Assignment 1: Crafting and Executing Strategy
Brittany A. Anderson
Dr. Aikyna Finch
January 20, 2013
Develop an argument supporting the importance of a strategic plan for the success of the defined business.
As Alan Lakein once stated, “failing to plan is planning to fail”. Strategic plans are “expressions of ownership dreams and visions of successful results. Strategic planning functions as the ‘design’ just as a blueprint functions as the ‘how’ to build something. The strategic plan displays the finished product or goal. Usually, in smaller businesses, strategic planning is focused on the overall company, ...view middle of the document...
Bee-Youtiful Cosmetics offers a wide range of beauty products ranging from skin care to make-up and nail polish. Bee-YOUtiful Cosmetics is a beauty and cosmetic line with a comprehensive service component that makes our brand diverse, unique, and competitive. Primarily, we have a three-tiered service component including 1.) Skin Care 2.) Cosmetics and 3.) Body Maintenance. From there, each component is further divided into various products depending on the classification. Our ultimate goal is to make every customer feel good because “when a product/service falls below consumers’ expectations, they display negative emotions; if, on the other hand, the offering is perceived to meet or exceed expectations, customers respond with positive emotions. (Oliver, 1993b; Oliver & Westbrook, 1993).
Create a mission statement for the company explaining how the mission will be essential to the company’s success.
Every company has a mission statement. A mission statement explains “why the organization was first created—to meet a need identified” (Radtke, 1998) Bee-YOUtiful’s mission statement is to provide quality and affordable make-up to enhance beauty, empower women, and enable change. Each segment of the mission is vital to its success. 1.) To enhance beauty. Women choose to wear make-up to enhance their beauty. Each woman has a different reason and purpose for wanting to enhance their beauty, but the end result is that our cosmetic line offers each woman the opportunity to do so. 2.) To empower women. According to statistics, “90% of all women want to change at least one aspect of their physical appearance” (Just For Women, 2012). With such an increase in women who are not satisfied with their outward appearance, we want to offer them the chance to at least embrace the beauty of their face and empower them after using our products that they are beautiful, both inside and out. 3.) To enable change. We want to change the way that women think
Create a vision statement for the company explaining how the vision statement supports the company’s mission.
Bee-YOUtiful Cosmetics like each company has a vision statement. Our “vision [statement would] remain intact, even if the market changes dramatically, because it speaks to what [we] represent, not just what [we] do” (---, 2012). In essence our vision statement is simple: we want each year to be more successful than the last and we want to affect and influence more women than the previous year. We plan to do so by interacting with the customer on a daily basis to see what is popular and what could be discontinued. Each product has an assigned number which opens a satisfaction survey. Once opened, the customer will rate the purchased product and then if possible, upload a photo and a testimonial. Upon completion, the customer receives $10.00 off her next purchase. Our vision statement directly supports our mission statement because in offering our product, we are...