Final Strategic Plan

Essay by xorcist316College, UndergraduateA, May 2010

download word file, 10 pages 0.0

An organization depends upon the strength of its strategic plan to guide the business toward the ultimate goals of fulfilling the need of a customer and making a profit. This is a simple statement; however, the process in building this plan is not simple. In the formation of a company, a mission statement, a vision statement, and guiding principles or values are established in order to communicate to the customer and the employee the purpose of its business. These 3 components are the foundation of the company of which objectives and goals are built. Using tools such as SWOTT analysis to identify strengths, weaknesses, opportunities, threats, and trends, and the balanced scorecard to set objectives, measures, targets, and initiatives, a strategic plan can maintain alignment with the mission, vision, and guiding principles. The strategic plan for Rooms of Taste Tea House has been created and will be further explained in the following sections.

Rooms of Taste Tea House is a small family-owned business which is operated by a mother and daughter partnership employing a small staff of 7 employees. The business is located in a small shopping district of a historic town in southeast Texas whose target customers are mainly female in gender. The tea house offers a select menu based on 5 dining rooms which vary according to the changing themes of each room and is only opened for lunch, Monday through Saturday. Each room can accommodate 16 people based on 4 tables of 4, 2 tables of 8, or one table of 16. Rooms of Taste Tea House also provides services to private events in the evening hours such as wedding rehearsal dinners and adult birthday parties with a wide variety of menu options from which to choose.

According to Entrepreneur (2009), "A mission statement defines what an...