SWOT Analysis of McDonalds Paper Assignment 4: Strategy Formulation. Prepare and submit a Strategy Formulation document that contains a recommended mission

SWOT Analysis of McDonalds Paper Assignment 4: Strategy Formulation. Prepare and submit a Strategy Formulation document that contains a recommended mission statement and goals based on the findings in your previous SWOT Analysis. A set of supporting strategies, program objectives, and impact objectives should be developed for each goal that you have identified. Your strategic planning activities should be for a five-year planning period. Guidance for this assignment can be found in Consulting Project Briefing 3.This assignment must be word processed and submitted electronically in MS Word (.docx or .pdf) format. The file must be named in the following format: Lastname_Assignment4. Submit your completed document to Assignment 4, listed on the Modules and Assignments pages, as a file attachment. Consulting Project Briefing
Number Three
STRATEGY
FORMULATION
Assignment Four
STRATEGY
FORMULATION
This assignment will build on
your earlier SWOT Analysis.
Five-year Planning Period
Project Components
 Mission Statement
 Goals
 Strategies
 Program Objectives
 Impact Objectives
Scope of Work
Assignment Four


Recommend a Mission Statement.
Formulate a series of Goals for the five-year planning period.

For each Goal identify the Strategies necessary to achieve that
Goal.
• Remember that Goals are “ends,” whereas Strategies are “means”
selected to achieve that outcome.
Identify Program Objectives by categorizing each Strategy into
the timeframe(s) in which it will be implemented.
 Translate each set of Program Objectives into corresponding
Impact Objectives that show progress towards Goal attainment.

Steps in Strategy Formulation
Based on an informed understanding gained through
conducting a SWOT Analysis
1. Draft a recommended Mission Statement.
2. Formulate Goals that make sense based on the SWOT
Analysis and Mission Statement.
3. Identify necessary Strategies to support each Goal.
4. Categorize these Strategies according to planned
implementation timetable under Program Objectives.
5. Translate the Program Objectives for each timeframe
into progress towards Goal attainment and list under
Impact Objectives.
Scope of Work
Assignment Four
Conventional
timeframes for listing
Program Objectives and Impact Objectives
are 1 year, 3 years, and 5 years.
Program Objectives are designed to measure
progress in the implementation of Strategies
while Impact Objectives measure progress
towards Goal attainment.
Project Guidance
 Make sure that you list all necessary actions to
achieve a Goal under both “Strategies” and “Program
Objectives.”
 Remember that Impact Objectives should be stated
in the same terms as the respective Goal.
Deliverables
Assignment Four
 Prepare and submit a written document that
responds to the scope of work.
 This document should include the following items:


Recommended Mission Statement
Set of Goals for the planning period
Supporting Strategies
 Program Objectives
 Impact Objectives


Please start each Goal on a new page.
Characteristics of Effective Goals
 Precise and measurable
 Address crucial issues
 Challenging but realistic
 Specify a time period
 Example:

Increase membership by 30 percent over the next five years.
Increase membership by 30 percent over the
next five years.
 Strategies:


Survey current members regarding expectations and satisfaction.
Develop and offer new membership services.
 Program Objectives:



Year 1 – Survey current members.
Year 3 – Introduce new membership services.
Year 5 – Conduct membership survey.
 Impact Objectives:



Year 1 – Increase membership by 5 percent from base year.
Year 3 – Increase membership by 15 percent from base year.
Year 5 – Increase membership by 30 percent from base year.
Suggested Format
 Goal – xxxxxx
 Strategies
 xxx
 xxx
 Program Objectives
 Year 1
 xxx
 xxx
 Year 3
 xxx
 xxx
 Year 5
 xxx
 xxx

Impact Objectives
 Year 1
• xxx

Year 3
• xxx

Year 5
• xxx
You will have the opportunity to
revise and resubmit this
assignment after receiving
feedback from the course
instructor.
Please review the next Consulting Project
Briefing ASAP to fully understand the
expectations for this comprehensive strategy
formulation assignment. You will be expected
to follow the specified format and to base your
work on Assignment 3. Given the complexity of
this assignment you will be expected to submit
your initial submission this week and will have
ONE opportunity to revise and resubmit your
assignment next week after receiving feedback
on the initial submission.
Your recommended mission statement should
make sense based on your SWOT Analysis.
Your goals should make sense based on the
SWOT Analysis and mission statement.
You will be expected to identify ALL necessary
strategies to achieve each goal and list them
under both Strategies and Program Objectives.
Should you have any questions, please let me
know.

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