Integration – Casual Chains and Strategy
Integration – Casual Chains and Strategy
The strategic plan involves setting goals and targets, and creating regulating measures that guarantee actions taken will increase the chances of meeting the set goals. The strategic plan requires the goals be set on vital components in the running of the business. These include financial goals, customer service goals, internal goals and learning and growth goals. The financial goals are aimed at increasing funds for research, creating more resources and improving the market returns. Customer services goals are directed at improving customer services and relations to boost returns. The internal goals make it possible for the company to advance the human resource skills and increase the employee capacity that maintains quality services. Learning and growth goals endeavor to ensure that resources are available so that efficiency in customer service is enhanced.
The objectives covering these sectors have to work in unison for an effective outcome. The ultimate goal is financial stability. Therefore, the company identifies the low-level objectives as they work their way up. The low-level objectives include human capital, organizational capital and informational capital. Informational and human capital is aimed at improving excellent services in the internal organizational goals. Informational capital is the resources assigned for market research to understand the needs of the clientele (Peppers & Rodgers, 2004). The human capital is the resources put in place for recruitment of personnel. Organizational capital is the resources allocated to improve skill and develop a culture. This is tied into the corporate practice found in the internal objectives.
The internal objectives include the corporate objectives, human resource and excellent services objectives. Excellent services will mean that the learning objectives have been met. It would also mean that the company has the right information about customer needs and that there is enough labor to meet these needs. For excellent services, it is also vital that the labor force adopt a culture that is aimed at providing the best of services at all times (Fogli, 2007). This can only be achieved if the company strives to achieve excellence by offering training to develop the necessary skill sets for good services.
The next strategic objective is the customer objectives. The customer is the most important entity in a business arrangement (Humphrey, 2010). This is because the customer is the chief source of revenue for the businessperson. The objectives include respect for the customer, striving to excel and excellent services. All these can be achieved by the ensuring the goals in the internal stage have been met. Human resource ensures respect for the customer, and this will lead to excellent services to the consumer. Good services increase customer satisfaction, and this, in turn, yields better returns for the company.
Ultimately, the strategic plan strives to meet the financial goals of the company. The main objectives include improved returns, creation of resources and funds for research. Excellent services ensure that the company gets enough revenue from the customer. Revenue is the primary supply of the resource the company needs to fund the company resources. Reinvestments make sure the company always has enough. The firm will also have more funds to carryout market research, improve the quality of services further, and subsequently increase the revenue base of the company exponentially.
At the internal level, there should be a management objective. The main objectives in this category will be improved management skills and the well-defined hierarchy of management. This will ensue that the employees are well organized to ensure that quality services are always offered. It is not possible for employees to work effectively without a proper chain of command in place. This carder will also ensure that the company standards of service delivery are met and that the company culture is effectively inculcated. The strategy as laid out in the table has an unnecessary objective in the customer level. Striving to excel should be eliminated, since it serves the same purpose as excellent services. The main aim of the company is to strive and provide better services, which is already implied in the excellent services objective in the customer level.
To achieve these goals, strategic action plans have to be considered. In the learning and growth level, for example, the action plan is improved and efficient systems and improving the organizational culture. Management, therefore, has to ensure that the company improves the leadership and organizational culture of the company by improving skills through training and relevant knowledge. Training more personnel ensures that qualified staff will be recruited in new shops. The employees also have to be involved in decision making so that they feel they are part of the organization (Miller, 2011). For employees to contribute to effective decision making, they need to be trained on how to carry out a market research while working to understand customer preferences. It is when all this is done, that the company can now build additional stores and strategizes on making more returns.
Wal-Mart has maintained a strong global presence despite the tough economic situation of late. It has managed to enhance its sales by three percent. This is an admirable achievement especially when we think of the downward growth trends in other global companies. Wal-Mart has to maintain growth to make sure that people save money. If Wal-Mart incurs loses, it will be up to the consumer to make up the deficit by buying goods at high rates. Conversely, a steady growth in sales and profits ensure that the consumer buys goods at fair prices thereby improving the lives of the consumers. This particular strategic plan is therefore important in ensuring that Wal-Mart maintain a steady growth.
Fogli, L. (2006). Customer Service Delivery: Research and Best Practices. Chichester: John Wiley and Sons.
Humphrey, D., & Career Solutions Training Group. (2011). 21st Century business: Customer service. Mason, OH: SouthWestern Cengage Learning.
Miller, K. (2011). Organizational communication: Approaches and processes. Belmont, Calif: Wadsworth.
Peppers, D., & Rogers, M. (2004). Managing customer relationships: A strategic framework. Hoboken, N.J: John Wiley & Sons.
Simplified Strategy MapPerformance MeasuresTargetsActionFinancial
Creation of resources