Essay Example on Survival in a Changing World: The Power of an Effective Strategic Plan

Introduction

Times changes fast, what worked a couple of years ago well may look obsolete. Industries are out to outdo each other; thus, one found on well-thought strategy can survive. The survival of a firm depends on how it is ready to adapt faster with clear-cue decisions. Among the most important decisions (tools) is an effective strategic plan. An effective strategic plan, therefore, will demonstrate the means of linking up the firm’s set objectives, the way the goals are purposed to be achieved and the means through which they are to be completed.

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Options Analysis for Weather Company

The Weather Company’s strategy is establishing itself; its name evokes its strategy not only by providing a vision on which it seeks to operate but also highlighting its specified goals and steps toward achieving the vision. The company set out a 3-years strategic plan with a view to double its revenue from $600 million in 2013 to over $1 billion or more in 2017 (Hamel & Prahalad, 2018). The Weather Company seeks to do this by leveraging on clear-cut technology and the qualified personnel at its disposal. Ideally, The Weather Company has a clear and quantifiable strategy that will make it easy to communicate and execute plans through the Company’s divisions.

To this end, The Weather Company’s proposed strategy of 2013 mirrors its soulful purpose, mission, vision, and values because it aims at bettering different services it offers to the people. One of the Company’s policies the Company entrenched was the commitment to provide weather forecasting services to the people, which will help them plan their daily activities, including planting seasons (Hamel & Prahalad, 2018). The strategic plan was geared toward developing better ways to oversee the implementation of the needed services through the technological platform. This worked well because the weather services could be brought closer to the customers more conveniently packaged in downloadable online applications.

Feasibility Evaluation

The feasibility and alignment aspects of the strategic plan were made clear with details of how the Company will tackle and accomplish the quest to go digital (Mastop & Faludi, 2007). Digitalization indeed was made the priority due to the growing number of people who used and registered on different online apps. For example, by January 2014, there were over 2 million downloads, all of which had issues with weather elements and information. This gave the Company a head start with promissory notes of better revenues. As such, it was realized that the digital direction was capable of increasing the annual returns because the platform was initially underexploited compared to televisions (Mastop & Faludi, 2007).

To gain upsurge momentum within and without, the Company established and packaged its value for the products to guarantee easy evaluation and feasibility analysis with the primary success factor being an increment in rolling out the digital program (Zsoter, 2016). Typically, the Weather Company was better placed. The Company had to capitalize on both technical expertise and the in-depth know-how about offering Weather Forecasting information to the available digital platforms (Zsoter, 2016). Besides, the integration of personalized digital media such as mobile phones will confer the Company a more considerable impact on their operations to the distribution of better products to the clients.

The Strategic Plan

The proposed strategic plan is indeed kin to a dream the Company currently shares and as depicts the current and future needs of the stakeholders. The Company is presently focused on double growth of revenue, a strategy that is seen as both improving and bettering the operation-cum-customer services offered at the moment (Kanter, 2014). However, The Weather Company faces challenges as far as the essential elements of the strategy are concerned. For example, there is a cultural divide that concerns the digitalization. The operations are shifted on a digital platform, while significant numbers of the mainstream workers are likely to be sacrificed. They will lose their relevance, an aspect that will gradually see the termination of their contracts. Another challenge stems from the wing of the Company’s CEO (Kanter, 2014). It assembles the “star” group that is capitalizing on displaying their perceived unique strengths instead of working, thus risking the implementation of the strategic plan and its apparent success. Additionally, the strategy seems t have captured many goals than it could accomplish at the moment, pitting a weakness (Kanter, 2014). Nonetheless, the fact that the Company established the digital-shift strategy, it is pitted in a better position to perform than its competitors who are yet to embrace the digital shift.

Conclusion

It is commendable when a company realizes its success must be pegged on a clear strategy by and large. The proposed strategy for The Weather Company has the potential to revitalize and revolutionize the way the Company packages and offers weather forecasting to suit the consumers. The shift from the traditional cable television to sophisticated use of mobile phones is a great move that has made the Company to double its revenue and conveniently reach out to the customers. Finally, the focus of the Company needs to address better services that suit all the spheres of life, including lifestyles. This will go along the way not only to offer the products (weather updates) to the consumers but to provide solutions beyond the essential weather information, for instance, safety measures to undertake different types and kinds of weather.

References

Hamel, G., & Prahalad, C. K. (2010). Strategic intent. Harvard Business Press. https://hbr.org/2005/07/strategic-intent

Kanter, R. M. (2014). The Weather Company. https://www.hbs.edu/faculty/pages/item.aspx?num=46052

Mastop, H., & Faludi, A. (2007). Evaluation of strategic plans: the performance principle. Environment and Planning B: Planning and Design, 24(6), 815-832. https://journals.sagepub.com/doi/abs/10.1068/b240815

Zsótér, E. (2006). Recent developments in extreme weather forecasting. ECMWF Newsletter, 107(107), 8-17. https://www.ecmwf.int/sites/default/files/elibrary/2006/17958-recent-developments-extreme-weather-forecasting.pdf