Developing a Strategic Growth Plan The Scenario Success All Around! Sally now has won three Michelin Stars and has become the first Three Star restaurant

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Developing a Strategic Growth Plan The Scenario

Success All Around!

Sally now has won three Michelin Stars and has become the first Three Star restaurant in North America. The presentation of the Michelin Award goes to those ambitious chefs and restaurants for their culinary excellence. It’s the most prestigious Culinary International Award presented to qualified establishments and Chefs. The event’s organizer, The Michelin Guide, has led the world in food and restaurant inspections. To be honored with a Michelin Star denotes the benchmark of excellence. Sally has joined the competition seeking her third Michelin Star. Only the best restaurants worldwide are eligible to receive the Third Michelin Star. The winners in the Michelin guide gain recognition as having “exceptional cuisine, worthy of a special journey.” A two Michelin Star classification denotes “excellent cuisine worth a detour.” One Michelin Star says, “very-good cuisine in its category.” Sally focused on winning her third Michelin Star diligently, working on the only qualification – “Perfection.” 

In its fifth year of operation, the Restaurant has become the number one destination for vacationers coming to Florida and Foodies from all over the world. Food critics have poured in from all over just for the opportunity to experience the delights and write about the savory treats served in Sally’s signature dish. One savory treat included a specially formulated dessert created by Sally. The desert has become so popular that many customers have requested extra take-home orders. A substantial number of patrons have asked if the dessert would ever be sold separately in markets.

Annual revenue from the restaurant is approaching over twenty million dollars. The business has amassed direct ownership of fifty properties located around the country in high-density cities. Sales from the Table app have steadily grown to over six million dollars in annual sales through subscriptions and advertising revenue. The company has invested in Kitchen-to-Door food delivery using the cooking lesson Kitchen-Vision App that combines the delivery of ready-to-cook meal packages. The service offers customers the experience to compete with Sally’s streaming cooking lesson shows, cooking Kitchen-ready meals. This venture’s return on investment (ROI) has more than paid the initial investment and shows profit-level income. The company enjoys the highest credit ratings and has outstanding loans securing the original property and the other investment properties. The loans are in their final years, with projected restaurant revenue has positioned the business in a favorable position that will enable the company to redeem the commercial paper before the due date, saving 12% of the outstanding balance. You and Sally both agree that it’s time to develop a growth plan. 

Your Assignment

· First Complete the Business Growth Document answering the questions based on the course materials. You may add your perspective to the answers.

· Complete the Strategic Plan Chart and Upload the Chart and the Business Growth Document. (These documents are attached in the attachments section).

· You will attach these documents to your discussion posting.

Discussion:

Next Based on the information that you have gathered, discuss the following in a minimum of  two paragraphs minimum of 150 words.

· Identify the indicators that your business is ready to expand.

· Identify three ways to grow your business.

· Describe your Vison and how it impacts your Mission.

For this Assignment, complete and submit these documents:

· Business Growth Questions (PDF) 

· Strategic Plan (PDF) Acme Corporation Strategic Plan
Strategic Plan 2014-2016

Foundation Strategic Objectives and Organization Goals Key Performance Indicators

Our Mission

The mission of Acme Corporation Technology is to create

technology solutions for forward-thinking organizations

Our Core Values

1. Purpose & Growth – our foundation is built on our

purpose and provides a place for our team’s passion

2. Client Focus – a razor-sharp focus on our customer’s

growth is essential and the only way to succeed.

3. Integrity – to have honesty and respect for all

individuals.

4. Leadership – to empower and inspire entrepreneurial

leaders.

5. Professionalism – to be professional in our actions to

our clients, partners and each other.

6. Excellence – to continually pursue knowledge and

learn.

7. Community Service – to effectively help organizations

to make an impact.

8. Fun – to have enjoyment and fulfillment in our work

Competitive Advantages

What we do best

1. Reoccurring revenue that is scalable

2. Assets and software products in place outside our

services

3. Innovative in marrying business process with

technology

4. Business Network – domestic and international

5. Patented Intellectual Property – interactive, integrated

web-based

Organization-Wide Strategies

How we will get there

Organization-Wide Focus:

2013 – Lay the foundation for the organization.

2014 – Execute a market penetration strategy to increase

top line.

2015 – Standardization of all processes.

2016 – Develop the infrastructure to prepare for growth.

Financial

1 Revenue Growth: Grow our revenue by 30% each year

1.1 KPI – Generate sales of $1.5 million by the end of the year.

2 Productivity Improvement: Maintain a 20% Net Profit
Margin each year

2.1 Maintain profitability with a budget allocation of 50% for business re-
investment for product development.

2.2 Increase average billable hour factor. (Source: Time-tracking Program)

Customer

3 Professional Services: To be the professional partner
of choice.

3.1 Professional Service: Acquire 2 new consulting clients $10,000+ per
month.

4 Maintenance Contracts: To be viewed as the top
technology resource in the western region.

4.1 Maintenance Contracts: Acquire an average of 5 new maintenance
contracts per month

4.2 Licensing: Acquire 1,500 total licenses by the end of the year.

4.3 Maintain 85% of our current customers.

Internal/Operational

5 Innovation/Product Development: Continue to develop
technology innovation.

5.1 Launch integration with 2 other applications.

6 Overall Operations: Develop and maintain an
infrastructure that allows for a virtual office and
efficient overhead.

6.1 Set up computers to be accessed from any destination.

6.2 Define all procedures and process in writing in order to support
projected growth.

6.3 Blogs & Newsletters: Consistently timely relevant thought leadership
that is developed, published and preserved.

People and Learning

7 Training: Actively help our team to
develop and grow professional and
personally by supporting a flexible
work life, providing intellectually
engaging work, and fair compensation.

7.1 Train sales people in best practices

7.2 Develop better communication and presentation
skills to increase ability to work with and assist
clients.

8 Community Involvement: Develop
and implement a corporate giving
strategy that is in line with our
competitive advantages.

8.1 Manage the selection, contribution and
customer communication of nonprofit donations.
Target is 15% of revenue.

9 Long Term Strategic Objective (No
assignment, far reaching and broad
based, 3-5 years out) [**Sample Goal
Cascading**]

9.1 Organizational Goal (Corporate-wide,
generally not assigned, 18-24 months) [**Sample
Goal Cascading**]

How we measure success

Measure Target

$ in sales $1,500,000
$ per billable hour. $220
# of new consulting clients 0
avg monthly # of new maintenance
contracts

0

% increase in customer base annually 85%

Vision

What our Organization will look like

To be known as the technology experts and resource center

for small to medium-sized organizations.

This is where you type your description.

Implementation

How we make strategy a habit

Appoint a strategic plan manager

Hold people accountable (now that they are able)

Put in place an incentive compensation plan

Coach for achievement

Empower managers

Hold effective strategy meetings – first Mondays

Hold annual retreat – second week in December

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