Conceptualizing a Business
Conceptualizing a Business
Strategic planning for the purpose of developing a business is vital. In my opinion, a strong vision, mission, and values make up the foundation that is required to build a successful business. This paper will introduce the business selected in week two and will explain the importance of the selected business’s vision, mission, and values as they correspond in determining a strategic direction. The created vision for this organization will clearly demonstrate the future plans for the business. The guiding principles or values for the selected business considering the topics of culture, social responsibility, and ethics will be defined.
Next, an analytical overview of how the vision, mission, and values guide the organization’s strategic direction will be discussed. Finally, an evaluation of how the organization addresses customer needs and critiques how the business achieves competitive advantage will be performed. When selecting a business these planning processes are important and will help define what direction the business is going in for success. The first objective in strategically planning a business is to have a vision.
As stated by BusinessDictionary. om, a Vision Statement is: “An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action. ” The vision for the company is to be like Wal-Mart, a one-stop shop. I envision the hair salon to become a unisex salon, spa, and barber shop. The vision is for a person to come in and get his or her hair, nails and skin care, while having the option to purchase professional hair and beauty products at a fair and reasonable price.
The vision is to incorporate a boutique where not only can people get pampered but can also buy a nice outfit to complete their look. The motto is, “We keep you neat from your head to your feet,” and therefore incorporating a boutique will confirm the motto of the business. The vision is to incorporate services that will stand out only in said selected salon and to provide professional caregivers and products to make customers feel as if they are on top of the world relaxing in a cloud of comfort ability. The business selected is a professional hair salon.
When considering starting a business, one should ask themselves, “What is the mission for my business? ” The mission of a company is the unique purpose that sets it apart from other companies of its type and identifies the scope of its operations (Pearce, & Robinson, 2009). The mission for the selected hair salon is to supply products and services to customers with exceptional customer service. To create a pleasurable environment with high-level professionals, for desired hair and body care results. Our Motto is, “We keep you neat from your head to your feet.
The chosen business strives to use high quality products with passion and courtesy to all clients. The name for the hair salon will be, “The Malveaux Hair Experience. ” The Malveaux Hair Experience needs guiding principles or values considering the topics of culture, social responsibility, and ethics. It is the responsibility of the salon owner to ensure that all personnel are adequately trained, licensed, and understands each service offered (Fulbright, 2004). It is the salon owner responsibility to be aware of the liabilities of the salon, licensed personnel, clean environment, and clean equipment.
The social responsibility of a salon is pondering hair trend, marketing, and clients. The salon should be run with individual morals and values as well as the values of the business. In a salon setting, the professionals must have respect for one another. There has to be a strong trust factor with each other personal items and salon products. The salon has personnel has to consist of a group of team players. Although stylist has their own style of artistry, they must all be on the same professional level. Each employee of the salon must portray positive attitudes and leadership skills.
Customers will be greeted with a friendly smile and treated fair and with respect. It is the responsibility of the salon’s team members to create an environment that treats people the way he or she expects to be treated and not subject the business to anything short of this type of behavior. The vision, mission, and values guide the organizations strategic direction. The vision, mission, and values of the company help to forecast the business’s success. As long as the business is following the strategic plan by which the foundation and integrity of the company is built, customers will continue to come and receive services.
People will spread the word of good service he or she received while visiting The Malveaux Hair Experience. Good values will help the business grow in areas the business could not imagine. If the employees and manager of the business follow the strategic plan of the company, the company will be successful and profitable. The vision, mission, and values will help all employees involved and will allow the team to be on the same accord. This is a perfect example of how to keep team communication consistent and giving excellent customer service to clients.
When employees work toward one common goal, the organization is channeled in the right direction. The mission helps to generate possible and desired opportunities. The organization needs to evaluate how the organization addresses customer needs and critique how he or she achieves competitive advantage. The salon has to evaluate the services and products provided to the customers. Evaluate whether or not the needs are met in accordance to the ethics of the business. The business has to evaluate whether or not it is providing services that other salons are not offering.
The business has to evaluate the competition it has and make sure its business providing the best customer service. The business can evaluate repeat customers and if the needs are being met. If a customer tells his or her family and friends about the services or services The Malveaux Hair Experience is providing, the word of mouth referrals will be a good evaluation of how the business is doing. This will also provide a way to analyze whether or not the company is meeting the needs of the customers and meeting or exceeding the competitive advantage.
This paper explained the importance of a business’s vision, mission, values, and has determined the strategic direction. When a strategic plan is in place, this helps the business determine what needs to be the main focus. Planning helps the business show leadership and direction. The business has to have some direction to achieve goals set for the business. Working with a team of people who focus on the same goal will allow much success for businesses. Strategic management is the set of decision and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives (Pearce, & Robinson, 2009).
Subject: Strategic management,
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 11 November 2016
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