From the course: Strategic Planning: Case Studies
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Organize and allocate resources
From the course: Strategic Planning: Case Studies
Organize and allocate resources
- Mapping resources to initiatives and ensuring they have all the resources they need to succeed helps ensure your strategy actually gets executed. Widget SeLux has enough resources to pursue three initiatives. They should allocate those to a balanced portfolio of ideas and sequence those ideas according to impact that balances risk. Their first idea should be improving the supply chain. There's very little risk in pursuing this idea. It drives near-term impact. They can then take that value and use it to fund future investments. Their second idea should be pursuing the new super deluxe widget. This has long lead times for developing this product. That means starting sooner rather than later is important. This idea also carries a moderate level of risk, so it's okay to fully fund it. Their third idea of offering widget refills via mail order is one that's longer-term, but it carries a lot of retail partner risk. They…
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