In: Operations Management
Nike Inc. - Write a 500-750-word analysis of the significance of Space, Grand, and QSP Matrices regarding their relevance for strategic planning. Describe the key information for each and how information from each will influence recommendations for strategy selection, planning, and implementation. Without prematurely determining and formalizing strategic goals and objectives, begin thinking about possible strategies to capitalize and add value to the organization based on the analysis of this information. Be sure to cite three to five relevant and credible sources in support of your content. Use only sources found at the GCU Library, corporate websites, or those provided in Topic Materials.
Nike Inc :
Strategic Planning - Strategic planning the process of documenting and making the direction of the organization. In the process analysis of the current condition and assessing that where the business is going.
By the strategic planning organization can plan better option or solution for the future growth.
Metric in the strategic Planning – In other word metric can be understand by the indicators, which can be use to measure the performance of the objective or goals.
Types of Metrics –
· Input Metrics- Input metrics is the resources used make the output product.
This measure the consumption of resources used like, time, Money
Example – 10 K dollar investment in machine at time to reach the plant is 3 month which can improves the productivity of machine shop. Which can the related to the delivery metric or objective.
· Process Metrics- Process Metrics indicates how well the process, procedures or operation is
Working. Example – For manufacturing shop line the process indicator / Matric are rejection PPM, Average/ Shift (Productivity), Setup change time, Machine up time etc.
· Out Put Metrics- Out put metrics indicate process against achieving the intended results.
This Matric indicate how the organization is performing and the management can rate their success accordingly.
For example – Sales increase, Net profit, Customer satisfaction.
Metrics measurements type-
· Quantitative Metrics Measurement – This type of measurement of metrics measure in the form of quantity like, Percentage, Decimal. Example – 1 % process rejection
· Qualitative Metrics Measurement - This type of measurement used the scale likes high low, good, satisfactory, best.
· Proxy Metrics Measurement – This does not directly relate with the goals and objectives but this is important to achieve the main objective or goal, this is indirectly supporting to the goal or objective. Proxy metric also called indirect metrics. Example – Machine uptime (maintenance Department) goal is supporting to achieve the Rejection targets.
Metrics information supporting to achieve the organization Goal-
The information of metrics is very important in the strategic planning. Metrics help measure the objective at task. In the strategic process this is crucial because measurement helps hoe process is made and where we should focus more. Metrics help the monitoring the process of strategy because of periodic comparison of target matrix with actual performance. Most important that metrics help assess the strategy is on path or not. If in case the metrics performance not meet the target that management can work on the rout cause and the corrective action to get the objective back on the track. By Metrics management can access the process continuously which can prevent the big failure at the end of the year.
And the corrective action taken according to the metrics improves the organization performance.
Yes, and the based on the metrics information possible strategy to capitalized and value to the organization.
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