Strategic Plan and Presentation in Accuracy Inc Company

Presented to

Institution

Company background, organizational mission, vision, and value statements

Accuracy Inc Company (ARAY) falls under the medical industry that specializes in radiotherapy and radio surgery. ARAY management contributes a lot in the development of the company through creating innovations using advanced technology in the medical field. ARAY production line focuses on quality development, manufacture, and creation of treatment platforms in order to aid patients’ live longer and better lives. Moreover, the company’s principal aims at protecting the health of all patients by providing essential human services, more so for those unable to assist themselves. ARAY has used various technologies in developing devices capable of giving it a high competitive advantage in the industry. The introduction of Tome-therapy and cyber knife has made the company prosper by giving quality surgery services. These new technologies have made ARAY achieve its company vision of providing quality services to patients, especially cancer patients, to lengthen their lives (Accuray, 2010).

Strategic plan process

The process involves the creation of alignment between the long-term strategic plans that form new goals and objectives. Development of a strategic plan includes broad health and human service impact measures that contribute to achievement of long-term goals (Simerson, 2011). Accuray is experiencing slow business operations due to presence of management problems. The styles and approaches made by the management in developing a strategic plan would enable the company achieve a better competitive advantage. The first step of strategic management involves identification of problems influencing the productivity of the company. The company management will carryout and analysis that would aid in identifying the main problems . The second step in strategic management involves formulation of innovative forms of management processes. These would include the use of advanced technology in the medical field and hiring experienced physicians. The last step is implementation. The strategy management plan will develop a risk management plan.

Environmental scan

The organization’s environment plays a crucial role on its growth. The environment consists of internal and external environment, but the external environment has the greatest impact. The external environment introduces threats and opportunities to a company and the management has the duty of designing a perfect strategic plan catering for the above. Accuray Inc possesses more strengths than weaknesses making since it has highly advanced equipments that create greater opportunities over its competitors. The company’s strategic plan aims at using the strengths to conquer its weaknesses that form the internal environment. Moreover, availability of more strengths in the company will allow it identify more opportunities in the medical field (Kotler and Armstrong, 2011). A company performs a strategic analysis that aids at market entry through minimizing the production cost and increasing competitive advantage. All these depict an organization’s strengths and weaknesses that make enter the international market. ARAY would overcome marketing challenges by developing a perfect strategic plan that requires knowledge of fundamentals of marketing.

The main objective for ARAY is to come up with a strategic plan that will make the company offer quality services to patients irrespective of their background, and that outdo services from other medical centers. By embracing the current technology, ARRAY will facilitate the invention of new surgery techniques. In addition, the introduction of tomotherapy and cyberknife technologies has made the company rank high in the provision of high standard services that miss in other health centers. The innovation assists the company in gaining a market share on the local and international scene. Moreover, the company updates its strategic plan every 3 years. The process involves the creation of alignment between the long-term strategic plans that form new goals and objectives. Development of a strategic plan includes broad health and human service impact measures that contribute to achievement of long-term goals (Simerson, 2011).

Implementation

According to Queensland Government (2012), companies face many risks in their day-to-day operations that require plans for identifying, assessing risks, and developing strategies to manage them. Risks vary from business to business, but an organization should allocate time, budget and enough resources for preparing a risk management plan together with a business impact analysis. The risk management plan for ARRAY will follow the following guidelines. First, the strategic plan team will identify the potential risks that can affect the company. Second, an analysis and evaluation of the impacts of such risks will be done. Third, the identified risks will be treated to the company, in order to develop a contingency plan. Finally, a business impact analysis will be conducted to determine the potential effects to the company resulting from the identified risks.

References

Abraham, S. C. (2012). Strategic planning: a practical guide for competitive success. (2nd Ed.).

Bingley, U.K: Emerald.

Accuray. (2010). Accuray Corporate Background. Retrieved from:

http://coloradocyberknife.com/accuray-corporate-background/

Kotler, P. and Armstrong, G. (2011). Principles of Marketing, the Fourteenth edition. Prentice

Hall.

Queensland Governement. (2012). Preparing a risk management plan and business impact

analysis. Retrieved from:

HYPERLINK “http://www.business.qld.gov.au/business/running/risk-management/risk-management-” http://www.business.qld.gov.au/business/running/risk-management/risk-management-plan-business-impact-analysis

Simerson, B. K. (2011). Strategic planning a practical guide to strategy formulation and

execution. Santa Barbara, Calif: Praeger.