Developing a Strategic Growth Plan The Scenario
Success All Around!
Sally now has won three Michelin Stars and has become the first Three Star restaurant
Developing a Strategic Growth Plan The Scenario
Success All Around!
Sally now has won three Michelin Stars and has become the first Three Star restaurant in North America. The presentation of the Michelin Award goes to those ambitious chefs and restaurants for their culinary excellence. It’s the most prestigious Culinary International Award presented to qualified establishments and Chefs. The event’s organizer, The Michelin Guide, has led the world in food and restaurant inspections. To be honored with a Michelin Star denotes the benchmark of excellence. Sally has joined the competition seeking her third Michelin Star. Only the best restaurants worldwide are eligible to receive the Third Michelin Star. The winners in the Michelin guide gain recognition as having “exceptional cuisine, worthy of a special journey.” A two Michelin Star classification denotes “excellent cuisine worth a detour.” One Michelin Star says, “very-good cuisine in its category.” Sally focused on winning her third Michelin Star diligently, working on the only qualification – “Perfection.”
In its fifth year of operation, the Restaurant has become the number one destination for vacationers coming to Florida and Foodies from all over the world. Food critics have poured in from all over just for the opportunity to experience the delights and write about the savory treats served in Sally’s signature dish. One savory treat included a specially formulated dessert created by Sally. The desert has become so popular that many customers have requested extra take-home orders. A substantial number of patrons have asked if the dessert would ever be sold separately in markets.
Annual revenue from the restaurant is approaching over twenty million dollars. The business has amassed direct ownership of fifty properties located around the country in high-density cities. Sales from the Table app have steadily grown to over six million dollars in annual sales through subscriptions and advertising revenue. The company has invested in Kitchen-to-Door food delivery using the cooking lesson Kitchen-Vision App that combines the delivery of ready-to-cook meal packages. The service offers customers the experience to compete with Sally’s streaming cooking lesson shows, cooking Kitchen-ready meals. This venture’s return on investment (ROI) has more than paid the initial investment and shows profit-level income. The company enjoys the highest credit ratings and has outstanding loans securing the original property and the other investment properties. The loans are in their final years, with projected restaurant revenue has positioned the business in a favorable position that will enable the company to redeem the commercial paper before the due date, saving 12% of the outstanding balance. You and Sally both agree that it’s time to develop a growth plan.
· First Complete the Business Growth Document answering the questions based on the course materials. You may add your perspective to the answers.
· Complete the Strategic Plan Chart and Upload the Chart and the Business Growth Document. (These documents are attached in the attachments section).
· You will attach these documents to your discussion posting.
Next Based on the information that you have gathered, discuss the following in a minimum of two paragraphs minimum of 150 words.
· Identify the indicators that your business is ready to expand.
· Identify three ways to grow your business.
· Describe your Vison and how it impacts your Mission.
For this Assignment, complete and submit these documents:
· Business Growth Questions (PDF)
· Strategic Plan (PDF) Acme Corporation Strategic Plan
Strategic Plan 2014-2016
Foundation Strategic Objectives and Organization Goals Key Performance Indicators
The mission of Acme Corporation Technology is to create
technology solutions for forward-thinking organizations
Our Core Values
1. Purpose & Growth – our foundation is built on our
purpose and provides a place for our team’s passion
2. Client Focus – a razor-sharp focus on our customer’s
growth is essential and the only way to succeed.
3. Integrity – to have honesty and respect for all
4. Leadership – to empower and inspire entrepreneurial
5. Professionalism – to be professional in our actions to
our clients, partners and each other.
6. Excellence – to continually pursue knowledge and
7. Community Service – to effectively help organizations
to make an impact.
8. Fun – to have enjoyment and fulfillment in our work
What we do best
1. Reoccurring revenue that is scalable
2. Assets and software products in place outside our
3. Innovative in marrying business process with
4. Business Network – domestic and international
5. Patented Intellectual Property – interactive, integrated
How we will get there
2013 – Lay the foundation for the organization.
2014 – Execute a market penetration strategy to increase
2015 – Standardization of all processes.
2016 – Develop the infrastructure to prepare for growth.
1 Revenue Growth: Grow our revenue by 30% each year
1.1 KPI – Generate sales of $1.5 million by the end of the year.
2 Productivity Improvement: Maintain a 20% Net Profit
Margin each year
2.1 Maintain profitability with a budget allocation of 50% for business re-
investment for product development.
2.2 Increase average billable hour factor. (Source: Time-tracking Program)
3 Professional Services: To be the professional partner
3.1 Professional Service: Acquire 2 new consulting clients $10,000+ per
4 Maintenance Contracts: To be viewed as the top
technology resource in the western region.
4.1 Maintenance Contracts: Acquire an average of 5 new maintenance
contracts per month
4.2 Licensing: Acquire 1,500 total licenses by the end of the year.
4.3 Maintain 85% of our current customers.
5 Innovation/Product Development: Continue to develop
5.1 Launch integration with 2 other applications.
6 Overall Operations: Develop and maintain an
infrastructure that allows for a virtual office and
6.1 Set up computers to be accessed from any destination.
6.2 Define all procedures and process in writing in order to support
6.3 Blogs & Newsletters: Consistently timely relevant thought leadership
that is developed, published and preserved.
People and Learning
7 Training: Actively help our team to
develop and grow professional and
personally by supporting a flexible
work life, providing intellectually
engaging work, and fair compensation.
7.1 Train sales people in best practices
7.2 Develop better communication and presentation
skills to increase ability to work with and assist
8 Community Involvement: Develop
and implement a corporate giving
strategy that is in line with our
8.1 Manage the selection, contribution and
customer communication of nonprofit donations.
Target is 15% of revenue.
9 Long Term Strategic Objective (No
assignment, far reaching and broad
based, 3-5 years out) [**Sample Goal
9.1 Organizational Goal (Corporate-wide,
generally not assigned, 18-24 months) [**Sample
How we measure success
$ in sales $1,500,000
$ per billable hour. $220
# of new consulting clients 0
avg monthly # of new maintenance
% increase in customer base annually 85%
What our Organization will look like
To be known as the technology experts and resource center
for small to medium-sized organizations.
This is where you type your description.
How we make strategy a habit
Appoint a strategic plan manager
Hold people accountable (now that they are able)
Put in place an incentive compensation plan
Coach for achievement
Hold effective strategy meetings – first Mondays
Hold annual retreat – second week in December