Strategic Plan, Part I: Conceptualizing a Business
Bell-Mart mission and a mission statement must is clear and succinct enough to signify its purpose and existence to its employees and customers. Bell-Mart evaluates how it will address its customer’s needs and how to differentiate its products and services to enhance its competitive advantage. A vision and a vision statement convey the type of company Bell-Mart strives to become in the future. With guiding principles or values Bell-Mart puts into consideration of the company’s culture, social responsibility, and ethics. Finally by analyzing Bell-Mart mission, vision, and values brings into perspective the company’s strategic direction. Bell-Mart Mission Statement:
“Our mission is to incorporate and improve the lives of our customers by providing quality clothes, technology, food, services, and solutions at an affordable price; while earning the trust and building a lifetime relationship with our customers.” Bell-Mart is a business that will provide a wide variety of products and services to lower and middle class consumers that are struggling because of today’s economy condition. Bell-Mart provides products such as produce, clothes, electronics, hardware, and pharmaceutical goods. Along with online shopping, free shipping, and online 24 hour customer service. Josiah Burks stated that “Economists in many areas of the world have lauded the introduction of Wal-Mart has completely overturning the retail environment” (Burks, 2008, p. 1), Wal-Mart has managed to change the face of the retail business. However, Bell-Mart will also rise to the occasion. Bell-Mart will be established as a corporation that creates new jobs. This company will be known as one of the world’s largest public corporation in the world revenue. It will be a large public corporation and well-known on the New York Stock Exchange (NYSE), Tokyo Stock Exchange (TSE), and The European Stock Exchange (ESE). Bell-Mart competitions such as, Wal-Mart, K-Mart, and Target by provide it customers with quality products and services at a much lower price. Many consumers have lost their jobs because of the worldwide recession. According to Demand Media, Inc (2010), “When economic activity slows, businesses begin to suffer. When businesses suffer, they cut expenses in an attempt to remain profitable. One method of cutting expenses during a recession is to reduce the workforce. Unfortunately, when businesses lay off employees, consumers' ability to spend money is curtailed” (para. 2, p. 1) Bell-Mart will create more jobs, and help to decrease unemployment in some small way. Wal-Mart, K-Mart, and Target are the current players in the retail market that does not currently provide customer membership. With a Bell-Mart personalized customer membership card it will make it easy to identify customers, give customers discounts, and send out monthly coupons. A Bell-Mart customer membership card will have the customer’s photo, along with a bar code, and a magnetic strip that allows convenient access control to various partner facilities and help enable other capabilities. At Bell-Mart the customers’ needs come first. Focusing on a differentiation strategy will help Bell-Mart customer services achieve a competitive advantage over its competitors. According to Expertscolumn.com (2011), “With a Focused differentiation strategy could be helpful to us in being different from the competition” (para. 1, p. 1) Meeting customer needs is an opportunity to provide Bell-Mart customers with products that will be different form its competition. Bell-Mart is ready and equipped to adapt its strategy to ensure that its customers notice the valid differences between Bell-Mart products and its competitors. An implementation of newer, more efficient technologies and with strong communication channels can help achieve the company’s...