strategic_plan_part_1new_product_or_sevice.docx

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Running head: STRATEGIC PLAN PART 1: NEW PRODUCT OR SERVICE 1 Strategic Plan Part 1: New Product or Service Students Name: Course Title: Institution: Professor’s Name: Date of Submission:
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STRATEGIC PLAN PART 1: NEW PRODUCT OR SERVICE 2 Strategic Plan Part 1: New Product or Service Executive Summary The coordination between the company’s vision, mission, and core values is very crucial in influencing growth and success of an organization. Strategic business planning tools have to be employed in this dynamic contemporary business environment since they are the most fundamental mechanism through which competitive edge can be created and sustained for the organization to attain its goals and objectives over time. The company’s mission, vision and value proposition have been known to contribute significantly to the strategic direction of the company and thus should always be taken into consideration during the planning process by Mars Hospitality Groups (McNamara 2013). In essence, the top management official of the Mars Hospitality Groups have to analyze the needs and expectation of the customers, needs of its shareholders and the employees in order to ensure it utilizes the efficacy of the strategic decisions that they make. In order for any company to achieve its strategic objectives and goals, there is a need to come up with the appropriate mission and vision statements and this will form the basis of all the subsequent decisions that the management of Mars hospitality Group will make at any point in time. In this paper, the focus is on a new product/service to be introduced in a new division in Mars Hospitality groups. This company mainly specializes in the management of hotels and clubs on contract basis and thus provides guests with the best available hospitality care they deserve.
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STRATEGIC PLAN PART 1: NEW PRODUCT OR SERVICE 3 Existing Business Vision Statement The vision statement is one of the major tools that form the crucial component of the strategic planning in an organization. It explains to the world the image of the company and what it is aspiring to be or achieve in the near future (Armstrong 1986). The vision statement is actually the idealistic version of how the company will appear in the event that all objectives are achieved in the company. Mars Hospitality Groups Division vision The vision statement of Mars Hospitality Groups Division is: To be the world’s leading Hospitality Company in provision of imaginable hospitality care in places where nobody would be willing to deliver and create a brand that will be globally recognized.
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