Strategic planning refers to the process of defining an organization’s direction on how to run the business towards achieving a set goal. These include, but are not limited to, objectifying allocation of resources towards achieving this strategy, set priorities, strengthening daily operations, establishing common goals to be attained by the employees and other stakeholders among other crucial aspects an organization is willing to accomplish. It is usually systematic and sequential, additionally, shapes and guides the vision of the organization (Data, 2010). This essay aims to elucidate a case of strategic planning by the Jo-Ann Stores, Inc.
Jo-Ann stores, the epitome of the fabrics and crafts industry, were established in 1943. It started out as a single retail store¸ but is now the leading fabric and crafts retailer in North America. The fabrics and crafts industry is very lucrative but also highly susceptible to change. Some of the major reasons include, new technologies, shifts in trend amongst others. As technology progresses, new methods of production and advanced machinery are being integrated and this has been instrumental in how the fabrics and crafts industry is done.
In a stand to remain competitive under new management the Jo-Ann stores has adopted different strategies to keep a foothold on the fabrics and crafts industry. Additionally, induced by the latest recession, consumer trends and behavior have changed drastically helping the company stay relevant to date. Since families have more time to bond and socialize together, making of their own gifts and attires has continued even in recent times.
The company has subsequently opened new stores in locations they previously did not exist. This will help in acquiring new and emerging markets thereby expanding their position as the leaders in the fabrics industry. Essentially, by increasing the number of stores mainly in Washington and Michigan, consequently, the total number of stores cumulatively will grow to more than 850 stores nationwide.
Already, plans are still underway to open 65 new stores elsewhere. Additionally, these will extend their customer base translating to more business being transacted. Considering that it is in existence in 49 out of the 55 states there are still new markets which are untapped. Therefore, this is in vision with the company’s values embedded in the American family system by making the company available to every citizen. This will help bolster their reputation as the single major leading company in the fabrics and crafts industry.
This new stores will be all inclusive with values based on customer satisfaction and quality services. The staff in the existing stores together with the new employees will be trained towards achieving these goals with the hope of gaining good client customer relations. In this spirit, free delivery will be offered to customers who live around the stores. Consequently, there is also a huge gap in fulfilling the demand for products since not all consumers have access to stores. In this regard, other services like television shopping formats and online stores will be used to remedy these deficits. Currently, the Jo-Ann stores management has already implemented some of these strategies to reach more consumers.
Furthermore, the guiding principles of this stores is to give quality and excellent service to all without discrimination, putting the needs of the customer first, embracing the morals and beliefs of the surrounding communities and last but not least, prioritizing customer satisfaction. There is also a social responsibility to give assistance to the community (Vernon, 2012). These include, serving the poor and homeless by giving financial contributions, create an environment that allows people to mingle and socialize without fear of racial segregation even within the stores, have a responsibility towards the neighbors well-being and also respecting an individual’s rights according to the human rights laws.
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The company in partnership with Craft Retail Group (CRG), an affiliate of the Ideal Shopping Direct with roots in the UK, joined to initiate a television shopping setup in America. This television shopping system, CRG’s Create TV shopping, will assist in reaching out consumers who do not have access to the stores. In so doing, this service will make it easier for customers to assess the company’s products on their own convenience. Therefore, customers are able to buy goods even in the comforts of their homes.
With globalization and the need to find a platform which creates product awareness throughout the world, the company has tapped into the E-commerce channel. Moreover, the internet has unlocked potential markets oversees in Europe, Asia, Africa or even South America. In addition, with competition from other markets like Asia, online stores have become even more necessary to fulfill the customers demand for products. In line with this vision, the company embraced the E-commerce channel and opened a Jo-Ann online store.
The online store showcases a catalogue of the company’s products and services, customer idea forums and not least the store locations (Gunst, 2006). From the site customers can order goods or even view new products that have been added online. Moreover, the site is constantly updating new products, upgrading the website to make it more users friendly and fulfilling objective market campaigns. The site also provides a forum for bloggers and customers can even create a gallery with their own ideas.
In addition, each customer is unique and has different requirements (Gunst, 2006). For example, some of the customers might be physically disabled or even have body mutations, they need special attention to cater for them. Therefore, since the mission and vision of the company is to provide services to all without discrimination, products and services have to be conformed to their specifications. Hereby, with the online services customers have a platform to create their own ideas and then the company will make products according to the designs.
Furthermore in line with this mission, the company has partnered with celebrities in endorsements to popularize their products. Since celebrities have a huge following by joining forces the company will be able to advertise their products to a wider scope. In addition, considering the social media upsurge and the marketing power in contain the company is in the right path to strategically placing itself as a global powerhouse in the fabrics and crafts mega industry.
Some of the celebrities the company is working with are Tori Spelling. In addition, Styled a fashion jewelry line by Tori Spelling, signed the first licensed jewelry line to be housed by the Jo-Ann Stores. In the past, it has launched other partnerships like Christie Brinkley Home collection of eco-friendly fabrics.
In conclusion, a strategy plan is essential for an organization to achieve its set goals. This is in line attain a certain vision through a clear strategic plan. In our case as discussed, the mission of Jo-Ann Stores is clearly outlined in a strategic plan which must be adhered to by the employees and even the shareholders of the company. Thereby, through opening of new stores in new regions and expanding their foothold in the already existing ones, the company is set to place itself even further as the country’s leader in fabrics and craft industry. Furthermore, by incorporating new innovations like online stores and television setups the vision is looks achievable. But also, in expansion the company holds dear its core values like, respect, social responsibility, integrity, honesty, family morals and values and consistent service delivery. There is also consideration for those physical impairments.
References
Data, B.P. (2010). Manufacturer’s data sheets on each product to be used, including: 1. “Preparation instructions and recommendations, 2, 12494-2
Vernon, R. (2012). International investment and international trade in the product cycle. The quarterly journal of economics, 200-208
Gunst, R. F. (2006). Response surface methodology: process and product optimization using designed experiments.
