...Running Head: Strategic Plan, Part I: Conceptualizing a Business Strategic Plan, Part I: Conceptualizing a Business Name BUS/475 Teacher Name March 28, 2011 Introduction Mission, vision, and value statements are critical factors that act as guiding principles for an organization’s strategic initiatives. Organizations build their corporate, business, and tactical strategies and objectives. The given paper is a descriptive analysis of mission and vision of Ace Gym, and how these statements help Ace to differentiate itself from its competitors. In addition to that, the paper also discusses about Ace’s values, which are governed by its mission and vision statements, and how these values inherently guides the company’s strategic directions, which in turn will help the company to satisfy its stakeholders, increase profitability, and differentiate itself from competitors. Analysis The business plan is to develop an online Gym, named as Ace Gym. This Internet business will provide value added services to its customers, by charging them one dollar a month to get daily fitness tips tailored to their needs. It will include a trainer who will interact with the customers, gather their health related data, and prepare a health schedule for them. The trainer will also monitor their diet and exercise schedule by using an automatic attendance system. Mission Statement · Industry: Online Service Industry --- Specialization: IT and Health · Product: None · Service: Health...
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...Strategic Plan Part I Conceptualizing a Business Dawn Riggenbach Bus/475 March 26, 2012 When a person or persons decides to start a business, there are several things they need to consider, first of all a strategic management plan will need to be outlined determining the what, where, and how of the business. This will include deciding the different divisions that will make up the business and the roles these areas will play in the day to day operation of the company. The plan will entail establishing the short and long term objectives for each division and incorporating the goals into one single arrangement. To assist in deciding the objectives, the type of autos that will be restored will need to be determine, all vehicles versus classic or antique vehicles. Once this decision has been made, a plan on how the business will achieve the established will need to be put in place. Next step is the “where” choice will be the location of the business, choosing an area that will be in a high traffic spot that can easily be found by people is important in assisting the business achieve the goals established in the objectives. The how will be determining the way to make this happen. The four functions of management are important in creating and implementing a strategic plan, as it provides the business the current status of where the business is at the moment and where they plan to be in the future (MyStrategicPlan.com). The owner’s of Riggenbach’s Auto Restoration with the assistance...
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...Strategic Plan, Part I: Conceptualizing a Business Strategic Plan, Part I: Conceptualizing a Business One of the essential components when conceptualizing a business is to initially create the vision, mission and values as a backdrop of the business. These facets will be the basis of which the company operates and what it is built upon. For instance, as I looked through several organizations websites including: Cox Communications, GE, CARQUEST and Entergy, they all mention frequently within their vision and mission statements and their values that there business practices are conducted with integrity, honesty and customer service is of the utmost of importance. Additionally, they go on to indicate they promote productivity and diversity throughout the company. As I brainstormed ideas as to what my business form would be, the service or product I would provide as well as what is in demand; I too would like my company to be built on the basis of those parallel characteristics mentioned above. In this strategic plan, part I, I will explain the importance of my business’s vision, mission, and values in determining my strategic direction, including the following: defining my business, services, and customers by developing a mission statement and the differentiation of my services. I will create a vision for my company that clearly demonstrates my decision on what I want my business to become in the future. In addition, I will utilize guiding principles or values...
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...Running head: STRATEGIC PLAN, PART I: CONCEPTUALIZING A BUSINESS Strategic Plan, Part I: Conceptualizing a Business BUS/475 – Integrated Business Topics University of Phoenix Strategic Plan, Part I: Conceptualizing a Business The Serenity Corner is a therapy store that will focus upon mental health and relaxation and aid in healthy living. The Serenity Corner will provide a variety of products to their consumer so they can use as tools and techniques in the privacy of their home to promote mental healthy living through relaxation therapy. The goal will be to include products such as; body services, cosmetics, aroma therapy, reflexology, fragrances for men and woman, candles and homeopathic remedies. The goal of The Serenity Center is to help others achieve a state of healthy mind, spirit, and body. Business, Products, and Customers: Mission Statement The Serenity Corner’s services will attract a variety of consumers including, but not limited to various cultures, ethnicities, and religions who all share the same common goal of the ultimate relaxation, stress relief, and mental health. The Serenity Corner will have competition from other relaxation therapy stores and spas. However, our customers will have the option of going to a spa and paying high prices or coming into our store where your experience begins when you enter the door because the atmosphere is; relaxing, comfortable, and inviting. There will be a staff member that is trained...
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...Strategic Plan, Part I: Conceptualizing a Business BUS/475 Fitz Hibbler March 17, 2014 Strategic Plan, Part I: Conceptualizing a Business Mission, Vision, Products and Services On GOODs.com you are able to shop for all items needed for you home and personal needs. Our company’s mission is to provide our customers with the best products at the lowest possible prices and to place GOODs in the position of online service leader. If we can get customers to associate the GOODs brand with the complete best service, we can then expand and bring in other product categories eventually turning GOODs into a one stop shopping site. GOODs offers items such as electronics, home & garden supplies, kids & baby items, apparel, shoes & accessories, beauty and health supplies, and outdoor items. These items come in the form of new or refurbished. We intend to provide our customers with the best online shopping experience from beginning to end, with a smart, searchable website, easy-to-follow instructions, clear and secure payment methods, and fast, quality delivery. For us, when creating our vision statement we focused on the potential inherent in the company's future, and what we intend to be. Our statement contains references as to how we intend to turn our aimed for future into a reality. How we intend to make our vision come true is addressed in our mission statement. The vision statement is simply a description of what the company intends to become. Culture, Values, and...
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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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...Strategic Plan, Part I: Conceptualizing a Business Strategic Plan, Part I: Conceptualizing a Business This paper will discuss the business chosen for the assignment. A mission statement will be developed, setting the business apart from others in the same or similar market. The vision statement will also made, discussing the direction the business wants to take in the future. Other topics such as, principles or values will be discussed. Concluding the paper will analyze the mission and vision statement, and values in guiding the business in a strategic direction. Followed by an evaluation of customers need in giving the competitive advantages. Mission Statement Fortune Mobility Solutions is a mining corporation in hopes of becoming successful in the mining industry. The corporation mission is to mine resources for customers needing it for building material. Our goal is to find and mine the best material that will reach our customers high criteria and needs. We are based highly around our customers and the resources we mine. Fortune Mobility Solutions sees everyone in the corporation, from management, to employees, and customers as family. We keep our values as a family and take the time to get to know our customer. We want to be able to provide our customer the best material we can offer. The love of finding materials to be used and turned into something wonderful such as, buildings, tools, transportations, and more. Here at the Fortune Mobility Solutions, we mine...
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...Strategic Plan, Part I: Conceptualizing a Business BUS/475 Strategic Plan, Part I: Conceptualizing a Business A successful strategic plan must be based on the company's mission, vision, and values. The purpose of this paper is to define a selected business, products, services, and customers by creating a mission statement. In addition, this paper contains a vision for the organization that demonstrate the expected future for the business, and it will define the company values considering important topics such as culture, social responsibility, and ethics. It will also analyze how the vision, mission, and values guide the company's strategic direction. Finally, it will evaluate how the company address customers needs and how competitive advantage will be achieved. The name of the company is Bella Boutique. Bella Boutique is a trendy fashion and accessory boutique. Bella, which means "beautiful" in Spanish, defines the concept of the boutique. Bella Boutique will carry a wide variety of contemporary clothing, accessories, shoes, and make up. Bella Boutique also offers free personal style advice, which includes and detail style assessment based on body type, skin color, style, and personality of the customer. The target customers of Bella Boutique are young adult women, including college, professional, modern girls. These girls enjoy shopping in a fun environment that offers trendy and affordable fashions with a superior personalized service. Bella Boutique will stand out...
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...Strategic Plan, Part I: Conceptualizing a Business BUS/475 January 27, 2014 Strategic Plan, Part I: Conceptualizing a Business Organizations must be able to stand out and stay competitive with other organizations within the same industry. In my community, a small business that needs to be introduced is a day care center. I will be the owner of the center and operator of the center; the décor will be kid friendly with bright clean colors. This will be a place when a family walks into the center it feels welcoming. Setting my day care center apart from the other centers in the area will be a challenge. Below is the mission and vision statement for my establishment along with the outline of how I plan to set my business on top of the other establishments. Mission Statement The child care center will provide a safe, developmental program (age appropriate) environment for infants, toddlers, preschoolers, pre-kindergarten, and school age children. The focus of the center is to provide early education, which will increase social/emotional, physical, and cognitive development. Teachers will provide a good environment to help promote good behavior and manners. Our goal is to support the willingness to learn in which is in the best interest of the children. Vision Statement The child care center will be known for superior quality education. Our center will provide a place where parents and children can interact in a safe environment and still have fun. The employees are trained...
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...Strategic Plan, Part I: Conceptualizing a Business Conceptualizing a Business The business that I have chosen is called Heaven Treasures Coffee House. I will explain the importance of the company’s vision, mission, and values in determining why I have chosen its strategic plan. The information given will be defined by the business, product and services, and customers. This will include the mission statement for the coffee house. You will then be given the vision for the coffee house which will give a clear picture of what the coffee house will become in the future. The guiding principles or values will be considered in the topics of culture, social responsibility, and ethics. Next, you will see how the coffee house strategic direction of the coffee house is analyzed using its vision, mission, and values. Last, you will see how the coffee house addresses customer needs and handles competitive advantage. Heaven Treasures Coffee House Heaven Treasures Coffee House is a place where a person that had a busy day can go to wind down. Heaven Treasures is a business catered to the working class as well as students. People patronize the coffee house because of its values and beliefs. Here at Heaven Treasures Coffee House, we cater to our customers by giving them the best customer service by always smiling and giving them a warm place to spend time. Although Heaven Treasures Coffee House will be known for its...
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...Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business Karon Kanadjian Bus/475 June 24, 2014 Kathleen Kemmer Business Model and Strategic Plan Part I: Conceptualizing a New Product or Service Division of an Existing Business This paper will explain the strategic plan for Newmont Mining Corporation’s newest venture, while defining the vision, mission, and goals of this Corporation and how it will interlink. It will state the company’s values and will offer strategic direction while considering the culture, social responsibility, and ethics. It will show how the mission statement along with the vision and values will help the company to achieve success in its new venture of promoting gold in a new format, and how it will guide the strategic direction of the company. It will address the needs of the public and global economies and how the company will offer a competitive advantage over all other companies in this industry. Company History Newmont Mining Corporation is an exploration, refining, and marketing company of gold and copper. They operate in the US, Australia, Peru, Indonesia, Ghana, New Zealand, and Mexico. As of December 31, 2013 , Newmont employed 15,085 people with its headquarters in Denver, Colorado. For the year ended in December 2013, they recorded revenues of $8,322 million. They are considered to be one of the largest producers of gold in the world (“Newmont”, 2014). Vision ...
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...•Ch. 10: Questions 1, 7, 8, & 19; Question 1: Georgia Lazenby believes a current liability is a debt that can be expected to be paid in one year. Is Georgia correct? Explain. * That is correct. Otherwise (if over a year) it would be a long term liability. Question 7: (a) What are long-term liabilities? Give two examples. * Debts that must be paid for a period in excess of a year. Long term note payable; mortgage (b) What is a bond? * A bond is a form of debt Question 8: Contrast these types of bonds: (a) Secured and unsecured. * A secured bond has a claim on something (revenue or property) unsecured has no claim and is just the credit of the person repaying. (b) Convertible and callable. * Convertible means that the bond can be exchanged for common stock. * Callable means it can be taken by the person issuing it at certain times for a certain price. If the holder can hold it to maturity is not callable. Question 19: Valentin Zukovsky says that liquidity and solvency are the same thing. Is he correct? If not, how do they differ? * They are different - Liquidity and solvency are dashboard signs of your financial health. The former, also known as cash flow, measures your ability to pay monthly bills and meet emergencies that require cash. Solvency refers to net worth, which is how much you have left to call your own if you pay off your debts. Brief Exercise BE10-1; BE10-1 Kananga Company has these obligations...
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...Professional Selling In order for a company to get off the ground, much of the time they need to sell the product through different promotional strategies. This could be through advertising or door to door sales, whatever the company feels will help sell their product. Pet Buddy is in this exact situation now as they are in the introduction phase. They are trying to get off the ground anyway they can, and in order to do so, they must get out and use professional selling. In business they usually say, “Nothing happens until someone sells something”, this could not be any truer ("Professional Selling", n.d.). The company cannot continue to pay their payroll and spend on research and development if the product is not selling. The company just needs to decide how they will sell their product. Different Promotional Strategies The Pet Buddy Company has decided to go through a few different promotional selling strategies in order to get their feet off the ground. They will use minimal advertising at first because they will need the funds in order to advertise as advertising can be fairly expensive. This is why it is important to find the right person to get cheaper advertising through newspapers and flyers, but get the “bang for their buck” they are looking for as well. They will use also use digital marketing and the same applies to digital marketing as does it to advertising. The real selling happens in the other strategies including; sales promotions, direct...
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...Strategic Plan Part 1 Walt Disney: Conceptualizing new service division Will Johnson BUS/475 March 12, 2015 Frank Bearden Strategic Plan Part 1: Conceptualizing new service division Introduction The Disney brand is a global powerhouse, renown for entertaining hundreds of millions of people over the past 75 years. Founder Walt Disney (d. 1966) took a simple vision of an animated mouse and turned it into a fantastical empire full of breathtaking imaginations come to life. The Disney Company is an organization which embraces constant innovations, one which the corporate world admires. It is because of this restless and intrepid spirit that Disney consistently lands on Forbes ‘Best Of’ lists, including Most Reputable Businesses and Most Valuable Brand (Forbes, 2014). Some of Disney's breakthrough innovations include the first motion feature using sound (Steamboat Willie), the first full-length animated feature film (Snow White), the first ‘4-D’ feature film (Captain E/O starring Michael Jackson), and the world’s first fully-interactive ‘themed park’ (Disneyland). This ‘company of firsts’ highlights the importance of an organization staying true to its mission statement while pushing above and beyond, breaking new ground with bold, visionary ideas. But Disney is not done. The Disney Company doesn’t rest on its laurels; and there are still new frontiers to discover in this illustrious company. Having developed new advancements in entertainment, Disney now points its...
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...Business Model and Strategic Plan Part I: The Shooting Gallery Wayne Niswander BUS/475 September 4, 2014 Shannon Mathis-Roberts Business Model and Strategic Plan Part I: The Shooting Gallery Within the city limits of Temecula and Murrieta California, there are six businesses that sell firearms and ammunition. However, there are very few locations nearby for people to go and shoot. For this project, the writer will discuss a business proposal for a shooting range that will be located within close proximity to Temecula and Murrieta. Some of the topics to be discussed are the company’s mission and vision and how they relate to the overall strategic objectives of the company. The Shooting Gallery will be an indoor shooting range within the city limits located in the commercial district in the far western end of the city away from any residential areas. The company hopes to draw customers from Moreno Valley to Lake Elsinore to Escondido. Mission and Vision Mission Statement The premise for “The Shooting Gallery” is to create a place for customers to patronize for the purpose using their firearms. The mission of the Shooting Gallery is to provide the firearms enthusiast a safe and inviting environment in which they can enjoy the sport of shooting. For gun owners in the immediate area there are not many locations at all to go and shoot. There is a shooting club in eastern Murrieta that requires membership and another range just south of Temecula in the Rainbow...
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