Final Strategic Plan of JDs Way of Life - Case Study Example

Final Strategic Plan The management of JD’s Way of Life has designed a comprehensive strategic plan for its corporate venture in which it has described in details the blueprint and roadmap of the scheme it intends to observe for successful launching of its business activities. Since it has established very high aims of hitching it wagon to the stars, its ascribed vision is to surpass all existing firms and companies in respect of providing various consumer items, particularly healthcare, jewelry and computer accessories, at economical rates without making compromise on the quality of the products. The company will provide the customers with excellent environment, so that they can complete purchasing free from disturbance or interruption. The company maintains broad mission of establishing a friendly, comfortable and accessible environment carrying thousands of big and small items for the customers belonging to divergent racial, ethnic, religious, age and gender groups, so that the individuals can make buying for themselves, their spouses, parents, children and friends. Hence, JD’s Way of Life would serve as an incredibly dazzling, lavish and luxurious point for the public to visit or request an order through the internet or over phone to buy the items for personal, domestic or business purposes. Furthermore, the company would establish a market research department within its setup in order to have a permanent eye on the transformations and developments being made in corporate sector at local, national and international scales. It will prove imperatively beneficial and advantageous in respect of revising corporate policies of the company in the same lines as the changes will be taking place in the entire corporate sector. As a result, the company will appear to be the trend-setter in healthcare products, body items, fashion and design, professional tools and techniques and other items of daily use. The company will offer its services 24/7, and the customers would be able to place orders any time according to their convenience and requirement. Establishment of strategic board for caring, safeguarding and promoting the core values of the customers belonging to different groups and communities is also included in the business plans of JD’s Way of Life. The company aims to provide extra benefits to its permanent customers by offering discount packages on some specific numbers of visits as well as on making some particular range of purchasing. It will not only be pleasant for the customers, but also their trust will increase in the company as a customer-caring organization. Moreover, the company intends to capture the attention of the customers by offering special gifts and presents at the eve of Christmas, Easter, Yom-e Kippur, Eid and other religious festivals and national holidays. It will certainly accelerate the sales volume of the company and will be helpful in respect of achieving its strategic objectives. Consequently, the company would earn the name and fame of multi-cultural organization all over the region within which it is going to launch its operational network. Consequently, the dream of becoming the market leader would turn out as reality for the management within few years of entering into the market. Market standing, innovation, financial stability, productivity and customer satisfaction are the strategic objectives of the company. Market standing will be achieved through strong social contacts, powerful advertising campaign by marketing and sales staff and quality control department. Public relations officers will also be hired to ensure development of business relations with big companies. Innovation will remain the most exciting factor in the list of strategic objectives determined by the company. Innovative ideas are the most significant apparatus to capture the minds of the customers. There would be innovative experiences in décor, design, presentation, services and customer values under the visionary and imaginative leadership of the company. The team of employees and workers will remain active and well alert to guide and help the visitors in different rows and zones of the organization. Booking and entertainment of orders over phone and internet will remain intact through the company’s platform. The dazzling lights, air conditioned halls, slow musical tone, large LCDs, decorated shelves, walls and racks and peaceful environment would make the visits a pleasant experience for the consumers. Consequently, the display centre will appear as a fantastic place of visiting and purchasing for all age groups, genders and communities. Highly educated, experienced, competent and customer-oriented staff will be one of the strengths of the company besides presence of multiple high quality products of daily use at discounted rates under one roof. JD’s Way of Life would be the first company to introduce latest arrival in the market. Its continuous contacts with famous brands and commodities producing and manufacturing companies would also be an edge over the rival organizations, and the consumers would have knowledge of the very fact that the company is the pioneer in introducing latest products in the area, which would enhance its commercial activities and business transactions and will be beneficial in making the company a sure success. Moreover, since the management has selected the ideal location for the business at the heart of the city, it would be easily accessible for corporate sector on the one hand, and housewives and the elderly on the other. Thus, wonderful location, innovative ideas, fastest communications with local and foreigner companies, availability of countless items of daily usage, best quality products, economical prices, educated and mannered staff and most pleasant atmosphere would be the strengths of the company. Besides several strengths and advantages, the company may undergo challenging state of affairs due to the presence of thousands of already working companies as well as the deteriorating US economy. The inclusion of the Chinese goods in bulk in the international markets has paralyzed the business transactions of American and European companies, as the Asian and African consumers prefer the commodities against low prices without taking the quality of the products into consideration. In addition, fastest possible alterations in the designs and performances of the items, particularly the IT products, may outclass the efforts made by the company in respect of providing the latest models and designs of thousands of consumer items. Somehow, the management of the company is well-acquainted with the would-be hurdles on their way to achievements. It is therefore, they have designed strategic plans to knock out these threats with the dogged will and counter attacks. A strong and powerful advertising campaign will be launched in order to communicate with the wide range of consumers at electronic and print media, which will convey the distinctive features of the services being offered by the company. Moreover, the company will enter into strong communication network with well reputed importer and exporter firms and corporations, so that no communication gap could interrupt the business ventures of the company. Since it is essential part of its strategic objectives that the company should remain well aware of the latest developments being made all around it, it will transfer latest information to its customers. The management intends to develop three effective methods to ensure the implementation of the strategic plans established at the beginning of the business launching. First of all, the management will apply workers evaluation scheme. Human resource department of the company will examine the proper allocation of duties to the personnel belonging to various departments of the organization. Meetings with managers and executives, time and again, are very necessary to assess the progress and estimate the developments being made within the organization. In addition, progress would be calculated through sales volume and visits frequency of the customers. The finance department will provide the statistics regarding the volume of investment being made in the business, as well as the pace and volume of revenue through sales. The sales, advertising and marketing departments could be monitored by the visits they make in the markets to meet the entrepreneurs and take orders for their offices, work places and residences. Hence, the work performance of sales staff could be assessed by the response of the professionals to their visits and consequent purchasing at the company. Since every corporate activity has direct relation with money, revenue and financial returns, growth in sales volume is compulsory for market standing, which is dependent of customer satisfaction. It is therefore, financial and sales matters are looked after adequately in the light of the proportional relationship between investment made by the company and the sales being made through its platform. JD has hired the services of qualified financial analysts, chartered accountants and business graduates in order to run financial matters on smooth waters. The company will make its accounts audit on quarterly basis and will makes further decisions accordingly regarding HR, sales, marketing and other departments. The recruitment of new staff and termination of inactive workers will be decided on the performance evaluation of the work force. Every business activity may observe some legal and ethical issues, which are intelligently addressed by the prudent management. The same is the case with JD. The legal issues faced by the company include change in the government policies and increase in taxes and duties on the American companies particularly outside the USA. The countries like China, Japan and India display prejudiced behavior towards the US based organizations and do not let them exercise their commercial activities in a free atmosphere; the failure of world famous search engine Google in the Chinese market is a case in point. The management of the company will enter into friendly relationships with the local political administrations outside the USA, which will prove supportive for launching its business activities in different zones and regions of the world. Regarding ethical issues, the company aims to patronize the values of the customers. It is therefore it would not offer legally and ethically prohibited things like alcohol, pregnancy control pills, cigarettes and sexually gratifying material particularly to the individuals less than 18 years of age. In addition, it will not sell the items produced by low profile companies, so that the consumers could escape purchasing inferior goods from its platform. Read More