Strategic Plan, Part I: Conceptualizing a Business
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 from the competition by having a good location in a high-shopping area, offering quality products, and excellent customer service.
Products and services will be offered in-stores and online. Mission Statement – To provide modern young women with a boutique that offers a fun and comfortable shopping environment – To offer a wide variety of trendy fashion and accessories to make sure customer always find something they love – To help women learn what styles and colors go best with their unique body types and personalities Vision Statement – To be the boutique of choice for young, modern women To open many stores throughout the country and drive up sales by promoting our products effectively Guiding Principles or Values – Customers are our priority. Always make an extra effort to make sure customers are satisfied with our products and services – Educate customers about new trends and how to style their purchases properly. Make sure customers needs are met – We encourage and promote cultural and ethnical diversity in our stores. Employees from different cultural and ethnical backgrounds bring to our company a true reflection of our society – Our employees are our greatest asset.
We encourage employees to share their creative and innovative ideas to improve our company – Our company provides a fun working atmosphere and promotes personal growth and development. We strive to offer our employees a healthy work-life balance – Respect and honesty must always be present when dealing with our customers, vendors, and employees. We do not engage in acts that can be detrimental to the reputation of our company – We conduct our business with social responsibility.
Our products are purchased from socially and environmentally responsible vendors. We also contribute to improve society by volunteering and helping in social causes – Employees will adhere to the highest ethical standards at all times The mission, vision, and values statement for my company provide the structure, framework, and goals in which all the actions will be based on. The mission and values provide the framework to guide every action in the strategic plan. The vision is our objective, what we want to accomplish for our company in the future.
The mission, vision, and values set the right direction for the company actions. Employees must know that their actions affect the overall mission, vision, and values of the organization. These statements are the guiding principles for the company strategic plan, for that reason employees actions should always reflect the mission, vision, and values statements of the company to ensure its success. The trends in fashion are always changing, Bella Boutique will have to be alert of the new trends to keep customers satisfied.
Another resource to make sure the company is addressing customers needs is to have customer satisfaction surveys, allowing the customers to express what they like about our store and what they would change. Bella Boutique will have plenty of local competition from many other boutiques. The most direct competitors will be those with the same concept, located in the same area, carrying some of the same brands we sell, and advertising to our target market.
Besides the trendy and affordable clothing and accessories, Bella Boutique will create a significant competitive advantage by providing a place to shop with a fun, comfortable, and welcoming atmosphere. In addition, Bella Boutique offers a superior customer service, and we strive for 100% customer satisfaction. Another unique feature of Bella Boutique that creates competitive advantage is the free personalized styling service, in which a professional stylist helps the customers find the right pieces of clothing for their body type and personality.
Bella Boutique locations will be designed with comfort and convenience in mind, the store will be decorated with contemporary furniture and painted with inviting colors. The store will have big private dressing rooms with plenty of hooks to hang the clothing pieces and an assigned employee to assist customers. Also for more convenience the store will have small and elegant shopping carts to make the shopping experience more enjoyable. In addition, the store will have a dedicated kids room where the customer’s children can play while their parents shop.
The kids room will also have a nursery portion to allow customer to feed and change small babies. In conclusion, this paper defined the concept of Bella Boutique along with its products, services, and customers. The mission statement was developed to explain the concept of the business. The vision statements are clearly defined to show where the company is heading and the values reflect how the company will conduct business. The mission, vision, and value statements help align the different elements of the strategic plan with the company goals.
By creating and implementing the mission, vision, and value statements Bella Boutique, defines the current situation of the company and have a clear understanding of where the company is heading. References Thompson Jr. , A. A. , Gamble, J. E. , ; Strickland III, A. (2006). Strategy Winning in the Marketplace. McGraw-Hill. www. bplans. com. (n. d. ). Retrieved 11 19, 2012, from http://www. bplans. com/womens_clothing_boutique_business_plan/company_summary_fc. php. www. brainmass. com. (n. d. ). Retrieved 11 19, 2012, from http://brainmass. com/business/marketing/286812.