October 25, 2010
Strategic Plan Update—Final Version
Kudler fine foods is a premium food retailer whose business is primarily based on sales of bakery, meat, seafood, produce, dairy, and wine. It has ambitious plans but the tightening economy threatens its quality proposition and further expansion. A strategic focus on Kudler fine foods is to improve the level of convenience offered to customers. This strategy would enable its customers to buy more of what they want at Kudler fine foods. Facing the fierce global market competition, Kudler fine foods launches the developing innovative choices for consumers. With the concept of customers as “the foundation of growth”, Kudler fine foods helps its customers make healthy choices and increases focus on digital communication. Company background
Kudler Fine Foods was established in 1998 when Kathy Kudler fulfilled her vision of establishing her own gourmet food store. Since the beginning, In order to get the best price possible for products, Kathy buys in bulk for all three stores. Kathy intends to continue providing fine quality foods to the local area, while expanding and opening new stores in the process. Health is at the heart of Kudler fine foods offer. Demand for natural and organic food is rising fast. In keeping with this trend, Kudler fine foods needs to set standards in healthier Kudler products. It will enable Kudler Fine Foods to become a caring, responsible company toward consumers. Another distinctive trend is that online sales have grown at a fast pace in the last decade. Increasing focus on digital communication will provide a potential channel for Kudler to distribute its products and may in the long run enable it to test new products. Organizational mission, vision, and value statements
Mission - Kudler Fine Foods’ roadmap starts with its mission, which is enduring. * To be a nationally recognized leader in premium quality gourmet foods. * To help people eat and live better
Vision - Kudler Fine Foods’ vision captures the essence of who they are. It also captures the importance of health and wellness, but it also embodies all the ways people can eat and live better. * People: Be a great place to work where people are inspired to be the best they can be. * Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value. * Profit: Maximize long-term return to shareowners while being mindful of our overall responsibilities. Values - Kudler Fine Foods’ values serve as a compass for our actions. Innovation – Satisfying real-life needs with unique ideas
Quality – Fulfilling a promise to deliver the best
Safety – Ensuring high standards in every products
Respect – Caring for people, communities and the environment Integrity – Doing the right thing
Openness – Listening to the ideas of others and encouraging an open dialogue Environmental Scan
Strategic planning of Kudler Fine Foods begins with Kathy Kudler's vision regarding the future of Kudler Fine Foods. Strategic planning of Kudler Fine Foods must enable the company to exploit environmental opportunities or neutralize environmental threats. According to Barney (2007), to generate economic profits for Kudler Fine Foods, the company must be appropriately reorganized to realize the full competitive potential of its resources and capabilities.
Monitoring environmental trends and patterns is important in strategic planning process in today’s times of uncertainty. The business environment refers to all the forces or factors that affect the activities of the firm. Because the internal and external environments of organization are changing all the time, companies must keep up with changes. When the business environment changes, companies that do not change their way of doing business eventually will not survive for long. The internal environment refers situations that occur inside...