Assignment 1: Crafting and Executing Strategy
Brittany A. Anderson
Dr. Aikyna Finch
BUS 599
January 20, 2013

Develop an argument supporting the importance of a strategic plan for the success of the defined business.

As Alan Lakein once stated, “failing to plan is planning to fail”. Strategic plans are “expressions of ownership dreams and visions of successful results. Strategic planning functions as the ‘design’ just as a blueprint functions as the ‘how’ to build something. The strategic plan displays the finished product or goal. Usually, in smaller businesses, strategic planning is focused on the overall company, not on a department or division” (Pirraglia, n.d.). What determines the future successes of a company is its present critical decisions. Simply put, without strategic planning, there is no direction for the company which will lead to a collapse in communication and ultimately, a collapse in the business.

Bee-YOUtiful Cosmetics is an affordable, luxury retail cosmetic line that caters to any and every woman. Our mission statement is to provide quality and affordable make-up to enhance beauty, empower women, and enable change. We want our cosmetic line to be accessible to each economic class to promote equality amongst women. Its spelling is unique and pays homage to the bee. Bees are known for being hard-working, diligent, organized, unified, loyal, and devoted. In some cultures, the bee represents the soul. We chose the bee as a representation of our product because that is the example that we want to create for our customers. We also want to ensure that we provide a diverse spectrum of products so that each woman can feel represented. In our eyes, each woman is “Bee-YOUtiful” and we want to instill that message into their minds to spread the message to other women to promote widespread self-confidence. Bee-Youtiful Cosmetics offers a wide range of beauty products ranging from skin care to make-up and nail polish. Bee-YOUtiful Cosmetics is a beauty and cosmetic line with a comprehensive service component that makes our brand diverse, unique, and competitive. Primarily, we have a three-tiered service component including 1.) Skin Care 2.) Cosmetics and 3.) Body Maintenance. From there, each component is further divided into various products depending on the classification. Our ultimate goal is to make every customer feel good because “when a product/service falls below consumers’ expectations, they display negative emotions; if, on the other hand, the offering is perceived to meet or exceed expectations, customers respond with positive emotions. (Oliver, 1993b; Oliver & Westbrook, 1993).

Create a mission statement for the company explaining how the mission will be essential to the company’s success.

Every company has a mission statement. A mission statement explains “why the organization was first created—to meet a need identified” (Radtke, 1998) Bee-YOUtiful’s mission statement is to provide quality and affordable make-up to enhance beauty, empower women, and enable change. Each segment of the mission is vital to its success. 1.) To enhance beauty. Women choose to wear make-up to enhance their beauty. Each woman has a different reason and purpose for wanting to enhance their beauty, but the end result is that our cosmetic line offers each woman the opportunity to do so. 2.) To empower women. According to statistics, “90% of all women want to change at least one aspect of their physical appearance” (Just For Women, 2012). With such an increase in women who are not satisfied with their outward appearance, we want to offer them the chance to at least embrace the beauty of their face and empower them after using our products that they are beautiful, both inside and out. 3.) To enable change. We want to change the way that women think

Create a vision statement for the company explaining how the vision statement supports the company’s mission.

Bee-YOUtiful Cosmetics like each company has a vision statement. Our “vision [statement would] remain intact, even if the market changes dramatically, because it speaks to what [we] represent, not just what [we] do” (---, 2012). In essence our vision statement is simple: we want each year to be more successful than the last and we want to affect and influence more women than the previous year. We plan to do so by interacting with the customer on a daily basis to see what is popular and what could be discontinued. Each product has an assigned number which opens a satisfaction survey. Once opened, the customer will rate the purchased product and then if possible, upload a photo and a testimonial. Upon completion, the customer receives $10.00 off her next purchase. Our vision statement directly supports our mission statement because in offering our product, we are enhancing their beauty. The rating system allows up to create, market, and sell quality products while discontinuing those that do not have high customer ratings. We are all about pleasing the woman and making her feel empowered through basing business decisions off their feedback. As an example, if a large group of women feel that a certain product is too expensive or incapable of meeting their demands, we will take the proper measure to find a way to lower the price or revamp the product. If the above mentioned changes still yield negative feedback, we then would discontinue the product.

Establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business.

First and foremost, Bee-YOUtiful Cosmetics operates on a transparent level meaning each employee ranging from the CEO to the factory workers know the same information ranging from important business decisions to marketing tools and strategies. This is vital to the business because it allows individuals to feel significant regardless of job title. As an example, if a factory worker is aware of the fact that the company is going to expand its brand in another region before the general public that will make her feel important. Her positive emotional attachment to the company will reflect on her work performance and productivity leading to increased production and increased sales. Likewise, if the CEO knows that management is stressed because of its hard and strenuous job activities, she may be more lenient granting them paid vacation, longer lunch breaks, or bonuses as a way to maintain and positive work environment.

On a financial level, the company wants to invest as much money as is needed to ensure the most quality products. Granted, the goal of the company is to make money, but we want to be known as the company who is willing to invest all of its time, money, and resources into making the company a success versus the company who utilized shortcuts to increase its profit at the expense of its customers. Another objective is to grant employees a raise each year based on the company’s success. If sales and revenue increase 5%, each person, regardless of job titles receives a 5% raise. We want to reward each employee for his or her hard work in contributing to the company’s success. In order to ensure that each employee is upholding the standards listed in the strategic and vision plans, it is vital that the company invest money in the best human resources staff. In essence, this department oversees everything from hiring, safety and wellness, organizational duties, and training. Our main objective is hiring those individuals who have master’s degrees in human resource management to guarantee that we are hiring superior quality. Having the best enables the company to excel in all areas in which they are governing. In essence, they guide and direct the strategic and vision plans. Last, but not least, we want to make sure that we retain them as part of our company by offering annual training to ensure that they remain sharp and knowledge in their area. We also want them to stay abreast of any changes that may affect their jobs and their competitors.
Justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment.

We are a company who wants to serve and empower women. The objectives listed above are catered to strengthening the company. In strengthening the company, the company, in turn, provides quality products, goods, and services to its customers, which is the main purpose stated in the mission and vision statements. It is imperative that the company strive to promote 100% customer service and appreciation because the success of the company depends on the customers’ willingness to purchase our products. If we do not consider having an established and qualified human resources team, how can we know that they are leading the company in the right direction? Without happy employees, how can the company strive for quality service and quality products? Even without proper investments into producing quality goods, how can we ensure customers that our products will not cause bodily harm because we are so consumed by saving money? As a company, we have to set standards and at the top of the list, have our customers take top priority. Having the customer be the main priority will ensure a successful business with a lucrative outcome.

SOURCES

Kappa Delta Sorority. "Statistics-Women." Confidence Coalition. 2010. Web. 17 Jan. 2013. .
Mission Statement vs. Vision Statement. N.d. Retrieved on January 18, 2013 at http://www.diffen.com/difference/Mission_Statement_vs_Vision_Statement

Oliver, R.L., & Westbrook R.A. (1993). Profiles of Consumer Emotions and Satisfaction in Ownership and Usage. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 6, 12-27.
Pirraglia, W. "Why Is Strategic Planning Important to a Business? | Chron.com." Small Business - Chron.com. N.p., n.d. Web. 17 Jan. 2013. .
Radtke, Janel. "How to Write a Mission Statement." The Grantmanship Center Jan. 1998: n. pag. Mission Statement. Web. 18 Jan. 2013.