Crafting and Executing Strategy
Assignment #1 –Crafting and Executing Strategy
Phyllis Parise
BUS 599-Strategic Management
July 14, 2013
Introduction In business there are several key strategies and planning roles that are usually standard guidelines or practices that are used to develop a well organized profitable organization. However unlike other functional responsibilities such as sales, marketing, finance, or manufacturing the strategic planning role does not have a sharply defined identity (Thompson, Strickland & Gamble, 2009). Although, in my opinion, strategic planning is inevitably one of the most important key ingredients needed for the growth and overall success of a company. Likewise, this paper will develop an argument supporting the importance of a strategic plan for the success of the defined business and the author will create a mission statement for the company explaining how the mission will be essential to the company’s success. Then the writer will also create a vision statement for the company explaining how the vision statement supports the company’s mission as well as establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business. In addition, the writer will justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment and lastly the author will conclude the paper.
Importance of a strategic plan for the success of the defined business FruitSy TrendS is a specialty grocery store that provides a service through their product line of fruit only to surrounding fruitarians and fruit purchasers on the east coast in the boros of New York City. FruitSy TrendS is not the average grocery store or a typical fruit stand found in New York City but it is a store that has the largest variety of fruit in a grocery store because it’s only
Phyllis Parise
BUS 599-Strategic Management
July 14, 2013
Introduction In business there are several key strategies and planning roles that are usually standard guidelines or practices that are used to develop a well organized profitable organization. However unlike other functional responsibilities such as sales, marketing, finance, or manufacturing the strategic planning role does not have a sharply defined identity (Thompson, Strickland & Gamble, 2009). Although, in my opinion, strategic planning is inevitably one of the most important key ingredients needed for the growth and overall success of a company. Likewise, this paper will develop an argument supporting the importance of a strategic plan for the success of the defined business and the author will create a mission statement for the company explaining how the mission will be essential to the company’s success. Then the writer will also create a vision statement for the company explaining how the vision statement supports the company’s mission as well as establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business. In addition, the writer will justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment and lastly the author will conclude the paper.
Importance of a strategic plan for the success of the defined business FruitSy TrendS is a specialty grocery store that provides a service through their product line of fruit only to surrounding fruitarians and fruit purchasers on the east coast in the boros of New York City. FruitSy TrendS is not the average grocery store or a typical fruit stand found in New York City but it is a store that has the largest variety of fruit in a grocery store because it’s only
References: Thompson, A. A., Strickland, Dr. A. J. & Gamble, J. E (2009) Taken From: Crafting & Executing Strategy, Custom Edition. Entrepreneur Media, Inc. Retrieved from research. http://www.entrepreneur.com/encyclopedia/term/82498.html July 2011. Envision Online Media Inc. International Fruit and Vegetable Alliance. 16 July 2011-2005 Retrieved from research. http://www.ifava.org Iacobucci, Dawn. Marketing Management. 2010 (Custom Edition). Cengage Learning.