Bus 475 Strategic Plan Part One
Please use this as a guide for your paper. Strategic Plan Part One: Eco Living Construction BUS/475 Strategic Plan Part One: Eco Living Construction The following is part one of the strategic plan for EcoLiving Construction. In the first part of the strategic plan I will define my business, the services provided, and the customers to be served with my mission statement.
I will create a vision for my business to demonstrate what I want my business to become.I will define the guiding values of my business taking into consideration culture, social responsibility, and ethics. I will determine how the vision, mission, and values will guide my strategic decisions as well as assessing how the business will address the customer’s needs and attain a competitive advantage (University of Phoenix, 2009). Mission Statement According to Pearce and Robinson, “The mission of a company is the unique purpose that sets it apart from other companies of its type and identifies the scope of its operations,” (2009, p. 11).
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The mission statement is usually defined by the owners of the company, or it the company is large enough it will be discussed by the board of directors. Of course most businesses start our small and if they do well enough can become large corporations. Throughout this time and as the business grows they will need to update the mission statement to reflect the company at the present time. The mission statement will usually answer question such as why the business exits, who the clients are that the business serves, what are the services or products they provide and how the business operates.All of these questions should be answered in the statement in 50 words or less. The mission statement is more to communicate to employees and stakeholders to keep the vision for the company on track.
The mission statement for EcoLiving is “To provide cost-effective, quality, and modern design and construction services while promoting greener living. Striving to advise and help our clients reduce their carbon footprint, along with our own, for the well being of our future generations. ” Vision StatementAccording to Pearce and Robinson, “A vision statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future,” (2009, p. 37). To put it simply the vision will paint a picture of what it will be in the future. The vision statement is going to be where the owners or board of directors, see the business going, and will change as the business grows.
In order to achieve that goal it is good to have it in writing to help all those who are in the business visualize where the business is going and helping make that vision a reality in the future.The vision statement helps describe the purpose of the business. This also brings the businesses values out to show the customers and stakeholders what is valued most by the business. People have values that they hold dear to them and they look for businesses that are like minded in that sense because they feel connected to the business. The vision statement for EcoLiving Construction will be, “Helping people go ecofriendly with class and style. ” ValuesValues are the fundamental personal standers that guide a person or a business’s sense of honesty, integrity, and ethical behavior (Pearce & Robinson, 2009).
Everyone has different values that they hold and the same will go for a business. What one person may see as a wrong another may not see it the same way. Values will set one business apart from another. The core values of EcoLiving Construction will be to make the world a better place, integrity and ethics, teamwork, accountability, safety, community involvement, and innovation.Strategic Direction The vision statement, mission statement, and values will help to guide the business into a strategic direction plan to achieve the mission of the business. The strategic direction of a business will be established during the planning phase of the business.
The strategic plan must be flexible so that the business can look at where it wants to go and make sure that it is headed in the correct direction, if it is not on track then the business should make adjustments to the plan to get back on track.EcoLiving Construction’s strategic direction is to become an ecofriendly business that designs and constructs homes that are ecofriendly. The business will have to use cost-effective materials and cater to the client’s needs and wants for their home. EcoLiving will also offer consulting and remodeling to individuals who already own a home but would like to become more ecofriendly to reduce their carbon footprint. This will entail the use of recycled materials and renewable resources.
Other additions to the building of these homes will be renewable energy resources for the home such as using solar panels and windmills, if permitted. Competitive Advantage EcoLiving Construction will have a competitive advantage over regular construction companies because today a lot more people are concerned with being ecofriendly and helping the environment. Recycled products will be easier to come by and will be more cost-effective because the materials can be made all the time.This kind of construction will have less of an impact on the environment. EcoLiving Construction will have to take a look at competitors in the ecofriendly industry to where EcoLiving Construction will be offering their services. Quality and cost-effectiveness will be where EcoLiving will need to stand out compared to competitors in the area.
Conclusion Conceptualizing a business takes a lot of work and planning. The basis of the planning starts with the mission and vision statement along with the values that the business holds.Without a vision and mission statement how can a company know what direction it will take to be successful and be competitive with other businesses in the same industry. The statements and values also help the business in the strategic direction it will take as well as aiding in a competitive advantage over the rest. References Pearce, J. A.
II, & Robinson, R. B. (2009). Strategic management: Formulation, implementation, and control (11th ed. ).
New York, NY: McGraw-Hill. University of Phoenix. (2009). Course Syllabus. Retrieved from University of Phoenix, BUS475 website. References