`

In partial fulfillment for the course

INEN 30193: STRATEGIC PLANNING AND DEVELOPMENT

2ND Semester A.Y. 2020- 2021

STUDYING HUMAN PERFORMANCE

Submitted by:
Abrenica, Leedor John
Alladel, Angela Mae
Basio, Sean Andre
Mangabat, Kimberly
Manimtim,Viel Jusmeen
Mercado, Carmela
Mitra, Danniel Lorenzo
Montero, King Ivan
Orindain, Jheen Hazel
Rivera, Alexandro
Señadoza, Angela Beatriz

Submitted to:
Engr. Ruel M. Tuan

JUNE 2021
 TABLE OF CONTENTS
Page

Title Page i
Table of Contents ii
Company Name and Background iii
Organization Chart iv
Strategy Map v
List of Tables vi
List of Figures vii

Element 1 EXTERNAL INPUT GATHERING

Pestle Analysis #?

Element 2 INTERNAL INPUT GATHERING

SWOT Analysis #?

Element 3 VISION STATEMENT SETTING

Vision #?
Mission #?
Values #?

Element 4 CREATING OBJECTIVES AND USING A STRATEGY MAP

Customer/Stakeholder #?
Service/Programs #?
Processes #?
People/Knowledge #?
 Financial #?
Element 5 STRATEGIC PERFORMANCE MEASURES

INPUT 1: Customer #?

INPUT 2: Service #?

INPUT 3: Processes #?

INPUT 4: People #?
INPUT 5: Financial #?

Element 6 STRATEGIC INITIATIVES

INPUT 1: Customer #?
INPUT 2: Service #?
INPUT 3: Process #?
INPUT 4: People #?
INPUT 5: Financial #?

Element 7 IDENTIFYING STRATEGIC RISKS

INPUT 1: Customer #?
INPUT 2: Service #?
INPUT 3: Process #?
INPUT 4: People #?
INPUT 5: Financial #?

Element 8 MANAGING A STRATEGY

Project Timeplan Implementation (Gantt Chart) #?

Company Name and Background

MAID in the Philippines,Inc.

Mitigating Abundant & Inapt Dirt without compromising Quality

MAID in the Philippines, Inc. was established in 2021 to provide cleaning services such as
Deep Cleaning, Post-Construction Cleaning, Disinfecting and Sanitizing. The company imparts training
and certifications to our Cleaning Buddies to enhance their professional skills, safety and management
which give us the credibility to proudly give customer satisfaction. As we thrive to promote diversity
and equality, our services focus on strengthening the skills and capabilities of any gender, race, color,
or religion. Maid in the Philippines, Inc. value the safety of the clients inside their home and work area
by choosing cleaning products carefully and don’t allow harmful chemicals which can also harm the
environment. In addition to the current pandemic we are facing today, the company provides an annual
Biohazard Training Program, specifically the Bloodborne Pathogens Program Management of OSHA
that helps our workers to gain the proper knowledge and reduce the risk of accidental exposure to
contaminated materials. An essential advantage of the company is the practice of using
high-technology equipment, ensuring the utmost quality services we can offer to clients. We presently
serve both the residential and commercial market, satisfying the clients and exceeding their
expectations with an array of quality cleaning services.

Company Location and Information

#73 2nd Floor, ABC Building, Kalayaan Avenue, Makati 1210

Telephone Number: + (8)123-0073 / 09553780906
info@maidinthephilippines
www.maidinthephilippines.com
Figure 1. Organizational Chart
Figure 2. Strategy Map
LIST OF TABLES PAGE

1 PESTLE Analysis
2 SWOT Analysis
3 Price list
4.1 Customer/Stakeholders
4.2 Service/Programs
4.3 Process
4.4 People/Knowledge
4.5 Financial
5 Scoring Criteria
6 Scoring Criteria Summary
7 Risks Prioritization
8 Mitigation Plan

LIST OF FIGURES Page

1 Organizational Chart
2 Strategy Map
3 General Steps
4 Strategic Initiatives
5 Risk Assessment Summary
Element 1 EXTERNAL INPUT GATHERING

Table 1. PESTLE Analysis

POLITICAL

Government and law enforcement agencies have an impact on an organization's infrastructure.

Under the minimum wage rates set under Chapter V of Title II of Book Three of the Labor Code, as
amended by the Wage Rationalization Act, all workers and employees in the private sector, regardless
of the position, designation, or status, shall be paid according to law. Also, the Labor Code of the
Philippines is implemented to help protect employees, ensuring that no one is subjected to unfair
treatment. No employee in the Philippines must work for over 8 hours a day; therefore, a work
regulation is important. Taxation is another factor to analyze, considering the tax rates and incentives
of the company. Due to the complexity of pricing regulations of services, learning more accurate
pricing methods can lead to a great deal of the company's bottom line.

ECONOMIC

Considering the economic factors before starting a business is important because it helps
decide a better marketing strategy. A rise in any economy's inflation rate would impact how firms price
their products and services that would, later on, affect the purchasing power of the consumer. The
income of potential clients also should be considered because it too is affected by the rate of inflation.
It may rise or fall over time, and the company must be ready to deal with the fluctuations. A more
stable income of the target market will enable more people to use our service. The unemployment rate
due to the Covid 19 pandemic should also be taken into consideration as this would also determine
the number of people that could avail the services of the company. The company should know the
employee salary trends in the service business industry as well, as this would be their guide to how
they would pay their employees.

SOCIAL

Social factors examine the market's social environment and assess market determinants such
as cultural trends, demographics, etc. COVID-19 brought in an age of remorseless uncertainty, and
every industry throughout the country is now grappling with how to confront the pandemic responsibly
while keeping companies afloat. Concerns about the coronavirus have brought cleanliness to the
forefrnt of everyone's minds, which means that cleaning firms are doing well. Commercial cleaning is
one of those businesses that will be able to survive and maybe grow in this new normal as we work to
either beat this virus or apply the best techniques to live with it while still going forward. Also, people
are becoming self-reliant and career-oriented throughout time. It is becoming difficult for most of our
country's working people to keep their homes nice and clean while juggling their busy daily schedules,
and this could have a favorable impact on the business. In line with this, the target market should be
households, offices, condominiums, apartments, and establishments that need and want deep
cleaning services.

TECHNOLOGICAL

Technological factors refer to technological advancements that may positively or negatively

impact industry and market operations. It relates to automation and a market's level of technological
awareness. Since mobile technology has spread rapidly worldwide, it is evident that smartphones
have become an essential part of everyone's lives. Producing a user-friendly mobile app and website
that they can use to avail themselves of our company's services is important. Also, making sure that
the equipment to be used is of high quality will benefit the company in the long run. Social media are
internet services that allow you to communicate with people and share and produce content through
online communities. It provides excellent marketing opportunities for companies of all sizes. Proper
utilization of social media for promotion allows the company to reach more prospects and customers.

LEGAL

Under the legal factors are some laws that the company should uphold. The Philippine
government adopted RA 7394 (the Consumer Act of the Philippines of 1991) as the nation's legal
structure for consumer protection. The Act aims to protect the "interest of the consumer, promote his
general welfare and establish standards of conduct for business and industry." Workers' rights cover a
wide range of human rights, including the right to decent employment and freedom of association, as
well as equal opportunity and protection against discrimination. Adding to this, the company should
comply with the Occupational Safety And Health standards and guidelines at all times to protect
workers against the dangers of injury, accidents, sickness, and death. Service waiver should be
provided to ensure the security of the client's belongings against theft and to develop an ethical
worker-client relationship. The Health and safety of the clients, as well as the employees, should be
the utmost priority; thus, safety protocols should be implemented and followed. Failure to comply with
these laws and regulations can affect how a company operates, its costs, and the demand for its
services.

ENVIRONMENTAL

Adequate understanding of the possible consequences of climate change influences how

businesses function and the products or services they offer, generating new markets and eliminating
current ones. In line with this, the company must ensure that they only provide environment-friendly
services that use chemical-free cleaning materials and solutions. Also, the company should devise a
proper method to dispose and segregate wastes in compliance with the local government’s guidelines.
Proper implementation of these practices will help the company gain brand value and increase
sustainability for the company.
Element 2 INTERNAL INPUT GATHERING

Table 2. SWOT Analysis

SWOT Analysis

A SWOT analysis identifies your (internal) Strengths, Weaknesses, (external) Opportunities

and Threats to assist your organization in making strategic plans and decisions. This analysis is a way
of assessing the positive and negative forces within and outside your organization to be better
prepared and to act effectively.
The following SWOT analysis shows the key strengths and weaknesses within the company,
and describes the opportunities and threats facing M.A.I.D in the Philippines Inc.

Strengths

- Management committed to identifying and attending to our customer needs.

- Offer low rates with excellent services.
- Composed of well-trained and dedicated workforce.
- Uses a web-based communication portal that can be easily accessed by the customer and
tracks our own internal inspection reports.
- Management motivated by customer satisfaction, recognition and rewarding our staff.
- Uses high-technology equipment.

Weaknesses

- Labor-intensive industry.
- Essential time lag building goodwill and trust.
- Access to capital for sustained growth necessary to compete at a competitive price point.
- Difficulty in establishing brand equity and identity as a start-up company.

Opportunities

- Possible expansion of the company to different areas or cities due to the annual growth.
- Increasing demand for cleaning services due to increased public concern over health.
- Employee referral program.
- Possibility to be the standard of cleaning services.

Threats

- New competitors are appearing in the market with lower prices.

- Difficulty in acquiring contracts from establishments that already have a cleaning service.
- Possible rising in the price of safe cleaning products to protect the environment.
- Low income due to the current pandemic situation.
Element 3 VISION STATEMENT SETTING

Vision

To be the leading cleaning services company in the Philippines, that is highly committed in
providing the best solutions to suit our client’s exact needs.

Through the company’s excellence, we aim to be the largest, the most trusted, and innovative
by offering the latest techniques and equipment to keep people’s homes and work spaces
orderly.

Mission

M.A.I.D. in the Philippines is committed to provide clients with a professional cleaning service,
as well as exceeding the expectations of our clients through continuous improvements of
quality, strategic growth and services.

To continue to be the most preferred company in the cleaning industry nationwide.

Values

Respect: Maid in the Philippines, Inc. is where all staff and cleaners are well-respected on
their merits, understanding and respecting everyone’s choices.

Responsibility: We seek to act with integrity for our staff, our clients, the community and the
environment.

Commitment: Our company is committed to our vision, mission, and values to provide the
top-notch services the clients need.

Caring: An obligation to care for our staff, our clients,and the environment.

Excellence: We strive to provide the highest quality cleaning services to our clients having the
best customer service.

Innovation: To effectively ensure growth of the company, we study the latest techniques and
invest in tools and equipment that will continuously improve the quality of our services.
Element 4 CREATING OBJECTIVES AND USING A STRATEGY MAP

Customer/Stakeholder
(CATERING NEEDS WITH SENSE OF FULFILLMENT)
Objective: To cater customers cleaning and organizing needs with a sense of fulfillment.
Given the health and safety problems that we have today, our company aims to provide
holistic, innovative, and modern cleaning services with our state of the art equipment and our
hard-working and well-trained cleaning buddies.
The company aims to provide adequate cleaning services to the following entities:
● Individuals who cannot attend to their cleaning chores due to their busy schedules.
● Organizations in need of extra-hands in cleaning and organizing their assets.
● Health-conscious individuals that need timely and effective cleaning services as protection
from the COVID-19 virus and other health hazards.
Services/Programs
(ATTAINING QUALITY SERVICE THROUGH CONTINUOUS IMPROVEMENT)
Objective: To attain quality service through continuous improvement
Our company offers general cleaning services and equipped our cleaning buddies with the
right tools and machines. The company aims to provide the following services:
● Deep Cleaning - this service aims to clean and organize every inch of your area and
spaces. This service includes:
- Brush and spot clean ceiling, crown molding, and light fixtures
- Clean walls, window ledges, and baseboards
- Polish windows, mirrors, glass panels, and glass doors
- Polish doors, door frames, tables and chairs
- Clean cabinets, shelves, and drawers
- Polish kitchen and bathroom countertops, fixtures, and fittings
- Vacuum upholstery and carpets
- Vacuum and clean screens and window/sliding door railings
- Vacuum and mop floor
- Steam clean floor

● Post-Construction Cleaning - Our Cleaning Buddies are here to help get your new space
fresh, clean, and move-in ready. This service includes:
- Brush and wipe ceiling, crown molding, and light fixtures
- Clean walls, window ledges, and baseboards
- Polish windows, mirrors, glass panels, and glass doors
- Polish doors and door frames
- Clean cabinets, shelves, and drawers
 - Polish kitchen and bathroom countertops, fixtures, and fittings
- Vacuum and clean screens and window/sliding door railings
- Vacuum and mop floor
- Remove paint drippings and adhesive stains
- Steam clean floor

● Disinfecting and Sanitizing - In the midst of any outbreak, epidemic or pandemic, the
public's health can be at risk and might be compromised. M.A.I.D. in the Philippines offers
disinfecting and sanitizing services. This service includes:
- Steaming
- Hospital-Grade Disinfection
- Fogging and Misting
- UV Light Disinfection

Processes
(MANAGING AN EFFICIENT AND SYSTEMATIC SERVICE)
Objective: To manage an efficient process and systematic approach of service
Through proper management, we accomplish tasks in a timely manner. To ensure that our
process will be efficient and systematic we follow the standard operating procedure at all times. We
also apply the JIT principle to produce excellent service and avoid making waste.

Figure 3. General Steps

People/Knowledge
(TRANSFORMING COMMUNITY THROUGH EXCELLENCE)
Objective: To transform our community through excellence
We highly assure that our cleaning buddies are skillful and thoroughly equipped to take the job
and perform as a whole with the objective of delivering an excellent service to our valued customer.
The following were considered:
 ● Biohazard Training - Our Cleaning Buddies are provided with Biohazard Trainings as
an integral component in keeping them safe and prepared to deal with biohazards
safely and effectively.
● Higher Level of PPE - We equipped our Cleaning Buddies with a higher level of
Personal Protective Equipment worn to minimize exposure to hazards that may cause
serious workplace injuries and illnesses.
● Household Training Program - We teach our cleaning buddies with fundamentals of
standardizing and professionalizing cleaning

Financial
(GENERATING REVENUE AND ACCEPTABLE RETURN OF INVESTMENT)
Objective: To generate revenue and acceptable ROI
Aside from giving a quality service we also aim to generate revenue and acceptable Return of
Investment. To make better business decisions, a frequent monitoring of financial reports will be
conducted to identify areas of concern. In addition, we will also apply tax optimization to reduce and
eliminate tax liability thus making tax-efficient decisions. We also plan to implement qualitative
performance measures for our tangible and intangible assets. Prioritizing financial planning will help us
to reach our objective which is to generate revenue and acceptable return of investments. To achieve
this we also considered these prices for our three services.
Table 3. Price List
Element 5: STRATEGIC PERFORMANCE MEASURES

Strategic Performance Measures assist organizations in defining and achieving

strategic objectives, aligning behaviors and attitudes, and, as a result, improving
organizational performance. To effectively use the strategic planning, it is first necessary to
assess how the organization is currently operating. Throughout the implementation of
strategic planning, performance measures are examined to verify that the organization is
effective and reaching its goals.

The following are the key performance measures for each objective of M.A.I.D in the
Philippines Inc.

INPUT 1: CUSTOMERS

Table 4.1 Customer

INPUT 2: SERVICE

Table 4.2 Service

INPUT 3: PROCESSES

Table 4.3. Processes

INPUT 4: PEOPLE

Table 4.4. People

INPUT 5: FINANCIAL

Table 4.5. Financial

Element 6 STRATEGIC INITIATIVES

Figure 4. Strategic Initiatives

 Scoring Criteria

Importance Rating 5 4 3 4 5 3
Time
Degree of Impact on
to Capabilit Scor
Candidate Strategic Initiatives object Measure Risk Cost
Impa y e
alignment ment Gap
ct
Customer
1. Establishing a customer service
function to handle customer 4 5 3 2 4 4 89
inquiries.
2. Use CSAT surveys to measure
5 5 3 3 4 2 92
and improve customer satisfaction.
3. Providing multichannel
3 5 4 4 5 5 103
assistance
4. Establish a customer loyalty
4 5 3 3 3 4 88
program.
Service
5. Forming a service improvement
5 2 2 4 5 5 95
committee or team.
6. Establishing service standards. 5 4 4 3 4 2 91
7. Make customer interactions more
3 5 1 4 2 4 76
personalized
8. Improving customer satisfaction
by incorporating technological 5 4 3 2 4 5 93
advancements into equipment.
Process
9. Create a set of standard work
5 5 4 3 4 3 98
instructions.
10. Using ISO 9001:2015 to provide
products and services that
5 5 3 1 5 4 95
consistently meet the needs of
customers.
11. Develop a strategy and timetable
for a group review of the process's
3 4 2 2 3 3 69
plans and outcomes that needs to
be improved.
12. Identify any potential problems
3 3 2 3 4 2 71
that may arise during the
 implementation stage.
People
13. Exercising control on the
5 5 3 5 4 4 106
workforce's performance
14. Hold an effective training
session to align knowledge, skills,
5 2 3 4 5 5 98
values, and abilities with the
changes.
15. Creating and implementing a
program to recognize and reward 3 4 4 4 5 4 96
service.
16. Examining the use of
personality tests in the recruitment 3 3 4 3 4 1 74
of new employees
Financial
17. Keep a close eye on financial
3 4 4 3 3 2 76
results and look for any red flags.
18. Making tax-efficient decisions to
reduce or eliminate your tax liability 5 4 3 1 4 5 89
through tax planning.
19. Using qualitative performance
indicators for the company's 3 3 3 2 3 3 68
tangible and intangible assets.
20. Making financial planning a
4 3 3 2 5 5 89
priority

Table 5. Scoring Criteria

 SUMMARY
Priority Ranking Initiative Name
1 Exercising control on the workforce's performance

2 Providing multichannel assistance

3.5 Create a set of standard work instructions.
3.5 Hold an effective training session to align knowledge, skills, values, and
abilities with the changes.
P5 Creating and implementing a program to recognize and reward service.
6.5 Forming a service improvement committee or team.
6.5 Using ISO 9001:2015 to provide products and services that consistently
meet the needs of customers.
8 Improving customer satisfaction by incorporating technological
advancements into equipment.
9 Use CSAT surveys to measure and improve customer satisfaction.
10 Establishing service standards.
12 Establishing a customer service function to handle customer inquiries.
12 Making tax-efficient decisions to reduce or eliminate your tax liability
through tax planning.
12 Making financial planning a priority
14 Establish a customer loyalty program.
15.5 Make customer interactions more personalized
15.5 Keep a close eye on financial results and look for any red flags.
17 Examining the use of personality tests in the recruitment of new employees
18 Identify any potential problems that may arise during the implementation
stage.

19 Develop a strategy and timetable for a group review of the process's plans
and outcomes that needs to be improved.
20 Using qualitative performance indicators for the company's tangible and
intangible assets.

Table 6. Scoring Criteria Summary

CUSTOMER

1. Creating a customer service function to handle customer requests.

Customer service is important because it sets your business apart from competitors and can
make people loyal to your service for the coming years.

2. Measure and improve customer satisfaction with CSAT Surveys

It can implement the necessary improvement initiatives before customers abandon the brand. It
regularly measures customer satisfaction and evaluates the impact of a company’s efforts to improve
customer satisfaction. If satisfaction increases, it’s clear the company is moving in the right direction.
CSAT is the most intuitive indicator of customer satisfaction.

3. Providing multi channel support

Companies must develop an omnichannel approach to their customer service in order to

connect with customers on the channels they prefer to use. Multichannel support not only offers
customers a seamless transition between channels; it also prevents them from having to repeat
information they may have already provided to different call center agents, which can be both irritating
to customers and potentially damaging to a company’s reputation.

4. Create a customer loyalty program

A customer loyalty program should reward customers for their continued commitment. The
more they shop and interact with your business, the more they're rewarded. This keeps customers
happy because they're getting more from the experience than just your service.

SERVICES

1. Creating a service improvement team or committee.

Service improvement committee may help monitor the services offered by employees to the
customers. In order for a company to gradually make improvements, they need a team that will
monitor if the services they have offered to their customers are better than before.

2. Developing service standards

Service standards are significant for customers, potential customers, employees and the
executives of a business. They help to characterize what a client can expect and to remind the
executives and employees to remember the difficulties and commitments that they face.

3. Personalize customer interactions

Personalization is about connecting with customers on a personal level and making them feel
like you know them and understand what they love. The idea is to make customers feel unique and
significant.
4. Adapting technological advancements to equipment to ensure customer satisfaction

Technology can track and measure the customer's online footprints that highlight precious
insights into what the customer wants, what motivates them and the sort of products/services they're
interested in. You can now track your customers' online and offline activity to build a better picture of
their behavior.

PROCESS

1. Develop standard work instructions

Developing standard work helps to reduce variation and minimize the defects by creating a
universal standard that employees actively engage with and to give them a clear understanding of
where their actions deviate from the set process. These easy-to-follow instructions improve employee
comprehension and retention of procedural information.

2. Applying ISO 9001:2015 to consistently provide products and services that meet the needs
of customers

ISO certified management systems can help you improve processes, reduce costs, and
enhance customer confidence in your services. Gaining ISO certification demonstrates your
commitment to quality and employee training. This in turn can help you win tenders and retain existing
customers.

3. Create a strategy and a schedule for a group review of the plans and outcomes of the
process that is needed to be improved

A strategic plan needs to be adaptive to survive changing or unanticipated conditions. An

organization that develops and executes a strategic plan gains significantly from the experience, and
starting with a working model and then building a tangible plan can be more successful for your
organization than having no plan at all. Over the life of your strategic plan, you may discover that some
of the underlying assumptions of your strategy are flawed or incomplete. Often your organization’s
mission and vision may remain the same while your objectives and goals will need to be revised or
updated. When this happens, you will need to either adapt your strategy or begin the process over
again. But don’t let it be a pitfall for you. Some organizations can maintain a strategic plan for a year or
longer, while others have to respond to market changes more frequently. Whatever your situation, just
be prepared to let go and switch strategies as necessary. Corrective action needs to be taken quickly
to compensate for the dynamic business environment most organizations operate within.

4. Determine the specific issues that may arise during the implementation stage.

Implementation is the process that translates strategies and plans into actions in order to fulfill
strategic objectives and goals and during the implementation stage, most issues are recognized.
Managing specific issues is no different than managing a project with that it requires a process and a
plan to implement the strategy. Communication with team members and other parts of the company,
the use of information technology solutions, the creative use of employees and flexible schedules, and
the acquisition of extra resources can all help to overcome identified challenges.
PEOPLE

1. Develop an engagement worker scoreboard to boost the morale of the employee

A great way to boost engagement and gain employee insight into employee feelings is to
conduct an Employee Engagement Survey. When employees are engaged with their work, they’re
more fulfilled and more motivated. When employees truly feel they have a voice, via these tools, the
company-employee bond gets stronger.

2. Conduct an effective training session to align with the changes in terms of knowledge,
skills, values, and abilities.

As technology advances and workplace methods and strategies improve, there comes a need
for employers and employees to align with these changes in terms of knowledge, skills, values and
abilities. One of the best ways to enhance knowledge and skills is through training. Getting employees
exposed to relevant and consistent training can help companies improve performance and increase
results in the workplace. In this article, we explain the importance of training employees and provide a
list of potential benefits.

3. Developing and implementing a service recognition program

Organizations adopt employee recognition programs to raise employee morale; attract and
retain key employees; elevate productivity; increase competitiveness, revenues and profitability;
improve quality, safety and customer service; and reduce employee stress, absenteeism and turnover.

4. Considering the use of personality tests in hiring employees

A personality assessment beats the traditional methods of gathering information and provides
recruiters with objective insights that significantly improve the candidate selection. Research shows
that personality measures are useful predictors of future job performance and questionnaires based
on the scientifically proven "Big Five" theoretical model, for instance, provide insightful information
about how the candidates’ personality will impact their workplace behavior allowing recruiters to
understand how candidates relate to others, how they approach and solve problems and how they
manage their emotions.

FINANCIAL

1. Monitor financial results on a regular basis and identify areas of concern.

Monitoring financial performance on the other hand provides key insights that help you answer
questions about your business like: What are the most and least profitable areas of the business? Is
the business gaining or losing financial strength? Am I performing in line with my objectives and
business plan? What price point maximizes profits? How much cash will the business generate over
the next 12 months? How did we perform this month compared to last month? Success in business
comes down to how successful we are in answering these types of questions and making correct
decisions based on what we’ve learnt. By monitoring performance and gaining these types of insights,
you’re inevitably able to make better business decisions and improve your business’s performance
over the long term

2. Applying tax optimization to reduce or eliminate your tax liability by making tax-efficient
decisions

Tax optimization is the process of lowering or eliminating your tax liability by making
tax-effective decisions. Financial planners help their clients with tax planning in a variety of ways. Tax
optimization is the process of making choices that lead to the best outcome for your current and future
tax liability.

3. Implementing qualitative performance measures of the company’s tangible and intangible

assets or Measuring the tangibles and intangibles to understand and improve innovation
management

Measuring items such as service quality and customer satisfaction encourages long-term
financial success by increasing levels of customer loyalty. As service levels improve, customers are
more likely to continue patronizing an organization. Forming strong relationships between a company's
staff and its customers encourages repeat business and might lead to higher levels of employee
satisfaction and retention.

4. Prioritizing financial planning

Financial planning will direct your efforts, mitigate risks, and bring you closer to your objectives.
Through this process we'll learn about your company's strengths and how to use them to stay
competitive and meet financial targets. Moreover, it helps you anticipate future challenges and threats,
improves budget control, and provides the data you need to make sound financial decisions.
Element 7 IDENTIFYING STRATEGIC RISKS

This section shows the identification, prioritization and mitigation of the risks. The most typical
approach of risk identification is to incorporate it into strategic planning procedures. All identified risks,
its priority level and mitigation plan are obtained as a result of brainstorming. Below is the strategic risk
prioritization.
 Table 7. Risk Prioritization

Figure 5. Risk Assessment Summary

 MITIGATION PLAN

Customer/Stockholder

RISKS ACTION RECOMMENDED

Begin by forming a small customer service

Higher wage cost from hiring experts in department. Hiring more professionals for
customer service this job role as the company's profit grows
can reduce the risk.

Through multichannel support, create a

Customers who have been neglected due
web notice or poster that displays
to limited customer service hours will be
information about the customer service's
dissatisfied and unhappy.
working hours.

Customer service representatives must be

Customers may be skeptical and refuse to well-trained. Starting on how to greet the
participate in CSAT surveys. potential participant and how to execute
the survey.

(a) Since repetition is one of the effective

marketing strategy, repetitive content
should be delivered in a unique way that is
Repetitive information may lead to
distinct from previous material.
customer’s irritation.
(b) Repetitive information must have
different approach on how you will present
the information to your customer

(a) Study security threats

Technical errors may be encountered while
(b) Analyze each channel and establish
using the chosen channel.
maintenance program.

(a) Always establish a good relationship

Past loyal customer cannot guarantee with the customer.
future profitability (b) Accomplish a service that satisfies the
customer's needs and expectations.

Service
 (a) Effective leadership is recommended as
a good leader creates confidence among
his subordinates and effectively resolves
Lack of coordination between team
differences, if any, of the people working
members
under him.
(b) Team building and any other team
leadership program

(a) Establish the business that allows the

employees to be motivated to come to
work and enjoy the environment they’re in.
Help the employees understand the
Miscommunication and misunderstanding
direction of the company for them to be
within the team
able understand their purpose
(b) Provide a team-building program to
assist employees in forming positive
relationships.

Employees lack of training Provide training programs

Customers might feel uncomfortable Building customer’s trust.

Disengagement of customer because of

Putting regular meetings with the customer
overload suggestions during interaction

Process

Human error like forgetfulness and

Upscale and train staffs.
inattention

Multiple interpretation on each instruction Make instructions simple and clear

Unaddressed issues due to the person in

Proper training for the person in charge
charge's inattention.

People/Knowledge

It may be difficult to retain employees if Explaining the monitoring process to the

monitoring seems intrusive. employee.
 Allowing employees what type of data is
Employees may feel their privacy has been being collected from them. And, ensuring
devalued or violated. that data privacy act is being implemented
within the company

Making sure that they are engage and

Employee morale drops making and part of decision making.
Identify career drivers as of the moment

Employees lost of interest to long hours

Make training more engaging
training session

Employees who aren’t recognized for their

accomplishments may feel offended and Make sure meritocracy is part of
ignored, leading to disengagement or company’s culture
claims of discrimination

Some aspects of people's personalities are

overemphasized, while others are Make sure meritocracy is part of
underemphasized, misplaced, or omitted in company’s culture
personality assessments

Encourage potential employees to be

People poor judgement when it comes to
engage in any programs that helps them to
their own personalities
know better their personalities

Financial

Spreadsheets are susceptible to human

Putting a maker-checker process in place
error resulting multiple version of truth

Employees resistance to change to the Making sure that process improvement is

company’s innovative management part of the company’s culture

Table 8. Mitigation Plan

Element 8 MANAGING A STRATEGY
Figure 6. Gantt Chart