OPPapers.com

Final Strategic Plan

Final Strategic Plan
Angela D. Nicol
University of Phoenix
BUS 475

Final Strategic Plan
Picture yourself relaxing in a room with aromatherapy while waiting for a spa specialist to come into the room and be given the treatments for the day. One doesn’t have to achieve this type of pleasure by only going to a spa it can be achieved at home where the pleasure of a spa comes alive. Scents & Things is a relation therapy store that provides the generally public with all the necessary tools and techniques to do at home relaxation therapy. The stores offers a wide range of products which include home salon services like cellulite, body, an cosmetic treatments, reflexology, aromatherapy, candles and perfume blending. All products focus on the achievement of obtaining a healthy balance of mind, body, and spirit. This paper will define the strategic management and planning process which includes the vision, mission, values, SWOTT analysis, Balanced Scorecard, and communication plan for Scents & things.
Strategic management and planning
Strategic planning is vital for a company to be successful and will determine the path that the new company will take. When a company implements a strategy they are essentially lying down and defining the framework for all managerial decisions. The strategy will contain vital information and “reflects a company’s awareness of how, when, and where it should compete; against whom it should compete; and for what purposes it should compete” (Pearce, Robinson 2004, p4).
As the owner of a new relation therapy store (Scents & Things) the first step in designing a strategic plan is to develop a mission statement by identifying the purpose of Scents & Things. The mission statement of Scents & Things will represent the “philosophy of the firm’s strategic decision makers, implies the image the firm seeks to project, reflects the firm’s self-concept, and indicates the firm’s principal product or service areas and the primary customer needs...