Strategic management course Create a hypothetical organization offering product
ID: 372115 • Letter: S
Question
Strategic management course
Create a hypothetical organization offering product /service of your choice. Identify a real potential competitor in the market.
Name your product/service as well as organization.
Write the mission and objectives.
Scan and assess the external environment to determine the strategic factors that pose opportunities and threats.
Scan and assess the internal corporate environment to determine the strategic factors that are Strengths (especially core competencies) and Weaknesses.
Analyze strategic (SWOT) factors to (a) pinpoint problem areas and (b) review and revise the corporate mission and objectives, as necessary.
Generate, evaluate, and select the best alternative strategy in light of the analysis conducted in step 5.
State how you are going to implement selected strategies via programs, budgets, and procedures.
State how you are going to evaluate implemented strategies via feedback systems, and the control
of activities to ensure their minimum deviation from plans.
Guidelines
Before carrying out a SWOT analysis, consider the following guidelines:
Be realistic about strengths and weaknesses. When performing a SWOT analysis on your business, be neither modest nor overly optimistic.
Consider answers from the company’s point of view and from the point of view of customers, vendors, distributors, and others who do business with them.
Distinguish between where the organization is today and where it could be in the future.
Note that the SWOT is subjective. No two persons will come up with the same SWOT.
Explanation / Answer
The organisation is a service industry offering restaurant service ( both dine in and delivery). The firm can also provide and arrange food for parties and for othr functions based on prior booking.
Mission & Objectives: To become a leading resturant chain across North American region with unique value propostion. Attracting customers through quality service food with zero tolerance on hygeine and health.
External environment: American food habbits are bit different from other continents as they prefer food joints offering fast food menu. Thus the restraurant which has mix of healthy stuff, continental and American taste can obvioulsy give a competitive advantage. There will be stiff competition from many retstraurant outelt because they have already estabilished in those region with their customer service quality and food quality. Still there are lot of opportunity for market exploration due to density of population and young crowd presence in states like Florida, NJ etc.
Internal corporate environment is all about creating a unique value proposition to the customer. It comprises of providing both dine in and delivery of food and variety of menu which has continental and localised food items. Customer service enhancement through adding more technologies to speedup the order processing and delivery of food, booking tabel through online and value added service to the customer based on prior booking etc.
SWOT: Strenght would be definelety the core value proposition of wide business segment offering dine in , delivery, part and function arrangements. Weakness is there is no proper focus segment and it may be difficult to manage the customer from various segments, so proper target segmentation should be there. Opporunities are obvioulsy more engagegemtn towards resturant from public because of working young crowd and more team out and party culture of North America.
Implementation strategies based on the budget allocated, forecasting of business growth, market identification, enhacement, opportunities for merger and acquisition to enhance their facility and capturing new market. Forecasting is important to estimate the budget for their annual operation. Customer service enhacement, proper training and development for the employees to be done and included in the budget. Facility management, dine in with experience through attractive ambience etc has to be there.
Implementation of strategies such as
Operational startegy
Market strategy
Human resource strategy
Financial strategy
Customer service strategy
Thus PDCA ( Plan, Do Check Act) should be adopted with six sigma lean methodologies to evaluate all strategies and to align that with the overall budget. Feedback and monitoring system to in place with customer and other vendors to understand their net score or position. It will help them to understand the gap and work based on that,Employee engagement, job rotation, job enrichment, appriasal and rewards program to be in place. Customer vakue addition, atractive campaigns and promotions, proper feedback 360 degree mechanism can actually give good mileage to business.