Question: The report is about formulating future strategic plan for Wespack bank Australia , which Suggested report formatis below, Introduction Background of the company External audit

The report is about formulating future strategic plan for Wespack bank Australia, which Suggested report formatis below,

  1. Introduction
  2. Background of the company
  3. External audit - Analysis of Porter's Five Forces Model of the industry - Identify three (3) primary key success factors (KFSs) for the industry. Include competitor & PESTEL analysis.
  4. Internal audit - RBV analysis - Identify the key core competencies and capabilities
  5. Identify two (2) key strategic issues that the company must address for the future

As a strategist, you need to think about where the company will be in three years' time. For example, you need to anticipate customer needs in three years' time and what you need to do today to be able to meet those needs. You need to anticipate how your competitor will react or how the industry may change in future. Attempt to link the findings of the external audit with internal audit.

  1. Strategic plan - Include a Model of SMP

(Ref Mangelsdorf, M. E. (2016). Mastering Strategy. MIT Sloan Management Review, 57 (2), 67-71. 4.)

  1. Recommendation - develop a strategic plan that will address the two key strategic issues identified in section 8. Set specific financial and strategic objectives consistent with the chosen strategy. Action plan - Briefly provide an action plan for implementation of the recommended course of action over an 18-month period.
  2. Evaluation & Control
  3. Conclusion
  4. - Repot Criteria: Demonstrates an understanding and application of strategic management concepts (15 marks) Ability to identify the key strategic issues facing the company (10 marks)
  5. -Development of a sound strategic plan (15 marks) Integrates theoretical and empirical research in writing

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