Business Policy And Strategy
My company is a wellness business. We are into the business as a result of the need for an alternative medicine. We use touch and other therapeutics technique to effect changes in the body for relaxations and healing. What is your company’s strategic intent? The company’s strategic intent is management action plan for competing successfully and operating profitably based on an integrated array of considered choices like action to gain sales and market share with lower prizes based on lower costs, actions to capture emerging market opportunities, and so on What are your company’s financial objectives?
Financial objectives of my company, relates to the financial performance targets, that management has establish for the company as follows. • Target to increase annual revenue • Target to increase after tax profit • Target to increase bond and credit rating • Target to have internal cash flow to fund new capital investment. • Target to increase profit margin. What are your company’s strategic objectives? Our company’s strategic of objectives includes.
Achieving lower overall cost than rivals. • Overtaking key competitors on products performance or quality customer service. Having broader or deeper technological capabilities than rivals. • Having a wide products line than rivals. • Having a better known or more powerful brand name than rivals. • Having stronger national or global sales and distribution capabilities than rivals. • Consistently getting new or improved products to markets ahead of rivals. • We mean a good percentage of market share. What are the three or four key elements of your company’s strategy?
Four of my company’s key strategies are: • How to outcompete rivals. • How to respond to changing economic and markets conditions and capitalize on growth opportunities. How to manage each functional piece of the business for example, R&D, supply chain activities, production, sales and marketing , distribution, finance, and human resources. • How to improve the company’s financial and market performance. • Write a vision statement for your company and refer to Table 2. 1 for dos and don’ts. • The vision statement of my company is the management aspiration to stakeholder that will help steer the energies of company personal in a common direction which delineates the company’s strategic course and longtime direction.
The dos are: Be graphic, Paint a clear picture of where the company is headed and the market position(s) the company is striving to stake out. • Keep vision statement focused. Be specific enough to provide managers with guidance in making decisions and allocating resources. • Have some wiggle room. • Be sure the journey is visible. • Indicate why the directional path makes good business sense. • Make it memorable. The don’ts are: • Don’t be vague or incomplete. Never skimp on specifics about there the company is headed or how the company intends to prepare for the future. • Don’t dwell on the present.
Vision is not about what a company once did or does now; it’s about where we are going. • Don’t use overly broad language • Don’t state the vision in bland or uninspiring terms. • Don’t be genetic. • Don’t rely on superlatives only. • Don’t run on and on. Create a slogan that captures the essence of your strategic vision and helps communicate the visions to company personnel, shareholders and other stakeholders. “Good health makes all the difference” We offer our customers massage in a relaxed atmosphere for the healing of mind and body. We have a world class trained personal with disciple and dedication to clients.