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Strategic retail plan for Spinneys - Essay Example

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Arthur Spinneys initiated the supermarkets’ development in 1924. Spinneys started operations in Egypt and started with one store dealing with groceries and fresh produce. By the end of…
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Strategic retail plan for Spinneys
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Strategic retail plan for Spinneys Strategic Retail Plan for Spinneys Spinneys refer to a chain of supermarkets operating in the Middle East and North Africa. Arthur Spinneys initiated the supermarkets’ development in 1924. Spinneys started operations in Egypt and started with one store dealing with groceries and fresh produce. By the end of 2011, Spinneys had opened seven stores. A situation audit is a continuous re evaluation process in a company. It involves continuous keenness of daily changes in the company and its external environment and how their effect will be felt in future. Situation audit gives a strategic plan of company future prospects and suggest ways of reaching the future successfully (Anderson, 2005). This paper will conduct a situation audit for Spinneys.
The plan will involve doing an analysis of the company internal and external activities. This will mean doing a SWOT (strength, weakness, opportunity and threats) analysis. The plan will assist in developing the mission statement and assist in developing the core values of the business. The plan will help in developing goals and suggest ways of accomplishing those goals. Spinneys require an effective, strategic plan to continue growing and improving. The plan assists in monitoring and evaluating the company capabilities. The plan will provide crucial information required to update and improve the company in general. A situation audit for Spinneys will commence with a frame work evaluating the objectives, strategy and capabilities of the company (George, 1987). The frame work will assist the company gauge its’ strength, know its areas of improvement and how to relate with the external environment. Spinneys mission statement is to create value to customers, employees, share holders and all partners. This mission statement is not effective as it does not give a continued direction and focus of the supermarket chain stores (Steen & Avery, 2010). A vision statement should show hope for the company and customers. Spinneys vision statement states the desire of the company to grow in Lebanon. The statement has failed in that it does not show any hope for the customer.
The value statement is equally valuable in a situation audit. It depicts the fundamental values of a company. Spinneys’ value statement which include - Respect, Integrity, Customer Satisfaction, Team Spirit, Performance and Corporate Citizenship combines the interest of all stakeholders. The external analysis of Spinneys Company is favourable. The company stake holders have a positive impression. Spinneys Company enjoys volume sales. This has resulted from the good reputation of the organization and professionalism of the workers. However, the company has been a victim of civil war and political instability in some countries like Lebanon. In identifying strategic issues, the company must continue developing strategic goals to achieve in the coming years. The goals should reflect the core values of the business.
The company should continue hiring employees who has specialised qualifications to assist in implementing strategies. The development of an effective, strategic plan has helped the Company to continue enjoying a substantial market share. The company has taken the initiative to preserve the environment like introduction of re usable bags and use of energy saving bulbs. The company has also banned smoking inside its stores. The company is also supporting the community through funding of charitable events. In conclusion, the stores champion the needs of each and every person around them.
References
Anderson, G. (2005). Framework for marketing planning. Michigan: Michigan Business School.
George, C. (1987). Antarctica, Cambridge conservation and population. New York: G.C.L. Bertram publishers.
Steen, T. & Avery, J. (2010). Marketing Analysis Toolkit: Situation Analysis. Harvard: Harvard University press. Read More
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