Importance Of Strategic Planning For Food Service Business Marketing Essay

Importance Of Strategic Planning For Food Service Business Marketing Essay Strategic planning is important for the food service business, because it matches market opportunities with business strengths and provides direction to achieve set goals. A strategic plan is a roadmap for food service business; it defines the objectives for each critical area of à ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹business development, including organization, management, marketing, sales, target customers, products, services and finances. This enables an organization to successfully draw a path and progress towards the set objectives. Function Each level of the food service business can benefit from a well-written strategic plan. A strategic plan should be established before the start of the company, used to as a flexible document during the first year in business and eventually be updated annually during the life of the operation. Although nearing the end of company, strategic plan helps the business, which includes information about the ownership transition benefit. Features The most important elements of the food service strategic plan includes a summary, mission statement, company vision, industries customer profiles, descriptions of all products and services, competitors information, organization and management structure, marketing strategy and key financial statements that include balance sheets, profit loss statement and cash flow statement. The strategic plan is easy to read and understand the companys operations. Most important is to be effective to be used as a measuring tool strategic plan throughout the year. Considerations In the creation of strategic plan, owners should collect information such as company mission statement last years vision, target customer base data, departmental budgets and financial documents that include a balance sheet, profit loss account and the cash flow statement. Key findings from the past year are very important to the partners, directors, officers or key employees who will be working on the companys strategic plan. Advantages Strategic plan gives owners peace of mind, knowing that the company is on the right path towards success. In difficult times, the realization that requires certain aspects of attention is priceless. Owners may be surprised that the communication be improved to find within the company. Company employees can benefit from a better understanding of their roles and the direction of the company. Invest the time in a strategic plan, and the company will be on the road to success. Importance of Mission Statement for Food Service Business (Restaurant) A mission statement is written in the best cooperation. The decision makers in society should sit down and talk about their thoughts and how they want to represent the company to the public. Ideas should be bandied about, considered and voted then. Once they thoroughly discuss, write and re-write the statement, they should make sure that it is something that people know to appreciate and buy customers. It should provide a statement that remains relevant no matter the difficulty of the enterprise, and can serve as an instrument to overcome the adversity rallying the troops. Mission Statement Our mission is to use superior product, service and management innovations to build a global foodservice company that serves value and quality-driven meals, demonstrates transparent integrity in the marketplace and has one of the best rates of return on invested capital in the foodservice arena Mission Statements role in Companys Success The above mission statement is firm articulation of the companys customers, employees and the world about the purpose of its existence. Obviously, our food service business exists to make money, to maximize profits and equity value, but our mission statement is more on the front than the bottom line. Our mission resonates with the public and tells them why it would be advantageous to do the business with our company. This mission statement represents the companys vision, as the company wants to be seen by our clients. Mission statements include a statement of purpose, a business statement, and an indication of the companys values. The indication of the purpose expressly the purpose of the company, in our case, a food service companys purpose is to provide the target market with quality food. Mission statement should inspire the staff. Thus, our mission brings a certain focus on the employee as the purpose of their work, crystallized, and they are able to see the value of their contribution. Customers are reassured when they are exposed to the mission, as they will be able to see that the company is on its purpose (value driven quality food). There are several things that our Mission Statement addresses, 1), who are our customers, 2) what are their needs and desires, 3) how I can meet those needs and wants, 4) What are the values à ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹that have built our company at present, 5) What values à ¢Ã¢â€š ¬Ã¢â‚¬ ¹Ãƒ ¢Ã¢â€š ¬Ã¢â‚¬ ¹are our company want to have that there, 6), we are all constantly veering together with a single purpose or individual course. Importance of Vision Statement for Food Service Business (Restaurant) Vision Statement Companys well-trained staff, careful planning, targeted market segments, excellent menu, unique value proposition, product quality, hours of operation and accessibility will ensure that Company has a promising future. The management style is flexible, progressive and energetic. Enthusiasm of the management and associates will greatly stimulate the envisioned growth. Vision Statements role in Supporting Companys Mission An organization develops a vision statement and a comprehensive and inspiring mission statement, does not lose the opportunity to present themselves positively to existing and potential stakeholders. All organizations have customers, employees and managers, and most companies need creditors, suppliers and distributors. The vision and mission statements are effective vehicles for communicating with key internal and external stakeholders. The capital value of these statements as tools of strategic management is derived from its specification of the ultimate goals of a company. Entrepreneurial vision provides a context in which people can make decisions at all levels. A shared vision is like a compass and distant destination in the mountains. If you give a group of people a target point and then turn them loose in the mountains in order to reach this goal, they will probably find a way to get there. You may encounter obstacles and bad curves on the road, but with the general direction of the compass, a clear end goal and the belief that they work to a worthy goal, they will probably reach the target. Key objectives and Companys Success Key objectives Establish a financial culture of positive net profit from day one in operation. Successful development of the first two stores in thirty-six months. Achieving accumulated revenue for the first thirty-six months of Companys operations, through two operating stores of $5 million. Creating a Dining Icon in the marketplace through flawless execution of standards and companys core concepts at every level of each stores operations. Become a market leader in the fast casual segment nationwide USA. Key objectives and Companys Success Meeting breakeven point and achieving net profit from day one in operations will make sure that the company is on right track. This will also enable the company to meet its long-term growth funding requirements from within the company, thus eliminating the need for external funding. Operating the second store within first three years will ensure the companys growth. It will also increase the brand visibility which will help increase daily customer visits. Achieving five million dollars in revenue will make sure that the company has enough cash to fund its future growth plan and enable the company to use its internal resources for future funding requirements. Our companys initial two restaurants will provide live operational insight into key areas that affect customer service, product quality and profit performance, including: size of future restaurants; future equipment mix; optimum floor plan for the concept; optimum restaurant staff strength; optimum scheduling-to-peak-demand strategy; and menu-mix based on customer preferences reflected in sales reports. Information from the pilot will contribute to a successful roll-out of the restaurant throughout the country.

Cialis Insead Swot

Case-Study Cialis. This report will be aimed at a SWOT analysis of a new product to treat erectile dysfunction, Cialis, produced by the joint venture Lilly ICOS. Strength : Cialis is more efficient than other products already sold on the market and has less constraints Weaknesses * Lilly ICOS has very low financial funds compared to Pfizer. * The time needed to introduce a new drug on the market is high because it has to be tested to be sure it’s not dangerous. The time needed to convince doctors to switch and suggest a new drug for the same health problem * ICOS has no experience in launching new drug product Opportunities * People who have already tried Viagra and are dissatisfied with it are an easy target. Indeed, these people already talked about the problem to a doctor in the past and these people are still looking for a solution. This dissatisfaction can be due to the fact the product is not working, or for some inconvenience issues, eg. onsumers cannot eat too fat othe rwise Viagra has lower effect. Cialis does not have these constraints. * Viagra is not used a lot by European. The market would thus be easier to penetrate. Threats * The main product used to treat ED is Viagra, produced by Pfizer, has been dominating the market for years and is already known worldwide by consumers. * To penetrate the market, Cialis has to convince two targets: the chosen consumer group but also the doctors who prescribe the drug. There are issues concerning the culture of the target. Depending the country, the consumers are less keen to talk about erectile dysfunction to their doctor. Suggestions To penetrate the market with Cialis, Lilly ICOS should definitely not attack Viagra by the front because the group is too well known and has to higher financial ressources. Another strategy would be to bypass and attack a niche but the benefits would be lowered The best strategy according to me would be to attack Viagra by flank. Cialis has to attack the weaknesses of Viagra looking why it losts consumers. * We have to focus on geographical regions where Viagra is not well implemented. In this case, Cialis would better introduce its product in Europe than trying to do it in US. * Then, Cialis has to convince both targets  : the consumers and the prescriptors. * According to the country, the prescriptors are not the same  : while in US, France and UK it is mainly the family doctor, in Germany, Italy and Spain, people consult a specialist. According to the country, Lilly ICOS should convince the  «Ã‚  most consulted » physicians to propose patients who are dissatisfied with Viagra to use Cialis instead. * The consumers are a second barrier. They could be reached with advertising with a less  «Ã‚  dramatic  Ã‚ » environnement. ED problems have to be considered as common and normal as headache in order to make it easier for them to talk about it to their doctor. These advertising would made play some actors between 50 and 60 because the ED affect people aged in this area.

City of Mount Rainier Essay

Neither does the department of Economic Development for the City of Mount Rainier handle nor is it involved with any matrix of the pricing strategy. As the Organization for Economic Co-operation and Development (OECD) in 2006 stated on production, packaging and pricing, production cycle involves a flow from the dealers, employees and customers automatically between the functional areas and internationally. Reduced ‘product to market’ cycle meant to ensure full and on time delivery to customers keeps a business on track by reducing errors, inefficiencies and high running costs. However, the City does offer a mix of products solely based on promoting development of blighted or under used parcels. Thus, it is critical that any incentive or business assistance be directed to accomplish the marketing objectives of the City of Mount Rainier. For example, the city will offer or sponsor Tax Increment Financing, State grants or Infrastructure Grants to developers to increase interest and make the area more attractive. This is very necessary for the City to be able to compete with other local municipalities and the District of Columbia, making it imperative for the City to use incentives for redevelopment of the downtown business district. Especially considering that the addition of businesses will create higher paying jobs, large capital investment, tourism and greater benefits to the local community. With this in mind, its primary objective is to add to the diversity of the current business population, increase essential tax base in the area, and pursue the highest quality of jobs and investment by providing an overall balanced approach to economic development for the City. Organizations channel design. A good organizations’ channel design enables exchange of information and ideas with external or outsourced personnel such as financial assistants, engineers, designers, and other partners. It is a system that provides solutions including help to speed up development processes and enhance further future improvements in efficiency With this the City of Mount Rainier can be able to streamline the entire value chain, including all key suppliers, subcontractors, and service providers. The system platform raises transparency of production processes, permitting them to identify potential problems at an early stage, and to take immediate action. According to Kotler and Keller (2008), â€Å" a marketing channel performs the work of moving products from producers to consumers, overcoming the time, place, and possession gaps that separate goods and services from those that want them† (p. 232). The Department of Economic Development for the City of Mount Rainier employs a two –level channel of marketing with at least two intermediaries. The City’s intermediately roles are that of an agent and facilitator. Attracting entrepreneurs and private investment opportunities is the primary goal of economic development in the City of Mount Rainier. As for the Department of Economic Development, the greatest aspiration is to turn around Mount Rainier, making the City one of the best places in the world in which to start a profession or grow a business. The department is working to reposition Mount Rainier as the next great American city for business investment and economic opportunity. This entails employing a balanced attack with corresponding efforts to improve business development, while pursuing transformative public policy changes planned to enhance the magnetism of Mount Rainier as a place in which to invest. On the other hand, an integrated logistics system consists of materials management, material flow systems, and although the City of Mount Rainier does not use such a system as a tool for economic development, A fully integrated accurate unit tracking system is a critical component of modern customer relations and service that is in use, and it is also important for inventory and cost control. Just like integrated logistics system, it monitors all the key movements of goods and services in any transaction. Tracking of the way financial agreements are facilitated for business assistance is important because the gathered data is useful for financial analysis. In support of business analysis, the system ought to have a tool that provides the reporting intelligently. (OECD, 2006) Business information across all assistants can be automatically converted into business intelligence reports benchmarking the performance of the business transactions. At the same time analysis on dealerships can show the best business practices for individual or the group of partners. Marketing and communication strategy Considering that City of Mount Rainier is recognizing a need for business retention and attraction efforts, they have partnered with other public and private businesses stakeholders to create an Economic Development Corporation (EDC) to promote the City and its business advantages and opportunities to local, regional, national and international markets. The purpose of the EDC is to enhance the economic vitality of the City and its residents through creating marketing initiatives, business retention programs, business attraction efforts and dissemination of information. Created as a public-private partnership, the EDC can generate business leads and opportunities that the City could otherwise not do, furthering development. In addition, this partnership serves as the first line of contact with the public, business prospects and developers who are seeking information about doing business in the City. Furthermore, the EDC facilitates development, cultivates business opportunities and creates partnerships that will result in increased economic development in the City of Mount Rainier. The question remains, which supreme marketing and communication strategy would boost this collaboration for better growth? For any company to prosper in any of its transactions, a strong and optimal management system ought to be put in place. In line with Poirier and Reiter, (1996), success in a company is enhanced by rapid and reliable exchange of data within its group members and with its business partners. This is vital to the further development products and deliverance of quality services. Technically one important communication strategy would calls for a highly effective communications infrastructure that allows effective coordination and management of highly complex, highly flexible development, design and production processes. In line with Poirier and Reiter, on Advanced Planning and Optimization in (1996), the main aims of marketing managers should be to process aftermarket into one system, plan for wide coverage and include all parties involved in the planning process. P. 160) In other words, high-speed data communications have to be one of the engines driving the growth of any organization or company offering services or dealing with businesses stakeholders. Any marketing strategy should take establishment and enhancement of a quality communications infrastructure in it key aims. This is a reliable system that ought to augment cooperation among virtual elements regardless of their position at the time of requirement. It permits all around the globe contribution to projects without duplication or underutilization of human effort or technical resources. Consideration for one of the various information systems and networks is a standard solution that can be tailored to particular needs. A system that supports all the data and allows for data interchange with outside suppliers and other partners naturally always gives a good return on investment. This is not a matter of just laying down the network system within the company. Efficiency, Security, reliability and scalability of the system are some of the vital parts to be fulfilled by a system so as to support diverse access methods and service levels. As Poirier and Reiter emphasizes, a good system is one that can be geared to the needs of each individual supplier and business partner. (P. 160). Needless to say, this new ways of revitalizing the City’s commercial corridors by encouraging continued and private investment, would highly revitalize strategies allowing the city to target its assistance and support in ways that are sustainable at the local level.

50 Writing Prompts for Elementary School Children

Writing is a skill that every person needs in life, and developing that skill in children is an important part of elementary school studies. However, writing inspiration is not something that every student comes by easily. Like adults, many children tend to get stuck when it comes to thinking of writing ideas on their own. Weve all had writers block at one point or another in our lives, so its easy to understand the frustration students may experience. Just as athletes need to warm up their muscles, writers need to warm up their minds and creativity. Giving students writing prompts, or ideas and inspiration for writing topics, will ease their anxiety and allow them to write more freely. Elementary School Writing Prompts Allowing your students to choose a writing idea each day or each week from the 50 that are listed can provide inspiration for their creative writing.  To make this activity more challenging, encourage them to write without stopping for at least five minutes, increasing the number of minutes that they devote to writing over time. Remind your students that there is no wrong way to respond to the prompts and that they should simply have fun and let their creative minds wander. With prompts that pertain to writing about people, you might encourage students to write about multiple people, considering people in their lives and people they dont know personally. This encourages children to think more critically and consider unknown factors in the creation of their stories. You might also encourage students to think in terms of either the realistic or the fantastic. When the confines of realism are eliminated, students are free to think more creatively, which can encourage them to become more engaged in the project at hand. The person I admire the most is...  My biggest goal in life is...The best book I ever read was...The happiest moment in my life was when...When I grow up, I want to...The most interesting place I have ever been to was...Name three things you dont like about school and why.The strangest dream I ever had was...When I turn 16, I will...Who is the funniest member of your family and why?I get scared when...Five things I would do if I had more money are...What is your favorite sport and why?What would you do if you could change the world?Dear teacher, I would like to know...Dear President Washington, what was it like to be the first president?My happiest day was...My saddest day was...If I had three wishes, I would wish for...Describe your best friend, how you met, and why you are friends.Describe your favorite animal and why.Three things I like to do with my pet elephant are...The time a bat was in my house...When I become an adult, the first thing I want to do is...My best vacation was when I went to...The top three reasons that people argue are...Describe five reasons that going to school is important.What is your favorite television show and why?The time I found a dinosaur in my backyard...Describe the best present you ever received.Describe your most unusual talent.My most embarrassing moment was when...Describe your favorite food and why.Describe your least favorite food and why.The top three qualities of a best friend are...Write about what you would cook for an enemy.Use these words in a story: scared, angry, Sunday, bugs.Whats your idea of a perfect vacation?Write about why someone might be afraid of snakes.List five rules that you have broken and why you broke them.What is your favorite video game and why?I wish someone had told me that...Describe the hottest day you can remember.Write about the best decision youve ever made.I opened the door, saw a clown, and then...The last time the power went out, I...Write about five things you can do if the power goe s out.If I were president, I would...Create a poem using the words: love, happy, smart, sunny. The time my teacher forgot to wear shoes... If youre looking for more writing ideas, experiment with journal prompts  or ideas for writing about important people in history like Martin Luther King Jr.