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Kudler Strategic Plan
Kudler Strategic Plan
Kudler Fine Food is a western United States based company, which is situated in San Diego metropolitan area. It furnishes quality food products at the reasonable price and also texture option of the best food product to their customers. In the year 1998, it started its functions to serve ever-growing consumers demand. The company has three stores with different departments. Its vision is to arouse its profit earning ability through capturing large market share.
The company was valued for its employee fairness and high customer services.
In comparison to the other competitors, the financial strength of Kudler is quite good as reflected in the forecasted Income statement and Balance sheet. The forecasted financials of the company pondered that its net revenues is showing tremendous growth. While analyzing this company, the environmental scan was necessarily researched to better realize the current critical situation of the company.
Work breakdown Structure
Use of new techniques and skilled labor – enhanced IT and qualified personnel
Key success factors
To efficaciously implement the plan, the following are the key success factors that must be considered planning system, time, roadmap, environmental characteristics, strategic continuum, control, etc. With the proper planning system and road map, we can systematically implement project tasks in the right way with effective manner. Thus, it is concluded that at the time of plan implementation, the company should consider each and every aspect related to the strategic plan.
Through making the cash budget, the financial analysis of the expenditure can be done efficiently. With this budget, Kudler Fine Food easily ascertains excess and shortage of cash at any time. In this cash budget, following are the major financial items that affect the propagation of cash flows (Shim & Siegel, 2000).Such items are Sales and Cash Collections (Cash inflows) and Purchases, Wages & salaries paid, Rent, Depreciation, etc. (Cash Outlfows). In the Cash Budget design, the following are the assumptions taken such as sales is assumed to increase by 15% every month, 85% of sales is collected in next month, purchases cost is considered 60% of sales revenue and paid in same month and total wages to management is 222000 yearly, which is equally distributed monthly.
Forecasted Financials would facilitate the company to know about its financial performance over the last years. With the forecasted Income statement, it will be easy to know its expected net income in the future. On the other side, projected balance sheet reflects its entire future financial performance and nature of the business (Shim & Siegel, 2000).The forecasted financials of Kudler Fine Food are shown below:
Risk Management Plan
Risk Management Plan is defined as a plan document that anticipates unexpected risks and to formulate the response plans in order to minify risk. The risk appraisal matrix is a vital part of this management plan. With this plan, it will be easy to key out, evaluate and prioritize the risks through unified and efficient application of resources in order dilute, scrutinize and control the impact of inauspicious consequences (Portny, 2006). To cope with the critical risks, the Kudler Fine Food should follow the following risk management plan. Such risk management plan includes:
Thus, it is concluded that through applying this risk plan, the management can easily monitor and control risks in the effective way and also increase the chances of achieving success.
Strategy concerns to plan formulation and actions taken to empower an organization to carry out its intended objective effectively. To effectively determine a strategic plan for growth in such a explosive business environment, the company must understand how the various strategy like cost differentiation, cost leadership, stability & growth strategy, etc. function in the industry and regard the specific situation of the company.
To effectively confront the critical issues, the recommended best strategy for Kudler is the Combination strategy. In this strategy, the company merge product differentiation strategy with a market segmentation strategy is an efficacious way, so that it will be easy to equating product strategy (supply side) to the dimensions of the business systems target market segments (demand side).
With this strategy, it will be easy for Kudler Fine Food to fruitfully evaluate the foodstuff demands & supply and align its output plan consequently. With the product differentiation strategy, Kudler Fine Food Company easily make out its product image profitably and minifying competitive rivalry. Thus, it is concluded that only effective strategy makes an organization enable to cope with business requirements and attain predefined targets.
Strategic planning is an effective way that facilitates in attaining objectives. The strategic planning renders the information related to the varying strategic management elements. In addition to this, this planning also furnishes the manner in which the company and its strategists propose to put the strategies into action. The company's vision, mission and value statement entirely depends on the strategic planning (Wilson & Gilligan, 2005). In keeping the plan current, Kudler Fine Food may incorporate this thinking through properly coordinating all its statements with strategy. In addition to this, company should keep in mind the time frame in the formulation of their strategic plan.
To effectively confront the critical issues, the recommended best strategy for Kudler is the combination strategy. With this strategy, it will be easy for Kudler Fine Food to fruitfully evaluate the foodstuff demands & supply and align its output plan consequently. It is concluded that only effective strategy makes an organization enable to cope with business requirements and attain predefined targets.
Portny, S.E. (2006). Project management for dummies. (2nd ed.).
Ryall, M. J. & Craig, J. C. (2003). Strategic Management Kogan Page Publishers.
Shim, J. K. & Siegel, J. G. (2000). Financial Management (2nd ed.). Barron's Educational Series.
Wilson, R. M. S. & Gilligan, C. (2005). Strategic Marketing Management: Planning, Implementation and Control (3rd ed.). Butterworth-Heinemann.
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