Strategic Plan Part III

Strategic Plan Part I

The proposed new product is an affordable smartphone that comes along with the best features in the mobile phone industry. The mobile is proposed since it is a device that a majority of people demand in the market today. As much as there is stiff competition in this industry, there is still a room for businesses that apply the most effective strategies to make sure that they have a share of the market.

When a new product is proposed in a division, it should be able to boost the competitiveness of the company in general (Tout & Rivkin, 2010). In this case, the smartphone will target the middle and low class of the economy through its affordable price. It will be designed with the latest features but will still maintain a low-price tag. This will be made possible through the innovation and creativity of the research and development team.

Mission Statement

The mission statement “To empower people through technology”, summarizes what the business is intended to achieve. In this case, the company will be innovative and creative in terms of technological advancement to make sure it comes up with products that meet the expectations of the users. Through the technology in the product, the people will be greatly empowered to do more.

A mission statement should be a summary of what a business or organization looks forward to achieving. It is also a reminder that enables an organization to stay on track through whatever activities and operations that are engaged in. In this case, the mission statement reminds the business to stay focused on technological innovation and creativity to ensure that users of the product are empowered as it is expected.

Differentiation of the Production

Tout & Rivkin (2010) note that differentiation basically refers to making a product unique from the rest in the market. Differentiation is very necessary especially in industries that are highly competitive. In this case, the mobile phone industry is among the most competitive due to the high number of organizations engaged in the business. This implies that creativity and innovativeness should be applied to make a product different from what the rest of the market offers.

To differentiate the product, the design will be quite unique from what the market is used to. The external appearance of the smartphone will be designed differently. Basically, it will be slimmer and more appealing to the eye. It will also come in a variety of colors. The product will also be designed with the latest features such as fingerprint and eye recognition. Lastly, its price will be average.

Addressing Customer Needs

Customers are among the most important stakeholders in any business organization because they are the reason why the organization exists. As much as businesses are established to make profits, this can only be achieved in the presence of the customers (Buttle & Maklan, 2015). Taking this into account, it is necessary for customers to be treated in the right manner so that they feel important to the business.

The division will address customer needs by creating a platform on which customers can make their suggestions. The suggestions will then be incorporated into the future products of the business. For instance, customers can provide their reviews after using the product. They can suggest how they want the products to be improved. Through such views, the needs of the customers will be addressed by incorporating their suggestions into future decisions.

Achievement of a Competitive Advantage

According to Sanchez (2010), competitive advantage refers to an opportunity that a business has over its competitors to be more competitive. This implies that it is necessary to put in some extra effort to ensure that customers are given an additional benefit should they decide to purchase the products from a particular business. It is necessary to focus on competitive advantage to be relevant in the market. With respect to the case, the business will achieve competitive advantage by focusing on the customer. Even though the quality of the product matters as well, the company will ensure that the views and interest of customers come first. By so doing, there will be a high level of customer satisfaction and this will directly translate to competitive advantage.

Vision

The vision of the division is “To become the leading company in smartphone technology in the next 10 years”. A vision basically provides a guideline to what a business organization should achieve within a specified period. In this case, the vision is focused on technology. This is based on the idea that technology is the future of business in the modern world. Through technology, businesses will be able to come up with products that can meet and exceed the expectations of the market. By focusing on technological advancements, the business will come up with more advanced smartphones and this implies that there will be a demand that will ensure sustainability.

Business Model

Buttle and Maklan (2015) state that a business model is basically a strategy followed by a business with respect to operations to make sure that success is achieved. There are various options from which businesses can choose their models. As much as all models are effective, a business needs to consider various factors before settling on a model that it intends to apply. For instance, it needs to look at its industry as well as its competitors and the goals that should be achieved. The business model to be used in this case is the cheap chic model. The model is concerned with the marketing of stylish products which are inexpensive. This will enable the consumers to feel that they have the value of their money.

Division’s Alignment with the Company’s Vision and Mission

Mission

The division’s vision is “to empower people through technology”. This implies that as the business engages in its operations, the bottom line is to ensure that the consumers feel empowered from the use of the company’s products. This is aligned with the company’s vision about using technology to empower the people. The people are the future of the organization. Technology also plays an important part especially with respect to sustainability. A combination of the two ensures that the company delivers the best to the target market. It is noted that for the overall vision of the company to be achieved, it is necessary to have relevant visions for different divisions.

Vision

The vision of the division is “To become the leading company in smartphone technology in the next 10 years”. As also outlined in the company’s vision, the objective is to invest in technology so that the company becomes the industry leader as far as smartphone technology is concerned. The division vision is clearly aligned with the company’s vision to make sure that the best results are achieved in the next 10 years. Industry leadership in terms of technology implies that the business will be competitive and sustainable due to the constant demand for its high-quality products. In simple terms, it is necessary for all divisions of a company to share a common vision and mission for the purpose of alignment.

Values

The new division is based on values such as integrity and accountability. As much as there are several other values, these are the strongest due to the contribution that they make towards achieving the overall objective of the business. Through integrity, there is a sense of honesty in dealings and this creates a positive public image of the organization. Accountability is basically concerned with responsibility. This is a value that enables the employees of the organization to be responsible for anything that they do. The value creates a sense of carefulness because the employees know that they will be held accountable should any problem occur under their watch. Through carefulness, they can deliver better services that are in line with what the future of the organization is all about.

Conclusion

The mission, vision, and values guide the division’s strategic direction by providing guidelines with respect to what needs to be done to achieve the best results. For instance, the mission provides the direction of focusing on technology to empower the people. In another perspective, the vision gives a timeline within which the mission should be achieved. The values provide guidelines with respect to the specific behaviors that should be displayed to make sure that the strategic direction of the business is followed in the right manner. Basically, each of these elements plays a significant role in ensuring that the future of the organization is assured.

References

Buttle, F. & Maklan, S. (2015). Customer Relationship Management: Concepts and Technologies. London: Routledge.

Sanchez, R. & Heene, A. (2010). Enhancing Competitiveness for Competitive Advantage. London: Emerald Publishing Group.

Tout, J. & Rivkin, S. (2010). Differentiate or Die: Survival in the Era of Killer Competition. Hoboken: Wiley.