...Strategic Plan Part 1 Business 475 September 23, 2014 Strategic Plan Part 1 Strategic Plan, Part 1: Conceptualizing a Business The information that will be provided in this paper will give information about a new type of restaurant in the industry, ME Cafe. ME Cafe with provide food for all walks of life. It will cater to specific needs, wants, and desires of each of their customers at an affordable price. The information within this document will cover the mission statements, vision statements, and the values in addition to how these steps will assist the company in determining their strategic direction. “ A strategic business plans assist companies in defining their mission and vision, helps them define their purpose and direction setting them apart from their competitors,” (Pearce & Robinson, 2009, “p” 57). Creating a sound mission and vision statement allows the consumer, employees, stockholders, and competitors to see where the company is presently, potential goals, and their plan to achieve their goal. Concept for ME Cafe ME café will provide natural, fresh and organic to a large variety of flavour’s and fillings, themed appetizers, sandwiches, wraps and other menu items specifically designed to meet each consumer’s needs, wants, and desires at an affordable price within the Food service industry. Our options will include gluten, egg, and dairy free, in addition to other special dietary needs. Business hours are 5 a.m. to 10 p.m. Tuesday through Sunday...
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...Due to solid growth plans for the future, and evolving with continuous changes Starbucks Corporation has celebrated 40 years of success. Starbucks focuses on expanding to build a truly global consumer company “by harnessing a power portfolio of brands with a unique business model, combining a global retail footprint with a significant Consumer Products business, and leveraging direct customer engagement that drives growth across all channels globally” (Starbucks.com). Starbucks is constantly planning strategic initiatives on how to increase sales. According to Starbucks’ 2011 annual report, it has joined forces with popular companies in an effort to increase profit. Forming a relationship with well -known companies, such as Courtesy Products and Green Mountain Coffee Roasters will open the doors to other opportunities previously unavailable to Starbucks. Courtesy Products sells Tazo tea and provides other coffee services to hotels, which results in a logical working relationship with Starbucks. “The single-cup segment is already a $1.6 billion segment that represents a significant growth engine for the entire U.S. coffee category. We believe that over time we can generate K-Cup portion pack system sales in excess of $1 billion across all channels” (Starbucks.com). Starbucks and Courtesy Products plan on providing Starbucks products to 500,000 luxury and premium hotels in the United States by offering Starbucks coffee to the on-demand single cup brewing systems currently...
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...Strategic Plan 2010–2015 Strategic Plan 2010–2015 Foreword This Strategic Plan covers a period when Hong Kong is likely to experience major changes arising largely from the rapid development in the Mainland, both in its economy and international status. Our emphasis in the Strategic Plan on globalisation is a considered response to these changes. We seek to provide our graduates with the best career opportunities by anticipating and training for the rapid changes that lie ahead. The Plan emphasises our commitment to excellence in research and professional education. We have strong professional schools and we take the leading professional schools in North America as models for our future development to nurture a new breed of professionals to excel and lead in our fast changing global environment. City University of Hong Kong is a vibrant university located at the centre of Hong Kong, one of the most dynamic and cosmopolitan cities in the world. The University prides itself on its close relations with the City. It has a strong sense of social awareness and of its responsibilities to the young people of Hong Kong in providing them with a strong foundation for their future endeavours. Complementing this close relationship with the City is the University’s global perspective and global connectivity reflected in both its educational and research activities. It has established itself as a leading international university and is well placed in all the international ranking...
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...Strategic Plan: Riordan Manufacturing MGT/498 October 2013 Riordan Manufacturing Strategic Plan Why is strategic management necessary? Strategic management, and business policies are essential for organizations to gain competitive advantage within their respective markets. Organizations like Riordan Manufacturing implement policies, and procedures to provide structure, and standardize operations in efforts to maintain proper control of production, inventory, and logistics. Developing a strategic plan focuses on the need for planning, roles of ethical and social responsibility, current competitive advantages, innovation, sustainability, internal dynamics, influence of business continuity, and assessment, and feedback. The following discussion details a strategic plan for Riordan Manufacturing. Topics include areas of environmental scanning, strategy formulation, strategy implementation, evaluation, and control. Riordan Manufacturing Effective Strategy Guidelines Riordan Manufacturing is focused on what really matters, the bottom-line performance and long-term healthy survival of its organization. Now that Riordan Manufacturing has implemented an effective competitive strategy it must evaluate and measure its performance. Measuring its performance is critical to the success of Riordan Manufacturing. By implementing an effective measurement guideline, it would help Riordan Manufacturing in tracking the progress against its goals and objectives; identify areas of improvement;...
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...Strategic Plan: Part II Strategic Plan: Part II * Organizing Actions is an organization that focuses on cleaning up and organizing businesses such as convenient stores and small-box retail chains. The reason for this service is to improve productivity and accountability for the managers. The business environment today has forces and trends that influence business decision-making and directional platforms. Individuals must determine how business strategies will continue to improve the mission and values of the overall organizational goals. Creating an S.W.O.T.T analysis is the important part of the strategic plan that paints a vivid picture on how the business may rank in accordance of internal and external factors. This table displays the strengths, weaknesses, opportunities, threats, and trends of Organizing Actions. * External Forces and Trends Considerations * Legal and Regulatory is an external force and trend because it provides an opportunity to the business by improving a more competitive position of possessing business licenses. * * 1. Legal and regulatory -Need for Organizer contracts & business license 2. Global- you can become popular and increase/decrease in popularity of vintage items 3. Economic - Poor economy may bring increased business 4. Technological- E-Bay selling- online software to track consignor inventory, sales and discounts. 5. Innovation- Update software- customer base for mailing- sales/discount/birthda 6. Social-...
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...Strategic Plan Paper Strategic Plan Paper Introduction Why does Riordan need a strategic plan? - Maurice What role should ethical and social responsibility considerations have in Riordan’s strategic management plan? - Maurice What competitive advantages does Riordan have, and which competitive strategies should Riordan utilize to improve innovation and sustainability in both domestic and international applications? -Verchell What measurement guidelines should be used to verify strategy effectiveness? -Verchell Internal Dynamics The internal dynamics of an organization which include cultural and structural leadership need to be considered when implementing a business strategy. For Riordan, to get employees involved and for the employees to support any new initiatives, additional research needs to be conducted to determine employee retention and satisfaction. According to Riordan's turnover report, there has been over a 5% increase of employees voluntarily leaving company between the years 2002 and 2004. This illustrates that the internal dynamics of people within the company needs to be part of business strategy. Riordan can utilize the results from the employee satisfaction survey results that were conducted in 2004 which compares various employee's opinion on the company and their felt value within the company compared to a similar survey conducted in 2002. The survey that was conducted focused on eight areas; job satisfaction, work conditions, personal opportunities...
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...Hensley Real Estate and Appraisal Services Annual Strategy Plan Jo Student BUS/470 March 18, 2012 Dr. David A. Smith STRATEGIC PLAN 2 Table of Contents Executive Summary.................................................................................... ............ 3 Company Background and Milestones............................................................................... 3 Part 1: The Business................................................................................................ 4 Company Mission............................................................................................... 4 Company Vision................................................................................................ 4 Focused Project................................................................................................. 5 Part 2: Environmental Analysis....................................................................... .......... 6 Remote Environment......................................................................................... 6 Industry Environment......................................................................................... 7 Part 3: SWOT Analysis.......................................................................................... 8 Strengths........................................................................................................ 8 Weaknesses.........................................................................
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...STRATEGIC PLANNING One approach to strategic planning is to match an organization's goods and services with its markets, generally in the long term. The long term is viewed as two or more years. To minimize threats from competitive inroads and obsolescence, every business unit must have a strategic plan and constantly monitor its markets and competitors. Tomorrow's winning products must be researched, tested, developed and introduced before today's winners become obsolete. To manage its future every company needs a business strategy and a marketing strategy. The business strategy guides the corporate mission, financial and operational planning, its search for new products, technologies, and market targets. The marketing strategy takes the business strategy as given, then focuses on matching products to markets. Market planning involves the shorter run, annual and day-to-day, activities of developing and executing the marketing mix elements of the company's offerings. As execution is carried out, constant feedback must be assured to provide input for modifications to the marketing plan in the face of changing conditions. Every organization has a marketing strategy. It can be expressed either as written plans or as a collection of unwritten or even unstated rules. In either case, it should include a statement or understanding about the company's mission, customers, and offerings whether formalized or informal. To have no strategy is to be directionless or what might be...
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...Heathwood Hardware, Inc. Strategic IT Plan Capella University January 19, 2016 TS5010 Table of Contents Introduction3 EIA Analysis3 Systems and Data Integration4 E-Commerce5 Enterprise Information Systems6 Security Issues7 Disaster Recovery Plan8 Transformation through Web-Based Technology7 Website Proposal13 Appendix A: Interface Design Evaluation15 Appendix B: Annotated Bibliography17 Abstract This IT strategic plan for Heathwood Hardware, Inc. (HHI) is intended to serve as a guide for coordinating an information-enabled enterprise. HHI must take advantage of IT and the internet to beat their competitors and with this plan there is a holistic approach to implementation. In an effort to change their business operations, this plan focuses on the business, technical, and architectural perspectives of IT implementation for this small organization. Introduction Small companies today must balance the push for information technology (IT) innovation with stable business strategies. Information technology is rapidly changing the business world, affecting how small companies market and distribute their products, as well as how their people operate. With that in mind, small companies like Heathwood Hardware, Inc. (HHI), must work to evaluate its existing infrastructure against the requirements. Currently, HHI’s IT infrastructure follows the typical scenario with silos of integration and knowledge. Critical functions such as accounting, inventory...
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...STRATEGIC PLAN (20142019) School of Business and EconomicsMoi University The global business school of choice; excellent in education, research and innovation Submitted by: NAME: KIMANI ABRAHAM KAMAU REGISTRATION NUMBER: BBM/2614/12 COURSE: Business Policy& Strategy (BBM 472) INSTRUCTOR: DR. MUGAMBI 12/24/2013 Contents LIST OF FIGURES AND TABLES .................................................................................................................. 3 TABLES ................................................................................................................................................ 3 FIGURES .............................................................................................................................................. 3 EXECUTIVE SUMMARY ............................................................................................................................. 4 VISION..................................................................................................................................................... 5 MISSION .................................................................................................................................................. 5 CORE VALUES .......................................................................................................................................... 5 CHAPTER ONE ...............................................................................
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...question. Many will say that the business strategy of a company is like a blue print. It can provide a bigger view that will show how all the smaller projects are coordinated to achieve the company’s goal. Our reading states ‘strategy is a large-scale, future oriented plans for interacting with the competitive environment to achieve company objectives’ (Pearce & Robinson, 2011, p. 4). That is correct; strategy is determining where you are now, where you want to be, and how to get there. Strategy is not just about one element, but the entire business. Right down to the basics, business strategy is creating operational alignment (Goodbusiness.com, 2011). But there are things an individual or a company should know about strategy or strategic issues. Strategy or the company’s strategic issues should react to environmental changes that have, or will happen. According to Pearce and Robinson, in order for this to take place strategic issues require top-management decisions. This is because strategic decisions over see many areas of a firm’s operations (Pearce & Robinson, 2011, p. 4). A good business strategy can require large sums of money and can often affect the firm’s long term prosperity. A company’s strategic issues will...
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...A TEN (10) YEAR STRATEGIC PLAN FOR SUNNY COMMUNITY RADIO CATHOLIC UNIVERSITY COLLEGE OF GHANA, FIAPRE BUSINESS POLICY AND STRATEGY (ASSIGNMENT) BY ERIC FRIMPONG (UGR0101010898) PROGRAMME Bsc. ECONOMICS AND BUSINESS ADMINISTRATION (MANAGEMENT) 12/1/2013 SUNNY COMMUNITY RADIO BY: ERIC FRIMPONG TABLE OF CONTENT Chapters Pages Chapter One 1.0 General Overview……………………………………………………………………….1 1.1 Introduction……………………………………………………………………………………...1 1.2 Historical Background…………………………………………………………………..3 1.3 Profile of the organization……………………………………………………………….5 1.4 Objectives of the organization…………………………………………………………..6 1.5 Organization structure…………………………………………………………………..7 1.6 The organization’s management committee……………………………………………9 1.7 Key organizational activities…………………………………………………………..10 1.8 Review of past performance…………………………………………………………...10 1.9 Framework and process………………………………………………………………..11 Chapter Two 2.0 Goals and objectives, vision and mission……………………………………………..12 2.1 Introduction…………………………………………………………………………...12 2.2 Goals and objectives…………………………………………………………………..13 2.3 Vision statement………………………………………………………………………17 2.4 Mission statement……………………………………………………………………..17 2.5 Core values…………………………………………………………………………….18 Chapter Three 3.0 Situation / Environmental analysis……………………………………………………19 3.1 Internal analysis……………………………………………………………………….19 3.2 External analysis…………………………………………………………………….22 3.3 Stakeholder analysis…………………………………………………………………24 3.4 Impact of...
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...Strategic Plan, Part I: Conceptualizing a Business Adam Baalaer BUS 475 November 7, 2011 Hal J. Wilkins Strategic Plan, Part I: Conceptualizing a Business Many night-clubs, bars, and restaurants open weekly all over the country, but the key to success for these businesses is developing a key strategic plan. A key strategic plan needs to have a successful vision, mission, and key values that will support the strategic business plan. The business that has been chosen for this paper is opening a new pub and restaurant. In order for this restaurant to successfully open, a business plan, vision, and mission statement supporting strong values needs to be established, and this will all be discussed in this paper. The Thirsty Hunger is a new pub that will be open to the public offering more than 50 draft beer selections on draught and a great variety of food. The Thirsty Hunger would have a restaurant on one side, allowing underage to dine with their families and enjoy dining in a positive atmosphere. The other side of the pub and restaurant would have a sports bar theme with many large screen televisions supporting all televised sports. Thirsty Hunger will not have a divider between the sports bar and restaurant so the positive energy in the room can be experienced by all of the customers. The customers will range from families looking for a restaurant that offers a great food and environment experience, to individuals consuming cocktails or beers wanting to enjoy watching their...
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...Strategic Plan Katie Hanson, Raquel Martinez, Kirk Carlson, Nicholas Votaw MGT 498 Strategic Plan Riordan Manufacturing is a mid-size American company that was founded in 1991, employs 550 people and has projected annual earnings of $46 million. Riordan has three manufacturing locations, two in the United States and one in China. Riordan understands the importance of strategic planning and will lay out their reasoning in this paper. Competitive advantages, sustainability, innovation and ethical and social responsibilities will be addressed, as well as cultural and structural leadership and assessment and feedback controls. Riordan Manufacturing, Inc. needs strategic plans because Riordan Manufacturing, Inc. is like any other business organization; divided into two governing sections of business operations a management section and a functional section. Strategic planning is conceptual, pragmatic, and can deliver the highest and best results for business decisions and practices. “Strategic management is a set of managerial decisions and actions that determines the long-run performance of a corporation” (Wheelen, 2010, p. 4). Strategic management possesses four phases that are designed to have business managers’ focus on internal, external, and overall policy implementation of their management systems. The four phases of strategic management are financial planning, forecast based planning, externally oriented strategic planning, and strategic management (Wheelen, 2010). The...
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...Under Armour Strategic Plan Part BUS/475 Under Armour Strategic Plan Part Two Under Armour has learned how to be successful with a resilient strategic plan in place. The strategic direction that a company decides to endeavor could be the cause of a company to become successful or fail. Strategic plan of a company needs to be explained to all personnel involved to be a successful venture by the company. The purpose of this synopsis is to analyze the forces and trends that Under Armour has to relate to and that is relevant to its competitive situation. The internal and external forces will include the economic as well as legal and regulatory forces and trends. Externally this will cover the economic, innovation, and social aspects. The internal forces will include technologies, goals, and strategy points. SWOTT Analysis With today’s recession the business markets in the world face many obstacles to keep business profitable. With a Strategic plan incorporated and followed in the company will allow the company to set goals and achieve the goals. Under Armour developed strategic plans that include a SWOTT analysis. This establishes by what method the business will survive in the market during the recession. A SWOTT analysis is a situational analysis of an organization’s internal strengths and weaknesses, opportunities, threats and trends that are faced by the company (Pearce, 2009). This analysis will be examined to provide a strategy for the company’s survival. With...
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