D Company - Strategic Business Plan - Report Writing - Business Assignment Help

Assignment Task:

Strategic Vision Statement
Our vision for the company is to produce a high quality shoe and rebuild our position in each of our company’s regions that has facilities. With that, our company will need to come together to move away from our current strategy of low-cost leadership to a differentiation strategy to better capture our wholesale sales and reduce production in our private-label operations. In a nutshell, our shoes will maintain its high-quality products to be a contender once again in both wholesale and private-label.

Step 2: Objectives/ Performance Targets
Your target objectives should be at least as high as investor expectations. Higher scores are awarded for setting objectives and achieving performances that exceed investor expectations. Lower scores are awarded for setting objectives and achieving performances that are below investor expectations.

Step 3: Strategy for Achieving Performance Targets
Our company is in need of an overhaul and is willing to take a new approach from what we are currently doing to date. With this, our company has no consistent competitive strategy- we prefer to “re-invent” our strategy each year to pursue whatever opportunities look most promising. Our plan over the next three years is to continue our “opportunistic” approach to strategy and not commit the company to any long-term strategy or any specific market focus. We like this strategy-for-a-year approach and believe it works well for us. We will drive awareness to our customers to bring them into our large production of private-label brands which in turn will give us the support we need for our wholesale production needs and overall sales. Indeed, our company too, will need to take into consideration that of the novel COVID-19 pandemic that has changed the characteristics and behaviors of that of our customers, suppliers, and supply chain around the globe.

While I understand our current projections do not meet our investor/shareholder expectations it is imperative that we place ourselves at our investor expectations due to the current place in the market in which our company is. We as a company have to be wary that we do not have goals that overstretch our employees as they will be unwilling to meet unrealistic goals that are at this time to do. Keeping our opportunistic and high hopes we will be successful once again as we once started.

Taking into consideration of COVID-19 pandemic, what has happened is that our physical store retailers have begun to close their stores as more and more countries have begun to prohibit business from opening their doors unless they are an essential business. This is all in effort to prevent the spread of coronavirus. Thus, we will need to need to increase our image and invest on the online sales and marketing segment of our business to capture the new “non-business” that has taken away from our physical store’s retailers. Indeed, this is an unfortunate but very necessary decision that we choose this, but this is how I feel we will be able to combat our potential long term loss due to COVID-19 pandemic. Thus, the increase in almost all aspects regarding our online presence.

Taking all into consideration our end goal strategy will be that of pursuing a low-cost and differentiation strategy to be able to better compete with the competition currently in the market which may include lowering production and having raising prices.
Reduce manufacturing of private label shoes
Increase wholesale marketing by shifting over to online presence due to COVID-19 pandemic
Increase marketing to further increase our online presence  

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