January 10th, 2018
Home Pick-up| Strategic plan – Translating the strategic plan into an action plan
HPDLS has identified important aspects that would make its strategic plan work. One of these would be employing college students to act as marketers of the company’s products. This would ensure that they influence their colleagues through peer pressure. The company in this respect plans to introduce and sustain rewards for introducing a customer to its laundry services. For the customers who have introduced a substantial number of clients in a period of six months (500 clients) the company proposes a paid up trip within the country and such free laundry services for the subsequent three months. Through these rewards the company would like not only to sustain the initial clients it would have amassed but also ensure sustainable inflow of new clients.
A second action that HPDLS has taken to ensure growth of its laundry business has been formalizing partnerships with neighboring institutions. These partnership agreements are based on contribution of a given percentage of income sourced from these institutions to development programs at the institutions. Such agreements are formulated on increasing percentages with revenue from such institutions up to a 5% maximum net of taxation requirements in a given year. Through these partnerships the entity has expressed its desire to have its name imprinted on sponsors list of these organizations thus improving its corporate perception. The company envisions being the preferred community laundry services company through these corporate activities in the following five year period.
Evaluating success and controls to ensure success
The strategic plan forecasts a number of indicators of success for the first year. Primarily success would be measured by the revenue generated which will be mainly influenced by the number of clients signed up. At the end of the first year the company projects to have improved its financial position to enable it expand the existing laundry installments or open up a new branch in a different part of the city. This will also be reflected in the level of employment that the company will create following expansion of orders.
The involvement of a number of stakeholders necessitates the introduction of stringent controls. The entity thus has put in place budgetary controls that ensure that actual expenditures do not deviate from such and when these do the persons charged with authorizing expenditure are required to offer credible explanations. Further to enhance transparency in the reward policy, a system has been proposed that would allow clients monitor their claim to the rewards. Successful implementation of these would form the basis against which the organization measures its performance after one year of existence.
Chen, X., Zou, H. & Wang, D. T. (2009). How do new ventures grow? Firm capabilities, growth strategies and performance. International Journal of Research in Marketing 26, 294-303.
Happerville.com (2009). About us. Retrieved February 02, 2010, from http://www.hamperville.com/about-us
Policastro, M. (n.d). Introduction to strategic planning. U.S. Small Business Administration. Retrieved February 02, 2010, from http://www.sba.gov/idc/groups/public/documents/sba_homepage/pub_mp21.pdf