...Strategic Plan, Part 1: Conceptualizing a New Business Strategic Plan, Part 1: Conceptualizing a New Business A strategic plan is vital to conceptualizing and developing a new business built for success. This paper is Part 1 of my strategic plan to open a new bar/restaurant in downtown Greenville, SC. I am currently one of 4 people that run a local adult sports league. The idea for opening this bar/restaurant stems from the fact that we have multiple sponsor bars that we send our 2000+ players to after sports and events. Opening a bar that is solely focused on the sports league players guarantees an already established client base. The bar will be called GSB- Greenville Sports Bar and will be different from most due to the fact that we will be catering our environment, food, and hours to a specific group of “bar-goers”. Mission and Vision A business’s mission statement, very simply, is the answer to why the company is in business in the first place. A company’s mission is “the unique purpose that sets a company apart from others of its type and identifies the scope of its operations in product, market, and technology terms” (Pierce II & Robinson, Jr., 2009, pp. 25). GSB Mission Statement: Greenville Sports Bar’s (GSB) mission is to be the premier bar/restaurant for all social athletes in downtown Greenville, SC. Our goal is to be a step ahead of the competition. We want our customers to have more fun during their leisure time. We will provide an inviting atmosphere...
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...Strategic Plan Part 1: Conceptualizing a Business Strategic Plan Part 1: Conceptualizing a Business Strategic planning is critical to the success of any business, especially new emerging ones. “Once a firm has committed itself to a particular strategy, its image and competitive advantages usually are tied to that Strategy”(Pearce & Robinson, 2009, P. 3). This strategic plan will map out the path for Bentley IT Services. The definition of the business and customers is evident in the mission statement. The intended future of the company is consolidated into clear vision statement. The core values of the company server to guide the company in all endeavors. These mission, vision, and values will guide the company on its journey. Lastly, the plan will analyze how it addresses customer needs and maintains a competitive advantage over the competition. Company Mission The mission statement of an organization serves to identify the goals of the company, display the scope of the organization, and differentiate the company from the competition. In essence, it says defines who the company is and exactly what they do. There are four major points that bear consideration when formulating a mission statement. These are: who are the customers, what are the products and services the company is offering them, how does the company create value for the customer, and what is the scope and nature of the company. Bentley IT Services aims to be a full service provider of information...
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...Strategic Plan, Part 1: Conceptualizing a Business It is important to have a Strategic Plan to make a business be successful. A strategic business plan helps the company to define its mission and vision, giving the company a sense of purpose and direction that sets them apart from competitors (Pearce & Robinson, 2009). A mission statement also discusses the product or services conducted by the company (Pearce & Robinson, 2009). Establishing a solid mission and vision statement clearly presents to potential and existing customers what the company is about and what the plan is for the future. In this paper the subject to discuss is Edna Valley Cheese Company mission and vision statements and the values of the company and how each of the factors help to determine the company’s strategic direction. Define the Business, Product and Mission Statement Edna Valley Cheese Company is a 40 acre goat farm nestled in the middle of wine country in Central California Coast. Edna Valley Cheese Company will be crafting cheese's that will pair with fine wines and add flavors to gourmet recipes. Edna Valley Cheese Company will craft many different kinds of cheese with natural ingredients, happy and healthy animals. Edna Valley will make several varieties of soft goat cheeses including Goat Milk Feta, Olive Oil and Garlic Chevre, lightly salted Chevre, Goat Brie, Smoked Castelo Branco, Dutch Goat Gouda, and Murcia al Vino (drunken goat cheese). All cheese will be made with...
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...Strategic Plan, Part I: Conceptualizing a Business BUS/475 October 7, 2013 Strategic Plan, Part I: Conceptualizing a Business Worlds Apart is a new concept restaurant that incorporates different dishes from all over the world into one restaurant. There will be amazing food dishes from Ireland, Germany, Mexico, Italy, France, China, and Greece, and of course, good ole down home southern dishes as well. Mission Statement Worlds Apart inspires to be a high-quality restaurant that meets and exceeds all expectations. The restaurant will offer a diverse menu from around the world using natural ingredients of the highest quality possible, and still offer moderate prices. We will give our employees the best training in respect, courtesy, and service better to assist our customers. We will use environmentally safe products to protect our ecosystem and the community around us to help reduce our carbon footprint. We strive to be an internationally known household name for our excellent service and high-quality foods in a way that will help us grow and expand profitably. Vision Statement Within the next five years, Worlds Apart will be a well-known “five star” restaurant in Southern Kentucky by combining exquisite customer service and perfectly prepared meals that creates a unique dining experience. Values and Guiding Principles Accountability-being responsible and taking ownership for our actions. This is essential to preserve our customers and societies trust and protect...
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...Conceptualizing a Business Edmund G. Peabody University of Phoenix Integrated Business Topic BUS/475 Mr. Arthur Murphy April 30, 2012 Conceptualizing a Business Throughout this paper, a vision for an organization that demonstrates a decision on what is wanted in the future will be created. I will define the guiding principles or values for the selected business considering the topics of culture, social responsibility, and ethics. I will analyze how the vision, mission, and values guide the organization’s strategic direction. I will also evaluate how the organization addresses customer needs and critique how they achieve competitive advantage. Strategic Plan, Part 1: Conceptualizing a Business It is imperative to comprise a Strategic Plan to ensure that the business is successful. Astrategic business plan facilitates the company to characterize its mission and vision, giving the company a sense of purpose and direction that sets them apart from competitors (Pearce & Robinson, 2009). A mission statement also discusses the product or services conducted by the company (Pearce & Robinson, 2009). Instituting a firm mission and vision statement without a doubt represents to prospective and current patrons the company’s core values and its strategy for the future. Discussed in this paper will be the mission and vision statements and the values of the Red Dawg Range based in Pine Mountain Georgia. This paper will address the company and how each of the...
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...Strategic Plan Conceptualizing a Business Part 1 Linda McKee BUS/475 June 25, 2012 Gene Foster I have a nephew who is autistic, and throughout his young life thus far I have searched for various programs and facilities that would enhance his learning ability. Now that he is an adult there are only a few places which offer continued life lessons and fun for adults with autism. Most of the facilities in the area are faced with little or no money for support. The government tries but has reduced funding to the nonprofit organizations because of the poor economic conditions. There is usually not enough staff to assist an individual with his or her special needs and must rely on donated time from professionals. Your loved one can be reduced to sitting around all day with no stimulation, interaction and no drive to go out and learn. The idea came that these adults needed some specialized training in how to make it in today’s life style. Life with Autism Programs and Facilities is the new organization I am introducing into the marketplace. In today’s society there are many families facing the dilemma of placing a loved one with autism who has become an adult in a comfortable and trust worthy setting while he or she has to work. When they were children it was a little easier because there is a more comprehensive effort for the younger generation because they are just starting life. Individuals with Autism need to have the opportunity...
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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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...Strategic Plan, Part I: Conceptualizing a Business BUS/475 Integrated Business Topics December 15, 2011 Strategic Plan - Part I: Conceptualizing a Business Land Forms Construction is a general engineering and landscape contractor located in Laguna Niguel, California. The company has been in business for over 21 years. The owners Jeff and Anna Tracy started out as a landscape contractor concentrating mainly on commercial projects in Southern California. The company expanded its services into Northern California and Arizona. In 2010, Jeff Tracy also added value to his company by acquiring a General Engineering license to add value to the services offered at Land Forms. Mission Statement Land Forms Constructions' mission is to provide the finest quality results in all that we do. It is our goal to undertake all projects with the attitude of 100% performance in all respects, including: 1. Safety of both the public and our employees and customers. 2. Compliance with environmental laws and regulations. 3. Quality of products and services. 4. Customer relations. It is our view that no project is successful unless our client is satisfied, the project was completed both on time and within budget, and the job has been built using the finest materials and methods so as to provide the maximum value to our customer. Sunburst Landscaping plants a landscape architect’s vision making a construction project come alive. For 34 years we have followed our mission...
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...Strategic Plan Part 1: Conceptualizing a Business Jojie Urrete BUS/475 September 12, 2011 Linda McKee Strategic Plan Part 1: Conceptualizing a Business A strategic business plan will help the organization define its mission and vision, giving the organization a sense of purpose and direction. In addition a strategic plan will help the organization asses its strengths and weaknesses, and develop short-term strategies that are compatible with long-term objectives. A strategic plan will balance the use of resources, people, structures, and technologies in order to achieve company goals with the least amount of risk. . Planning is used as a tool to help identify potential opportunities and threats as well as to reduce long-term risks. Planning is also used to more effectively establish goals and objectives for long-term success and ensure that the organization use all its resources toward achieving its goals. The small business that I would like to start would be a mixture of bookstore and coffee house. Coffee house, business mission Novel Beans is an exclusive bookstore plus coffee house mixture that is opening in the downtown area of Madison, Wisconsin. Novel Beans is situated on a fine trafficked street straight in the main shopping area of Madison, situated close to the capitol construction. The society is completed up of eclectic shops, restaurants, bars and companies that are geared in the direction of the ample university residents that...
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...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Nikki Dockery BUS475 – Integrated Business Topics December 1, 2014 Dr. Sarita Wesley Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Innovation is evolution within the business world, without it all businesses would stay at a standstill. In order for a business to go anywhere, they need to evolve and grow with the companies around them in which they may compete, as well as with their customers. If a business does not grow with their customers, then those customers will find a business that is better for them. Within the confectioner’s world, there are very few that cater 100% to their customers’ needs or wants. In my surrounding area many individuals can only buy their cakes, cupcakes, cookies, chocolates, etc., from the grocery store. Limiting personalization for those wanting specific pieces. None of these locations provide any type of “treats” that specify to the 21 and older crowd. As a home baker (starting off with baby steps) experimenting with flavors and liquor has peeked some interest with potential clients. There are no other locations that they can go to get their favorite cake flavor and have it infused with their favorite liquor. Business, Product, and Customers: Mission Statement. According to Pearce and Robinson (2009), the mission of a company is the unique purpose that...
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...Strategic Plan, Part 1: Conceptualizing a Business Strategic Plan, Part 1: Conceptualizing a Business My selected business would be a temporary staffing agency; with many companies today reluctant to hire full-time employees a staffing agency for the right industry could be very successful. My staffing agency would focus primarily on the IT (information technology) sector and providing highly skilled temporary labor to companies that do not have the need for a full-time IT employee. For this business I will create a mission statement, create a vision statement that clearly defines what I want the company to become in the future. I will also define the guiding principles of the business taking into consideration the culture, social responsibility and ethical issues that may arise. I will also analyze how the vision, mission, and values that guide the organizations strategic direction and evaluate how the company addresses customer needs. Creating a Vision Statement Providing superior quality employees and services which will satisfy and earn the loyalty from our customers. To sell your product or service, you need vision. A vision is a picture of the future we seek to create, described in the present tense, as if it were happening now. It shows where we want to go, and what we will be like when we get there. When you work on your vision, consider your strategic focus, your market place competitive advantage or what makes you unique and marketable, how you add value...
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...Strategic Plan Part I: Conceptualizing a Business Marlon Bowers BUS 475 October 13, 2015 Ericka Hilliard Strategic Plan Part I: Conceptualizing a Business When a business needs and has a defined set of values, a mission, and vision to reach goals that have been determined via their strategic plan is how companies prosper. When goals, values, and visions area described through detailed documentation it shows the organization to have very good business, tactical, and corporate strategies. With the above information being the foundation of a company it leaves puts shows proof of what a company’s true expectations are as well as their research into what their vision and mission may be. The QuikTrip Corporation vision and mission statement sets them apart from their competition. The values put in place by QuikTrip will help them to carry out strategies, which will in turn increase earnings and competitive at the same time. Their mission statement is "To wisely invest dollars in community efforts that will help impact (in measurable terms) individuals in our society who are dependent on the charitable support of others. We believe the most effective way to do that is to invest our contribution dollars and volunteers in strategic efforts that help those at risk reach their functional capacity as successful, independent citizens (QuikTrip, 2015). The outlined business plan consists of establishing forming a division in all their stores by not only being a convenient...
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...Strategic Plan Part 1: Conceptualizing a Business BUS/475 Abstract 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...
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...Business Model and Strategic Plan Part I: Conceptualizing in Business Victoria N Wilbert BUS 475 December 1, 2014 Ryan Simpson Business Model and Strategic Plan Part I: Conceptualizing in Business Innovation is a money and time saver that will help an organization achieve a competitive advantage to grow and adapt in the marketplace. Innovation refers to implementing new ideas, creating dynamic products, and improving existing services. Businesses that innovate create more efficient work processes and have better productivity and performance. Innovation is the key to competitive advantage for a successful organization. Best Buy’s New Division and Product Innovation requires new ideas. Best Buy is constantly thinking of ways to keep its customers happy. Best Buy is now reaching out to the customers who want to give back to their community. Best Buy is creating a new division called Best Giving. This division's focus will be on helping others in local communities. The mission statement of Best Giving is “To give peace, hope, and help to local communities through the generosity of our loyal customers”. As part of Best Buy’s undefined mission statement “… a growth company focused on better solving the unmet needs of our customers…” (Strategic Management Insight, 2013), Best Giving is meeting customer needs by altering the rewards card program. The card will now allow customers to give back their earned rewards to a charity of their choice. Customers can choose what percentage...
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...Strategic Plan Part I: Conceptualizing a Business Danielle Jones BUS/475 June 15, 2011 Professor Kwadwo Ofori-Brobbey Conceptualizing a Business In today’s dynamic business environment, organizations have to develop strategic plans to gain a competitive advantage. Planning is a vital function of running a successful business and must coincide with an organization’s mission, vision, and values. Each of these components reveals the nature of an organization, its intention, long-term goals, and logic for its actions. More important, these components establish the framework, which plot the course of an organizations future. The purpose of this paper is to give the reader an informed view of the important role these components play when formulating a strategic plan. This paper will illustrate this point by creating a vision, mission, and values for Jones Day Spa a fictitious organization. Furthermore, this present work is intended to meet the following objectives: • Provide a company overview including the vision, mission, and values • Analyze how the vision, mission, and values guide the organization’s strategic direction • Evaluate how the organization addresses customer needs and critique how they achieve a competitive advantage Jones Day Spa Vision, Mission and Values Vision Jones Day Spa (JDA) ultimate objective is to become the preferred spa of choice customers go to enhance their natural beauty. We strive to create a serene...
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