Conceptualizing a Business
Strategic Plan, Part 1: Conceptualizing a Business Atonio Latu BUS / 475 February 10th, 2013 Sarita Wesley, Ph. D. Strategic Plan, Part 1: Conceptualizing a Business Starting a company such as TL Concrete Service requires strategic plans and the factors that will support the business development start-up stages.
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TL Concrete is a small company with five employees planning and implementing services. The company provides services on concrete drive ways, patio, and side-walks. The company offers free estimate, low cost, and 5 years guarantee on every job.
It is vital for the company to seek and develop the right mission, vision, and values. These important factors will act as a road map to guide and maintain the company’s goals; customers’ satisfaction and profitability. TL Concrete mission statement will define the company’s goals. A good vision statement provides direction and purpose for the company to follow through. Core value identifies the importance of the employees and their behavior toward the company’s goals. Concrete service is a good business because people always need hard driveway surface, smooth walk way outside the house, and a patio for the outdoor activities.
The company will estimate, form the foundation or the platform, pour the concrete, and remove dirt and trash afterward. It will cost more to install new surface than to replace the existing one. One of the advantages of this type of service is that concrete is pre-mix or ready mix by another service provider. The same service provider that ‘ready mix’ the cements also deliver and pour the concrete at the requested site. The cost of the cement is including in the estimate. TL Concrete future endeavor is to provide services for commercial buildings and commercial complexes.
Another future plan for this company is to obtain public contract on major projects. The company’s strength relies on the experience of the employees to provide services, but also the experience of the company to conduct business. Strong relations between the company and its customers will guarantee to maintain loyal customers. The company will adjust and adapt to any future internal and external factors that will affect the company. For example, most customers are using regular cement on their driveways and walkways. Now, people are starting to use the stamping driveway which cost twice as much as the standard type.
TL Concrete will provide data to those who needs surfaces because everyone else is switching to the new format. It is the company obligation to explain and provide data and explain the benefit and the disadvantage of the new products. We consider our mission statement a promise to our customers, and deliver on that promise (Bill Gates, 2013). A powerful mission statement will keep the company focus on its goal regardless of any changes occur within the business. TL Concrete Service mission statement should read,” We provide customers with the best quality concrete service at low prices since 1990”.
The company ensures that these words are not created to decorate the wall plaque; these words are to get across the purpose and the objective of the company. The mission statement identify the most important idea behind the company; best quality service. The year 1990 indicated that customers trusted this company and keep it operational for these years despite the economy downturn. There were many successful concrete company operated prior to 2008, the downfall of our economy. Customers were looking for the companies that provide the best concrete service, money was no object.
Customers were paying more that the regular rate to attract better services. The post 2008 changed how companies approached their customers, and how loyal customers approached these companies. Companies filed for bankruptcy and the cements manufactures raised the price of the pure cement which in turn increases the price of the concrete. A mission statement will keep TL Concrete Service to focus on generating profits and customers’ satisfaction. The vision statement is also vital to the strategy plan of the company. It reveled to the loyal customers and the potential customers the purpose and the tools used to accomplish the company tasks.
I enjoy reading the Allstate Insurance because it is short and brings out the purpose of this company. Allstate vision statement reads: “to reinvent protection and retirement for the consumer” (Bright Hub, 2010). TL concrete should provide a vision statement that indicates the same purpose as the Allstate Insurance, to guarantee how the employees understand the individual tasks as well as the team work. TL Concrete vision statement should read: “To serve our loyal customers and potential customers’ thorough honesty and respect for anyone we provide service to”.
The vision statement indicates the importance of the customers and strive the company to stay focus and the purpose; customers’ satisfaction. The company’s vision also generates the company values because customers deserve respect and honesty for the company. The company should have the value of doing the right thing because it is the right thing to do. This attitude generates moral value, ethical standard, and integrity. These are the basic foundation of the code of values created by TL Concrete. Moral values consist of trustworthy, loyal, and courteous.
Ethical standard is doing the right thing to provide the best service available to the company and the customers. Honesty is the best policy, and integrity keeps the employees focus on the values indicated by the company. These values will earn the company’s reputation and in turn, attract more customers. The company should value the customers’ feedback and their suggestions of not only what needs to be done, but how to proceed with the work. Mission statement, vision statement and values are three important models that most successful companies accepted.
These models create concepts of prospect, directions, values, and opportunities for the company and its customers. These models of strategic plan co-exists, one item cannot exist without the others. I believe there are companies that do not have vision statement. Kevin Clancy, a marketing researcher wrote, “A few people around the table began to describe the brand’s global positioning strategy, but it had nothing to do with what we would call a vision. It was not even much of a positioning. Eventually a manager from England asked, “What do you mean by ‘vision’? ”(Clancy, 2012).
A vision statement brings hope, dreams, and the reason to stay operational. Mission, Vision, and value each presented different meaning to the company’s goals. Mission is the goal, vision is the purpose, and value is what takes to accomplish the goals. References Bright Hub. (12/2010). The hub for the bright minds. Retrieved from http://www. brighthub. com Kevin J. Clancy. (2012). Shocking Truth of the Month. Retrieved from http://www. thekevinclancy. com Microsoft Accessibility. (2013). Mission. Retrieved from http://www. microsoft. com/enable/microsoft/mission. aspx