Modifications to the goal
Target made modifications to the shop to enhance the customer experience. To improve customer experience and safety, Target renovated its stores by adding new fixtures. Dees (2019): The renovation of the store allows it to incorporate cutting-edge technology and equipment with services that enhance the customer’s shopping experience. The primary stakeholders in the implementation of the changes were the stockholders and employees, as well as senior and middle-level managers.
Executing a strategy plan is difficult
Management of the differing interests of stakeholders or investors can be difficult for an organization. It is important that stakeholders are convinced of the advantages of the plan in order to get support for the strategic plans (Kennedy and 2020). Stakeholders have different interests. While some stakeholders, such as the management, care about efficiency and growth, others like stockholders focus on share price. Therefore, there may be divergent interests between investors and other stakeholders. Investors may view the uplift or rebranding as too expensive and not related to increasing their share of stock value. This could lead to opposition. To assess whether the suggestions are worth it, the firm might use cost-benefit analyses. It is also possible to assess the program’s viability using a cost-benefit analysis. Pareto and break-even analyses are two additional methods that can help you measure improvement efficiency in your institution.
Problems with the environment
A lack of employee expertise and financial deficit are just some of the possible internal environment obstacles an institution could face during implementation of a plan. Workers may, for example, deliberately interfere with the implementation of a strategy plan if they’re not included fully in it. Changes in rules, alterations in commercial practices, and prevalent societal concerns are the external environmental issues (Reilly & Williams, 2016). The Covid-19 epidemic caused economic instability, which prevented the company from expanding its operations. They had intended to do so, but were unable to afford it. Due to financial constraints, large-scale capital-intensive strategic initiatives can be difficult to achieve.