Taser International Inc.
Taser International Inc.
In the process of developing a superior strategic plan, some various important factors must be considered first in or order to ensure that the plans are in accordance with the key statements of the company. These are a mission, vision, people, and the core values. In addition, environmental analysis is essential to conduct to address the internal and external factors affecting the performance the organization. These components act as a guiding principle in the formulation of the strategic plan. Taser international Inc is an organization that deals with manufacturing and distribution of high technology smart weapon, cameras attached to the body, and management solution for digital data. It also trains the legalized law enforcement officers and other authorized private securities on the perfect usage of their gadgets. Since it is a quoted company in the stock exchange, comprehensive research on the environment will aids in the growth of the company’s share prices hence increasing the shareholder wealth.
According to Taser International Inc. (2015), the vision statement of the company is “protect life and protect truth” and the mission is “to prevent conflict, protect life, and resolve disputes through technologies that make communities safer.” To ensure that strategic plan is synchronized with the statements and vice versa, a clear understanding of the nature of the business, vision, and mission is important. Taser Company deals with technological gadgets, and its key theme is to protect the life of the customers using their products. This is evidenced in both of the statement. Therefore, to ensure the safety, the organization should comprehensively gather the feedback from the customers for assessment of the well-being of the gadgets, and determine whether it meets the intended purpose. Hence, the proposed strategic plan should facilitate the accomplishment of the company goals by considering the two guiding statements of the company. Moreover, the aligned strategic plan allows smooth operation of the company without conflicting objectives.
Furthermore, in pursuit of an effective strategic plan, people strategies, and core values are important to consider aligning the plan efficiently. Taser’s core values are majorly inclined to customer satisfaction, quality of the product, innovation, and teamwork. Therefore, the revised strategic plan should as well incorporate these aspects in order to allow cohesion among the key pillars of the company.
Environmental evaluation can be termed as the process of determining all the internal and external factors that impact on the performance of the organization (Jabr & Zheng, 2013). The analysis is based on a number of threats and opportunities. External environment analysis is the evaluation of scenario that occurs outside the company, and it has little or no control over them. These factors are risky since they are unpredictable of their occurrence. Examples of these factors include; economic changes, competition threat, political factors, a requirement from the government, industry within which the company operates, and among others.
The external factors focus on the threats to the company and the opportunity that the company can scoop. SWOT or PESTEL are the common tools used for the analysis of the environment. Taser is a competitive company that has outshined most of its rival due to the innovation in the company. Due to the technological know-how of the company, it has the opportunity to increase its market share and consequently the revenue. However, the company may face a threat from economic and political dynamics, which are hard to predict and control. Therefore, extensive research should be conducted to establish the main threats facing the company and formulate the strategic plan that addresses the issue.
Internal environmental are aspects that happen within the organization, and the company has control over these factors. They may arise from, change in management, the morale of employees, change in the culture, change in the issue of finance and among others (Lekovic, Maric, Djurovic, & Berber, 2014). The internal factors tend to address the issue of strengths and weaknesses in the company. The best tool to evaluate internal factors is also the SWOT tool. Taser International Inc is a huge corporation that has a stable economic power and market share. Therefore, the company may not have common internal factors like finance issues and the morale of the employees. This is because the employees are well remunerated plus other incentives. The company is well endowed with the creative workforce, which has enabled it to stay ahead of the competition; nonetheless, various issues may affect Taser. Hence, a detailed research is necessary to identify the problem accurately so as to develop correctly a strategic plan that focuses on these aspects.
Lekovic, B., Maric, S., Djurovic, S. & Berber, N. (2014). Perception of entrepreneur regarding business environment in Montenegro: Regional analysis. European Scientific Journal, 1, 597- 607.
Taser International Inc (2015). Company profile, Taser International Inc. London. Market Line.
Jabr, W. & Zheng, E. (2013). Know yourself and know your enemy: An analysis of firm recommendations and consumer review in a competitive environment. MIS Quarterly, 38(3), 635-654.