Strategic Plan Analysis – Barnes & Noble

Barnes & Noble is a company that was founded and owned by actual booksellers. To this date, they are the nation’s largest bookseller and employ more than 50,000 booksellers in the 800 stores around the nation. Leonard Riggio is the founder and chairman with a vision that bookstores could be the place where people could be and become (www.barnesandnoble.com). In this paper I will look at Barnes & Noble’s vision, goals and objectives as well as their strategic plan and will give a SWOT analysis of the company.

Barnes & Noble’s mission, vision and values include not only the customers but also the authors, booksellers, shareholders and the communities they reach. For the customer they will strive to offer a special experience each time they come to or do business with Barnes and Noble. They are committed to provide a friendly comfortable environment with helpful and knowledgeable booksellers at the best price (www.barnesandnoble.com).

For the authors their mission is to provide the best environment to showcase their works and creating forums for the exchange of ideas and opinions with the readers. For the booksellers they create and maintain a fair, professional and diverse workplace with friendly and supportive stores and offices.

The management team is committed to a strategy of growing the company to build the most value for the shareholders over time. Barnes and Noble considers the community to be their friends and family and will strive to give back to them through events, educational activities and programs to books back in the hands of disadvantaged children.

I really do not have any recommendations on their strategic planning as I find it to be pretty solid. They are committed to building stockholder value by addressing today’s fast paced economy. This process includes regular senior management meetings where they set short and long-term initiatives as well as extensive planning and development of annual operating and capital expense budgets (www.barnesandnoble.com). Their strategic plan also involves input from all levels of company management through periodic meetings and electronic communications.

Part of the critical role in their strategic planning, the Board review and approves the annual operating and capital expense budgets as well as new initiatives such as their successful entry into the retail video game market. The Board and management will also strive to create an open communication’s line and a facility of interaction to deal with any problems that arise.

References

Barnes & Noble Booksellers (2002). Our Company. [Online]

Available: http://www.barnesandnobleinc.com