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Ch2_strategy_S2011

Ch2_strategy_S2011 - ChapterTwo Strategic Planningand...

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Chapter Two: Strategic Planning and Opera6ons Management In Retailing
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“It pays to plan ahead. It wasn’t raining when Noah built the ark.” Anonymous
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“However beau?ful the strategy, you should occasionally look at the results.” ‐Winston Churchill
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Retail Strategy A clear plan of ac6on that guides a retailer one or more year(s) in dura6on which outlines mission, goals, consumer market, overall and specific ac6vi6es, and control mechanisms. Ac6va6on involves adap6ng the resources of a firm to opportuni6es & threats in a rapidly changing retail environment.
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Elements of Strategic Planning Define the Mission Set Business Goals Conduct a SWOT Set Marke?ng Strategy Manage Opera?ons to Goals
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Organiza?onal Mission The mission is the retailer’s commitment to a type of business and to a dis6nc6ve role in the marketplace. It oKen iden6fies target markets, core products & services, and dis6nc6ve competencies.
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What’s In a Good Mission Statement? Defines Core Reason for Being I.D.s Distinctive Competencies Motivates Employees Identifies Stakeholders Stated Concisely Influences Corporate Culture
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Mission Statement of San Francisco Honda “To continually surpass our customers’ expectations in the purchase and service of Honda products. Our success will be achieved by fostering the creativity and integrity of our employees in the pursuit of excellence.”
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"Our vision is to be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online."
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To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a ?me.
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“To become America’s store of choice through the commitment of each employee to provide our customers the very best in quality, value, selection and service.”
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