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Strategic Plan, Part I: Conceptualizing a Business - Essay Example

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Introduction In the highly fluctuating business dynamics, Fast food restaurants have huge market potential. In the cutting edge business paradigms, the fast food centers provide the professionals and working population with much needed outlet of relaxation from the stress of hectic work schedules…
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Strategic Plan, Part I: Conceptualizing a Business
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Download file to see previous pages It ensures customer satisfaction by meeting the changing requirements of its customers across geographical boundary. The restaurant was primarily conceptualized in terms of changing paradigms of competitive business in the era of transforming technology and rapid globalization. Its strong vision, mission and value system have helped it to maintain its niche market position even during recessive business environment. It caters to the demands of its customers coming from different demographic segmentation. Indeed, its current success can be contributed to the long term vision of its founding members who had realized at the outset the importance of customer satisfaction. Vision, mission and value system of business The vision and mission are critical elements of success for the business as they provide it with strong motivation to be creative and consistent in its performance (Pierce & Robinson, 2009). The vision and mission of the business can be described as below: Vision Our vision is primarily focused on becoming the best fast food restaurant in the world that is able to meet the challenges of time with exemplary efficiency and unmatched proficiency. Mission The mission statements of our business would reflect its customer centric policies through planned strategic initiatives so as to meet its long term vision. Become the best fast food restaurant and establish brand credibility in the field of food and hospitality services. Anticipate customer’s changing needs and provide multiple services from single window. Grant, (2007) believes that identifying and analyzing changing demands of the customer is a key to the success of a firm. The restaurant would continuously analyze its customer database to meet the changing requirements of its customers. Provide quality customer service that is affordable and facilitate customer satisfaction at all levels of communication by meeting their requirements and demands. Value system Core values of the organization are its major strength that provides it with strong edge to maintain its competitive advantage. Its core values are inherently aligned to its goals and objectives of providing state of the art customer service and quality food at competitive prices. Its value system broadly works within the following precincts of guidelines and strategies: It is committed to diversity at workplace and promotes equity amongst its workforce. Helps create conducive environment and facilitating ambience for its customers cutting across the divide of race, culture, color and nationality. It ensures ethical considerations in its business dealings with all its stakeholders like customers, suppliers, shareholders, investors and public at large. It is committed to accountability in its action, honesty, fairness and integrity within its business operations. It strongly believes in sustainable business practices and encourages environment conservation within and outside its business operations. Strategic business plans The business goals and objectives create value through customer satisfaction. The restaurant would use state of the art technology to provide the customers with ultimate experience of comfort, relaxation and quality product and services at affordable prices. It would take into considerations the need and requirements of the customers through customization of products as per their changing preferences. At the same time, it would ensure that food has adequate nutrition by providing ...Download file to see next pagesRead More
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