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Strategic Planning for a Medium Sized Business

In: Business and Management

Submitted By honeybeelayne
Words 3462
Pages 14
Executive Summary
Comfort Care Pharmacy is at an exciting and expansive stage of development. To guide this next stage of growth, it is necessary to implement strategic planning. This document presents the interrelated stages of crafting and executing strategy as it relates to Comfort Care Pharmacy with emphasis being placed on the first three stages of the process. Little emphasis is placed on the two final stages of the process however there critical importance and effects on the strategic making process is briefly discussed.

Table of Contents
1. INTRODUCTION 1
2. BACKGROUND 1
3. VISION STATEMENT 2
4. MISSION STATEMENT 2
5. STATEMENT OF VALUES 3
6. ENVIRONMENT ANALYSIS 4
6.1. ANALYSIS OF THE EXTERNAL ENVIRONMENT 4
6.2. ANALYSIS OF THE INTERNAL ENVIRONMENT 4
7. STRATEGIES 5
7.1. GENERIC COMPETITIVE STRATEGIES 5
7.2. BUSINESS STRATEGY 6
7.3. FUNCTIONAL STRATEGIES 6
7.3.1. Procurement Strategy 6
7.3.2. Online Marketing Strategy 7
7.4. IMPORTANCE OF IMPLEMENTATION, EXECUTION AND EVALUATION OF THE DERIVED STRATEGIES 7
8. CONCLUSION 8
9. RECOMMENDATIONS 9
10. REFERENCES 10
11. APPENDIX A: PEST ANALYSIS FOR COMFORT CARE PHARMACY 11
12. APPENDIX B: SWOT ANALYSIS FOR COMFORT CARE PHARMACY 12

1. Introduction
Comfort Care Pharmacy is the largest pharmacy in the Tuschen Housing Scheme, and has seen considerable growth since its establishment in 2008. Given the significant growth; the company has recognised the need to plan strategically.
This paper is divided into seven sections. The first section gives a background of the business. The second, third and fourth sections aim to develop a vision statement, a mission statement and a statement of values, and explain their appropriateness. In the fifth section an analysis of the external environment is conducted using PEST...

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