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Assignment:
Assemble all of the pieces (previous week’s assignments) into a single document that is the strategic plan for your new or fictitious business.
Write a 1-page Executive Summary page.
In your paper address the following:
The Executive Summary should provide an overview of the entire strategic plan. You may also include a table of contents but a TOC is not required for this assignment.
Be sure your paper has all of the previous strategic plan assignments included.
Business description
I selected the business ‘Steaming Cup’ coffee house as the imagined company. The coffee shop is a sole proprietorship located in Austin. The coffee shop was opened in 2021 after the pandemic had shaken many businesses and developed novel approaches to increase profitability. The unique feature of the coffee shop is that it also offers delivery services for ordered items. The company was able to differentiate itself by investing in the online platform to encourage more people to order from its website or through a call instead of physically visiting the store.
Product and service
The firm is in the specialty eatery industry, serving customers coffee, tea, and other beverages. Some other products that are sold include bagels, donuts, cakes, brownies, and cookies. Primarily the business started with sit-in customers but later diversified with takeaway customers, especially those who order online.
Objectives and goals
Steaming cup’s mission is to make the world a happier place. It aims at achieving this goal by developing a culture that promotes personal growth and quality customer service. The vision statement is to make steaming cup the provider of the finest standards both in products and services and to maintain uncompromising principles. The company is driven by values, including ensuring an inclusive culture that promotes equity and diversity. Another value is inspiring people to act with courage and become the best.
Strategic Plan
I believe differentiation is the best strategy to gain a competitive edge. The coffee shop can become more competitive by offering customers attractive products and services that are different from the competition. The goal is to stand out from the rest while maximizing customer value. The company can differentiate by offering free delivery services for online orders made by customers. Another way to stand out is by making the company tech-savvy by using drones to deliver the ordered products. In the market, not many companies are utilizing the technology, which might make most customers enjoy the experience.
Successful differentiation strategies require organizations to conduct innovation, research, and development to ensure that their idea is practical and viable for the customers. The organization should also deliver quality services or products, and the differentiation aspect should not compromise the quality. Subsequently, the firm should consider making effective marketing and awareness creation to the market so that people understand the advantages of differentiation.
Previous Weeks assignments
Week 1:
Week 2:
Week 3: Build your company’s ePolicies.
Week 4: Disaster Recovery part of your strategic plan.
Week 5: Data section of your strategic plan
Week 6: Network and hardware portion of strategic plan.
Week 7: customer satisfaction portion of your strategic plan
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