Strategic Plan, Part 1
August 29, 2011
Successfully introducing new products or services into the market is vital to the long-term growth of a company (Kotler and Keller, 2009). All Eyez on Me is a men clothing store that sells clothing for the hip hop nation. As a new business it is important to know what the business is all about and what it hopes to achieve in the next five years for it to become successful. The store offers a variety of name brand clothing such as Maurice Malone, Rocka Wear, Bushi, Karl Kani, Phat Farm, Pelle-Pelle, etc. The products are casual name brand clothing that men love and enjoy wearing. All Eyez on Me “will explain the importance of the business vision, mission, and values in determining its strategic direction and:
➢ Define the business, products or services, and customers by developing a mission statement. Ensure that the businesses are differentiating its product and service.
➢ Create a vision for the organization that clearly demonstrates its decision on what the business want to become in the future
➢ Define the guiding principles of values for the business considering the topics of culture, social responsibility, and ethics
➢ Analyze how the vision, mission, and values guide the organization’s strategic direction
➢ Evaluate how the organization addresses customer needs and critique how it achieves competitive advantage” (UOP, 2011). Mission Statement
A mission statement is a message designed to be inclusive of the expectations of all stakeholders for the company’s performance over the long run (Pearce-Robinson). The mission of All Eyez on Me is to provide quality name brands clothing for the hip hop nation that makes men feels that all eyes are on them. All Eyez on Me marketing strategy is to make men look exquisite and handsome. The business will supply an assortment of name brand clothing such as Maurice Malone, Rocka Wear, Bushi, Karl Kani, Phat Farm, Pelle-Pelle where customers can choose from different styles and sizes to accommodate men different physique and create the vision of All Eyez on Me.
“A vision statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future” (Pearce-Robinson). All Eyez on Me vision statement is to provide name brand products in price, service above self, and integrity. To understand where the business wants to go and what it wants to achieve it is imperative to pay attention to the business vision and mission statement and to make it a priority. All Eyez on Me wants every customer who patronizes the store to feel special that other will have to take a second look at what he is wearing as the store name implies. Women tend to have a better vision than men in what she wants to wear and how she would like to look in a particular piece of clothing. At All Eyez on Me, men in particular will be offer exceptional service to help find the right pieces of clothing that will give the business the purchasing power to improve sale because they value its customers.
Values, Culture, Social Responsibility, and Ethics
Values are standards that All Eyez on Me will achieve. The values are to direct the operations and its conduct or relationship with society, customers, employees, the public, and the company stakeholders. The corporate values that express All Eyez on Me development includes the following key strategies: delivery of quality customer services, affordable price, and economic growth. All Eyez on Me corporate social responsibility is to operate its business in an honorable manner, providing good working conditions for its employees, make sure the environment is protected at all-times, and give back to the local communities and society. All Eyez on Me managers develop a strategy that ensures that all parties be ethical in all respects and that...
References: Pearce J.A. II & Robinson, R.B. (2009). Strategic management: Formulation, implementation,
and control (11th ed.). New York, NY: McGraw-Hill
Kotler, P. & Keller, K.L (2009). Marketing Management. (13th ed.) Upper Saddle River NJ
University of Phoenix. (2011). Strategic Plan Part I: Conceptualizing a Business Week 2 Assignment.
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