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Career Connection: Values and Strategy Paper
Career Connection: Values and Strategy Paper
In this report, you will read about a potential start-up company
that will potentially move from idea stage to a physical stage in
the future. The start-up is of fast food origin and has the
potential to be something great. Over the course of six weeks,
these reports will look in debt to this potential start-up venture
while highlighting along the way some of the process to
consider, strategies to take while understanding what challenges
may arise. The idea of this report is to make sure that the right
decisions are made while minimizing any mistakes that can
occur. In addressing these concerns, this report will review the
major components of the strategic management process and how
those components work together in value creation for the
organization. This report will review the company’s mission and
vision statements/ motivation, innovation, and people strategy.
Lastly this report will describe the role for ethics and corporate
social responsibility in the strategic planning process.
As an entrepreneur, starting this fast food business begins with
putting together a process that lays the foundation for creating
an idea into reality. Such a process starts from the strategic
management plan. The term strategic management plan
according to (Hitt, Ireland & Hoskisson) states, “is the full set
of commitment, decisions, and actions required for a firm to
achieve strategic competitiveness and earn above-average
returns” (2015). This is a repeated process that reviews the
company and industry in which the company is occupied in.
When strategy management reviews a competitor, it’s looking to
strategize the current goals to meet the future goals against
competitor’s and then reassess the strategy over time. For an
individual or a group that is striving for success, it can reduce
the possibility for a downfall for a company as it will meet the
environment of the most recent competitive landscape. The
major components for strategic management process focus on
environmental analysis, the formulation of strategy, the
implementation of the strategy, and evaluation of the strategy.
The major components for strategy management plan
(environmental analysis, the formulation of strategy, the
implementation of the strategy, and evaluation of the strategy)
provides an framework for an existing business or a new start-
up, each component is critical in the strategic plan that a
business puts forth. For instance, environmental analysis is a
process for the collection, for scrutinizing as-well-as presenting
data for strategizing intentions. It helps with evaluating an
internal and external circumstances that effects a company.
Once the environmental scanning has been executed, the
company’s management team will be able to evaluate the
analysis on a continuous basis and strive to make improvements
as needed.
Formulation of strategy is a measure in the decision on the best
path a company should take in accomplishing the organizations
objectives thus achieving the purpose of the organization. After
carrying out the environment analysis, the management team
will put together a strategy for the company to follow.
Implementation of the strategy is a measure that entails building
a company’s strategy to perform as envisioned or committing
the picked strategy into motion. This strategy involves forming
the structure of the company’s, the distribution of supplies, the
development for a administrative process, which includes
human resource managing.
Evaluation strategy is the last procedure for the strategy
management plan. This strategy contains the opinion for
internal factors as well as external factors for the source of
current strategy or corrective actions to be taken forward. This
measure ensures that a company plan has execution, are meeting
company objectives. Each of the elements are progressions that
handle things sequential order, in developing a new
management strategy plan. Current companies whom already
have a strategy plan in place, typically go back to these
measures depending on the situation requirement, in making any
or all necessary changes to the plan.
“Without a strategy, an organization is like a ship without a
rudder, going around in circles”. (Joel Ross and Michael Kami)
A company can have employees, plenty resources and energy,
but if it lacks a clear and captivating vision of where it will
head, then it certainly struggles. Procedures for company
strategies are designed to avoid such a situation, and to help
manage a company to move efficiently toward their goals. Thus,
is the case for the start-up fast food restaurant. The vision
statement is focused on being the best within its industry for
taste, quality, and customer satisfaction. Often these are some
of the basic components that can drive a restaurant business into
the ground. Customers want to feel that the restaurant is
providing authentic food whether it’s a fast food chain or not.
If the company isn’t meeting the needs of the consumer, then
chances are they will fail.
The role of ethics and corporate social responsibility in
strategic planning for a start-up business is key. They (ethics
and corporate social responsibility) involve learning the right
and wrong in business, but making sure that as the manager of
the business, they are doing the right thing. The fast food
company within its vision, is aligned to that of the owner. In
starting a business, the owner of the company is responsible for
making sure all regulations are met, that all certifications have
been obtained, that every inch of the property, is safe for
customers in every way. The owner must manage ethics within
the workplace amongst staff, develop a code of ethics, and
develop a code of conduct. This provides a foundation for
employee’s and management to understand what is right and
wrong in the workplace and how to conduct themselves.
In closing, the purpose of this report was to discuss several key
items for a potential start-up company that will potentially
move from idea stage to a physical stage in the future. This
report reviewed the major components of the strategic
management process which are Environmental Scanning,
Strategy Formulation, Strategy Implementation, Strategy
Evaluation and understand that these components work together
as they do because it (strategic management process) is an
ongoing process that is continually reevaluated an updated as
needed. This report also reviewed the company’s mission and
vision statements/ motivation, innovation, and people strategy.
Since this is a new start-up company, the focus was on the
vision that the fast food restaurant has while indicating that
such basic principles can make or break a business. Lastly this
report described what steps the manager must take in the role
for ethics and corporate social responsibility in the strategic
planning process.
Reference
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2015). Strategic
management: Competitiveness and globalization (11th ed).
Stamford, CT: Cengage
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Strategic Plan Part 1: Environmental Scanning
Strategic Plan Part 1: Environmental Scanning
The owner is continuing to put together the research needed to
open his new restaurant named aNachos in the heart of Chicago,
IL. As discussed in the previous report, this start-up venture
will highlight many processes to consider, strategies to take
while understanding what challenges the owner may face along
the way. In seeing the potential for this restaurant to grow, the
owner must conduct an environmental scan of his business. The
purpose of an environmental scan is to business owners,
managers, and leads to decide the future path that an
organization should take. In conducting this analysis, the
following information will be considered: Determine how to
create value and sustain competitive advantage using the
environmental scanning strategy, evaluate a company’s external
environment, assess the company’s general environment, and
evaluate the organization’s industry operating environment.
Environmental Scan Strategy
To create value and sustain competitive advantage aNachos will
use environmental scanning to research new market
opportunities, review trends in current markets and analyze
product sales in all markets. When a company like aNachos
wants to create value a competitive advantage, the company
must establish brand loyalty with its customers. It builds a trust
with the customer that the company is providing them with
quality of product or service. Another way is to use incentives
with customers such as discounts for birthday’s or price
reduction due to a sporting event or purchase of party size
order. For the company to sustain its competitive advantage, it
will utilize the feedback and recommendations from customers
in designing and developing menus and food selections that
meet the needs of all patrons. The company will locate an area
with few competitors that serve similar food to minimize
customers from choosing between competitors. This company
will also select a highly visible location that has a large
consumer base nearby. Highly visible locations include areas
near schools, downtown areas, places where people hangout on
weekends and off days. Once the location has been selected,
analyze any local competition. Other restaurants are
competition, but this is more geared towards grocery stores or
convenience stores that may also sell prepared food to
consumers. Next, identify the competitor’s strengths such as
grocery stores that offer ready to eat meals for customers while
they shop. While reviewing the strengths, also review the
competitor’s weakness. For instance, as stated in the previous
example, if the competitor offers ready to eat meals, are the
meals stale from sitting out for long periods.
External Environment
“A firm’s external environment consists of all the conditions
and forces that affect its strategic options and define its
competitive situation and must begin with the development or
reevaluation of a company’s mission” (Pearce & Robinson,
2009). aNachos must understand how the external environment
will affect the strategy for his start-up business. “There are
several aspects of external environment; economic,
political/legal, technological, and sociocultural” (Hitt, Ireland,
& Hoskisson, 2015). The economic impact for aNachos is
challenged by an industry that pays employee’s a lower wage.
The fast food industry has a higher turnover ratio because of
lower wages. To offset the lower wage, companies will provide
benefits to help retain workers. Such benefits include paid
vacation, insurance (medical and dental), and education
funding. The legal impact for the company may be a penalty if
calories are not listed on the menu. It may alter the plans for the
business if customers are no longer interested in an item as it
will lose appeal due to the number of calories it contains. The
technological impact in today’s fast paced market indicates that
consumers want to make purchases quick and obtain the
purchases quick. Various websites, and apps allow customers to
make a purchase from their phone or computer and have their
purchase delivered. The sociocultural impact is the current
attitude of consumers that are driven by campaigns of healthy
eating and food safety concerns.
General Environment
The industry environment looks at the conditions that affect the
people in a specific industrial market that cannot be influenced
by marketing. The specific environment is make up of many
factors to considered. A company has the ability to monitor the
needs of consumers through determining problems noticed by
the consumer or anticipating them before they happen. aNachos
will have to pay attention to competitors that are well-known,
because all levels of management frequently underestimate the
competitors or have a poor job in recognizing potential
contender. The buyers along with the suppliers depend on one
another, and that dependency may lead to unprincipled actions.
Such actions where the two obtain benefits at the expense of
one another. Businesses are affected by regulatory agencies as
they create the rules as well as enforce them. Advocacy groups
do not have the regulatory power to change the practices of a
business. What they can do is advocate their concerns for
changing business practice by informing consumers through the
media and boycotts, as a way of convincing company to change
its practice.
Industry Operating Environment
aNachos as a company that will prepare food, is similar to many
of the constant elements that involve retail businesses. A direct
strategy such as opening new doors is typically a leading way
for a business to generate revenue in the beginning stage. When
a business is analyzing other restaurants, using comparable
store sales, is a beneficial metric to use. What makes
comparable so important is once the business gets to the stage
of maturity, it becomes the leading driver for growth.
Additional products and rises in menu-price, are the main ways
to boost store sales. The cost of food is plainly a line item of
great importance that at times may fluctuate as a result of price
changes by suppliers. Another cost to factor in for the restaurant
industry is labor. Constant changes into state or federal law can
have an impact minimum-wage which can have an affect
towards the costs and margins to a restaurant's.
In conclusion, this report focused on the potential for aNachos
to grow. The owner had to conduct an environmental scan for
his business. The purpose of an environmental scan is to help
business owners, managers, and leads to decide the future path
that their organization should take. In conducting the analysis,
the following information was considered: Determine how to
create value and sustain competitive advantage using the
environmental scanning strategy, evaluate a company’s external
environment, assess the company’s general environment, and
evaluate the organization’s industry operating environment.
Reference
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic
Management: Competitiveness & Globalization: Concepts and
Cases (11th ed.). Stamford, CT: Cengage Learning.
Pearce, J. A., & Robinson, R. B. 2009. Strategic Management.
Formulation, Implementation, and Control. (11th ed.). McGraw-
Hill Companies, Inc.
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Strategic Plan Part 2: Internal Environmental Analysis
Strategic Plan Part 2: Internal Environmental Analysis
In this report, the company of aNachos is continuing its
strategic plan and focusing on the internal environment. The
company will focus on the following sections: Assessing the
organizations internal environment, it will identify the most
important strengths and weaknesses of the company including
an assessment of the company’s resources, it will identify the
most important internal environmental factors, perform a
competitor analysis, assess the structure of the organization and
the influence this has on its performance and lastly determine
the competitive position and the possibilities this provide for
the company.
The term internal environment is described as the
circumstances, systems, measures, and determinants within a
company that shape the activities and distinction, particularly
the demeanor of the employees. Determinants that are many
times considered part of this environment include the company
mission statement, style of leadership, and the culture in the
company. The mission statement should embody the things that
the company will do and won’t do. The mission statement sets
the expectations from management on down on what is required
by each employee during their time with a company. The style
of leadership helps set the tone for employees to follow. One
example of a leadership style is authoritative which sets in
motion how the team will come together on a shared vision and
central point on the goals, leaving the ways forward to each
employee. Another example of a leadership style is an
instructing leader which builds up their employees for the
imminent opportunities ahead. The culture in the company
consists of core values and behaviors that employees share and
utilize daily. Such values and behaviors are showing respect to
each other and the customers they serve. Providing teamwork in
every capacity, developing learning opportunities for potential
advancement and making sure each employee is aware of the
goals that are being set through employee engagement.
Identify the most important strengths and weaknesses of your
organization including an assessment of the organization's
resources. In identifying the most important strengths and
weaknesses my aNachos, one most first understand what defines
strengths and weaknesses. The term strength is best described as
the qualities that enable everyone involved with the company to
accomplish the company’s mission. The term weakness is best
described as a quality that prevents the company from
accomplishing the mission and not achieving it full potential.
For aNachos to gain success in the restaurant industry, the
company must consider the most important internal
environmental factors. Such factors include competition,
compensation, legislation and employee relations. The
competition in any given industry will have an effect on a
company’s ability to recruit qualifying staff. For organization
that have hundreds to thousands of employees, candidates tend
to seek out the organization. A smaller new company such as
aNachos that does not have the same branding power as a bigger
well-established restaurant, will have to send money advertising
to gain recruits.
The second important internal environmental factor is
compensation. The cost of labor for a small business must be
attractive enough in the recruitment of employees. In an
oversaturated market such as the one currently, with a relatively
high unemployment rate and their being many more candidates
qualified than actual opportunities for employment available,
the amount in compensation by aNachos must provide is less
than when there is a shortage of candidates in existence and a
company having to compete with other companies to recruit
employees.
The third important internal environmental factor is Legislation.
Whither it’s the state or federal levels of government,
companies are impacted by the legal decisions made by elected
officials. For instance, regulation laws are principles that can
influence a company can function during certain cases. For
example, environmental regulations, building code laws as well
as what types a license a business needs to have to operate.
Labor laws are another form of regulation that pertains directly
to how a company treats their employees. Such regulations
include, minimum pay standards, pay garnishment and worker
protection guidelines. There are also tax regulations in which a
company must provide a summary of its monetary standing to
the government and reporting regulations that have oversight on
how a company summaries its capital to the government and
shareholders
The last important internal environmental factor is employee
relations. The internal procedures and policies also can impact a
company. Whither it’s the hiring of new employees or
promoting current employees, the manager must ensure that the
employee is receiving appropriate training and development for
any role they will play for the company. If the company
provides benefits such as education assistance, the company
must outline what those conditions are and ensure that
employees and meet the criteria needed. Should aNachos have a
union based work force, the manager/owner will have to engage
in collective bargaining with the union on matters of
representation.
According to (Hitt, Ireland & Hoskisson 2015), the term
competitor analysis is described as, “How companies gather and
interpret information about their competitors”. An assessment
of the competitor analysis, allows a company to focus on those
companies with which it will be in continuous competition with,
and it is especially important when a company fronts fewer
possible competitors. An area of focus for aNachos will be: To
examine the market, to formulate strategy, and to create strategy
for business expansion. In examining the market, this entails
determining if there is an opportunity within a specific market.
For instance, if aNachos can factor the market share or even the
percent of industry sale totals that each competitor would have
or conducting specific research on the target base (that being
customers) will determine the size of the market within that
location. To formulate strategy as a new start-up, aNachos can
consider reviewing the setting of the company’s objectives,
have an evaluation of the company’s environment, setting
measured targets and continue to aim for reaching overall
company goals, both short and long term.
To develop a strategy for business growth, aNachos will have to
begin by using market penetration by selling more types of
nachos to its current customer base. Then utilizing market
development and developing other ways to sell the nachos to
markets like the industry. This can be opening new restaurants
in different locations. Another method can be using alternative
channels. Instead of customers coming to the restaurant to
purchase their food, ordering online or through an app and the
food being delivered to them.
Assess the structure of the organization and the influence this
has on its performance. A promise that arises for startup
companies is understanding how to develop an organization
structure, or how a company defines roles, teams, and
supervision. For a startup such as aNachos, it is important to
plan for it as the company will expect to grow. As a small
business, the types of organizational structures that aNachos
should consider are functional, divisional, or matrix. The first is
functional which a company builds a scale based system on the
position for each employee. Functional is a structure putting
together employees that will work toward a shared goal. The
second is divisional which disperse the functional structure
because the duties of the employees are separated by product or
region, rather than function, with a company. The last is matrix
which integrates the characteristics of both functional and
divisional. The matrix structure works just like a team. Instead
of division heads, each area has a leader. The matrix brings a
combination of employees who center around a project, but fill
other types of duties, across the company. The matrix structure
is the most dispersed, which indicates it can distract employees
about who is in charge. A company’s framework can influence
the performance by setting company goals and having regular
performance reviews. “The findings reinforce the position of
structure on performance, and organizational structure directly
affects the organizational learning and innovation.
Organizational learning has an effect on performance through
innovation and depends on the firms and industrial character”
(Qingmin Hao, Helmut Kasper, Juergen Muehlbacher,2012).
Establishing the goals for a company gives all levels of
management and their staff a specific area of focus to strive for
during the fiscal year. It builds cooperation amongst employees
in seeing the company be successful which benefits everyone
involved with the company.
To determine the company’s competitive position, an
assessment must be taken to see what will allow the company to
stand out and ahead of all other competitors in the market. Such
as assessment would consider various ways of adding value.
Such ways aNachos must consider are offering better prices and
the type of service it will provide when compared to its
competitors. Another method is creating industry benchmarks
that will indicate what your spending is in comparison to the
company’s competitors. For example, if the industry spends on
average around 30 percent of sales on payroll, aNachos can
make a comparison to see where the company stands in
comparison to everyone else. Making an assessment to the value
chain can indicate areas of the business such as supplier, hours,
employees or store are areas that need improvement and take the
necessary measures to strengthen the company.
In closing, this report provided the second phase for the
company of aNachos’s strategic plan and focusing on the
internal environment. The company focused on the following
sections: Assessing the organizations internal environment,
identifying the most important strengths and weaknesses of the
company including an assessment of the company’s resources. It
identified the most important internal environmental factors,
performed a competitor analysis, assessed the structure of the
company and the influences this has on its performance and
lastly determined the competitive position and the possibilities
this will provide the company.
Reference
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic
Management: Competitiveness & Globalization: Concepts and
Cases (11th ed.). Stamford, CT: Cengage Learning.
Qingmin Hao, Helmut Kasper, Juergen Muehlbacher, (2012)
"How does organizational structure influence performance
through learning and innovation in Austria and China", Chinese
Management Studies, Vol. 6 Issue: 1, pp.36-52,
https://doi.org/10.1108/17506141211213717
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Strategic Plan, Part 3: Strategic Evaluation and
Recommendation
Strategic Plan, Part 3: Strategic Evaluation and
Recommendation
In part three of this report, we will evaluate many strategies and
make recommendations for aNachos to consider. The evaluation
will consist of multiple items such as, evaluating the potential
business level strategies for the company. Next, we will assess
potential corporate level strategies for the company. From there
we will assess potential global strategies for the company,
Lastly, we will provide our recommendation of a strategy or a
combination of multiple strategies for aNachos to implement,
and include a rationale for that recommendation.
To evaluate the potential business-level strategies for aNachos
to consider, one must first understand the term. According to
Strategic Management: Competitiveness & Globalization:
Concepts & Cases “A business-level strategy is an integrated
and coordinated set of commitments and actions the firm uses to
gain a competitive advantage by exploiting core competencies
in specific product markets” (Hitt, Ireland & Hoskisson, 2015).
The strategy of business-level is made up of five types (cost
leadership, differentiation, focused cost leadership, focused
differentiation and integrated cost leadership/differentiation).
Cost leadership is described as a series of movements that a
company will take when producing goods or services, that
usages is acceptable to consumers for a lower cost, in
comparison to a company’s competitors. Differentiation is a
series of actions that a company will take when producing goods
or services, by which the consumer sees it as specific to ways
significant to them. Focused cost leadership is an action taken
by a company in contending based on price to aim at for a
narrow market. Focused differentiation which is an action taken
by a company proposing a unique feature that will fulfill
consumer demands in a narrow market. Integrated cost
leadership/differentiation states that a mixture of captivating
consumers in primary value chain activities and support
objectives that favor pursuing lower prices and differentiation
at the same time. The aNachos strategy will gain success by
giving customers the combination of excellence and intriguing
styles of nachos within an environment that will appeal to a
wide and varying group of people. aNachos will have a
competitive edge in its menu pricing. The competitive edge
includes, student discount pricing of 5 to 10% off with student
ID, lunch-time discounts for companies within a five-mile
radius of 5 to 10% off and special pricing for events or parties
with 50 or more customers up to 15% off. With fewer than five
immediate restaurants near the location for Alston Nacho, the
focused cost leadership approach will give this company a
competitive advantage.
In evaluating the corporate level strategies for aNachos to
consider, the term is defined as, “specifies actions a firm taken
to gain a competitive advantage by selecting and managing a
group of different businesses competing in different product
markets” (Hitt, Ireland & Hoskisson, 2015). Corporate level
strategy is mainly troubled by the strategic decisions a business
makes that affect the entire organization and using
diversification to help reach those goals. The two types of
corporate level strategies under consideration for aNachos are
(single business and dominant business). A business that is
single in form of corporate level strategy where a company
makes 95% or greater of selling for a profit from its main
business. A dominant business is a form of corporate level
strategy where a company generates 70 and 95% gross revenue
within the single business area. The main reason a company
utilizes the corporate level strategy is to have growth in revenue
and profits. Another area to consider for growth using the
corporate level strategy can be market development through a
company entering a different geographic market. This strategy
level while using the single business model, indicates that
aNachos is solely focused on one industry, the fast food
industry, and growing and developing a distinctive brand from
all others.
To assess the global strategies for Alston Nacho to consider, the
term is defined as, “A global strategy is an international
strategy in which a firm’s home office determines the strategies
business units are to use in each country or region.” (Hitt,
Ireland & Hoskisson, 2015). When a company engages in a
global strategy, there are multiple perspectives to consider. The
first one is from the company which thinks about how
expanding will provide the company with new sales and profits.
For some companies, expanding may put the company into a
better situation to generate profits if its original home market
had only poor profits. From the consumer view, it will lead to
prices being lower for products and services, as a result of
economies of scale and scope that will take into account the
larger global base. From an international government
perspective, it removes barriers to trading around the world at
the same time, providing protection to other industries in
different countries. Each country has difference in cultures as
well as preferences, but if a product or service that may sell
extremely well in one country, may not sell as well in another
country. aNachos utilizing the global strategy for expanding
into international territory as a well-positioned brand would not
be difficult. The key factors that aNachos should consider in
expansion are people in other countries interested in different
styles of nachos? Will the company have access to the kinds of
ingredients it will need? If not, what would be the cost to obtain
those ingredients to that market?
In recommending a strategy or combination of strategies for
aNachos to consider implementing, it’s best to use a
combination of the business level strategy (Focused cost
leadership) and the corporate level strategy (Single business).
After reviewing what defines both terms and understanding how
a business can utilize both, a new startup company such as
aNachos would benefit greatly from both. The business level
strategy will focus on centering itself on developing a position
against its competitors and remaining updated on market trends
and changes in technology. As most of its menu options are
priced between 6 and $15, it meets the pricing of most of the
restaurant in Hyde Park a neighborhood of Chicago. This will
give aNachos an advantage of narrowing the market to compete
for those customers.
The corporate level strategy will give aNachos a single focus to
work towards. Since the company is not looking to diversify
into other ventures, it will look at what strategy will help the
company achieve the strategic direction it seeks in
accomplishing its long-term goals. This can include deciding
which items to list on the menu as well as the potential market
to compete in. It may define the geographic boundaries for
aNachos operations. The corporate level strategy will help the
company set aside money, staffing, and various other resources.
This strategy may also guide the decisions about adding a new
location in the near future or even whether to compete with
another company or partner with another entity that will benefit
all companies involved. The strategies of business level and
corporate level focus on an overall performance for the
company which is what this new company will need.
In conclusion, this report evaluated many strategies and made
recommendations for aNachos to consider. The evaluation
consisted of multiple items such as, evaluating the potential
business level strategies for the company (aNachos), assessing
potential corporate level strategies for the company, and
assessing the potential global strategies for the company.
Through the recommendations provided, aNachos will use a
combination of the business level strategy and corporate level
strategy. These strategies best fit the company as it looks to
become successful in the short term and in the long terms a new
company.
Reference
Hitt, M.A., Ireland, R.D., and Hoskisson, R.E (2015) Strategic
Management: Competitiveness & Globalization: Concepts &
Cases, Eleventh Edition, Cengage Learning.
1 Implementation Plan(20%)
Does Not Meet Expectations
Did not create an implementation plan.
Approaches Expectations
Created an implementation plan that included some, but not all
of the required elements of the plan.
Meets Expectations
Created an implementation plan that included all of the required
elements of the plan.
Exceeds Expectations
Created an implementation plan that included a creative and in-
depth discussion of all of the required elements of the plan.
2 Change Management(15%)
Does Not Meet Expectations
Did not recommend organizational change management
strategies that may enhance successful implementation.
Approaches Expectations
Analyzed organizational change management strategies that may
enhance successful implementation.
Meets Expectations
Recommended organizational change management strategies
that may enhance successful implementation.
Exceeds Expectations
Created organizational change plan to address any
organizational change management strategies that may enhance
successful implementation.
3Strategic Control(20%)
Does Not Meet Expectations
Did not develop key success factors, budget, and forecasted
financials, including a break-even chart.
Approaches Expectations
Developed key success factors, budget, and forecasted
financials, including a break-even chart that addressed or
covered part of the implementation plan.
Meets Expectations
Developed key success factors, budget, and forecasted
financials, including a break-even chart.
Exceeds Expectations
Developed, from a unique and creative perspective, key success
factors, budget, and forecasted financials, including a break-
even chart.
4Risk Management(15%)
Does Not Meet Expectations
Did not create a risk management plan including contingency
plans for the identified risks.
Approaches Expectations
Created a risk management plan including contingency plans for
the identified risks which addressed part but not all of the
contingency plans and risks.
Meets Expectations
Created a risk management plan including contingency plans for
the identified risks.
Exceeds Expectations
Created a unique and creative risk management plan including
contingency plans for the identified risks.
5 The paper is organized in a logical and coherent manner.
Transitions are used to improved flow.(10%)
Does Not Meet Expectations
Paper is organized in a logical or coherent manner but not both.
Approaches Expectations
Paper is generally organized in a logical and coherent manner;
transitions, however, are awkward.
Meets Expectations
Paper is generally organized in a logical and coherent manner;
transitions for the most part are smooth.
Exceeds Expectations
Paper is fully organized in a logical and coherent manner;
transitions are smooth and flow seamlessly from one point to
the next.
6 Valid research is used to appropriately support the content.
References to sources are used when required.(10%)
Does Not Meet Expectations
Valid research is not used to support content; references to
sources are not used when required.
Approaches Expectations
Valid research is generally used to support content; references
to sources are minimally used when required.
Meets Expectations
Valid research is properly used to support content; cited at least
two references.
Exceeds Expectations
Valid research is properly used to support content; cited more
than two references.
7 The author uses correct grammar and spelling. Format and
citations are consistent with APA rules.(10%)
Does Not Meet Expectations
Multiple errors in grammar and spelling; some format and
citations are not consistent with APA rules
Approaches Expectations
Several errors in grammar and spelling; some format and
citations consistent with APA rules.
Meets Expectations
Few errors in grammar and spelling; most format and citations
consistent with APA rules.
Exceeds Expectations
No errors in grammar and spelling; all format and citations
consistent with APA rules.

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  • 1. 1 4 Career Connection: Values and Strategy Paper Career Connection: Values and Strategy Paper In this report, you will read about a potential start-up company that will potentially move from idea stage to a physical stage in the future. The start-up is of fast food origin and has the potential to be something great. Over the course of six weeks, these reports will look in debt to this potential start-up venture while highlighting along the way some of the process to consider, strategies to take while understanding what challenges may arise. The idea of this report is to make sure that the right decisions are made while minimizing any mistakes that can occur. In addressing these concerns, this report will review the major components of the strategic management process and how those components work together in value creation for the organization. This report will review the company’s mission and vision statements/ motivation, innovation, and people strategy. Lastly this report will describe the role for ethics and corporate social responsibility in the strategic planning process. As an entrepreneur, starting this fast food business begins with putting together a process that lays the foundation for creating
  • 2. an idea into reality. Such a process starts from the strategic management plan. The term strategic management plan according to (Hitt, Ireland & Hoskisson) states, “is the full set of commitment, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns” (2015). This is a repeated process that reviews the company and industry in which the company is occupied in. When strategy management reviews a competitor, it’s looking to strategize the current goals to meet the future goals against competitor’s and then reassess the strategy over time. For an individual or a group that is striving for success, it can reduce the possibility for a downfall for a company as it will meet the environment of the most recent competitive landscape. The major components for strategic management process focus on environmental analysis, the formulation of strategy, the implementation of the strategy, and evaluation of the strategy. The major components for strategy management plan (environmental analysis, the formulation of strategy, the implementation of the strategy, and evaluation of the strategy) provides an framework for an existing business or a new start- up, each component is critical in the strategic plan that a business puts forth. For instance, environmental analysis is a process for the collection, for scrutinizing as-well-as presenting data for strategizing intentions. It helps with evaluating an internal and external circumstances that effects a company. Once the environmental scanning has been executed, the company’s management team will be able to evaluate the analysis on a continuous basis and strive to make improvements as needed. Formulation of strategy is a measure in the decision on the best path a company should take in accomplishing the organizations objectives thus achieving the purpose of the organization. After carrying out the environment analysis, the management team will put together a strategy for the company to follow. Implementation of the strategy is a measure that entails building a company’s strategy to perform as envisioned or committing
  • 3. the picked strategy into motion. This strategy involves forming the structure of the company’s, the distribution of supplies, the development for a administrative process, which includes human resource managing. Evaluation strategy is the last procedure for the strategy management plan. This strategy contains the opinion for internal factors as well as external factors for the source of current strategy or corrective actions to be taken forward. This measure ensures that a company plan has execution, are meeting company objectives. Each of the elements are progressions that handle things sequential order, in developing a new management strategy plan. Current companies whom already have a strategy plan in place, typically go back to these measures depending on the situation requirement, in making any or all necessary changes to the plan. “Without a strategy, an organization is like a ship without a rudder, going around in circles”. (Joel Ross and Michael Kami) A company can have employees, plenty resources and energy, but if it lacks a clear and captivating vision of where it will head, then it certainly struggles. Procedures for company strategies are designed to avoid such a situation, and to help manage a company to move efficiently toward their goals. Thus, is the case for the start-up fast food restaurant. The vision statement is focused on being the best within its industry for taste, quality, and customer satisfaction. Often these are some of the basic components that can drive a restaurant business into the ground. Customers want to feel that the restaurant is providing authentic food whether it’s a fast food chain or not. If the company isn’t meeting the needs of the consumer, then chances are they will fail. The role of ethics and corporate social responsibility in strategic planning for a start-up business is key. They (ethics and corporate social responsibility) involve learning the right and wrong in business, but making sure that as the manager of the business, they are doing the right thing. The fast food company within its vision, is aligned to that of the owner. In
  • 4. starting a business, the owner of the company is responsible for making sure all regulations are met, that all certifications have been obtained, that every inch of the property, is safe for customers in every way. The owner must manage ethics within the workplace amongst staff, develop a code of ethics, and develop a code of conduct. This provides a foundation for employee’s and management to understand what is right and wrong in the workplace and how to conduct themselves. In closing, the purpose of this report was to discuss several key items for a potential start-up company that will potentially move from idea stage to a physical stage in the future. This report reviewed the major components of the strategic management process which are Environmental Scanning, Strategy Formulation, Strategy Implementation, Strategy Evaluation and understand that these components work together as they do because it (strategic management process) is an ongoing process that is continually reevaluated an updated as needed. This report also reviewed the company’s mission and vision statements/ motivation, innovation, and people strategy. Since this is a new start-up company, the focus was on the vision that the fast food restaurant has while indicating that such basic principles can make or break a business. Lastly this report described what steps the manager must take in the role for ethics and corporate social responsibility in the strategic planning process. Reference Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2015). Strategic management: Competitiveness and globalization (11th ed). Stamford, CT: Cengage 1
  • 5. 4 Strategic Plan Part 1: Environmental Scanning Strategic Plan Part 1: Environmental Scanning The owner is continuing to put together the research needed to open his new restaurant named aNachos in the heart of Chicago, IL. As discussed in the previous report, this start-up venture will highlight many processes to consider, strategies to take while understanding what challenges the owner may face along the way. In seeing the potential for this restaurant to grow, the owner must conduct an environmental scan of his business. The purpose of an environmental scan is to business owners, managers, and leads to decide the future path that an organization should take. In conducting this analysis, the following information will be considered: Determine how to create value and sustain competitive advantage using the environmental scanning strategy, evaluate a company’s external environment, assess the company’s general environment, and evaluate the organization’s industry operating environment. Environmental Scan Strategy To create value and sustain competitive advantage aNachos will use environmental scanning to research new market opportunities, review trends in current markets and analyze product sales in all markets. When a company like aNachos wants to create value a competitive advantage, the company must establish brand loyalty with its customers. It builds a trust with the customer that the company is providing them with
  • 6. quality of product or service. Another way is to use incentives with customers such as discounts for birthday’s or price reduction due to a sporting event or purchase of party size order. For the company to sustain its competitive advantage, it will utilize the feedback and recommendations from customers in designing and developing menus and food selections that meet the needs of all patrons. The company will locate an area with few competitors that serve similar food to minimize customers from choosing between competitors. This company will also select a highly visible location that has a large consumer base nearby. Highly visible locations include areas near schools, downtown areas, places where people hangout on weekends and off days. Once the location has been selected, analyze any local competition. Other restaurants are competition, but this is more geared towards grocery stores or convenience stores that may also sell prepared food to consumers. Next, identify the competitor’s strengths such as grocery stores that offer ready to eat meals for customers while they shop. While reviewing the strengths, also review the competitor’s weakness. For instance, as stated in the previous example, if the competitor offers ready to eat meals, are the meals stale from sitting out for long periods. External Environment “A firm’s external environment consists of all the conditions and forces that affect its strategic options and define its competitive situation and must begin with the development or reevaluation of a company’s mission” (Pearce & Robinson, 2009). aNachos must understand how the external environment will affect the strategy for his start-up business. “There are several aspects of external environment; economic, political/legal, technological, and sociocultural” (Hitt, Ireland, & Hoskisson, 2015). The economic impact for aNachos is challenged by an industry that pays employee’s a lower wage. The fast food industry has a higher turnover ratio because of lower wages. To offset the lower wage, companies will provide benefits to help retain workers. Such benefits include paid
  • 7. vacation, insurance (medical and dental), and education funding. The legal impact for the company may be a penalty if calories are not listed on the menu. It may alter the plans for the business if customers are no longer interested in an item as it will lose appeal due to the number of calories it contains. The technological impact in today’s fast paced market indicates that consumers want to make purchases quick and obtain the purchases quick. Various websites, and apps allow customers to make a purchase from their phone or computer and have their purchase delivered. The sociocultural impact is the current attitude of consumers that are driven by campaigns of healthy eating and food safety concerns. General Environment The industry environment looks at the conditions that affect the people in a specific industrial market that cannot be influenced by marketing. The specific environment is make up of many factors to considered. A company has the ability to monitor the needs of consumers through determining problems noticed by the consumer or anticipating them before they happen. aNachos will have to pay attention to competitors that are well-known, because all levels of management frequently underestimate the competitors or have a poor job in recognizing potential contender. The buyers along with the suppliers depend on one another, and that dependency may lead to unprincipled actions. Such actions where the two obtain benefits at the expense of one another. Businesses are affected by regulatory agencies as they create the rules as well as enforce them. Advocacy groups do not have the regulatory power to change the practices of a business. What they can do is advocate their concerns for changing business practice by informing consumers through the media and boycotts, as a way of convincing company to change its practice. Industry Operating Environment aNachos as a company that will prepare food, is similar to many of the constant elements that involve retail businesses. A direct strategy such as opening new doors is typically a leading way
  • 8. for a business to generate revenue in the beginning stage. When a business is analyzing other restaurants, using comparable store sales, is a beneficial metric to use. What makes comparable so important is once the business gets to the stage of maturity, it becomes the leading driver for growth. Additional products and rises in menu-price, are the main ways to boost store sales. The cost of food is plainly a line item of great importance that at times may fluctuate as a result of price changes by suppliers. Another cost to factor in for the restaurant industry is labor. Constant changes into state or federal law can have an impact minimum-wage which can have an affect towards the costs and margins to a restaurant's. In conclusion, this report focused on the potential for aNachos to grow. The owner had to conduct an environmental scan for his business. The purpose of an environmental scan is to help business owners, managers, and leads to decide the future path that their organization should take. In conducting the analysis, the following information was considered: Determine how to create value and sustain competitive advantage using the environmental scanning strategy, evaluate a company’s external environment, assess the company’s general environment, and evaluate the organization’s industry operating environment. Reference Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic
  • 9. Management: Competitiveness & Globalization: Concepts and Cases (11th ed.). Stamford, CT: Cengage Learning. Pearce, J. A., & Robinson, R. B. 2009. Strategic Management. Formulation, Implementation, and Control. (11th ed.). McGraw- Hill Companies, Inc. 1 6 Strategic Plan Part 2: Internal Environmental Analysis Strategic Plan Part 2: Internal Environmental Analysis In this report, the company of aNachos is continuing its strategic plan and focusing on the internal environment. The company will focus on the following sections: Assessing the organizations internal environment, it will identify the most important strengths and weaknesses of the company including an assessment of the company’s resources, it will identify the most important internal environmental factors, perform a competitor analysis, assess the structure of the organization and the influence this has on its performance and lastly determine the competitive position and the possibilities this provide for the company. The term internal environment is described as the circumstances, systems, measures, and determinants within a
  • 10. company that shape the activities and distinction, particularly the demeanor of the employees. Determinants that are many times considered part of this environment include the company mission statement, style of leadership, and the culture in the company. The mission statement should embody the things that the company will do and won’t do. The mission statement sets the expectations from management on down on what is required by each employee during their time with a company. The style of leadership helps set the tone for employees to follow. One example of a leadership style is authoritative which sets in motion how the team will come together on a shared vision and central point on the goals, leaving the ways forward to each employee. Another example of a leadership style is an instructing leader which builds up their employees for the imminent opportunities ahead. The culture in the company consists of core values and behaviors that employees share and utilize daily. Such values and behaviors are showing respect to each other and the customers they serve. Providing teamwork in every capacity, developing learning opportunities for potential advancement and making sure each employee is aware of the goals that are being set through employee engagement. Identify the most important strengths and weaknesses of your organization including an assessment of the organization's resources. In identifying the most important strengths and weaknesses my aNachos, one most first understand what defines strengths and weaknesses. The term strength is best described as the qualities that enable everyone involved with the company to accomplish the company’s mission. The term weakness is best described as a quality that prevents the company from accomplishing the mission and not achieving it full potential. For aNachos to gain success in the restaurant industry, the company must consider the most important internal environmental factors. Such factors include competition, compensation, legislation and employee relations. The competition in any given industry will have an effect on a company’s ability to recruit qualifying staff. For organization
  • 11. that have hundreds to thousands of employees, candidates tend to seek out the organization. A smaller new company such as aNachos that does not have the same branding power as a bigger well-established restaurant, will have to send money advertising to gain recruits. The second important internal environmental factor is compensation. The cost of labor for a small business must be attractive enough in the recruitment of employees. In an oversaturated market such as the one currently, with a relatively high unemployment rate and their being many more candidates qualified than actual opportunities for employment available, the amount in compensation by aNachos must provide is less than when there is a shortage of candidates in existence and a company having to compete with other companies to recruit employees. The third important internal environmental factor is Legislation. Whither it’s the state or federal levels of government, companies are impacted by the legal decisions made by elected officials. For instance, regulation laws are principles that can influence a company can function during certain cases. For example, environmental regulations, building code laws as well as what types a license a business needs to have to operate. Labor laws are another form of regulation that pertains directly to how a company treats their employees. Such regulations include, minimum pay standards, pay garnishment and worker protection guidelines. There are also tax regulations in which a company must provide a summary of its monetary standing to the government and reporting regulations that have oversight on how a company summaries its capital to the government and shareholders The last important internal environmental factor is employee relations. The internal procedures and policies also can impact a company. Whither it’s the hiring of new employees or promoting current employees, the manager must ensure that the employee is receiving appropriate training and development for any role they will play for the company. If the company
  • 12. provides benefits such as education assistance, the company must outline what those conditions are and ensure that employees and meet the criteria needed. Should aNachos have a union based work force, the manager/owner will have to engage in collective bargaining with the union on matters of representation. According to (Hitt, Ireland & Hoskisson 2015), the term competitor analysis is described as, “How companies gather and interpret information about their competitors”. An assessment of the competitor analysis, allows a company to focus on those companies with which it will be in continuous competition with, and it is especially important when a company fronts fewer possible competitors. An area of focus for aNachos will be: To examine the market, to formulate strategy, and to create strategy for business expansion. In examining the market, this entails determining if there is an opportunity within a specific market. For instance, if aNachos can factor the market share or even the percent of industry sale totals that each competitor would have or conducting specific research on the target base (that being customers) will determine the size of the market within that location. To formulate strategy as a new start-up, aNachos can consider reviewing the setting of the company’s objectives, have an evaluation of the company’s environment, setting measured targets and continue to aim for reaching overall company goals, both short and long term. To develop a strategy for business growth, aNachos will have to begin by using market penetration by selling more types of nachos to its current customer base. Then utilizing market development and developing other ways to sell the nachos to markets like the industry. This can be opening new restaurants in different locations. Another method can be using alternative channels. Instead of customers coming to the restaurant to purchase their food, ordering online or through an app and the food being delivered to them. Assess the structure of the organization and the influence this has on its performance. A promise that arises for startup
  • 13. companies is understanding how to develop an organization structure, or how a company defines roles, teams, and supervision. For a startup such as aNachos, it is important to plan for it as the company will expect to grow. As a small business, the types of organizational structures that aNachos should consider are functional, divisional, or matrix. The first is functional which a company builds a scale based system on the position for each employee. Functional is a structure putting together employees that will work toward a shared goal. The second is divisional which disperse the functional structure because the duties of the employees are separated by product or region, rather than function, with a company. The last is matrix which integrates the characteristics of both functional and divisional. The matrix structure works just like a team. Instead of division heads, each area has a leader. The matrix brings a combination of employees who center around a project, but fill other types of duties, across the company. The matrix structure is the most dispersed, which indicates it can distract employees about who is in charge. A company’s framework can influence the performance by setting company goals and having regular performance reviews. “The findings reinforce the position of structure on performance, and organizational structure directly affects the organizational learning and innovation. Organizational learning has an effect on performance through innovation and depends on the firms and industrial character” (Qingmin Hao, Helmut Kasper, Juergen Muehlbacher,2012). Establishing the goals for a company gives all levels of management and their staff a specific area of focus to strive for during the fiscal year. It builds cooperation amongst employees in seeing the company be successful which benefits everyone involved with the company. To determine the company’s competitive position, an assessment must be taken to see what will allow the company to stand out and ahead of all other competitors in the market. Such as assessment would consider various ways of adding value. Such ways aNachos must consider are offering better prices and
  • 14. the type of service it will provide when compared to its competitors. Another method is creating industry benchmarks that will indicate what your spending is in comparison to the company’s competitors. For example, if the industry spends on average around 30 percent of sales on payroll, aNachos can make a comparison to see where the company stands in comparison to everyone else. Making an assessment to the value chain can indicate areas of the business such as supplier, hours, employees or store are areas that need improvement and take the necessary measures to strengthen the company. In closing, this report provided the second phase for the company of aNachos’s strategic plan and focusing on the internal environment. The company focused on the following sections: Assessing the organizations internal environment, identifying the most important strengths and weaknesses of the company including an assessment of the company’s resources. It identified the most important internal environmental factors, performed a competitor analysis, assessed the structure of the company and the influences this has on its performance and lastly determined the competitive position and the possibilities this will provide the company.
  • 15. Reference Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic Management: Competitiveness & Globalization: Concepts and Cases (11th ed.). Stamford, CT: Cengage Learning. Qingmin Hao, Helmut Kasper, Juergen Muehlbacher, (2012) "How does organizational structure influence performance through learning and innovation in Austria and China", Chinese Management Studies, Vol. 6 Issue: 1, pp.36-52, https://doi.org/10.1108/17506141211213717 1 3 Strategic Plan, Part 3: Strategic Evaluation and Recommendation
  • 16. Strategic Plan, Part 3: Strategic Evaluation and Recommendation In part three of this report, we will evaluate many strategies and make recommendations for aNachos to consider. The evaluation will consist of multiple items such as, evaluating the potential business level strategies for the company. Next, we will assess potential corporate level strategies for the company. From there we will assess potential global strategies for the company, Lastly, we will provide our recommendation of a strategy or a combination of multiple strategies for aNachos to implement, and include a rationale for that recommendation. To evaluate the potential business-level strategies for aNachos to consider, one must first understand the term. According to Strategic Management: Competitiveness & Globalization: Concepts & Cases “A business-level strategy is an integrated and coordinated set of commitments and actions the firm uses to gain a competitive advantage by exploiting core competencies in specific product markets” (Hitt, Ireland & Hoskisson, 2015). The strategy of business-level is made up of five types (cost leadership, differentiation, focused cost leadership, focused differentiation and integrated cost leadership/differentiation). Cost leadership is described as a series of movements that a company will take when producing goods or services, that usages is acceptable to consumers for a lower cost, in comparison to a company’s competitors. Differentiation is a series of actions that a company will take when producing goods or services, by which the consumer sees it as specific to ways significant to them. Focused cost leadership is an action taken by a company in contending based on price to aim at for a narrow market. Focused differentiation which is an action taken by a company proposing a unique feature that will fulfill consumer demands in a narrow market. Integrated cost leadership/differentiation states that a mixture of captivating consumers in primary value chain activities and support objectives that favor pursuing lower prices and differentiation at the same time. The aNachos strategy will gain success by
  • 17. giving customers the combination of excellence and intriguing styles of nachos within an environment that will appeal to a wide and varying group of people. aNachos will have a competitive edge in its menu pricing. The competitive edge includes, student discount pricing of 5 to 10% off with student ID, lunch-time discounts for companies within a five-mile radius of 5 to 10% off and special pricing for events or parties with 50 or more customers up to 15% off. With fewer than five immediate restaurants near the location for Alston Nacho, the focused cost leadership approach will give this company a competitive advantage. In evaluating the corporate level strategies for aNachos to consider, the term is defined as, “specifies actions a firm taken to gain a competitive advantage by selecting and managing a group of different businesses competing in different product markets” (Hitt, Ireland & Hoskisson, 2015). Corporate level strategy is mainly troubled by the strategic decisions a business makes that affect the entire organization and using diversification to help reach those goals. The two types of corporate level strategies under consideration for aNachos are (single business and dominant business). A business that is single in form of corporate level strategy where a company makes 95% or greater of selling for a profit from its main business. A dominant business is a form of corporate level strategy where a company generates 70 and 95% gross revenue within the single business area. The main reason a company utilizes the corporate level strategy is to have growth in revenue and profits. Another area to consider for growth using the corporate level strategy can be market development through a company entering a different geographic market. This strategy level while using the single business model, indicates that aNachos is solely focused on one industry, the fast food industry, and growing and developing a distinctive brand from all others. To assess the global strategies for Alston Nacho to consider, the term is defined as, “A global strategy is an international
  • 18. strategy in which a firm’s home office determines the strategies business units are to use in each country or region.” (Hitt, Ireland & Hoskisson, 2015). When a company engages in a global strategy, there are multiple perspectives to consider. The first one is from the company which thinks about how expanding will provide the company with new sales and profits. For some companies, expanding may put the company into a better situation to generate profits if its original home market had only poor profits. From the consumer view, it will lead to prices being lower for products and services, as a result of economies of scale and scope that will take into account the larger global base. From an international government perspective, it removes barriers to trading around the world at the same time, providing protection to other industries in different countries. Each country has difference in cultures as well as preferences, but if a product or service that may sell extremely well in one country, may not sell as well in another country. aNachos utilizing the global strategy for expanding into international territory as a well-positioned brand would not be difficult. The key factors that aNachos should consider in expansion are people in other countries interested in different styles of nachos? Will the company have access to the kinds of ingredients it will need? If not, what would be the cost to obtain those ingredients to that market? In recommending a strategy or combination of strategies for aNachos to consider implementing, it’s best to use a combination of the business level strategy (Focused cost leadership) and the corporate level strategy (Single business). After reviewing what defines both terms and understanding how a business can utilize both, a new startup company such as aNachos would benefit greatly from both. The business level strategy will focus on centering itself on developing a position against its competitors and remaining updated on market trends and changes in technology. As most of its menu options are priced between 6 and $15, it meets the pricing of most of the restaurant in Hyde Park a neighborhood of Chicago. This will
  • 19. give aNachos an advantage of narrowing the market to compete for those customers. The corporate level strategy will give aNachos a single focus to work towards. Since the company is not looking to diversify into other ventures, it will look at what strategy will help the company achieve the strategic direction it seeks in accomplishing its long-term goals. This can include deciding which items to list on the menu as well as the potential market to compete in. It may define the geographic boundaries for aNachos operations. The corporate level strategy will help the company set aside money, staffing, and various other resources. This strategy may also guide the decisions about adding a new location in the near future or even whether to compete with another company or partner with another entity that will benefit all companies involved. The strategies of business level and corporate level focus on an overall performance for the company which is what this new company will need. In conclusion, this report evaluated many strategies and made recommendations for aNachos to consider. The evaluation consisted of multiple items such as, evaluating the potential business level strategies for the company (aNachos), assessing potential corporate level strategies for the company, and assessing the potential global strategies for the company. Through the recommendations provided, aNachos will use a combination of the business level strategy and corporate level strategy. These strategies best fit the company as it looks to become successful in the short term and in the long terms a new company.
  • 20. Reference Hitt, M.A., Ireland, R.D., and Hoskisson, R.E (2015) Strategic Management: Competitiveness & Globalization: Concepts & Cases, Eleventh Edition, Cengage Learning. 1 Implementation Plan(20%) Does Not Meet Expectations Did not create an implementation plan. Approaches Expectations Created an implementation plan that included some, but not all of the required elements of the plan. Meets Expectations Created an implementation plan that included all of the required elements of the plan. Exceeds Expectations Created an implementation plan that included a creative and in- depth discussion of all of the required elements of the plan. 2 Change Management(15%) Does Not Meet Expectations Did not recommend organizational change management strategies that may enhance successful implementation. Approaches Expectations Analyzed organizational change management strategies that may enhance successful implementation.
  • 21. Meets Expectations Recommended organizational change management strategies that may enhance successful implementation. Exceeds Expectations Created organizational change plan to address any organizational change management strategies that may enhance successful implementation. 3Strategic Control(20%) Does Not Meet Expectations Did not develop key success factors, budget, and forecasted financials, including a break-even chart. Approaches Expectations Developed key success factors, budget, and forecasted financials, including a break-even chart that addressed or covered part of the implementation plan. Meets Expectations Developed key success factors, budget, and forecasted financials, including a break-even chart. Exceeds Expectations Developed, from a unique and creative perspective, key success factors, budget, and forecasted financials, including a break- even chart. 4Risk Management(15%) Does Not Meet Expectations Did not create a risk management plan including contingency plans for the identified risks. Approaches Expectations Created a risk management plan including contingency plans for the identified risks which addressed part but not all of the contingency plans and risks. Meets Expectations
  • 22. Created a risk management plan including contingency plans for the identified risks. Exceeds Expectations Created a unique and creative risk management plan including contingency plans for the identified risks. 5 The paper is organized in a logical and coherent manner. Transitions are used to improved flow.(10%) Does Not Meet Expectations Paper is organized in a logical or coherent manner but not both. Approaches Expectations Paper is generally organized in a logical and coherent manner; transitions, however, are awkward. Meets Expectations Paper is generally organized in a logical and coherent manner; transitions for the most part are smooth. Exceeds Expectations Paper is fully organized in a logical and coherent manner; transitions are smooth and flow seamlessly from one point to the next. 6 Valid research is used to appropriately support the content. References to sources are used when required.(10%) Does Not Meet Expectations Valid research is not used to support content; references to sources are not used when required. Approaches Expectations Valid research is generally used to support content; references to sources are minimally used when required. Meets Expectations Valid research is properly used to support content; cited at least two references. Exceeds Expectations Valid research is properly used to support content; cited more than two references. 7 The author uses correct grammar and spelling. Format and
  • 23. citations are consistent with APA rules.(10%) Does Not Meet Expectations Multiple errors in grammar and spelling; some format and citations are not consistent with APA rules Approaches Expectations Several errors in grammar and spelling; some format and citations consistent with APA rules. Meets Expectations Few errors in grammar and spelling; most format and citations consistent with APA rules. Exceeds Expectations No errors in grammar and spelling; all format and citations consistent with APA rules.