Final Strategic Plan and Presentation
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Every business company eventually goes through changes, whether it is developing a new business or changing the direction of a company, the fundamental goals and values need to be determined before any changes can occur. Determining the values and vision of a company is crucial to its future. This paper will provide a description of Doggies World’s business vision, their values and mission and how that determined their strategic direction.
About Doggies World, this facility will be a place where a dog owner can come and purchase anything that has to do with dogs. You will find, dog toys, food, grooming, training options, medicine, and pet advice and most importantly this will be a place where owners could bring their dogs to socialize with others. In the facility there will be two sections one sections will be for simple dog socialization and the other will be an area where kids and families can rest or wait for their dog to finish being groomed or trained. The family area will provide water and a small play area for children, making the facility suitable for families as well. Doggies World wants to encourage dog owners to know the importance of socialization and want to provide a safe place where dogs can learn how to do so. All employees at Doggies World will be certified dog obedience trainers; their responsibility is to assist the dog owners with any tips or to simply help control aggressive behaviors. With the products and services that Doggie World plans to provide Petsmart and Petsco will be no competition.
First, a mission statement needs to be created. According to the Center for Business Planning the mission statement should be clear and succinct representation of the enterprise’s purpose for existence (Business Resource Software, Inc, 1994). The reason of a mission statement is to support the significance of the company. In the mission statement the intention of the business that relate with the product or service offered are distinguished. The Doggies World will provide services to both the owner and the dog. Services provided are dog training, grooming, dog food and supplies. The business will provide activities for the dogs and the dog’s family. Doggies World mission is to bring families together by helping them build relationships with their pets, and bringing knowledge to the community on how to raise a healthy dog.
Doggies World must also create a vision statement. The vision statement describes the businesses goals for the company’s expansion. “The visionary goals are the lofty objectives that the firm’s management decides to pursue” (QuickMBA, 1999). The vision of what the business wants to provide for the workers and consumers, all of which need to be accomplished in order to become the company that is envisioned. Doggies World vision is to become the most preferred dog store within the nation. By bringing a company where dogs and families are welcomed, the dog owners will have a choice whether to groom their pet or to simply let the dog play with others. The main goal for Doggies World is cater to the dog lovers out there, to promote healthy dogs and expand their company throughout the nation.
The guiding principles are point of views that guide a business through all circumstances, regardless of the changes made in its objectives, products or services the guiding principles remain the same. The guiding principles identify how a business will function. The Doggies World believes that all dogs should be treated as family, providing a facility where owners can bring their pet to a safe environment where the dogs can socialize and play can bring the owners and family closer to their dog. The following are the guiding principles for Doggies World.
Family first, this is a family business.
Always behave professionally and in an ethical manner.
Customer is always first.
All customers will be treated equally.
When a business combine the mission, vision and values the foundation for company is built, after the foundation is set strategic planning is followed. It is important that all employees are aware of the company’s purpose.
The vision, mission and values play an important role when determining the strategic direction of a business. “The mission, vision and values are supposed to be the North Star of strategic planning, the beacon by which organizations set their strategic compasses and then align their everyday priority setting” (Associated Xpertise INC., 2004). The vision states where the business plans to be in the future. The mission statement communicates the company’s motivation for what it believes in, and what the company wants to become. The values are the necessary beliefs that make a company’s behavior and decision making. The values are what states how a business should act when at work, with respect and ethical behavior.
The Doggie World is focused on providing the best experience for the customer, by providing feedback request from every customer who walks in the door. Providing employees with the proper training on customer serve and ensuring they acknowledge every customer who walks through the door. By encouraging employees to provide the latest products and services along with great customer service the Doggie World will have a competitive advantage in the market place. Doggies World will be providing the latest products and services specialized for dogs only and the key advantage is the socialization areas provided in the facility for dogs and families. If Doggies World continues to follow the plan based off the mission, vision, and values it created, the company is set for success.
When conceptualizing a business must have a plan, there are specific pieces that are significant in the process. The mission and vision statements are the first with which one must begin with. These conceptual plans can help a company to begin the beginning base of the business. If the process is followed correctly, this will allow the business to do well. It will obtain time to place all the important essentials. Vision and values statements are important to conceptualizing a business.
Strategic Plan, Part II: SWOTT Analysis
During the strategic planning process of accompany the main purposes and step process is being developed. This paper will discuss the step process and the major purpose for Doggies World. Formulating a strategy is the basic course of choosing the top techniques for a business, by analyzing the forces and trends. Management at Doggies World conducts a SWOTT analysis to help discover the best strategic plan for the company.
Strategic planning is an extensive and intense process yet it is the most crucial step. Before discovering the external and internal forces and trends a SWOTT analysis was conducted. The SWOTT analysis is way to figure out what the major factors are. The SWOTT analysis for Doggies World showed that there are many important factors that need to be considered and discussed before expanding the business. The following information will be based off the SWOTT analysis.
There are many factors that need to be considered when creating a strategic plan. There are many aspects need to be considered before proceeding with the strategic process for example, the economic, legal, and regulatory forces and trends. There is a great responsibility accepting various dogs into one facility, not knowing their temperament or behavior can be especially dangerous to a human and other dogs. First, I will discuss the legal aspect. Doggies World must be aware of the laws, and know how they affect their particular industry. Second, is economic tend. Managers at Doggies World must follow the economic trend and read the signals from the external environment. “The external environment directly affects each organization and each organization affects the environment” (Buhler, 1997). Third, are the regulatory forces and trends. Managers must be knowledgeable of the regulatory factors and know how they can affect the company. With this being said being aware of your corporate environment is very important and can greatly make an impact when making the strategic plan.
After recognizing the forces and trends a business should be completely aware of all possible issues that can arise and know not to underestimate a signal that is given from the corporate environment. Because there are many issues that could arise at Doggies World, the company must be prepared to adapt to change. Ensuring that all employees are trained effectively and all processes that are required are taken will keep Doggies World on the right track to success.
The supply and chain operation at Doggies World is consistent and effective. There is a process that has been given to manager to follow. The manager conducts a monthly analysis of scheduling and production, supply and demand, quality control, order fulfillment, and Sourcing products. This process that managers are required to follow ensures that the right amount of product is being ordered and that the demand of product is consistent. Once the monthly supply and chain operation plan is undergone the manager at higher ranking is then in charge of reviewing all reports. This process ensures that Doggies World is on track with its plan.
At Doggies World there is a high risk of many issues arising because dogs are unpredictable and cannot communicate like human do. At this time no major issues have arisen but manager are aware of potential issues that could arise. For example, a bad tempered dog can bite another dog or even human. Though Doggies World requires that all dogs are to be seen by the in-house veterinarian to ensure that no rabies or other illness is carried, a case like that is taken very serious. Employees are required to have all customers register their pets, a consent form and release is to be signed by all customers bringing in their dogs to socialize. A leash is required on all dogs and all rules must be followed. The form and release is a protection waiver written by a hired lawyer to protect Doggies World from any law suits. As far as opportunity, there is a great opportunity in this type of business. Since the trend of caring for your pets have increased there is great potential to expand to other cities. An opportunity to rescue and help other animals especially dogs have occurred and ultimately it is very rewarding.
Finally, conducting the SWOTT analysis made the strategic planning process easier. Discovering the forces and trends and reviewing important factors such as if the company can adapt to change are processes that many managers underestimate. Acknowledging the issues that could arise gives management an opportunity to have a plan to execute. These processes will open new opportunities for Doggies World and allow the company to continue to grow and to reach its highest potential.
Strategic Plan, Part III: Balanced Scorecard
Owning a business is not an easy task, a carefully thought of strategic plan needs to be prepared before launching the business. The success of a business relies of the strength of the strategic plan. The strategic planning process is what leads a business toward set goals and satisfying the need of the consumer needs and wants. Building a strategic plan is easier said than done. In the following paper three strategic objectives will be given, the components will be evaluated using the SWOTT analysis and the Balanced Scorecard method.
Doggies World small business owned by a local family who adore dogs. The purpose of the business is to help dog owners become aware of a dogs needs. The business is maintained by a husband and wife and 8 employees. Doggies World offers many dogs products varying from food to clothing. What makes Doggies World different from all other pet stores is that there are 2 designated areas in the store where dogs can be brought in to socialize with other dogs. Depending on the size of the dog there is a monthly fee that ranges from $20 to $35. It is optional to place your dog in the socializing area. Doggies World is a safe place where every dog owner will want to bring their dog, either to play, training or just because.
The balance scorecard “provides a basis for better strategic control that can lead to long term goals” (Pearce & Robinson, 2009). The balance scorecard has been created for Doggies World, covering customer, financial, learning and growth strategic goals and internal processes. The objectives used to create the balance scorecard will help Doggies World reach their goals and become a well know and successful company.
The customer section, Doggies World objective includes retaining loyal customer throughout the year. To retain customers throughout the year Doggies World must keep customer satisfied by offering holiday discounts, loyal customer coupons and regular customer experience surveys. The ideal target for the objective includes eight out of ten to return within the next month. While receiving surveys with a 85% customer satisfaction.
The financial perspective area for Doggies World is to increase profits during the holidays. Management will need to make yearly comparisons to ensure an increase in revenue. During the holidays management will need to perform a competitor analysis, which includes keeping track of our competitions sales and events. Doggies Worlds new target to increase profits during the holiday includes a 25% increase, the initiatives include offering lower prices, provide frequent incentives and offering holiday events for dogs.
In the learning and growth section, Doggies World objectives include assigning each employee personal goals, increasing training for employees regarding product. Once goal is reached employee is rewarded. This plan is to motivate employee to sell and recommend product to every customer that walks in through the door. The target includes increasing product knowledge by 70%, and to increase monthly product sales by 25%. Initiatives consist of improving communication with staff members and providing regular product training.
For the internal process, Doggies World objectives consist of customer satisfaction, increasing productivity and focusing on product. This will be achieved by giving surveys, employee evaluations, and frequent competition analysis and management evaluations. The objectives basically include 85% customer satisfaction, increasing profits by 25% with new product, and retain our customers as well as our competitions customers.
A SWOTT analysis was also performed for Doggies World, the sections consist of strengths, weaknesses, opportunities, threats and trends. There is much strength within the company, the most important was increasing dog awareness to others and the new trend of animal lovers. A huge weakness is the liability and costs of the spacious building. For opportunities, there is much potential of expansion and partnership with other companies who support animal awareness. As far as threats, it is out competition. Our competition is Petsmart which is a nationwide company that is well known. As for trends, the new animal awareness trend has increased tremendously and has many supporters.
Finally, Doggies World has used many tools to help out with the strategic plan. Managers at Doggies World have learned that a company must differentiate from the competition, by creating a safe socializing location for dogs is what makes Doggies World different. By the creation of a scorecard analysis Doggies World has been able to set its priorities in order to reach its goals in the long term.
Final Strategic Plan and
The vision and mission of a business is critical, letting the audience know that the business has strong values can benefit the company in many ways. The consumer enjoys shopping at stores that have a purpose and message. The vision is what keeps all employees, especially decision makers motivated to reach their goals. Doggies World has gone to great extents to ensure that they are on the right path to reaching their goals. The company went through many different types of analysis. For example: the SWOTT analysis, and the balanced scorecard analysis. After reviewing each analysis and going though all the strategic planning processes Doggies World will now have to analyze marketing and information strategies, develop methods to monitor and control the strategic plan and recommend actions needed to address ethical, legal and regulatory issues.
For a business, the marketing and information technology strategies and tactics are the most practical plan to be implemented to a company. As far as the marketing strategies; Doggies World will try to spend the least possible amount for advertisement. Using the free tools available and word of mouth, Doggies world is determined to say and print the right verbiage to attract the consumer. For the technology strategies, Doggies World conducted a research regarding the latest and efficient technology. Doggies World plans on staying up to date with its technology by upgrading their computer systems and protecting it with a recommended antivirus program.
Doggies World plan to monitor and control the strategic plan by hiring a third party team who is dedicated to delivering roadmaps for improvement and monitoring the entire company to ensure the path to success is on track. The first method to be conducted is adding a system of regular communication between the proposed team and management at Doggies World. Second method is conducting monthly reports to ensure that sales and other plans are being met. Third, conducting regular analysis such as the scorecard, the scorecard will keep Doggies World focused on what is actually being achieved and what not.
Doggies World strongly encourages managers to act as role models to their employees. Managers will need to complete certain certifications to ensure the awareness of ethical, legal and regulatory issues. A manager must know how to handle possible issues for example sexual harassment, and theft. The certifications will be a requirement. Part of the process includes conducting monthly employee and management reviews. Room for improvement is always available; Doggies World will continue to implement new tactics to
improve corporate citizenship.
Finally, opening a new business is not easy. There are many risk and the changes of opening a successful new business are low. For this reason, we well thought out strategic plan is mandatory. The consumer is the number one priority for Doggies World. Providing a safe and diversified environment where employees can learn is what management at Doggies World strives for. Through the plans and techniques Doggies World is sure to reach the ultimate goal of spreading awareness of the needs of pets.
Pearce, J. A., & Robinson, R. B. (2009). Formulation, Implementation, and Control . In Strategic Management (p. ). : McGraw-Hill.
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Associated Xpertise INC. (2004). _Mission, Vision, Values_. Retrieved July 1, 2010, from www.axi.ca/mar2004/associatearticle/
Business Resource Software, Inc (1994). _Mission Statement_. Retrieved July 1, 2010, from www.businessplans.org/mission.html
QuickMBA (1999). _Strategic Management: The Business Vision_. Retrieved July 1, 2010, from www.quickmba.com/strategy/vision/