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1Individual Assignment: Strategic Plan Update-Final VersionSTR/581ndividual Assignment: Strategic Plan Update-Final VersionExecutive SummaryEstablished in 1998, Kudler Fine Foods is a company that provides quality food productsat a reasonable price in order to provide its customers within the San Diego metropolitan areawith the best options. Kudler maintains three stores with various departments. The companyprides itself in providing value for its employees & customers.From a financial perspective, Kudler’s financial statements reflect a competitive marketpresence within its industry based on its size & history; this can be seen within its incomestatement & balance sheet. Kudler’s financial forecast demonstrates that the company expects agreat deal of growth in the future. An environmental scan shows that although the company facesseveral threats, the company has numerous opportunities it can capitalize on that may fostercontinued growth.Company BackgroundOpened by Kathy Kudler in 1998, Kudler Fine Foods is a specialty food store thatprovides its customers with quality services & products at reasonable prices. Kudler has threestores, with locations in Del Mar, La Jolla, & Encinitas. These stores have departments thatprovide produce, bakeries & pastries, meat & seafood, condiments & packaged foods, &specialty dairy products.Mission StatementThe purpose of a mission statement is essentially to explain the underlying rationale for acompany’s existence, & at the same time, inquire as to what a company’s function is in relationConfidential
STRATEGIC PLAN UPDATE – FINAL VERSIONto how the company places itself within society (Pearce & Robinson, 2009). The missionstatement is critical in that it expresses a company’s true identity & philosophy whileestablishing an image in which the general public will perceive. As such, it is important that themission statement of Kudler Fine Foods emphasize the aforementioned premises.The previous mission statement of Kudler Fine reads as follows: “Kudler Fine Foods iscommitted to providing our customers with the finest selection of the very best foods & wines sothat your culinary visions can come true” (Kudler Fine Foods Web Site, 2007). A moreappropriate mission statement for Kudler would be: “The mission of Kudler Fine Foods is toprovide a large assortment of high quality foods & wines at the best possible prices with theassistance of a well tenured & obliging workforce in order to meet & exceed the expectations ofits customers to make their shopping experience as enjoyable as possible”.Vision StatementA vision statement is one that explains the position in which a company wishes to be inwithin the company’s future (Pearce & Robinson, 2009). This kind of statement involvesthinking strategically on a long-term level while establishing its intentions. For most companies,the vision involves growth or sustainment in regard to overall size, capacity, & input/output.