Final Strategic Plan and Presentation
Final Strategic Plan and Presentation
Part I –Business Concept
The Business is in the fast food industry and is a fast food restaurant dubbed “Daily Health” it is majorly in business to provide customers with quality food products that are not only healthy, but also are very affordable. Daily Health also has a long commitment to quality service delivery to customers ensuring that clients are satisfied with the quality and value of the services provided in its stores.
Daily Health’s mission is “to be preeminent global fast food restaurant which would be the first choice for every customer. This mission statement is the premise on which the company employs strategies to expand and extend its coverage into various market segments in the fast food business. To achieve this, the business has tailored food products that meet specific needs of different market segments which require a different touch in their diet. What is important, however, is the commitment of the firm in providing healthy food products to its clientele, therefore the mission of the company is also the direction for its activities.
The vision of Daily Health is “to establish “Daily Health” as the market leader in the fast food restaurants industry globally by providing healthier quality at an affordable price with an efficient service.” This ensures that employees and stakeholders foreseeing the growth of the enterprise steer it towards becoming the no 1 fast food restaurant. This the firm aims to achieve by putting customer’s needs before all else, ensuring that employees are satisfied at their jobs and conducting the business ethically in regard to abiding with the law as well as moral standards.
Part II –SWOTT Analysis
The Strengths that are internal to the business include its goals in regard to customer satisfaction. This ensures that the business delivers quality services to clientele leading to generation and sustainability of a growing customer base. Similarly, the culture of the company that ensures employees out interests of the customers first also serve as its internal strength. Similarly, the leadership of the organization and the leadership of individual stores are headed by personnel committed to ensuring quality service delivery to customers.
Other strengths in the eternal environment include freedom to vend from vehicles, healthy fast food products a specialty of Daily Health fast foods is fetching high prices in the market. Likewise, the development of healthy options for niche markets serves as an advantage to the company in the form of developing and maintaining a customer base in a highly competitive market.
The business’s greatest weakness lies in the flooding of the fast food industry with many alternatives on offer posing stiff competition especially since they provide similar products. The threats, on the other hand, have to do with the rise in the minimum wage which also increases operational costs of the business. This coupled by stiff competition from well-known brands such as Burger King, and McDonald’s makes the future growth of the Daily Health business a bit skeptical.
Nonetheless, there are opportunities to development of the business in a competitive advantage it has particularly in rolling out a fleet of vehicles that can be used to make Daily Health restaurants mobile. This will in effect improve access and convenience to customers that are in line with its vision and mission statements particularly in regard to the commitment it has on quality customer service delivery.
Finally, trends are such that the fast food industry is moving towards healthier solutions meaning that fast food restaurants are recognizing the need among customers to access healthier brands of fast food dishes. Secondly, there is an increasing need to remain competitive in the business given the myriad of fast food businesses in the industry. Most fast food business are adopting product promotional approaches to remain competitive and profitable.
Part III – The Balanced Score Card
An evaluation of the businesses activities and implications on its performance in regard to its profitability and competitiveness shows that quality customer service is the driver of success in the Daily Health fast food enterprise. Further, this success is boosted by the quality of food products that the restaurant provides which are healthy options to other fast foods. What is more, a strong organizational culture that respects its employees and treats them fairly has resulted in the development of teamwork in a dedicated workforce to achieving excellence in quality customer service.
Part IV Monitoring the Strategic Plan
The evaluation of the success of the strategy can be drawn from an analysis and comparison of sales figures in one period against the current period. Other than that sales figures can be compared to competitor’s sales figures. Secondly, the performance of employees can be evaluated in regard to the output per unit in every Daily Health store. In this regard, the stores can be compared in regard to the sales realized from each store. Lastly, the profit margin of the company can be compared against a fixed period to gauge gains made or compared to competitor’s profit margins. These three options provide viable means of measuring the success of the strategy in meeting its goals and objectives (Mikolajczyk & Schmid, 2005, p. 1615).
Part V –Recommendations
With regard to the legislation on minimum wages, the company should not only ensure that the employees are paid above this rate but also strive to ensure that the pay is the most competitive in the industry. This will in effect improve the output of each employee through the development of a motivated workforce. Nonetheless, the management at Daily Health should not ignore other employee motivational approaches available for exploration as increasing salaries is just but a viable option. Secondly, in abiding by ethical standards, the company must strive to make steps in ensuring that healthy products become the basis of their menu in order to address the problems of obesity in society.
References
Mikolajczyk, K., & Schmid, C. (2005). A Performance Evaluation of Local Descriptors. IEEE TRANSACTIONS ON PATTERN ANALYSIS AND MACHINE INTELLIGENCE, 27(10), 1615 - 1630. Retrieved 6 26, 2014, from http://research.microsoft.com/en-us/um/people/manik/projects/trade-off/papers/mikolajczykpami05.pdf
