The chosen company is Nutmeg Saving and Investment LTD https://www.nutmeg.com/
1.0 TITLE PAGE
4.0 MAIN BODY
4.1. Strategic Issues – general problems that confront society or the sector
• Issue 1: Point (what is the issue), evidence (data to support your point), explanation (models and theory with application to data)
• Issue 2: Point (what is the issue), evidence (data to support your point), explanation (models and theory with application to data)
Could have 2, 3 or 4 issues (better 2-3). Linked (related) to challenges and solutions
4.2. Challenges – the impact of the general problems on the organisation
• Challenge 1: Point (what is the challenge), evidence (data to support your point), explanation (models and theory with application to data)
• Challenge 2: Point (what is the challenge), evidence (data to support your point), explanation (models and theory with application to data)
The same amount as the issues. Linked (related) to issues and solutions
• A challenge is a problem that directly impacts your company or organisation
• Challenges must be solvable – the organisation can change something to address them
• Lack of necessary work force due to Brexit
• Lack of necessary skills at work due to poor education system
• Closure or failure of high street stores due to growth of online
• Service provision no longer deemed best practice due to updated NICE guidelines
4.3. Solutions – an organisation level solution to the impacts of these challenges. To be something new for the organisation, never used before (acquisition of JP Morgan is not a solution because Nutmeg has already made it.
• Identify and analyse the solutions to the challenges facing your chosen company or service.
• Sub-heading title of solution
• Definition of exactly what the solution is – introduction – a sentence or short paragraph
• Explain and justify the solution including all its various parts using facts, figures, evidence, theories and models from the notes – body of text
• Sum up key points – conclusion
The same amount as the issues and challenges. Linked (related) to issues and challenges
• The solutions for your firm solve the challenges posed by strategic issues
• Strategic issue: Brexit – challenge: labour supply – solution how are we going to solve our labour supply problem? – external
• Strategic issue: Sexism in society – challenge: impact on your firm is – solution how are we going to solve sexism in our firm? – internal
• Strategic issue: Rise of online shopping – challenge: problems with firms own online offer – solution: how are we going to solve our online offer? – competition
• Strategic issue: Change of NICE guidelines on decision making and mental capacity – challenge: impact on organisation – solution: develop best practice to meet change – practice
4.4. Implementation of ONE solution – a plan to put a solution into practice
Implementation Plan Template
Stage 1. State objective – Planned Output
What is the precise objective to be achieved? Needs to be as concrete as possible to say exactly what is to be done.
• This is the concrete output/thing/process that will be achieved at the end of the implementation phase
• It needs to be small – something achievable and concrete
• Strategic issues Brexit – Challenge labour supply – Solution internal skills – Implementation train 50 apprentices in something by sometime
• Strategic issue Sexism in society – Challenge equal opps – Solution assess proportion of female managers – Implementation Recruit five female executives in certain key areas by such a date
• Strategic issue Online shopping – Challenge inadequate online sales – Solution launch new products for online customers – Implementation a definite product of some kind by such a date
• Strategic issue Updated NICE guidelines – Challenge best practice service provision – Solution restructure intervention provision – Implementation a specific intervention for specific population
Stage 2. State required resources – Input
What are the resources, Financial, Physical, Human, Technological required? Where and when is it happening?
• What resources are required?
• Physical – capital, machines, buildings, raw materials, equipment, medications
• Human – numbers of staff, grades and functions
• Technological – existing or new technology – implications for skills base and training
• Where and when is it happening?
• Financial – is the cost of the required resources
Stage 3. State the process stages – Process
What is the sequence of implementation? What happens before, during and after the process? What is the pace and nature of change?
• What is the sequence of implementation?
• Is there a necessary sequence, do certain things have to happen before others or can they occur in any order or simultaneously?
• What are the cost, time and resource constraints?
• What is the beginning, middle and end?
• What happens during the beginning, middle and end?
• What is the pace and nature of change?
Stage 4. State Actual Outcome Parameters – Actual Output
When is the process complete? When is the end arrived at? How will it be known? How will it be measured? What constitutes success? What is stakeholder evaluation?
• When is the process complete?
• When is the end arrived at?
• How will it be known?
• How will it be measured?
• What constitutes success?
• What is stakeholder evaluation?
• What are the KPIs?
• Will be the measures be quantitative or qualitative?
• What exactly will they be?
• Explain how the company or service could practically implement one solution.
• Lack of necessary work force – solution – recruitment of alternative work force – establish a recruitment office in Dublin
• Lack of necessary skills at work – provision of training – introduce an apprenticeship in electrical engineering
• Closure or failure of high street stores – development of own online provision – launch an app that previews next season’s fashion lines
• NICE guidelines impact service provision practice –restructure intervention provision – a specific intervention for specific population
• Small, achievable, with a particular functional theory; HR, Operations, Marketing etc.
Note: Issue 1 to be liked to challenge 1 and solution 1, Issue 2 to be liked to challenge 2 and solution 2 etc.
One of the following sources to be used: