it is already considered as manufacturing firm.Objectives‘Management by Objectives’ is a term that refers to the process of stating and defining the objectives of an organization to the management and employees to get the bet out of the organization. Rudd Corporation can put into plan strategies of using technological ladders as short term objective to tackle the situation inside the corporation.

The objectives for using technological ladders in the corporation are to lessen the number of slips, trips and falls in the organization. Secondly, the corporation uses technological ladders to simplify the ease of doing a task in the corporation and increase their profit limits. Preparing a research budget for Rudd Corporation entails the overview of the materials required. Rudd Corporation requires buying electronic ladders. Rudd requires a business plan to help in the running of its daily activities which operate automatically.

The corporation should put a side the continuance fees annually to repair the automatic ladders used in the corporation. The maintenance of the ladders will prevent against unnecessary break downs and injuries in the corporation.A strategic plan provides the establishment and structure for a business plan. Rudd’s corporation tactical plan should relate to the duration or purpose of the business. An example is that Rudd’s management should clearly state if the corporation is short or long term venture, and put appropriate strategies to match the nature of the corporation.

Tactical plans should be undertaken by Rudd’s management on the employees required in the organization. The corporation should employ skilled and physically fit employees, since the nature of work in the corporation is demanding (Olsen, 384). The goals placed on every employee by the corporation should also be realistic and achievable by the Rudd’s employees. Rudd’s management should review their aims and objectives to the organization occasionally to match with changing work environments.

Objective planningRudd requires a business plan to help in the running of its daily activities. Rudd management should know the peak seasons where the corporation accrues much of its profits from, and take advantage of his fact. The corporation should write clear objective to match with the goals and the mission of the corporation. The threats facing the corporation should be highlighted, and appropriate objectives put applied to drive the corporation forward (Olsen, 384).Return on investment analysis‘Return on investment’ analysis is fiscal metrics used in measuring the consequences of a business investment, resolutions or actions.

The return on investment analysis for Rudd Corporation on its investment is of a positive slope. The purchasing of the automatic or electric ladder by the corporation increases the profits margins of the corporation, since there will be ease and speed in accomplishing the task. The rate of injuries among the employees is also reduced considerably reducing the cost of injuries compensation.ConclusionRudd cooperation requires a stable, efficient management to enable it to recover from the losses caused by poor management, such as poor machine maintenance.

Strategic plans and objectives should be put in place and followed to the latter, to see the business through many challenges posed by the cooperation resources.Work CitedOlsen, Erica G. Strategic Planning Kit for Dummies. Indianapolis, IN: Wiley Pubishing, Inc, 2011. Internet resource.