Sears Company Incentive Program and Strategic Goals Paper **Before you begin, I have attached my previous work on this project. Please read and get an idea

Sears Company Incentive Program and Strategic Goals Paper **Before you begin, I have attached my previous work on this project. Please read and get an idea of what you need. ALSO IMPORTANT- THE STRATEGIC MANAGEMENT GOAL IS A REWARDS/INCENTIVE PROGRAM

The stage is set for your strategic goal to become a reality. Before that can happen, you’ll need to think through and map out the tasks within the project. This assignment will focus on planning out the individual aspects of the project using the project management tools that you’ve previously learned. You will be able to use Word or Excel for this assignment. (Choose whichever you’re more familiar with.) It’s important to think through the goal you’re trying to accomplish and how you’ll reach it. The more detailed you can be with your tasks, the smoother the project management cycle will go. Your submission this week should accomplish the following:

Create a basic chart that lists out at least 8 tasks required to complete your chosen strategic management goal and estimates on how long each will take to complete.
Create a Gantt chart using the tasks listed in the previous chart.
Create a network diagram using the tasks listed out in the previous chart.
Analyze your created Gantt chart and network diagram. Identify two potential issues that may be a cause for concern when the project gets underway. Running Head: STRATEGY IMPLEMENTATION
Strategy implementation
1
STRATEGY IMPLEMENTATION
2
Strategy Implementation
Sears Holding Co. has come up with various strategies that will increase its sales in the
coming years. These are strengthening IT infrastructure, take advantage of its secure retail
experience, minimizing the competition, improving the financial planning and employ a skilled
workforce. However, to implement these strategies, various factors should be considered that
affect both people and the organization. Strategy implementation illustrates what activities to be
done, the person to perform the operations, time and way to be completed and the place to
conduct them according to Chang, (2016). The following steps should be taken before
implementation.
Establish the value proposition. Before implementing the new strategies, one should
consider the competitive advantage of the business. In Sears holding co, they have significant
shares in the market compared to their competitors. However, as the company, we should know
why they prefer our products from others. After evaluation of many reasons from the customers,
the company should focus on products and services that they can offer best than others. Failure
in this stage can lead to devaluation of the business.
Identify the ideal customer. Sears holding company mostly deal with online customers
who mostly do not have time for physical visits in their stores. Before implementation, the
company should consider the effects of proposed strategies on their customers. Having reliable
IT infrastructures customers will ensure that they can shop online very effectively and
efficiently.
Define the key indicators. The changes that the strategies will make should be measurable
to make them useful. Identify the procedures that affect business growth and dedicate adequate
time and money on them. Consider checking the progress now and then to see their impact.
STRATEGY IMPLEMENTATION
3
Identify available revenue streams. Determine if there is a need for a new revenue stream
to increase the profit of the business and their sustainability in the long term. However, some of
the strategies may not require any revenue for their implementation thus need to differentiate.
Consider the competitors. Consider investigating how the businesses in similar strategies
have handled the implementation of their growth strategies. For example, the sear holding co can
relate to Amazon’s implementation of their approach and their experience. If need be, seek any
advice that will help in implementation. Find out why the competitors used specific strategies
and their influence on their growth.
Focus on the company’s strengths. Sears Holding Company is known for its unique
products and reliability. They have reliable customer services and professionally train their
employees. It’s a one-stop shop where its customers get a variety of products at ago. Focusing on
the strengths will help establish the strategies than focusing on weakness according to Wheelen
et al. (2017). Rearrange the strategies to suit your strengths and use them to build the growth of
the business.
Invest in your employees. Employees are directly involved with the customers and
therefore need to motivate and inspire them. To implement strategy it requires participation
from all employees in the organization. Executing the strategies can be led by top management
while others follow. The employees should have skills, competencies, and knowledge for the
implementation of the policy. Factors to be considered for strategy implementation are people,
resources, structure, systems, and culture.
Implementing a strategy is not as easy as it may seem especially in market conditions
that change daily. Also if a strategy worked for one company doesn’t have to work for yours;
thus we cannot measure the success of accompanying based on their plan according to Candido
STRATEGY IMPLEMENTATION
4
& Santos, (2015) . Focus your strategies on the business and the customers, by doing this you
will fulfill customers’ satisfaction and improve the sales of the company. Sears holding company
should consider the steps because it will positively affect the growth of the company.
STRATEGY IMPLEMENTATION
5
References
Cândido, C. J., & Santos, S. P. (2015). Strategy implementation: What is the failure rate?.
Journal of Management & Organization, 21(2), 237-262.
Chang, J. F. (2016). Business process management systems: strategy and implementation.
Auerbach Publications.
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management
and business policy (p. 55). Boston: pearson.
Running head: BUDGET ESTIMATES
BUDGET ESTIMATES
Goal choice
1
BUDGET ESTIMATES
2
All companies require goals, objectives, and targets to be successful or deliver the best
services for their customers. Therefore, the goals for SEARS company include; improving
customers lives by providing high-quality products, solutions, and services, Performance Review
and Reward System and Improve resource allocation- minimize waste and save costs.
Operating Budget
Ideally, an operating budget is a necessity for any o the business, that is, both the profit
and nonprofit organization (Loughran & McDonald, 2016). Owners and the managers use it to keep
track of the progress, plan for growth and also, identify and adjust any processed and procedures
when the thing in a company is not operating as expected
Revenue
Amount
Corporate Donation
$ 36,000
Fundraising
$ 20, 000
Individual Contributions
$ 11,000
Interest
$ 20
Program Fees
$ 30, 000
Grants
$ 140, 000
Total Revenue
237,020
General Operations
Processing
$ 20,000
Staffing
$ 11,000
Location
$ 5,000
Equipment & Tecnology
$ 36,000
HR
Interviewing
$ 12,000
Expenses
Admin. Supplies and services
$ 9,000
BUDGET ESTIMATES
Building Expenses: insurance
3
$2,000
Miscellaneous
$ 3,000
Utilities
$ 4,500
Loan Payments
$ 16,000
Salaries and Benefits
Administrative
$ 13,000
Benefits
$ 7,000
Executive Director
$ 61,200
Developmental Director
$ 34,200
FICA & Taxes
$ 10,000
Health Insurance
$ 4,000
Total Expenses
$ 230, 900
The Capital Budget
Capital budgeting is the processing in which the business or investor determines and
evaluates potential significant expenses or investments (Loughran & McDonald, 2016). The costs
and expenditures that the business owners decide to include projects such as the new plant or
investing in a long term venture. Therefore, management utilizes the capital budgeting to
determine the profitable projects will yield the most return over an applicable period . some of
the methods of capital budgeting are throughput analysis, net present value, internal rate of
return, discounted cashflow and the payback period.
Long term assets are the investment within a company that will be of great benefit with
an extended period. They include fixed assets such as property, plant and equity, and other assets
such as long term investments or patents. Therefore, the company can incorporate the patents as
long term assets to protects its commodities. Licenses will enable the company to produce
BUDGET ESTIMATES
4
differentspecialties, and also it will be protected from the production of the counterfeit products
by other companies. Sears HR strategies may consider incorporating the modernized plant and
machinery. In the modern and competitive world, companies can only face a competitive
environment by combining advanced equipment in their organizations.
Conclusion
SEARs company can achieve the goals and the objectives set aside by following the
operation budget and also using the capital budget to determine the profitable projects. Use of the
capital budgeting methods requires skills and expertise to ensure they make appropriate
decisions.
BUDGET ESTIMATES
5
References
Loughran, T., & McDonald, B. (2016). Textual analysis in accounting and finance: A
survey. Journal of Accounting Research, 54(4), 1187-1230.
Module 03 Course Project – Budget Estimates
Total Points
Possible
100
Chosen goal is
clearly
identified (20
Max Point
Value)
Operating
budget is
realistic and
considers all
major expenses
for the chosen
goal. (30 Max
Point Value)
Two long term
assets are
identified, fit
the chosen goal,
and their impact
is explained.
(30 Max Point
Value)
The budget is
mathematically
sound (20 Max
Point Value)
Insufficient/No
t Evident
Progressing
Competent
Exemplary
Earned
Points
(0-9pts.)
Content was not
included or
incomplete,
and/or
extremely
inaccurate
(0-14pts.)
Content was not
included or
incomplete,
and/or
extremely
inaccurate
(10-13pts.)
Content shows a
basic
understanding of
key ideas, yet
includes some
inaccuracies.
(15-20pts.)
Content shows a
basic
understanding of
key ideas, yet
includes some
inaccuracies.
(14-17pts.)
Content meets criteria
with minimal errors, is
accurate and shows a clear
understanding through
appropriate examples and
explanations.
(21-25pts.)
Content meets criteria
with minimal errors, is
accurate and shows a clear
understanding through
appropriate examples and
explanations.
(18-20 pts.)
Content meets or exceeds
criteria, is accurate and
shows an extraordinary
understanding through
rich examples and
explanations.
(26-30 pts.)
Content meets or exceeds
criteria, is accurate and
shows an extraordinary
understanding through
rich examples and
explanations.
(0-14pts.)
Content was not
included or
incomplete,
and/or
extremely
inaccurate
(15-20pts.)
Content shows a
basic
understanding of
key ideas, yet
includes some
inaccuracies.
(21-25pts.)
Content meets criteria
with minimal errors, is
accurate and shows a clear
understanding through
appropriate examples and
explanations.
(26-30 pts.)
Content meets or exceeds
criteria, is accurate and
shows an extraordinary
understanding through
rich examples and
explanations.
(0-9pts.)
Content was not
included or
incomplete,
and/or
extremely
inaccurate
(10-13pts.)
Content shows a
basic
understanding of
key ideas, yet
includes some
inaccuracies.
(14-17pts.)
Content meets criteria
with minimal errors, is
accurate and shows a clear
understanding through
appropriate examples and
explanations.
(18-20 pts.)
Content meets or exceeds
criteria, is accurate and
shows an extraordinary
understanding through
rich examples and
explanations.
Total
Where is the time component of your goal (It needs a time limit to be SMART).
Why would you want to make your goals SMART goals?
When would you want to use SMART goals?
You made a very nice table.
Please save your documents in Word 2003 format, in the future.
16
Why
didn’t you
use
SMART
goals?
27
You had a
realistic
budget
that
considere
d all the
major
expenses.
27
Two
assets
were
chosen
and
explained
well.
20
Your
budget
balances
beautifully
.
90 /100
Running head: [SHORTENED TITLE UP TO 50 CHARACTERS]
SEARS- HR Strategies
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[SHORTENED TITLE UP TO 50 CHARACTERS]
2
SEARS- HR Strategies
Now that we have analyzed and researched different goals, strategies, and setbacks Sears
has and will face. We can move forward and come up with solutions and possible strategies to
move SEARS into a positive, more lucrative position. Let’s begin by highlighting some goals we
had last week, how we will develop those goals and retain success.
Goal Choice
Initially, in our external analysis from last week, we were to come up with three goals
that we would like to improve on or even implement into SEARS’ new aesthetic. Those three
goals were:
1. Improve customers lives by providing high quality products, solutions, and
services
2. Performance Review and Reward System
3. Improve resource allocation- minimize waste and save costs
Out of these three examples, I would like to focus on “Performance Review and Reward
System.” I think this is a great first goal to focus on because we need to garner some excitement
again around the brand SEARS. We need to implement a program in which we get people
shopping, and intrigued by incentives and new ideas.
Hiring- Attraction
In order to make any promotion, sale, company successful you have to start with the right
team. If I had to choose three traits in order to make this goal successful, I would choose
diversity, good communication skills and leadership qualities. Diversity because everyone is
unique and everyone has their own unique vision of something whether that be based on culture,
upbringing, experience. You need different perspectives to throw out different ideas, ideas that
[SHORTENED TITLE UP TO 50 CHARACTERS]
3
might be outside of the box to you or someone else. Communication skills are also a must. Not
just talking either, you equally have to be a good listener. If a group or a person is not able to
communicate well goals will not be achieved, time lines can be botched and projects even go
unfinished. Leadership qualities are important because you need employees that are trustworthy
and garner respect. “This individual essentially works as the glue holding the team together and
should be responsible for setting the pace, offers encouragement and motivation and keeps all
members of the team updated, (Deering, 2019).”
Hiring strategies, the other side of the coin, can be equally important as hiring employees.
As the employer you want someone who is confident, loyal, and takes their job seriously. What
strategies can SEARS use in order to attract a better candidate for hire? First off treat candidates
like customers. “Whether it’s a phone screening or an in-person interview, a candidate’s first
impression of your company is critical. It’s important you make them feel you’re as excited
about getting to know them as they are about being considered for the role. One of the best
recruiting techniques is to treat interviewees the same way you treat your customers, (10
recruiting strategies).” Be respectful of their time, be courteous, polite and outgoing. Secondly,
include some seasoned, valued employees on the interview process. They know what the job
entails and have been doing it for years so why not go straight to the source (or include the
source) and have them sit on the interview. After the interview you can hear some of the
invaluable feedback.
By using these methods, it will ensure that our work force stays diverse thru inclusion
and by being open and honest. By hiring the right people and having enthusiasm it will help us
reach our goals successfully. The foundation, the team is what’s going to make or break our
goals and our outcomes.
[SHORTENED TITLE UP TO 50 CHARACTERS]
4
Development
Training is one of the biggest benefits that we have. So often people are thrown into roles
without proper training and lack of knowledge. We will be doing most of our training face to
face. We do want to establish a more prominent online platform but SEARS is a retail store.
Customer service is key and by training our recruits face to face, this gives us a more hand on
experience and I believe a greater chance for problem solving success. Two areas for training
new employees that need to be covered are obviously customer service skills (answering phones,
knowledge of store and products, etc.) and problem-solving skills (answering customer
questions, dealing with disgruntled customers). Existing employees always need a refresher
course so we will retrain customer service skills and also knowledge. We want all our employees
to stay up to date on new products/services, how they work and how they can benefit each
customer in a new and unique way. Our training will include group exercises especially when it
comes to problem solving issues. This will highlight the way diversity can be an asset, some
people might approach an issue a certain way that another employee might not have even
thought about.
Retain
How do we maintain our high level of service with our employees over time? It’s
important to stay consistent so I will go ahead and say that SEARS needs to keep moral high by
offering employee benefits and incentive programs, as well as being “leaders” not “bosses.”
Maintain respect and keep the lines of communication always open. The open-door policy at all
times. All strategies can have positive or negative experiences, it depends on the people to keep
them successful. Like I stated earlier, a good team will bring you far. It will bring you success
[SHORTENED TITLE UP TO 50 CHARACTERS]
and happy employees. A bad team could take down the whole organization. Communication is
key. Respect is key. Good Leadership is key. Diversity and honesty are equally as important.
5
[SHORTENED TITLE UP TO 50 CHARACTERS]
6
[SHORTENED TITLE UP TO 50 CHARACTERS]
References
Deering, S. (2019, January 04). Top 7 Qualities of a Successful Team. Retrieved from

Top 7 Qualities of a Successful Team

10 Recruiting Strategies for Hiring Great Employees. (n.d.). Retrieved from
https://www.indeed.com/hire/c/info/10-recruiting-strategies-for-hiring-great-employees
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