Corporate Strategic governance

Section A

Question 1

The Ingenuous One Ltdisa large-scale printing house with operations all over Ghana. An evaluation of its first ever five-year strategic plan for the period 2015 – 2020 revealed the following: completion of strategy formulation, December 2015; preparations for full-scale implementation of the Plan were completed in March 2016; strategic plan implementation started in earnest in April 2014. Inspite of the enormous resources and financial outlay expended in its implementation, the strategic plan failed to achieve most of its objectives and targets.

Discuss the possible reasons, with practical examples, why the firm failed to achieve most of the objectives and targets of its strategic plan.

Section B

Question 1

Explain how the components a mission statement will apply proportionately or otherwise when asked to draw mission statements for the following organizations

1. Goldfields Ghana Limited
2. A university of Ghana
3. Accra Metropolitan Assembly (AMA)
4. The Ark Foundation of Ghana
5. Ghana Water Company Limited

Question 2

1. Limited is a small family-controlled manufacturing company. In its 40-year history, the company has grown to the extent that it now employs 35 staff, producing a wide range of household goods and utensils. The company has increased in sized from its small original base. However, it has never employed a strategic management approach for its development and has relied on operational decision making to determine priorities. N. Limited has never gathered any marketing information relating to its market. In recent years, the company has experienced a reduction in turn-over and profitability and is assessing how it might redress the situation.

The directors of N. Limited have now decided to introduce a strategic management approach which will assist in the selection of appropriate strategies for the future development of the company.

Required:

1. Distinguish between development and growth as used in the case. Justify your answers using examples from the case
2. State samples of strategic planning practicesmentioned in the case
3. Discuss five cultural and organizational changes which N. Limited will need to implement in order to successfully introduce strategic management