Business /475Strategic Plan Part 1: Conceptualizing a Business
The main focus of this paper revolves around Mia Boutique a new clothing store. The store wants to target the Hispanic community but sees growth opportunities in other communities. The Boutique mission statement is to state the present of the store and the vision is to create a path for the business in the future. The Boutique’s projection is to create customer awareness and eventually have its clothing in every household. Integrity is only one of different values for the guiding principles of the boutique. The mission, vision, and values serve as a guide to the company in creating a strategic direction. To satisfy the customer’s needs the clothing will be of a high quality with different styles and sizes to accommodate in different body types. A strategic website creation will provide a competitive advantage over other clothing stores. Key factors such as price differentiation, quality, and diversity will promote competition to the store positively.
Strategic Plan Part 1: Conceptualizing a Business
Competition in the business world is fierce, and one of the most competitive markets is apparel. Many local businesses open and close because they lack management strategies that will help them sustain in the market. To be a successful businessperson it is necessary to plan every step and action in the way. The desired goals for the specific business will be lost if there is no structure to follow. Mission and vision statements serve as a basis for the business ‘strategic direction.
The business selected is a clothing store. The name of this store is Mia Boutique. The mission statement deals with a business present scope and purpose. The mission statement of Mia Boutique is to offer quality; name brand, designer, formal, and casual wear in an assortment of sizes and styles to accommodate different body styles and shapes. The legal form of business organization for this...