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Planning and Goal Setting - Research Paper Example

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Vision Statement: To make our bakery the ultimate choice of customers. This vision statement can be improved by making it more focused. This can be achieved by defining what we do that would help us become the…
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Planning and Goal Setting
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Planning and Goal Setting School Planning and Goal Setting Question Let’s suppose we have a bakery that produces gluten-free products. Vision Statement: To make our bakery the ultimate choice of customers. This vision statement can be improved by making it more focused. This can be achieved by defining what we do that would help us become the ultimate choice of customers and what category of customers do we make our efforts for as not everybody can be satisfied at the same time. Incorporating these changes, the final vision statement should be; Moonlight Bakers is committed to producing the best quality and low-calorie gluten-free products for the weight-conscious customers with a sweet tooth. I have suggested these improvements to provide the customers with a clearer perception of what our business is about. In addition to that, the revised vision statement clearly mentions the aspirations and goals of the Moonlight Bakers that are required to be known by the company’s leader to make advancements for their achievement. Besides, development of a powerful vision statement is fundamental to the strategic planning and attainment of competitive advantage for the Moonlight Bakers.
Question 2
I would do some literature review to note down the benefits of making a business plan as well as to collect information about companies that attempted to started new businesses in the past but failed because of lack of a business plan. I would say to the CEO, “Sir, it is in the air that you are about to take over a new business. If that is the case, may we please have the opportunity to make a business plan for you? It is very useful while starting a new business in the contemporary age. I have done the literature review and these are some files I would like to share with you.” The rationale behind my soft words is that I don’t want to offend him that we know his plans even though he has not shared them with us. Secondly, I have tried to convince him with proofs of benefits of using a business plan in such situations.
Question 3
In the contemporary world that is changing at a fast pace, leadership with vision or visionary leadership is required for the organizations to thrive and stay competitive (Kantabutra and Avery, 2010, p. 37). Making vision statement is a preliminary step in the development of such leadership since the goals of the leader are aligned with and retrieved from the ones mentioned in the vision statement. Development of the vision statement is one of the vision driven strategies employed by organizations to succeed. “[O]rganizations which utilize effective
vision driven strategies as a method to increase competitive advantage in the global marketplace are able to sustain above average profits” (Olcer, 2007, p. 229).
Business plans maximize the chances of success of a new business as they serve as schedules for the commencement and development of the business and can be used for different kinds of purposes including assessment of the likelihood of the business’s success, and collection and identification of the sources of capital (Chimucheka, 2012, p. 4958).
References:
Chimucheka, T. (2012). Usefulness of business plans to small, micro and medium enterprises in
East London, South Africa. African Journal of Business Management. 6(14): 4957-4963. Retrieved from http://www.academicjournals.org/AJBM/PDF/pdf2012/11April/Chimucheka.pdf.
Kantabutra, S., and Avery, G. C. (2010). The power of vision: statements that resonate. Journal
of Business Strategy. 31(1): 37-45. Retrieved from http://www.cmmu.mahidol.ac.th/research/images/VisionstatementsJBS.pdf.
Olcer, F. (2007). Characteristics of Visionary Companies: An Empirical Study in Turkey.
Problems and Perspectives in Management. 5(3): 229-240. Retrieved from http://www.businessperspectives.org/journals_free/ppm/2007/PPM_EN_2007_03%20cont_Olcer.pdf. Read More
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