Cango Week 1 and 2 Video Analysis Report Essay

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Pages: 10

Week 1 & 2 Analysis Report

“Poor strategic planning is worse than no strategic planning. It can be a big waste of time and money” (“Strategic Thinking”, 2011, p.1). Strategic planning plays a very crucial role in helping organizations achieve their goals. The strategic planning process requires both managers and their subordinates to work together as a team to design, plan and implement those goals. We have noticed that there have been some deficiencies in the leadership of CanGo Inc. We have also provided some recommendations for the management team to improve their weaknesses so that the company can continue to stay successful in achieving its goals and launching itself to the online gaming industry. (1) There is a lack of
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According to DeCenzo and Robbins (2010), after creating a mission statement, the company has to analyze its goals to determine whether they can be achieved with the current resources. It can be done by doing a SWOT analysis. A SWOT analysis accesses the company strengths, weaknesses, opportunities and threats. CanGo may have to look at what skills, knowledge, and abilities are available and where a shortage is in terms of people skills or equipment in the company (113). A SWOT analysis not only allows CanGo to make reasonable goals, it also helps the company to analyze other factors, such as strategies and external environment. This can help the company to minimize their exposure to threats. Finally, CanGo should conduct a Cost-Benefit Analysis to find out if the online gaming project is worthwhile to invest. A Cost-Benefit analysis is a simple and widely used technique to help companies to decide whether to make a change. To use this technique, managers simply “add up the value of the benefits of a course of action, and subtract the costs associated with it” (Cost/benefit analysis, 2011, p.1). (2) Within the company, managers should encourage more open communication and adopt a more participative approach throughout the whole planning process. Managers and employees should be able to communicate effectively to each other. A good communication can eliminate confusion in the project. Keefe, the CEO and co-founder of Shared Results International