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Pages:
8 pages/≈2200 words
Sources:
10 Sources
Style:
Other
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 38.88
Topic:

Spotify Strategic Plan

Essay Instructions:

Assignment Overview
1. Introduction: What as the proposed recommendations made by your assigned group?
2. Company overview: Present a short overview of your assigned company.
3. Strategy implementation: In this section, you will explore several items which need to be considered to implement the proposed recommendations made by your assigned group. To aid you in completing this section, consider some of the below topics found under chapter 9 of David & David (2017).
a. Product Positioning and Perceptual Mapping
b. Strategic Finance/Accounting Issues
c. Corporate Valuation
d. Strategic Management Information Systems Issues
4. Strategy execution: In this section, you will explore how the organisation can turn the proposed recommendations into action. To aid you in completing this section, consider some of the below topics found under chapter 10 of David & David (2017).
a. Comprehensive Strategic-management Model
b. Allocate Resources and Manage Conflict
c. Match Structure with Strategy
d. Strategic Production/Operation Issues
e. Strategic Human Resource Issues
f. Strategy-Supportive Culture
5. Strategy monitoring: In this section, you will explore how the organisation can review, evaluate, and control the execution of strategies to respond to the firms external and internal environment. To aid you in completing this section, consider some of the below topics found under chapter 11 of David & David (2017).
a. Strategy-Evaluation Process, Criteria, and Methods
b. The Balance Scorecard
c. Contingency Planning6. Conclusion: summarise the key points of your implementation strategy. Consider any limitations to your strategy and provide a reflection on whether you feel the proposed recommendations can be effectively implemented and if not, what modifications would you propose?
As you work through this assignment, you will take a theory meets industry perspective. This means that you will explore the theoretical side of the concepts/tools/theories you are looking at and where applicable, apply them directly to the assigned groups organisation and proposed recommendations. While the module’s core textbook is provided as a guide to produce the assignment, students need to rely on additional academic sources (i.e., journal articles & textbooks) and specialised publications (outlets written by industry experts for an industry audience) when exploring and applying the relevant concepts/tools/theories to the assigned groups organisation and recommendations. A student’s individual assignment will range from 2,000-2,500 words (excluding cover page, table of contents, references, and appendices) and will be submitted via Turnitin on Moodle on
Requirements for Assignment:
 All continuous assessment submissions must be accompanied by a declaration of originality that states the document is compliant with the University’s Plagiarism Policy and the School of Business Plagiarism and Originality. This must be electronically signed by the student (scanned/photo written signatures of all group members). Failure to electronically sign the declaration of originality will result in a zero grade for any student who does not sign the declaration. Note that the typed name of a student is not sufficient, you must include the scanned/photo of the written signature. Please ensure that this electronically signed declaration is on the front page of the assignment you submit on Moodle.
 The standard 10% +/- rule will apply to this assignment.
 Assignments submitted after the submission deadline will be deducted 10% for each 24 hours the assignment is late. Any assignment that is 10 days late without an approved extension will receive a zero grade.
 All primary sources and data used must be in English or Irish. If other languages are used, a translation must be provided.
 Use 1.5 times spacing, font 12 and use a professional font

Essay Sample Content Preview:

Spotify Strategic Plan
Students Name
University Affiliation
Course
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Introduction
Spotify Company has now been a global leader in online music streaming since its formation. The company was founded in 2006 and has ever since been performing outstandingly well despite the much-heightened competition from competitor forms such as Apple Music and YouTube. Going forward, it is important that the company executives formulate proper workable plans to ensure the company moves forward and achieves even greater success in terms of profits generated and revenue streams (Porter, 2021). Strategic managers of the organizations ought to collaborate with other departments to ensure that formatted strategies are well implemented, executed and well monitored. The company management must show goodwill and support to the strategic managers as they formulate, implement, execute and monitor important strategic plans for the company. Achieving optimum financial success in the next five years will require the company to set serious financial plans to propel itself to the much-desired success. The strategic managers must work in collaboration with the finance team for the company and develop a proper strategic financial plan for the company for the next 5 years. The main objective of the strategic plan is to reduce costs and increase revenues and consequently profits for the company. Therefore, this paper delves into the strategy formulation process; the implementation proves, and the evaluation and monitoring process for the company.
Strategy Formulation
To understand the best strategy to formulate the strategic managers should ensure they have done a proper thorough SWOT analysis of the company. SWOT analysis is crucial since it helps strategic managers to be able to know whether the company has the necessary resources and capability to implement a certain strategy or not. Also, SWOT analysis helps strategic managers identify the company's opportunities to take advantage of and achieve their desired strategic goals. Additionally, SWOT analysis ensures that strategic managers are well informed of the main strengths, weaknesses and threats likely to encounter the company as it strives to achieve its strategic plan. Knowing the strengths and weaknesses is crucial since it helps have a glimpse of where to invest most resources.
In this case scenario, the main strengths of the company include the agile human resource corporate culture established by the human resource managers, the renowned brand name, the large market share and customer base across the world and the company’s ability to use advanced technologies that help in offering its consumers with personalized experiences while listening to the streaming music (Pastukhov, 2019). The company's main weaknesses at the moment include its low financial stability, characterized by the company's weak bargaining power in the music streaming space and the high costs of operations. These weak areas arise since the firm buys its music and the music rights holders have the highest bargaining powers. In the end, this means that the firm incurs high operational costs and ends up being financially constrained compared to its competitors. The main threats experienced by the company are t...
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