The Company we are using is Intel
When completing the “Internal and External Analysis” assignment earlier in the course project you were tasked with creating three strategic goals for your chosen company. From this assignment forward, you will be choosing one of those goals and carrying it through the strategic management process. Feel free to rewrite and improve the goal, but make your choice wisely. It will impact many of the upcoming project assignments. This assignment will require you to develop a staffing plan to attract, develop, and retain good employees to work on your chosen goal. It’s very important that you’re linking all of your choices to how it will help you accomplish that goal. Everything should be custom fit to that goal and that will be a big portion of the grading. For your staffing assignment, you’ll need to write a detail breakdown of your HR staffing strategies that’s at least two pages in length and addresses the following:
Goal Choice
- Clearly state which of your three goals from your previous course project assignment that you wish to accomplish.
Attract
- What are three traits that you believe employees must have in order to help you accomplish your chosen goal? Explain your choices.
- In detail, identify two strategies that you will use to attract qualified employees to hire.
- How do these strategies fit with your chosen business and chosen goal?
- How will your methods of attracting staff cater to a diverse work force?
- What benefits will your goal in particular gain from having a diverse team working together?
Develop
- Will you train your employees online or face to face?
- How does this choice fit with your chosen business and chosen goal?
- What are two areas that training for new employees should cover? Why did you make these choices?
- What are two areas that training for existing employees should cover? Why did you make these choices?
- How will you design your training to ensure that employees effectively collaborate and work as a team, while valuing diversity?
Retain
- In detail, identify two retention strategies that you’ll use to keep high performing employees.
- What advantages and disadvantages does each of these strategies have?
- What aspects of these strategies address the importance of retaining a diverse team?
Now that you’ve selected the goal you want to accomplish in your strategic management plan, it’s time to start budgeting out the costs that will be involved with its implementation. You need to create an operating budget that takes into account the strategies and choices you’ve already made in previous sections of the course project. It’s important that you carefully consider exactly what you’ll have to spend money on in order to successfully complete your goal. The numbers will be very general estimates, but you’ll need to show the ability to accurately identify the major costs. The categories and subcategories for the budget should cover most if not all of the new expenses that will be present. This assignment should be at least two pages in length and complete the following:
Goal Choice
- Clearly identify your chosen goal in an introductory paragraph.
Operating Budget
- Create an operating budget for your goal.
- The budget should include common categories and subcategories such as general operations, HR, marketing, miscellaneous expenses, etc.
- Include all major expenses required for the goal. Common expenses include salaries, marketing channels, and inventory.
- Connect the costs/categories that you’re considering to your already created marketing, management, and HR strategies discussed in earlier portions of the project.
Capital Budget
- Identify two long-term assets from the capital budget that will play a role in the completion of your goal. These can be new purchases or existing assets.
- Briefly explain the impact that each will have.
Running head SWOT Analysis
SWOT Analysis
SWOT Analysis
Name
Course
Institution
Intel has been leading in the manufacture of microprocessors for the past decades. This success can be attributed to the business strategy that addresses the strength, weaknesses, opportunities and threats (SWOT). SWOT analysis is used to decide the most critical internal strategic factors which are the strength and weaknesses and external strategic factors which are opportunities and threats that influence the performance of the corporation. Intel as a leader in global business must be able to use its strengths and overcome its weaknesses.
Strengths
As the business world is changing more companies are relying on human assets rather than the traditional fixed assets. Businesses are valued based on human capital and one Intel’s strength is being able to hire and retain the best talents in the market. This can be seen on the strength of some of its innovations over the years. Intel motivates its employees and keeps them on toes through rotating them into new positions every 18 to 24 months. This encourages the employees to learn new things and opens up the door for future growth.
Weaknesses
The changes taking place in the technology industry require companies to be able to diversify into new developments taking place each day. The mobile industry’s growth is one of the areas Intel has been unable to make its presence felt. (Ferguson, 2017). There have been attempts to penetrate the mobile market like the pilot project with ZTE Corporation and Google. The company relies heavily on windows machine and this partnership with Microsoft has made it impossible to focus on development of other products for other markets.
Opportunities
Intel’s growth is also dependant on external factors like available business opportunities. The mobile market offers new business opportunities for the company. Intel has gone ahead and developed products that would help in penetrating the market. Intel’s Atom microprocessor was developed for Google’s android 2.3 and also the introduction new mobile processor technology in June 2011. The company’s sociacultural factors are influencing its business environment in a positive way. The company interacts with its followers and customers via social media and the internet has made it possible for the company to create better products and hence create opportunities for online communication and network gaming. (Ferguson, 2017). There various economic factors that have created opportunities for the company. Developing markets are growing at a faster rate trying to catch up with already established markets. This creates opportunity for Intel due to increased purchase rates in these markets. Other factors include an increase in disposable income which has also increased purchasing power and stable economies in developing markets. All these create opportunities for the company to thrive.
Threats
Legal issues are the major threats affecting Intel Corporation. The company recently was sued by over 30 shareholders and customers over security flaws in their microchips. Over the years the company has had to settle outside the court after facing lawsuits over intellectual property. The growth of mobile market has led to most of Intel’s competitors to invest heavily into product development which is a major threat to the company that is trying to penetrate the mobile market.
The SWOT analysis is beneficial in trying to find solutions for the weaknesses and finding ways to deal with the threats. In also assist in capitalizing on the strengths and available opportunities. The analysis has led to the below strategic goals for the company;
· Increasing market share in the mobile market.
· Increasing sales
· Increasing our product line to match the needs of all our clientele.
References
Edward Ferguson. (2017). Intel Corporation’s SWOT Analysis & Recommendations. Retrieved from http://panmore.com/intel-corporation-swot-analysis-recommendations
Hitesh Bhasin. (2019). SWOT Analysis of Intel. Retrieved from https://www.marketing91.com/swot-analysis-intel/
Abhijeet Pratap. (2019). HUMAN RESOURCE MANAGEMENT AT INTEL. Retrieved from https://notesmatic.com/2019/06/human-resource-management-at-intel/
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