Verified Document

Strategic Plan- Sweet Reads Since Its Inception, Business Plan

Strategic Plan- Sweet Reads Since its inception, Sweet Reads has supported a vision of providing excellence in service from exceptional employees. Sweet Read is committed to:

Responding to consumers' needs efficiently and exceeding their expectations,

Providing competitive pricing, and III. Providing the highest level of on-the-job training to the staff

This will earn Sweet Read a reputation of consumer satisfaction and loyalty. Since its formation, the company has worked tirelessly to differentiate itself and adapt to the fast-paced market dynamics. Its adaptation of the balanced scorecard has made it what it is now. Through concentrating on key areas of the scorecard, Sweet Reads will continue to build and improve its vision, employee satisfaction, customer satisfaction, internal business operations and its financial position.

With its operations in the fast foods and books industry, Sweet Reads has a challenge of differentiating itself from other contenders. This is its biggest barrier in its business strategy. Competitors like Taco Bell and KFC offer a challenge for Sweet Reads and makes it hard for profit potential. Although these competitors do not necessarily offer the same products, they are a source of competition in the area of cost reduction. Health consciousness has become a key aspect regarding competition. Customers are now settling on healthier choices like salads and sandwiches. Sweet Reads has attempted to rise above by introducing healthier items on its menu and eliminating items such as Hamburgers, which promoted an unhealthy lifestyle (Tonchia & Quagini, 2010). In an effort to increase innovation and differentiation, Sweet Reads has introduced premium coffee beverages at reasonable prices. This new division provides existing and new customers different...

The company's suppliers include Simplot and Golden State Foods. All Golden State Foods' outlets use the same raw materials from the same suppliers. Customers can enjoy the same brands whether they are in China, Beijing or Rochester. This is the foundation, which the company has encouraged consistency among its restaurants and bookstores. The company depends on its suppliers in providing the highest quality products to clients. Manufacturing and shipping these products across the world is the whole business of these suppliers. If Sweet Reads wants to lose its suppliers, it would have to change its product lines and altogether its menu (Blokdijk, 2008). This has given its suppliers a vast amount of bargaining power. Sweet Reads can use the five-industry analysis device to evaluate its strategy. Through eliminating the chances of losing business to its rivals, being aware of potential entrants, equivalent products and losing suppliers, Sweet Reads will continue to differentiate itself while maintaining relationships with customers, employees and suppliers.
Sweet Reads trains its employees to enhance customer services. The aim of the training is to offer consistency in quality and service in all its outlets across the world. By focusing efforts on managers to insist on consistency, integrity and Sweet Reads' vision, the company will earn a competitive advantage in the industry. Additionally, the company sponsors advanced management training to ensure the success of managers. Follow-ups are conducted on employees with the aim assessing the effectiveness of the training programs. The company also uses mystery shoppers in its…

Sources used in this document:
References

Blokdijk, G. (2008). Balanced scorecard 100 success secrets. S.l.: Gerard Blokdijk.

Biazzo, S., & Garengo, P. (2011). Performance measurement with the balanced scorecard: A practical approach to implementation within SMEs. Heidelberg: Springer.

Eichler, R. (2010). The Interdependency of Brand Value within the Balanced Scorecard: Why do not all Enterprises try to shape their Brands? Mu-nchen: GRIN Verlag GmbH.

Tonchia, S., & Quagini, L. (2010). Performance measurement: Linking balanced scorecard to business intelligence. Berlin: Springer-Verlag.
Cite this Document:
Copy Bibliography Citation

Related Documents

Strategic Plan, Part III: Balanced
Words: 1019 Length: 3 Document Type: Term Paper

In order to measure the success of customer perspective aspects like returned orders, number of new customers, number of complaints, market share, customer satisfaction index among others will be assessed. Process or Internal Operations Perspective Currently, Tiffany Event Management Company is performing well but needs to improve in the future with the changing world. The internal operation ought to increase by 9% by the end of the predetermined time in order

Strategic Plans for Different Age Groups Mission
Words: 977 Length: 3 Document Type: Essay

Strategic Plans for Different Age Groups Mission statement for the company Our mission will be to create innovation and inspiration to each athlete on the planet. Looking at this mission statement, we seek to be an organization that surpasses all others in the athletic business. We will uphold our position by furnishing quality footwear, equipment and apparel to foundations and distinctive customers of all ages and lifestyles (Thompson, 2013). We promise to

Strategic Plan in an Organization: This Discussion
Words: 2437 Length: 6 Document Type: Essay

Strategic Plan in an Organization: This discussion entails an implementation for the Office of Payroll Administration's Strategic Plan for the three years, starting 2010 to 2012. The report covers issues of payment and compensations for employees and other programs in addition to processes of tax holding within the organization. With respect to these roles, the discussion aims to provide a clear picture of the implementation process of these strategies together with

Strategic Plan Parts IV and V.
Words: 2002 Length: 7 Document Type: Term Paper

Strategic Plan With any shift in strategy, there are barriers that need to be overcome. There are a number of potential sources of change resistance and business literature has studied these for a long time. These can be poor communication of the strategy, self-interest, feelings of exclusion, lack of trust in leadership, and a lack of skills or training to implement the changes (Brookins, 2013). Within the organization, it is the

Strategic Plan for Non-Profit: Human Rights Campaign
Words: 1567 Length: 6 Document Type: Essay

Strategic Plan for Non-Profit: Human Rights Campaign (hrc) The Organization The Human Rights Campaign (HRC) describes itself as the civil rights movement that is largest of all and that is striving to realize equality for individuals who are gay, lesbian, bisexual and transgender Americans. The Human Rights Campaign was founded in 1980 and is reported to act as advocate for LGBT Americans through mobilization of actions in local communities and through strategic

Strategic Plan Part II: Environmental Analysis and Setting Strategic...
Words: 1153 Length: 4 Document Type: Term Paper

Strategic Plan Part II - Environmental Analysis and Setting Strategic Goals The objective of this study is to complete an environmental scan for the Bon Secours Health System. This study will assess the organizational internal strengths and weaknesses and analyze the industry for opportunities and threats. This study will additionally perform a gap analysis including strengths, weaknesses, opportunities, and threats and describe the organization's present and prospective customers. The following external

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now