Conceptualizing a Business Free Essays

Introduction This paper will give the mission and vision statements of the Dog and Man. This is a part of strategic planning. Strategic management is defined as the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives (Pearce Robinson, 2009). We will write a custom essay sample on Conceptualizing a Business or any similar topic only for you Order Now Whether a firm is developing a new business or reformulating direction for an ongoing business, it must determine the basic goals and philosophies that will shape its strategic posture (Pearce Robinson, 2009). Before finalizing the list of strategic issues, perform what is called a litmus test to confirm that the strategic issues identified are truly strategic (Fire Engineering, p85). This paper will define the guiding principles and give an overview of how the mission and vision statement work together with the values and objectives of the company. Mission Statement The purpose of a mission statement for a business is to endorse the meanings of the company by articulating the objectives of the business that corresponds with the product or service offered in the market place and the ultimate characteristics of the company that distinguishes the company from the competition. The Dog and Man Club is a place that will provide a clean fun and a safe environment for dogs and their owners to socialize with other dogs and owners. This club will have activities all family members that cater to the pet with keeping the family in mind. Vision Statement The vision statement of a business describes the business’s goals for the company for expansion and the prospects of the business supplying workers and consumers the things that the business is determined to accomplish. Vision statements should be created for different levels of the department (Fire Engineering, p85). The Dog and Man Club will provide services for both the pet and its owner. The pets will have a full grooming service available. The owners socialize with other owners over refreshments or book play dates for their pooch. This facility will have area designated for just the dog, dog and owner and an owner’s lounge. The lounge will cater to the complete family so that the grooming experience will be enjoyable for both pet and owner. Guiding Principles The guiding principles are viewpoints that direct a business throughout its existence in all situations, despite of alterations in its objectives, plans, and products or services. These principles define how the business will operate. This company believes that the pets and the owners should be treated like family while at the Dog and Man. A safe and healthy environment helps owners and pets to interact with others in the facility. We recognize that owners view their pets as family and this company will provide the same atmosphere for all customers. Guiding Principle #1: This is a family oriented business. Guiding Principle #2: All customers will be treated with respect. Guiding Principle #3: Conduct ourselves in a professional and ethical manner. Guiding Principle #4: Believe that the combined efforts accomplished through mutual endeavors are significant to our success. The composition of the mission and vision statement combined with the values and objectives supply the groundwork for characterizing and executing the strategic plans. These core statements give direction for a company’s strategic plan. It is imperative the statements are expressed to staff and clients to keep them informed about the business’s purpose. Communicating these statements comprise of assessment and plan development at all stages in the business. Mission Statement The mission statement of a company expresses its motivation for being in business. The mission statement entails classifying and stating what type of business a company will enter. This incorporates a study of buyer requirements and purchaser observations. A mission statement is broad and supposes to continue for an extended period of time. The statement should be short and concise. It should state the social and or political requirements that are needed to exist to meet, and identify what we do to recognize, foresee, and react to those needs. Vision The vision statement is a short affirmation of where the business wants to be in the future. The vision statement gives a picture of the business as it can be. It should be determined and well expressed. Values Values are the basic beliefs that compel company behavior and decision creation. Values demonstrate key areas to be satisfied. Most values imply how people and businesses should act in the market place. For example, a company should act with veracity, be ethical, and have respect for employee and customer. Prior to devising the values, a company should start a values review. This would include an assessment of the company’s present values. As a component of this audit, the internal and external consumer needs should be scanned, supplier prerequisites, and workforce capabilities used to supply those requirements. This scanning should take into takes into consideration any outside forces that would have an impact on the business. Objectives Objectives determine the path for the business’s process. It is the detailed quantifiable conclusion to be achieved in the detailed time boundaries. The objectives include precisely defining how the strategic objectives will be achieved, making a decision who will accomplish what and by what time, and identifying how the business will recognize who has completed what and when. When defining an organization one should maintain a clear image of the end product. An unclear image of your business can have a negative result the expectations of a company. This can limit and even hinder its growth. The mission, vision and values declarations describe the purpose and direction of the business. These statements are essential to strategic planning. This will assist the business in advancing. This will hinder and possibly eliminate certain problems due the plan of action being precise and the objective is clear. Consideration for the consumers, as an alternative of the focal point being the market place, shows that the business understands the requirements of the consumers. This will result in creating a place that a person would want to patronage. These statements produce a significant manifestation that goes further than reports and advertisements. It guarantees that business objectives are supported by the statements. This gives insight on how the business will start, the direction it want to go, and the future goals it plans to accomplish. Conclusion Conceptualizing a business begins with a plan. There are certain aspects that are important in the phase. The first is the mission and vision statements. This is the blueprint for the foundation of a company. These conceptual plans can assist a company to begin the preliminary groundwork of the business. If the plans are executed properly, this will enable the business to succeed. It will acquire time to position all the key elements. Defining the mission, vision and values statements is important to conceptualizing a business. This is the foundation for a business to succeed. How to cite Conceptualizing a Business, Papers Conceptualizing a Business Free Essays Strategic Plan, Part 1: Conceptualizing a Business Atonio Latu BUS / 475 February 10th, 2013 Sarita Wesley, Ph. D. Strategic Plan, Part 1: Conceptualizing a Business Starting a company such as TL Concrete Service requires strategic plans and the factors that will support the business development start-up stages. We will write a custom essay sample on Conceptualizing a Business or any similar topic only for you Order Now TL Concrete is a small company with five employees planning and implementing services. The company provides services on concrete drive ways, patio, and side-walks. The company offers free estimate, low cost, and 5 years guarantee on every job. It is vital for the company to seek and develop the right mission, vision, and values. These important factors will act as a road map to guide and maintain the company’s goals; customers’ satisfaction and profitability. TL Concrete mission statement will define the company’s goals. A good vision statement provides direction and purpose for the company to follow through. Core value identifies the importance of the employees and their behavior toward the company’s goals. Concrete service is a good business because people always need hard driveway surface, smooth walk way outside the house, and a patio for the outdoor activities. The company will estimate, form the foundation or the platform, pour the concrete, and remove dirt and trash afterward. It will cost more to install new surface than to replace the existing one. One of the advantages of this type of service is that concrete is pre-mix or ready mix by another service provider. The same service provider that ‘ready mix’ the cements also deliver and pour the concrete at the requested site. The cost of the cement is including in the estimate. TL Concrete future endeavor is to provide services for commercial buildings and commercial complexes. Another future plan for this company is to obtain public contract on major projects. The company’s strength relies on the experience of the employees to provide services, but also the experience of the company to conduct business. Strong relations between the company and its customers will guarantee to maintain loyal customers. The company will adjust and adapt to any future internal and external factors that will affect the company. For example, most customers are using regular cement on their driveways and walkways. Now, people are starting to use the stamping driveway which cost twice as much as the standard type. TL Concrete will provide data to those who needs surfaces because everyone else is switching to the new format. It is the company obligation to explain and provide data and explain the benefit and the disadvantage of the new products. We consider our mission statement a promise to our customers, and deliver on that promise (Bill Gates, 2013). A powerful mission statement will keep the company focus on its goal regardless of any changes occur within the business. TL Concrete Service mission statement should read,† We provide customers with the best quality concrete service at low prices since 1990†. The company ensures that these words are not created to decorate the wall plaque; these words are to get across the purpose and the objective of the company. The mission statement identify the most important idea behind the company; best quality service. The year 1990 indicated that customers trusted this company and keep it operational for these years despite the economy downturn. There were many successful concrete company operated prior to 2008, the downfall of our economy. Customers were looking for the companies that provide the best concrete service, money was no object. Customers were paying more that the regular rate to attract better services. The post 2008 changed how companies approached their customers, and how loyal customers approached these companies. Companies filed for bankruptcy and the cements manufactures raised the price of the pure cement which in turn increases the price of the concrete. A mission statement will keep TL Concrete Service to focus on generating profits and customers’ satisfaction. The vision statement is also vital to the strategy plan of the company. It reveled to the loyal customers and the potential customers the purpose and the tools used to accomplish the company tasks. I enjoy reading the Allstate Insurance because it is short and brings out the purpose of this company. Allstate vision statement reads: â€Å"to reinvent protection and retirement for the consumer† (Bright Hub, 2010). TL concrete should provide a vision statement that indicates the same purpose as the Allstate Insurance, to guarantee how the employees understand the individual tasks as well as the team work. TL Concrete vision statement should read: â€Å"To serve our loyal customers and potential customers’ thorough honesty and respect for anyone we provide service to†. The vision statement indicates the importance of the customers and strive the company to stay focus and the purpose; customers’ satisfaction. The company’s vision also generates the company values because customers deserve respect and honesty for the company. The company should have the value of doing the right thing because it is the right thing to do. This attitude generates moral value, ethical standard, and integrity. These are the basic foundation of the code of values created by TL Concrete. Moral values consist of trustworthy, loyal, and courteous. Ethical standard is doing the right thing to provide the best service available to the company and the customers. Honesty is the best policy, and integrity keeps the employees focus on the values indicated by the company. These values will earn the company’s reputation and in turn, attract more customers. The company should value the customers’ feedback and their suggestions of not only what needs to be done, but how to proceed with the work. Mission statement, vision statement and values are three important models that most successful companies accepted. These models create concepts of prospect, directions, values, and opportunities for the company and its customers. These models of strategic plan co-exists, one item cannot exist without the others. I believe there are companies that do not have vision statement. Kevin Clancy, a marketing researcher wrote, â€Å"A few people around the table began to describe the brand’s global positioning strategy, but it had nothing to do with what we would call a vision. It was not even much of a positioning. Eventually a manager from England asked, â€Å"What do you mean by ‘vision’? †(Clancy, 2012). A vision statement brings hope, dreams, and the reason to stay operational. Mission, Vision, and value each presented different meaning to the company’s goals. Mission is the goal, vision is the purpose, and value is what takes to accomplish the goals. References Bright Hub. (12/2010). The hub for the bright minds. Retrieved from http://www. brighthub. com Kevin J. Clancy. (2012). Shocking Truth of the Month. Retrieved from http://www. thekevinclancy. com Microsoft Accessibility. (2013). Mission. Retrieved from http://www. microsoft. com/enable/microsoft/mission. aspx How to cite Conceptualizing a Business, Essay examples