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...
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