Overview (Reporting Observations at CanGo)
In week 1 and 2, I reviewed 6 videos on a fictional company called CanGo. CanGo has developed into a successful online business by selling books, and videos. CanGo also wants to target the Gen-Xers and Gen-Yers and support their enjoyment for on-line gaming entertainment. The business is a success and now, in order to take the company to the next level, CanGo must establish a game plan, and share their success story. Liz has been asked to speak to future business entrepreneurs and share with them the hows and whys CanGo became a success story.
If CanGo is going to succeed, it is very important that there be definitive and achievable objectives and results. CanGo must define their objectives by looking at the marketplace in which CanGo is competing. CanGo can apply their objectives to the goal of success and then applying the skills within CanGo to accomplish their goals.
In my observation while watching the videos it is apparent that CanGo success had to do with timing, and luck. In order for CanGo to maintain and improve its business success and competitive advantage, CanGo must implement a strategic management plan.
Developing a Strategic Management Plan means having defined what is the best set of results CanGo can attain or what CanGo wishes to accomplish, known as a Vision Statement. Mission Statements, developing the ways to accomplish these results, developing strategies, and measurable factors developing their Goals and Objectives. All of this is in context of good business practices and making good business decisions.
A vibrant organization knows that Strategic Management requires:
Planning by completing the development of strategies,
Implementing the strategies and associated business processes to attain the short-, medium-, and long-terms results, and
Improving the Strategic Plan on a continual basis.(Scharp, L. & Kenmore, R.2005,week 1 lecture)...