For this assignment we were provided a question and each student responded to that question.  We must now respond to two of our classmates answers with a substantial post.  I will provide the original question and the two answers that need to be responded to.  Each question needs a separate answer.

 

Original: Consider your Strategic Plan Part II: External and Internal Assessment assignment. Describe a few key sources of information used for locating vital internal information. What is the value internal assessment tools have on formulating strategies?

 

Answer 1: There are a couple sources of information used when locating vital internal information. The biggest source would be having a vision and mission statement. The statements allow the company to let their employees and customers know exactly what they stand for and what direction they are looking to go. Employees and their feedback is another vital part of internal information. During my time in the restaurant industry, I worked in many different levels from upper management to entry/lower level positions. I noticed that the entry/lower level employees are the ones that have more useful information than anyone else because they are the ones that are doing the execution. In my company that type of internal information is key because it will break down my plans on whether or not they are achievable because just because it sounds good on paper doesnât always translate well in real life. Another vital internal information would be my companyâs budget because it shows me how I am spending my money and if I need to decrease the budget and focus the excess cash elsewhere. One last vital internal information would be researching my own company, but at the same time comparing it to others so I know where I can improve. There is high value that internal assessment tools have on formulating strategies because before being able to compete against external factors, my company needs to have a strong back bone internally to have success in the outside world.

 

Answer 2:  External and internal information is important for any business. In my strategic plan, our center uses many tools to receive information. Internally, we use employee surveys and parent surveys to see how our center is doing and meeting everyoneâs needs. In addition, we have three accreditations each year to make sure our center is meeting the childrenâs needs, as well as, the states for early childhood education. The results can show us how to stride forward and if there are any areas that we need to improve on. According to David & David (2017), âOrganizations strive to pursue strategies that capitalize on internal strengths and eliminate internal weaknesses.â With that being said, each survey and accreditation service result can help us form strategies. By formulating strategies, we as a early childhood education center can help us become the leading childhood education center in western Pennsylvania.

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