Week 3 Journal
Name of Student
Name of Course
Instructor’s Name
Name of Institution
Date
An analysis of quarterly reviews is useful in helping managers have an understanding of the present state of the markets and their company. Quarterly reviews are also useful in helping managers prioritize and identify the best initiatives for the upcoming quarters. In the week’s activity, I have learned the difficulties of achieving any organizational goal without a plan. A quarterly review is a plan where an organization’s management may look for a team to review the current state of the entity’s performance and long-term goals. In the week’s activity, I have learned that quarterly review analysis is important in assessing results, executing strategies, and realigning goals to be a fair reflection of the current company’s operations. Effectively analyzing the previous business quarter gives the business an opportunity to understand the client’s needs and strategize on the ways to satisfy the needs (Uggla, 2015). A well-analyzed previous business quarter is an important option for an organization to launch other business opportunities. In the previous quarter, the business may have overstated or understated its ambitions hence the need to strategize through an analysis of the quarter.
In the week’s activities, I have realized the importance of making adjustments to the previous quarter’s operations as a way of influencing the organization’s outcomes. An analysis of the previous quarter performance should involve a review of the organization’s key performance index (KPI). Reviewing the KPI is important in knowing the organization’s previous achievements and adjusting the organization’s sectors that did not perform well. KPIs from the previous quarter should also be adjusted and become a true reflection of the present market and organizational performance. I have learned that adjusting the organization’s previous quarter’s goals is necessary to achieve the organization’s long-term goals. An analysis of the previous business’ quarter is important in making an organization develop a strategic plan for realizing its long-term dreams. Reviewing the previous business operations is essential in making the business determine its position in the industry. Internal and external audits are important in making the organization aware of their competitive environment, their competencies, and competitive environment. The analysis of the outcome of previous business quarters helps the organization identify and focus on what is important for the organization’s long-term goals (Decker et al. 2012). In the week’s activity, I have learned that an organization that focuses on its long-term mission is subject to high performance as the managers are well aware of the direction the organization should take.
I have learned analysis of the outcome of previous business outcomes is important in guiding the future and growth of a business. For a business to meet customer’s needs and gain a larger market share, it needs to prioritize improving customer experience as a way of influencing its strategies. A review of the outcome of previous business performance is also important in defining and enhancing the customer experience. I have learned that customer experience defines the customer’s perception of the brand and entails the interactions each individual has with the business (Crittenden & Crittenden, 2017). Interactions such as packaging labels and social media posts are useful in assisting the organizations to the brand. Effectively analyzing outcomes of the previous quarter is useful in identifying market trends and how the organization can align its strategy to such trends.
References
Crittenden, V. L., & Crittenden, W. F. (2017). Building a capable organization: The eight levers of strategy implementation. Business Horizons, 51(4), 301-309.
Decker, P., Durand, R., Mayfield, C. O., McCormack, C., Skinner, D., & Perdue, G. (2012). Predicting implementation failure in organization change. Journal of Organizational Culture, Communications and Conflict, 16(2), 29.
Uggla, H. (2015). Aligning Brand Portfolio Strategy with Business Strategy. IUP Journal of Brand Management, 12(3).