Final Strategic Plan Essay

E preciseone needs to have a red-hot repast that pull up stakes not cost them a circle of money. in that location ar m both eaterys that try to sell you their function. Gregs Family Restaurant is a eating house which go tabu put up a wholesome nourishing meal and great guest service for exclusively our patrons.Mission StatementThe foreign commission of Gregs eating house is to provide wholesome meals at unbelievable prices the tilt backnot compargon. Our eatery is to provide guests the service apiece and every one of them want and deserve. We depart provide this event of service with the technology that is available to us as a vocation. With this technology we provide our guests with great service and dainty meals at an unbelievable price. We will become the best restaurant in the area that provides our customers with Mexi shadower, Afro-American cuisine. The employees of Gregs restaurant will be same family.Organization VisionVision is the strategical come outing of a alliance to achieving its goals. A survey statement presents the firms strategic confined that focuses the energies and resources of the federation on achieving a desirable future (Pearce & Robinson, 2009, p37). The aim for Gregs restaurant is to in the next 2-4 long time to be above and beyond the competition and to expand the contrast to other areas within the city. The future planning of the restaurant is to come up with menu items that will continue to avail the bank line to prosper. Guiding principles Culture, social responsibility, and ethics Gregs restaurant is pursuance many set and cultures according to the needs of customers. The menu items of the restaurant epitomise different cultures that can attr correspond customers of different nationalities and societies. Gregs restaurant is multi- heathen and offers a wide variety of menu items that everyone can enjoy. Gregs restaurant gives priority to the values of honesty and integrity in full nurtu re of their valued patrons.The restaurant also offers specials throughout the week and also issues coupons to scotch half off on certain menu items. The agate line is employ products that are environmentally friendly and to help protect the environment and health of the community. The vision, mission, and values statement of the restaurant will provide the framework, structure and the companys goal. The vision is the end goal the restaurant wants to progress to whereas the mission and the values will provide the line with the everyday activities the stock already performs and also the structure and framework for the strategic plan for the business.The business will address customer needs by providing good service and meals to each and every patron that enters the establishment. All customers will get the same bracing meal the first customer to the last customer. The staff will act in a professional manner and provide great customer service and our suppliers along with the re staurant will serve the freshest ingredients available.Organization strategical DirectionWithout strategic direction the business will not be able to accomplish its mission or vision. So it is very substantial that a company has a strategic direction for the implementation of its mission and vision. strategical direction is defined as strategies made by a business or company to fulfill its mission. Strategic direction helps the possessor and employees to know what is needed or required to achieve the mission of the company.client needs and competitive advantageAt Gregs restaurant it is in-chief(postnominal) for the business to provide a relaxed contented atmosphere to the customers so they can like at home. At Gregs restaurant there has been mechanisms added to provide the customers with the undeniable seating and waiting areas to help them feel more than comfortable at the restaurant. It is also a positive direction the company has interpreted is there is no priority of any culture or theology to eat at the restaurant. Honesty is a mark element that we attempt when dealing with patrons. Strategy planning helps the company review the mission and vision and to correct sure that the company is headed in the right direction on achieving the goals. The future planning and vision of the restaurant has an impact on the restaurant dodging and it could impact the way the business will do over the next few years. The business has to utilize its vision and mission statements to make radical decisions or to mend on the decisions it makes about the future of the business and what is going to benefit the business.SWOTT AnalysisIn the restaurant business and by being new to the industry which is very competitive a SWOTT compend plays a key role and is needed for a business to succeed. Gregs Family Restaurant ranks itself a deviate from other restaurants by servicing their customers with excellent customer service and meals. When analyzing a business one has to look at the interior and external factors that affect the company. A SWOTT analysis provides a breakd own of all these factors even factors that could affect a business inwroughtly and externally. SWOTT analysis is a tool a company uses in forming a strategic plan. It is the just about effective tool a company uses to determine and uses for a strategic plan. SWOTT stands for Strengths, Weaknesses, Opportunities, Threats, and Trends a company must(prenominal) face.Business can use SWOTT as a tool to create and overview of the organization strategic situation. (Pearce & Robinson, 2009). For a new establishment like Gregs Restaurant a SWOTT analysis is necessary to establish and compare where it is in a competitive market. When operational any type of business preparation is a key element looking at into as many potential options as possible is a must to prevent the company from emolument loss along with the deal outholders exactly in this case it is Gregs stakeholders at risk.By eliminating all possible threats and creating opportunities with exceptional financial resources and concentrating on the long- term goal is the key to the success of the business and the future. SWOTT provides basic framework for business existing or new. More opportunities can be created by eliminating various weaknesses. External forces which are opportunities, threats, and trends are sets of mutinous factors the restaurant face and must overcome to succeed in the restaurant business. After conducting a SWOTT analysis legal and regulatory, economical, technology, Global and social trends were prime external forces that need to be addressed.Legal and RegulatoryBecause of the external forces of disruption a new restaurant or possible refitting and exiting building you will have to deal with the zoning laws. Restaurants need licenses and permits to operate or a food service establishment permit, alcohol license and food rubber eraser permit. Food safety health codes vary from state to state but restaurant businesses have to abide by the rules and laws that are put forth. The rules and regulations are to help protect the consumers and business.EconomicInformation regarding to products, services, tools, technology, and suppliers will compromise the economic environment of the restaurant. In 2001 atomic number 20 restaurants are projected to register 63.8 one million million million in sales, every $1 spent generates additional $1.19 in sales for the state economy. In 2010 there were 62, 794 eating and crapulenceing places in atomic number 20 every extra $1 million spent in Californias restaurants generates an additional 23.8 jobs in the state. In 2012 California restaurants employ 1,445,000 commonwealth (www.restaurant.org). Macroeconomics is very sluggish at this point in time. Inflation is at a high and banks are increasing interest rates. People are not spending as they did in the past they are more frugal with their finances. With the housing market in a slump, unemployment on the set up and with energy prices on the rise it is giving the restaurant industry a hard time. Changing labor conditions and cost is affecting smaller family type restaurants to eventually lose their business.GlobalizationGlobalization shows chance for Gregs restaurant to expand outside the United States. Forming a Limited Liability fraternity (LLC) it protects your personal assets from any liability the business incurs. If the owner plans on reach up a restaurant in different locations have make out LLC for the location.SocialSocially people love to meet, dine, and have a drink and fun. But given the economic conditions of today it is hard for people to dine like they once did in the past. People are also business sector about eating healthy and given the increase of a lot of food recalls in the past. Social media is also playing a full-size role in the marketing aspect of the restaurant industry. engineering science engine room in the restaurant industry is very vital to the everyday operation. on that point is software available to track inventory, supplier orders, and to manage food orders. Technology is being make growed every day to improve the way restaurants do business. Managers are no in more visualize of their staff with distant monitoring systems. Internal forces are more conditionlable factors a business can use to improve the operation and its path to success. After conducting an internal evaluation these were the factors the business came up with that is logical strategy, strategic capabilities, and structures.StrategyIn order for the restaurant to grow and expand a strategy has to be designed to which the business should offer products and services which customers could not receive from anywhere else. As far as strategizing the restaurant has the use of resource control which is key i.e. (operations, finance, supplies, and hands).Strategic CapabilitiesStrategic capabilities play a big pa rt in the restaurant industry. A business can create its own uniqueness through its marketing and strategic capabilities. A well- organized supply chain, a well trained staff, and a competent management police squad are strategic capabilities that will help the restaurant to fulfill its vision. The business also needs to consider its ability to manage working capital, expecting manpower issues and customer expectations and the ability to think ahead of the competition. As the industry changes over a period of time the threats and opportunities the restaurant will face the strategies and impersonate of the business will have to adapt to these changes to meet the needs of the customers. It is very critical management focuses and maintain a product mix that deeds well for the business. The restaurant should position itself to reach specific demographic groups.Issues and OpportunitiesAs mentioned in internal forces issues that are apparent is the lack of interactions between the empl oyees. With these issues it allows opportunity to create meetings between employees and management. These meetings will allow staff to feel they get and part of the family. It also allows employees to express what is working and not working for the business and what need improvement since the staff are the ones interacting with the customers.Balance ScorecardTo develop a Gregs Family Restaurant a balance scorecard is essential. It is key component for defining the goals and targets of a business as well as the mission vision and SWOTT analysis. A balanced scorecard is, A set of four measures directly linked to a companys strategy financial performance, customer knowledge, internal business processes, and learning and growth (Pearce & Robinson, 2009, p. 202).fiscal positioning/ Shareholder rankA well thought out vision and mission statement will facilitate the restaurant to achieve its target. The restaurants objectives are to increase the performance of the restaurant. The respon sibility of the restaurant is to seek its customer gladness. Increase revenue, and also achieve financial stability.Customer Value prospectCustomers determine the success of the business. The ups and downs of the restaurants as well as the delivery of the services the business provides relates to the customers satisfaction. The more the customers are satisfied the better the business will do to attract more customers.Process/Internal Operations steadStrategic planning is very effective to give a nutritious meal to customers. This should be done in accordance with the customer needs. The virtually important thing is to determine the purpose and intentions of the strategy, because this will help the business towards its goals. The restaurant should set its goals and the path while keeping in minds the values and interest of the patrons. Customer comment cards should be available so customers can express their comments and concern. Gregs family restaurant is always taking initiativ es to improve service and products to increase their customer base. skill and Growth PerspectiveLearning and growth process is the prospective to know about your business and if it is underdeveloped into the type of business you dreamt of. Learning in accordance to Gregs family restaurant means to learn about the attitudes of the employees which are internal and customers which are external. Strategic planning within the growth and learning perspective should focus on employee teaching to have competent employees.Balance ScorecardShareholder Value/Financial PerspectiveStrategic Objectives* Market share should increase* unclutter revenues should increase* Financial stability should be achieved* Production cost should be minimizedPerformance Measure* Revenue growth* Increased operating cost* Return on interest and capitalTargets* 3-6 % market share increase over the next 3 years* 20% profit marginCustomer PerspectiveStrategic Objectives* Focus on world interest* Quality food shoul d be delivered* Community support* improving brand name in marketPerformance Measures* New plug-in Items should be offered* Awareness of brand in publicTargets* 100% customer satisfaction* 15% increase in customers for the next 3 yearsInitiatives* Restaurant should expand to other cities* Benefits & rewards programLearning & Growth PerspectiveStrategic Objectives* Employees retention increased* Technology should be improved* Employee satisfactionPerformance Measures* Customer satisfaction should improve* Employee turnover rate reduced* Surveys, monitoring and trainingTargets* 100% participation of all employeesInitiatives* Staff training* Improved customer service* Analysis of StaffingReferencesPearce, J. A. II, & Robinson, R. B. (2009). Strategic management Formulation, implementation, and control (11th ed.). New York, NY McGraw-Hill www.restaurant.orghttp//www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx