MT460-6: Compose business policies to enable implementation of a strategic plan. To help guide your understanding of developing a policy manual, use the following two library resources: McConnell, J. H. (2005). How to develop essential hr policies and procedures. [Books24x7 version]. Retrieved from: http://common.books24x7.com.lib.kaplan.edu/toc.aspx?bookid=8852 Page, S. B. (2009). Writing exceptional policies and procedures. [Books24x7 version] Retrieved from: http://common.books24x7.com.lib.kaplan.edu/toc.aspx?bookid=30886 You may also find the policy templates and examples useful. If you use templates, make sure to modify them to include the correct titles and content. Be sure to delete instructions or extraneous information that might be found in the template. You must also be sure to professionally format the templates to meet your unique professional style and character. Templates are only to be used as a starting point. Business policy helps guide strategy implementation from a control perspective, but it can also enable innovation. Policy must be carefully developed so to empower employees, but must also be stringent enough to set boundaries and enforce expectations. To understand the central significance of the relationship between policy and strategy to top managers and their organizations, you must gain an understanding of how environments, external and internal, affect the functioning of an organization. You must develop an ability to evaluate environment so as to detect opportunities and threats in it to which alert managers must respond. It means an understanding of the processes through which managers can best determine those missions and objectives their organizations should seek; it means the ability to formulate and evaluate the best policies and strategies to achieve these ends, and the methods to assure that policies and strategies are implemented. This is an important strategic leadership and management ability that you must demonstrate and continuously hone throughout your career. To demonstrate your abilities, you will compose a basic policy manual to provide guidance and support for your Capsim Core simulation company strategy and implementation plan. This manual should be detailed and should effectively demonstrate your unique ability to compose business policies and procedures. Use the following checklist to develop your policy manual: Develop a professionally formatted policy manual to support your Capsim Core simulation company’s chosen department (Research and Development, Marketing, Production, or Finance) strategy and implementation plan. It is up to you to decide what policies and procedures are needed to support and enforce your Capsim Core simulation company strategy and implementation plan. At minimum, you should compose five policies to help support and enforce your strategy and implementation plan. Review Chapter 6 in “Writing Exceptional Policies and Procedures” by Page (2009), and Chapter 6 in “How to Develop Essential HR Policies and Procedures” by McConnell (2005) found in the library. Each Policy you compose should contain components such as the following. Be thorough and detailed in the composition of your policy manual. Purpose Persons implementation of a strategic plan Affected (Scope) Policy Statement Responsibilities Procedures Forms References Document Approvals Explain how your policies affect the performance of the organization. In the overview section your policy manual, illustrate the connection between policies that provide safeguards and policies that encourage innovation in relation to the strategy and implementation plan goals and objectives. Compose policies that align all levels of the business strategy hierarchy to facilitate a seamless implementation plan. Ensure that the purpose, scope, policies, and procedures are aligned with the goals and objectives of each level of strategy. Use a minimum of three peer-reviewed research resources to substantiate your strategic decision-making. Your policies should be written using “Active” voice. Your grammar and spelling must be perfect in a implementation of a strategic plan policy manual.
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Overview of Baldwin
The Baldwin Company focus in the production of Low Tech, traditional and High-Tech products that are environmental and health-related sensors. The business strategy adopted by Baldwin Company is Cost Leadership PLC that emphasized on broader markets and lower costs(McConnell, 2005). Therefore, the product development in Baldwin Company are in the segment of low-end, traditional and high-end. Since Baldwin is a PLC company, the cost of product development will be minimized through expertise and efficiency. The company intend to maintain a minimum investment in the performance and size segment initially but may revise this trend depending on market conditions.
Cost Leadership PLC strategy will be passed to the customers by highly automating manufacturing of low-tech and traditional segment…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….
