Social Network Strategic Plan. Olga Botero EMBA A-05: Management In Dynamic Environments Professor : Dr. Mathew Willard February 4 th 2011

Size: px

Start display at page:

Download "Social Network Strategic Plan. Olga Botero EMBA A-05: Management In Dynamic Environments Professor : Dr. Mathew Willard February 4 th 2011"

Noreen Tate
6 years ago
Views:

1 Social Network Strategic Plan Olga Botero EMBA A-05: Management In Dynamic Environments Professor : Dr. Mathew Willard February 4 th 2011

Parent background is required myclassfriends.

2 Strategy Approach Focus on a single segment and use differentiation as the competitive scope Our focus will be children social networks School ID required for children from 1 st To 12 th grade Parent background is required myclassfriends.com will be COPPA Certified Membership is free Emphasis is on design, innovation and product support Resources will be maximized to achieve results

Justification Focusing in one portion of the demographics will allow us to give the customer what they want and nobody else offers When analyzing the demand we find that there are no social networks

3 Justification Focusing in one portion of the demographics will allow us to give the customer what they want and nobody else offers When analyzing the demand we find that there are no social networks just for children that are completely safe Focusing in cost is risky, competition is too tough and widespread, technology and innovation make it vulnerable By being the first mover into the school market, the niche is taken and the competitive advantage is established Large firms do not want to bother with niche markets and small firms will need to displace first entrant

Key to a Successful Implementation Strengths and Weaknesses Strong marketing to flood the market Operation efficiency, outstanding support and quality of innovation Access to funds to be proactive HR

4 Key to a Successful Implementation Strengths and Weaknesses Strong marketing to flood the market Operation efficiency, outstanding support and quality of innovation Access to funds to be proactive HR well trained and innovative work force Opportunities and Threats Internal strength is needed to overcome external changes in the social networking landscape and to take advantage of the opportunities

5 Planning Systematized and ad-hoc planning is the coordination of the strategy to achieve the performance targets Statement of the goals Assumptions Futures for competitive advantage Action steps or milestones Financial projections

6 Organizational Structure and Monitoring FMI Organizational structure in business units Focus on coordination Mutually adjusting Multiple roles Formalize a corporate culture as a control mechanism Scan external controls Monitors internal environments

7 Implementing the Business Strategy Focus with Differentiation competitive scope Create a strategy office to plan, implement and monitor the strategy Create the corporate climate conducive to innovation Assemble the marketing team to exploit that innovation creating a first entrant competitive advantage Create the plan with obtainable milestones Develop technical training or acquire technical experts in Web Development, social networking tools, project management and system security

8 Competitive Advantage and Strategy Cost advantage in a competitive market Nowhere to go to compete Market to large and spread Differentiation in the large scope of the market, too difficult to penetrate Focus in differentiation will allow FMI to compete by taking care of neglected user groups creating loyalty advantage Social, emotional, psychological and esthetic considerations are present in choices over all products and services (Grant, 2009, p. 248)

The Global strategy First level a given just by being in the Internet We can expand to

9 Corporate Strategy Unrelated Diversification strategy a chosen strategy by FMI Merger? In house development? The Vertical Integration Software development acquisition? The Global strategy First level a given just by being in the Internet We can expand to other countries later International strategies can be explored to take advantage of costs and economy of scales

10 Global and Multinational Strategy Global Strategy Internationalization, simple but effective Globalization, outsourcing parts of the operation Multi-domestic, partnership or joint venture Trans-national, more commitment, more risk More exposure Wholly own subsidiary?

Other Issues for a Successful Implementation Organizational leadership SMART Specific: Management defined clear focus Measurable targets Agreed: All teams agree on targets

11 Other Issues for a Successful Implementation Organizational leadership SMART Specific: Management defined clear focus Measurable targets Agreed: All teams agree on targets Realistic: Achieved targets boost morale Corporate Social Responsibility (CSR) Positive work/life balance for employees Investing in local communities Treating users and suppliers with respect

12 References Botero, O, (2011, January 21) Social Networking Strategy Formulation, EMBA690 Phase 2 Individual Project, Colorado Technical University Grant, R, (2010, July) Contemporary Strategic Analysis, Seventh Edition, John Wily & Sons Ltd. Gillespie, (2007) Developing a Strategy Retrieved January 7 th 2011 from /page_16.htm Gillespie, (2007) Business Strategy, Objectives, Retrieved February 2 nd 2011 From student/additional/page_06.htm Lawson, R, Desroches, D & Hatch, T, (2007, November 9) Scorecard Best Practices Safari Books Online, Colorado Technical University Willard, M, (2011) New Ventures, EMBA690 Class Materials Colorado Technical University Willard, M, (2011) Live Chat #7 Phase 3, EMBA690 Colorado Technical University

Strategic Management. Gregory G. Dess University of Texas at Dallas. G. T. Lumpkin Syracuse University. Alan B. Eisner Pace University.

Strategic Management. Gregory G. Dess University of Texas at Dallas. G. T. Lumpkin Syracuse University. Alan B. Eisner Pace University. Gregory G. Dess University of Texas at Dallas G. T. Lumpkin Syracuse University Alan B. Eisner Pace University Strategic Management text and cases fifth edition I McGraw-Hill Irwin Contents port l Strategic