Assignment Steps Resources: Ch. 5, 6, and 7 of Management: A Practical Introduct

Question

Assignment Steps Resources: Ch. 5, 6, and 7 of Management: A Practical Introduction; SWOT analysis for the organization used in Week 3; company strategic plan; video creator such as Kizoa Movie Maker. Scenario: You have been promoted to senior level manager of a company with low employee morale and decreased productivity. You have been tasked with developing a strategic plan for the workforce to present to the CEO and other members of the leadership team. Develop a 1-year strategic plan of action for Raytheon. Include plans for any additional staffing and the proposed budget for your plan. Modify your SWOT analysis, if necessary, for your presentation. Create a 10- to 12-slide PowerPoint® presentation including the following: Explain rationale for plan Discuss SWOT of organization Summarize one year plan of action Flowchart of one year plan Give an overview of Budget for plan Evaluate the potential benefit of the plan Write conclusion Develop a 700-word summary for the Executive team. Append your budget and SWOT analysis to the plan. Create a 2- to 3-minute motivational video for the workforce highlighting your leadership style as an asset to the organization and the workforce and your assigned task. Format your assignment consistent with APA guidelines. Explained the rationale for the strategic plan Examined the results of the internal environmental scan findings in the analysis Discussed the findings of the scans as they relate to relevant research. Summarized a one-year plan of action based for the organization based on findings. Included a flow chart of the plan Provided an overview of the potential budget for the plan Evaluated the potential benefit of the plan The paper is 700 words in length

Raytheon SWOT Analysis

Strengths

Research & Development:

            Raytheon is one of the largest manufacturers that produces weapons and profitable electronics for the military worldwide. Its research and development are a strong area that Raytheon possess. Raytheon’s careful and precise outline helps them make high-tech weapons and other electrical equipment.

Strong Management Team:

            Raytheon has a dedicated management team that leads and enforces the standards to make the organization operate successfully. The organization offers many different types of training to its employees to encourage employee motivation, so they can achieve more. Raytheon functions successfully because of its highly-skilled promoters, directors, and administrators that let the company function successfully with its firm.

Strong Free Cash Flow:

Raytheon company maintains a high free cash flow within their organization. This high free cash flow gives Raytheon the advantage to produce new products for them to have new projects.

Weaknesses

Low Morale:

Raytheon employees are not too happy about working with machines doing all the work. With the machines doing all the work affects the employee’s time and pay. This causes the employees to have low morale. The lack of support from the workers can cause Raytheon to fail.

Difficult Agreements:

Another weakness for Raytheon is having trouble getting agreements with other popular contractors. They failed at expanding their business as a main contractor for different equipment and electronics.

Different work culture:

Due to having different type of employees, Raytheon is not very effective at joining in organizations with diverse work views, customs, and attitudes. They are not successful at merging businesses with dissimilar work culture.

Opportunities

Opening New Markets:

            Raytheon has developed a new market in the scientific field. They have tested aerospace electronics to be successful. This have given Raytheon the opportunity to open new markets with military government.

Government Agreement to open new markets:

The approval of new high-tech policies and free trade agreement with the government gave Raytheon a chance to enter a new developing market.

Lower shipping prices:

Reducing the price of transporting their products can lower the cost of Raytheon goods, therefore, benefiting a chance to the organization. This could either increase its profitability or give their customers benefits to take advantage of the market share.

Threats

Competitors:

            Raytheon has a broad range of different threats. The main threats towards Raytheon is competition growing from other industries. Other competitors such as North Grumman, Boeing Company., and Alliant Tech systems are constantly expanding in a lot of the same areas. They are developing a lot of high-tech electronics similar or better than Raytheon that are causing their profits to increase and affecting Raytheon profits.

Different Laws:

Raytheon company is affected by laws in different countries. Every country has their own laws and policies that are in place and that can tremendously affect a business. If the company does not go by these laws, their organization could get fined.

Highly Profitable Goods:

Raytheon profitability could get impacted by requests of high demands of valuable products. Their profitability could get impacted during the busy season by unexpecting events. This could cause the company profitability to dramatically decrease or increase.

Explanation / Answer

SWOT Analysis of Ratheon

The biggest strength of Raytheon is its expertise and established brand name in the field of manufacturing weapons and profitable electronics for the military worldwide. Its strong expertise in Research and Developmenthas helped the company toachieve such a great success.Dedicated management team has also helped the company to operate successfully.

The weakness of the company lies in the low morale of the company as most of the work is being done through machines. There are difficult agreements to be signed with the contractors.Company's diversified work culture is also an issue.

Company is opening up many new avenues in the form of aerospace testing, government agreement toopen new markets and low shipping prices which reduce the price of the finished goods.

The threat lies in the growing competition from the industries.It has also got affected by different laws and the impact on company's profitability as the demand for highly valuable goods have increased.

Strategic Plan for the Workforce

As the biggest weakness of the company lies in low employee morale and decreased productivity of the labor force.This is due to the fact that employees are not ready to accept the majority of the work performed by machines.This affects the time and pay of the employees. Compnay should conduct few sessions on the importance of 'Moving from the manual to the Automated technology'. These sessions should lay emphasis on how the manual workforce and the macines should work together to improve the productivity of the company. Manual workforce and macines should go hand in hand together.

There should also be sessions on motivational talks by effective leaders to boost up the morale of the employees so that they can work towards achieving the goal of the organization.

Company should also conduct sessions and train the employees well in order to overcome the problems which have arisen due to diverisified culture in the organization. Sessions on 'Hoe to overcome the cross cultural problems' would have been of great help.

Budget Plan

The budget allocated for all the motivational sessions of one week would be close to 4.5 lakhs. Guest speakers would come and take the sessions.

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