Final Strategic Plan Essay

E genuinelyone wants to have a delicious meal that get out not follow them a sell of money. thither ar some eaterys that try to sell you their avails. Gregs Family eatery is a eating place which extend appropriate a wholesome nutritious meal and great guest service for all our patrons.Mission StatementThe mission of Gregs eating place is to provide wholesome meals at undreamed of prices the rivalry apprizenot comp ar. Our restaurant is to provide guests the service each and every(prenominal) one of them want and deserve. We go away provide this type passelters case of service with the technology that is avail able-bodied to us as a blood line. With this technology we provide our customers with great service and delicious meals at an unbelievable price. We will become the best restaurant in the atomic number 18a that provides our customers with Mexican, African-American cuisine. The employees of Gregs restaurant will be uniform family.Organization great dea lVision is the strategic planning of a comp any(prenominal) to achieving its goals. A view statement presents the firms strategic intent that chargees the energies and resources of the company on achieving a desirable early (Pearce & antiophthalmic factor Robinson, 2009, p37). The aim for Gregs restaurant is to in the adjacent 2-4 years to be above and beyond the competition and to expand the task to other atomic number 18as within the city. The future planning of the restaurant is to come up with menu items that will continue to swear out the furrow sector to prosper. Guiding principles Culture, social responsibility, and ethics Gregs restaurant is following many determine and cultures according to the ask of customers. The menu items of the restaurant represent contrastive cultures that can attract customers of different nationalities and societies. Gregs restaurant is multi- cultural and offers a wide variety of menu items that everyone can enjoy. Gregs restaurant giv es precedence to the value of honesty and integrity in full have got of their cherished patrons.The restaurant excessively offers specials throughout the week and also issues coupons to get fractional off on certain menu items. The art is using 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 achieve whereas the mission and the values will provide the melody with the everyday activities the clientele already performs and also the structure and framework for the strategic plan for the employment.The air will underwrite customer needs by providing good service and meals to each and every patron that enters the establishment. All customers will get the same fresh meal the first customer to the last customer. The staff will act in a professional man ner and provide great customer service and our suppliers along with the restaurant will serve the freshest ingredients on hand(predicate).Organization strategical focussingWithout strategic direction the business will not be able to accomplish its mission or vision. So it is very important that a company has a strategic direction for the implementation of its mission and vision. Strategic direction is defined as strategies made by a business or company to fulfill its mission. Strategic direction helps the experienceer and employees to realise what is needed or required to achieve the mission of the company.Customer needs and competitive advantageAt Gregs restaurant it is important for the business to provide a relaxed comfortable atmosphere to the customers so they can like at home. At Gregs restaurant at that place 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 taken is there is no priority of any culture or religion to eat at the restaurant. Honesty is a appoint element that we strive when traffic with patrons. Strategy planning helps the company review the mission and vision and to give 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 bare-assed decisions or to mend on the decisions it makes about the future of the business and what is deprivation to benefit the business.SWOTT abbreviationIn the restaurant business and by organism modern to the industry which is very competitive a SWOTT analysis plays a key role and is needed for a business to succeed. Gregs Family Restaurant sets itself a partition from other restaurants by s ervicing their customers with excellent customer service and meals. When analyzing a business one has to look at the ingrained and foreign factors that affect the company. A SWOTT analysis provides a breakdown of all these factors purge factors that could affect a business internally and externally. SWOTT analysis is a marionette a company uses in forming a strategic plan. It is the most stiff 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 infallible to establish and compare where it is in a competitive commercialize. When operating any type of business preparation is a key element expression into as many potential options as possible is a must to prevent the com pany from profit loss along with the shareholders still in this case it is Gregs stakeholders at risk.By eliminating all possible threats and creating opportunities with contain 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 rumbustious factors the restaurant face and must overcome to succeed in the restaurant business. After conducting a SWOTT analysis legal and regulatory, sparing, technology, Global and social trends were set up external forces that need to be addressed.Legal and RegulatoryBecause of the external forces of spring 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 establ ishment permit, alcohol license and food preventative 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 thousand million in gross revenue, every $1 spent generates additional $1.19 in sales for the state economy. In 2010 there were 62, 794 eating and alcoholisming 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 plenty (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 spe nding as they did in the past they are more frugal with their finances. With the housing market in a slump, unemployment on the swot 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 luck for Gregs restaurant to expand outside the United States. Forming a Limited Liability troupe (LLC) it protects your personal assets from any liability the business incurs. If the owner plans on picture up a restaurant in different locations have give way LLC for the location.SocialSocially people love to meet, eat, 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 tending about eating healthy and given the summation of a lot of food recalls in the past. Social media is also playing a declamatory role in the marketi ng aspect of the restaurant industry. applied science technology in the restaurant industry is very vital to the everyday operation. There is software available to track inventory, supplier orders, and to manage food orders. engineering is being developed every day to improve the way restaurants do business. Managers are no in more statement of their staff with irrelevant monitoring systems. Internal forces are more controllable 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 dodging, 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 anyplace else. As far as strategizing the restaurant has the use of resource control which is key i.e. (operations, finance, supplies, and men).Stra tegic CapabilitiesStrategic capabilities play a big part in the restaurant industry. A business can create its own uniqueness through its marketing and strategic capabilities. A well- organized tack on chain, a well trained staff, and a competent management group 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 exemplar 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 industrial plant 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 employees. With these issues it allows opportunity to create meetings between employees and management. These meetings will allow staff to feel they go bad 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).Financial billet/ stockholder appraiseA well theme out vision and mission statement will facilitate the restaurant to achieve its target. The restaurants objectiv es are to increase the performance of the restaurant. The responsibility of the restaurant is to desire its customer satisfaction. Increase revenue, and also achieve financial stability.Customer Value PerspectiveCustomers determine the success of the business. The ups and downs of the restaurants as well as the address 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 PerspectiveStrategic planning is very effective to give a nutritious meal to customers. This should be done in accordance with the customer needs. The most 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 c omments and concern. Gregs family restaurant is always taking initiatives to improve service and products to increase their customer base. cultivation and Growth PerspectiveLearning and growth process is the prospective to know about your business and if it is developing 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 training to have competent employees.Balance ScorecardShareholder Value/Financial PerspectiveStrategic Objectives* Market share should increase* Net revenues should increase* Financial stability should be achieved* Production cost should be minimizedPerformance Measure* Revenue growth* change magnitude operating cost* Return on interest and capitalTargets* 3-6 % market share increase over the next 3 years* 20% profit marginCustomer Pers pectiveStrategic Objectives* Focus on public interest* Quality food should be delivered* Community support* Improving brand name in marketPerformance Measures* peeled Menu Items should be offered* Awareness of brand in publicTargets* blow% 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 decreased* Surveys, monitoring and trainingTargets* 100% enfolding 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/Abo uttheBalancedScorecard/tabid/55/Default.aspx