...Final Business Model and Strategic Plan BUS475 Final Business Model and Strategic Plan A company that has a clear vision and mission statement is setup to be successful. The mission of Magellan Health is to provide its customer’s with greater insights into their health, while keeping healthcare affordable, and returning value to its shareholders. Those are three very different goals. What may benefit their customers may not benefit their shareholders. Additionally by keeping costs lost their institutional plan members may benefit but at the expense of the patients or physicians. This paper will outline the various steps Magellan will take to deliver on all three of these principles. Target Outcomes and Measuring Results The most obvious thing a business can do to be successful is to maintain its profitability. Without turning a profit and maintaining cash flow the business would be forced to close its doors. Therefore, financial objectives are one of the most important considerations. With the recent passage of the Affordable Care Act, an insurer can no longer deny coverage for pre-existing conditions. Additionally all members of the public are required to be insured by 2014 as there are penalties for, not purchasing health insurance. This influx of new additional clients has created a boon for the healthcare industry, (La Monica 2015), insurance companies will face rising costs as more people join plans with pre-existing conditions. To ensure that the risks associated...
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...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division Gregory A Osborn Jr. BUS/475 October 26, 2015 Dr. Joseph Glasgow Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service The convenience store industry is a growing market and provides everyone with ease throughout their busy daily lives. Convenience stores have a fuel offer along with a wide variety of snacks, beverages, and groceries. Some of them are now offering built to order food and drink products which is helping the industry grow and attracting more consumers. QuikTrip (QT) is one of these companies in this industry and its first store was opened in Tulsa, OK on September 25, 1958 by Chester Cadieux ("QuikTrip Corporation", 2015). QuikTrip is always focusing on improving their product and service division to generate more business. To enhance their company I have generated an idea for a new service that will also bring a variety of new product to their stores and increase their offer and sales within the company. New Product and Service QuikTrip has many competitors in the convenience store industry and some of their main ones are Wawa, RaceTrac Circle K, and 7 Eleven. Many of these companies have similar products but also have some of their own personal products to differentiate themselves from one another. Typically the attraction...
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...Business Model and Strategic Plan Part III: Balanced Scorecard BUS/475 February 23rd, 2015 Table of Content I . Introduction……………………………………………………………………………3 II. The balanced scorecard………………………………………………………………..3 III. Financial perspective…………………………………………………………………3 a) Market share……………………………………………………………………...4 b) Revenues and costs……………………………………………………………….4 c) Profitability……………………………………………………………………….4 IV. Customer value perspective…………………………………………………………..5 a) Customer retention or turnover…………………………………………………...5 b) Customer satisfaction……………………………………………………………..5 c) Customer value…………………………………………………………………...5 V. Internal operations perspective………………………………………………………..6 a) Measure of process performance…………………………………………………..6 b) Productivity or productivity improvement………………………………………...6 c) Operations metrics…………………………………………………………………6 VI. Research and development perspective………………………………………………6 a) Employee turnover or retention…………………………………………………..6 b) Nature of organizational culture or climate………………………………………6 c) Level of organizational capability………………………………………………..7 VII. Conclusion…………………………………………………………………………..7 Appendix A: Financial perspective………………………………………………………8 Appendix B: Customer value perspective………………………………………………..9 Appendix C: Internal operations perspective……………………………………………10 Appendix D: Research and development perspective…………………………………...11 References………………………………………………………………………………...
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...Business Model and Strategic Plan Mission statements define the organization's primary objectives. Vision statements focus on its goals and aspirations. Value statements define how the work will be done. Vision, mission, and values are all important considerations when developing a strategic plan. These three factors work together to provide the business a well rounded strategic design. My business idea is a firm that manages projects. Strategic planning is a process of decisions made by an organization to set goals and to outline a course of action to achieve those goals, to grow the business and to help the business be profitable ("Dictionary," 2014, p. 1). Long term and short term goals contribute to the strategic plan. Description and Mission The business is a project management company called Properly Managed Projects (PMP) that specializes in knowledge, skills and techniques to execute projects effectively and efficiently ("Project Management," 2014). The target customer can be anyone with a temporary group activity to produce a product or service. Project management has five steps; initiating, planning, executing, monitoring and controlling, and Closing. Mission Statement Our mission is to provide professional planning on all projects. We only provide the best solutions to our customers’ situations. We make great efforts to be the most knowledgeable, skilled, and trusted company in the professional community. We seek to produce financial rewards to investors as...
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...Business Model and Strategic Plan Part I Henry Holloway BUS 475 June 29, 2015 Gregory Kosicki Business Model and Strategic Plan Part I Restoration House is a company that provides services for the restoration and preservation of historical homes and buildings. The company was established in 2001 and has worked on several projects in the suburbs of Atlanta. Restoration House has recently relocated to Collierville, TN and is looking to expand its’ business by bidding on several new projects. The company plans to develop into a leading service provider for the preservation and restoration of historical home and buildings. This means always having the best and most efficient facilities, processes and people. In order to achieve this, Restoration House will invest in pre-conferencing, equipment and customer service. The Company Restoration House began in 2001 when Henry Holloway and Jacob Lattimore began their own handy-man company, McDonough Home Repair. Seeing the beauty of old structures a desire was born to rebuild and restructure historic buildings to preserve the era of the city. Many buildings hold a great history and it becomes part of the city. To preserve that history restoration house has committed to restructuring these buildings and home but leaving their historic nostalgia in place. In 2002, the company merged with Fuller Concrete and created Restoration House. This merger has allowed the company to bid for more complex jobs. As part of its growth, Restoration...
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...Business Model and Strategic Plan Robert Norman BUS/475 November 25, 2014 Thomas Rauter Business Model and Strategic Plan JM Family Enterprises, Inc. (JMFE) is a privately owned family company of founder James Moran. JMFE is a holding company, which encompasses about a dozen automotive related businesses. These holdings range from the largest volume Lexus retailer to Southeast Toyota distributors, which are built up of about 175 dealerships across the Southeast. JMFE also offers financial services, insurance, inspections, dealer IT products, and marketing services (Hoovers, 2014). JMFE operates by five core values, consideration, cooperation, communication, innovation, accountability, and attributes these values to what sets them apart in the industry. Innovation allows JMFE to prepare for the future by taking risks and learning from their experiences by making them better. Taking a risk for the customers fits right into the mission JMFE lives by ("Jm Family Enterprises, Inc. ", 2014). In today’s struggling economy, it is more common to have issues in the automotive industry with finance. JMFE has its finance company as a part of their in house offerings which could allow them to do something better for those struggling with credit issues stemming from the economic downfall. The crashing of the housing market in 2008 caused a domino affect with the economy, which cost a lot of jobs for a lot of people. These people are looked at as a number in the...
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...Final Business Model and Strategic Plan Bus/475 July, 11th 2015 Strategic Plan, Part 1: Conceptualizing a Business Introduction The sought after products Ingram offers such computers, software, storage devices and so on will give in such a way that the consumer will report nothing but positive feedback. This is a company that strives to provide the most outstanding services and leads the completion by far. They offer services such as financial planning initiatives for corporation seeking to improve their corporation. These services not only provide a way to improve your business but it provides the technology that by far exceeds the leading corporations that offer these services. The idea of offering warranties for the devices they sell opens a whole new dimension that involves reshaping the company to allow for the growth and become the industry’s leading sought after company for the services they provide. The new offer for technical support which provides online chat and remote assistance with problems people experience will allow for the company to improve on company’s morale and dedication. This will allow for customers to seek advice for their purchased products and allow the new desire for other products that are available. If the customer is satisfied they will be a good referring agent and continue to add to the growth of the company. These steps will allow for the desired planning strategies to be put into place and result in the desired outcome in the...
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...Business Model and Strategic Plan Part I BUS/475 April 28, 2015 Business Model and Strategic Plan Part I Anheuser-Busch InBev is the name of the leading global brewer. The company has a “portfolio of more than 200 beer brands, including three global flagship beers: Budweiser, Stella Artois and Beck’s” (“Anheuser-Busch”, 2015). Budweiser is an American style lager and was introduced in 1876 by Adolphus Busch. Adolphus Busch wanted to create the United States first national beer brand. Budweiser became universally popular and has exceeded regional tastes. Budweiser is known as the “King of Beer”. Budweiser is brewed using a “blend of imported and classic American aroma and bittering hops, and a mixture of barley malts and rice, and the lager undergoes a 30 day brewing process that includes the time honored methods of kraeusening for natural carbonation and Beechwood aging, to create its unparalleled balance, character and signature crisp finish” (“Anheuser-Busch”, 2015). Budweiser’s vision is “Through all of our products, services and relationships, we will add to life's enjoyment”. Budweiser’s mission is to be the world's beer company, enrich and entertain a global audience, and deliver superior returns to their shareholders. The “Anheuser-Busch” website (2015) state that “values are to have quality in everything they do, exceed customer expectations, trust, respect and integrity in all of their relationships, continuous improvement, innovation and embracing change...
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...BUSINESS MODEL and STRATEGIC PLAN PART I BUS/475 January 12, 2015 BUSINESS MODEL and STRATEGIC PLAN PART I When conceptualizing a new product line of compact track loaders for Terex Corporation it is necessary to develop a strategic plan to meet the needs of the consumer and a innovative mission statement, vision, inline with Terex Corporation’s values. This will assist Terex Corporation to achieve success in its new venture. The division to manage this new product line will be customer-focused, adhering to an innovative mission statement reaching to attain the company’s vision. It will address the customer needs; therefore, achieving a competitive advantage. Terex Corporation Terex Corporation is a lifting and material handling solutions company diversified in five categories: Aerial Work Platforms, Construction, Cranes, Material Handling & Port Solutions and Materials Processing. The company manufactures a wide range of equipment serving customers in various industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utility, quarrying, and mining industries. The new product line of compact track loaders is being integrated into Terex from its most recent merger with Manitex. Terex Corporation mission statement is “To provide solutions to our Machinery and Industrial Product customers that yield superior productivity and return on investment.” Its vision is: • Customer-to be the most customer...
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...Business Model and Strategic Plan Part 1 Dusty Meins BUS/475 April 27, 2015 Joseph Ellington Business Model and Strategic Plan Part 1 Strategic planning helps an organization set the path it wants to take, as well as, defining their place in the business world. The vision and mission statements help an organization to define who they are, what they do, and where the want to go in business (Pearce & Robinson, 2013). The values of a company are also very important when developing a strategic plan. This sets the standard for the company’s priorities. NBTY, Inc. is a health and wellness company that supplies vitamins and nutritional supplements, both online and in stores. The company has decided to open a new division. Before beginning, NBTY, Inc. will need to develop a strategic plan beginning with the vision, mission, and values statements, determine how the new division will affect customer needs and give the company a competitive advantage, and then create a business model. Vision, mission, and values “Become and be recognized as the global leader in wellness products, providing our customers with brands that are loved and trusted by consumers and are winning value-creators in their industry” (NBTY.com, 2015. para.1). This is the vision statement for NBTY, Inc. Vision statements help a company show what the organizations purpose is within in the origination itself, as well as, the community. This statement sets the core vision and a guidance for NBTY, Inc. for...
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...Business Model and Strategic Plan Part II: SWOTT Analysis Marlo Stevens BUS/475 July 30, 2015 lance williams Business Model and Strategic Plan Part Ii: Swott Analysis Introduction The Ingram adjustment will mean there will be a new department of Ingram-Micro, Inc. to be established that will allow customers to pay attention to the new product. The expansion of Ingram-Micro’s new product will reflect the values, mission and vision. The overall wishes will add to the success to the corporation. The new product will help insure that new customers will be satisfied with the warranty and tech support thus in turn will improve sales and customer relations. The new division will have a swot analysis of Ingram-Micro, Inc. once the new2 introduction of the new product is completed. Economics and regulatory legal enforcements will show trends as well as the Ingram-Micro, Inc. chain of supply. Swott Analysis of Ingram-Micro, Inc. In the world of business there exists a strategic perspective that is called the swot analysis. The analysis lets the company to look at the weaknesses and strengths new chances as well as the new trends that will result in the new external factors. Strength’s The new adjustments to the company will reflect the new innovative product that has been established. Ingram will be the first company to give this new offer to customers with the warranty and tech support in the market. The new offer is the most attractive feature that this market has ever...
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...Business Model and Strategic Plan Part 1: Conceptualizing a New Product or Service Division of Existing Business Mary Locket Bus/475 July 22, 2015 Franky Johnson Strategic Plan, Part 1: Conceptualizing a Business Introduction The sought after products Ingram offers such computers, software, storage devices and so on will give in such a way that the consumer will report nothing but positive feedback. This is a company that strives to provide the most outstanding services and leads the completion by far. They offer services such as financial planning initiatives for corporation seeking to improve their corporation. These services not only provide a way to improve your business but it provides the technology that by far exceeds the leading corporations that offer these services. The idea of offering warranties for the devices they sell opens a whole new dimension that involves reshaping the company to allow for the growth and become the industry’s leading sought after company for the services they provide. The new offer for technical support which provides online chat and remote assistance with problems people experience will allow for the company to improve on company’s morale and dedication. This will allow for customers to seek advice for their purchased products and allow the new desire for other products that are available. If the customer is satisfied they will be a good referring agent and continue to add to the growth of the company. These steps will allow for...
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...Business Model and Strategic Plan Part II: SWOTT Analysis Crystal Underwood BUS/475 July 14, 2014 Linda McKee NextEra Water |Strengths |Weaknesses | |NextEra Energy is already involved in the utility field of and is |NextEra Energy currently is not involved in the water utility field. | |familiar with the rules and regulations for providing utility |With other countries come new rules and regulations to follow. | |services. |NextEra Water will have to learn and abide by all international | |NextEra Energy has already expanded to Canada. Expanding NextEra |rules. | |Water to other countries will be easier for NextEra. |NextEra Water will have to fight to show customers they are the | |NextEra Water can grow to be an economic leader in the utility |economic leaders of the water utility industry. | |industry. |NextEra Energy is used to the technologies of the electric utility | |NextEra Energy growing technologically and will pass this knowledge |field, however NextEra Water uses all new technologies for the water | |onto its new division, NextEra Water. |utility field...
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...Business Model and Strategic Plan, Part I Connie Berg BUS/475 September 29, 2014 Dr. Abdel Mahdi Al Husseini Business Model and Strategic Plan, Part I In the world of computers, software, and digital devices innovation is the key to having the upper hand. When it comes to staying ahead of the competition Hewlett-Packard Development Company LP has figured out a way to stay at the top. As one of the lead runners in the world of technology Hewlett-Packard has established itself in the global market and continues to advance. They are a large manufacturer of computers and servers, as well as printers and other technology based services. Their share of this market is approximately 24% and as the largest manufacture of computers in the United States, they have 25.5% of the domestic market share (IBISWorld, 2014). For them to continue to stay at the top, this company has to continue to come up with innovative ideas that will get the consumers attention. They have decided to develop their own internet security that will be available on all new Hewlett-Packard computers. This will require the company to establish a new division that will be responsible for the creation, research, implementation, and maintenance of this security software program. Proposition In the computer industry there are a number of risks that consumers take every time they log on to the internet. Some of these include identity theft, financial loss, and computer malfunction. With the constant threat to...
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...Business Model and Strategic Plan III, Balance Scorecard and Communication Plan Abstract This paper discussed issues and strategies of implementing a Balanced Scorecard in order to facilitate strategic planning in PepsiCo’s Mountain Dew Energy drink company KickStart. PepsiCo has been using the Balanced Scorecard in order to manage its performance measures for the implementing of the Balanced Scorecard to try and select the appropriate performance measures for the area’s listed below; • Growth in developing in the Energy drink new product and emerging markets • Financial perspective---how do we look to stakeholders • Customer perspective---how do our customers se us? • Internal business processes—what must we excel at? • Innovation and learning----how can we continue to improve and create value? Other challenges include collecting the desired information and systematizing its production analysis. Understanding what the customer wants and getting feed back on the flavors, the taste, and the coconut waters affect on the healthier side of the choice. Background and Context PepsiCo’s sister brand Mountain dew has created an off brand for young coffee drinkers of America called Millennia’s. The Challenges of implementing performance for the new product taste is going to be difficult without getting the target audience approval. PepsiCo’s motto is to make sure when it introduces a new product it is consistent with “The performance with Purpose”. The performance...
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