2024 – Strategic plans are focused on current and future company goals therefore changes

 

Strategic plans are focused on current and future company goals,  therefore changes in the environment must be detected and monitored.  Changes in the environment that impinge on the company’s strategic plan  are known as external triggers and triggers are paired with plans to  successfully deal with them. These paired actions are known as  contingency plans. What qualities make a future issue a “trigger”?

As an example, consider you are on the strategic planning team for a  soft drink company. A merger of two major competitors next year would  constitute a future trigger. For this discussion, consider the  Environmental Scan and SWOT analysis you conducted in Week 2. Formulate a  trigger/contingency pair in the form of a three-part sentence similar  to the example in the textbook. Examine it in terms of the three  guidelines that good contingency plans should follow.

Post a summary of your selected company and risks that you perceive  based on your prior Environmental Scan and SWOT analysis. State the  three-sentence trigger/contingency pair and justify your choice of  contingency plan using information from the week’s readings and/or other  scholarly or credible resources, using the Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table for guidance.

(NOTE: Incorporate the feedback you receive from your instructor and  save your work. It will be part of your Strategic Plan Final Project for  this course).

The selected company is   

The HR Department,

Boston Whaler,

100 Whaler Way

Edgewater, FL 32141