Mgt 521 Strategic Plan
Strategic Planning In the economy today every business has a need for a strategic plan. Strategic plans are most vital for small businesses to have a strategic plan because they comprise the majority of local businesses and are more likely not to survive. No matter if the business is small or large it is important to keep this plan updated and evaluated to the businesses current standings. Typically a plan should focus on the following two to three years when it is being created.
Kudler Fine Foods One current problem that Kudler Fine Foods has is that the strategic plan is not current, it does not fit the company’s current make up, and the owner is too involved in each store location to concentrate on the company’s long term survival. Kudler’s owner needs to reevaluate the company’s strategic plan, from 2003, and have the managers to buy-in to the plan. The new plan not only should include the managers but also all vital employees as well. With all key employees contributing to the plan it will be easier to implement and evaluate its effectiveness (Frey, 2011). Though Kudler Fine Foods does have a strategic plan, it can be deducted that the plan is not effective for the current make up of the company. This could be the case for Kudler Fine Foods because the owner may consider strategic planning to be a waste of time. These perceptions though are not really accurate. Strategic planning has already helped Kudler Fine Foods grow, now they need to use it stabilize and increase production. Strategic planning does not have to be difficult or laborious. It does require an investment of time, especially of the owner or chief executive officer. Because the owner of Kudler Fine Foods has completed a strategic plan once a revision will not be as difficult. With the owner of Kudler Fine Foods being so involved in all three locations the burden of completing a new plan is going to require some change so that the owner can have the time to complete it. Many of the
Kudler Fine Foods One current problem that Kudler Fine Foods has is that the strategic plan is not current, it does not fit the company’s current make up, and the owner is too involved in each store location to concentrate on the company’s long term survival. Kudler’s owner needs to reevaluate the company’s strategic plan, from 2003, and have the managers to buy-in to the plan. The new plan not only should include the managers but also all vital employees as well. With all key employees contributing to the plan it will be easier to implement and evaluate its effectiveness (Frey, 2011). Though Kudler Fine Foods does have a strategic plan, it can be deducted that the plan is not effective for the current make up of the company. This could be the case for Kudler Fine Foods because the owner may consider strategic planning to be a waste of time. These perceptions though are not really accurate. Strategic planning has already helped Kudler Fine Foods grow, now they need to use it stabilize and increase production. Strategic planning does not have to be difficult or laborious. It does require an investment of time, especially of the owner or chief executive officer. Because the owner of Kudler Fine Foods has completed a strategic plan once a revision will not be as difficult. With the owner of Kudler Fine Foods being so involved in all three locations the burden of completing a new plan is going to require some change so that the owner can have the time to complete it. Many of the
References: Birchfield, R. (2010, April). The Strategic Plan. New Zealand Management, 57(3), 56-58. Frey, E. (2011, January). Straregic Plan: Key pillar for successful family firms. Grand Rapids Business Journal, 29(1), 11-12. MacVicar, D. (1996, October). Why your company needs a strategic plan. Laser Focus World, 32(10), 105. Steel, R. (1991, Winter). From paper to practice: Implementing the corporate strategic plan. Business Quarterly, 56(3), 119.