MGMT455 Unit 5 IP
Company of choice in the fast-food industry (should be a nationwide company)
You have just been hired by (your selected company) as its new vice president of strategic planning. The corporation’s performance in recent years, as well as the changes with business and economic conditions, will be a central focus of your new job.
Given the size of the corporation and the fact that it is in a highly competitive industry, the chief executive officer (CEO) to whom you report has already given you permission to hire a staff of recent Master of Business Administration (MBA) graduates to assist you in your efforts. You recently completed the interviewing and hired four people with minimal real business experience.
In the coming months, you and your team will be creating a completely new—and, presumably, more effective—strategic plan. You plan to begin by holding a kick-off meeting with your team.
Deliverable Length: 1,000–1,250 words
To feel confident that all of the employees in your strategic planning team understand all that you have taught them, you require each to prepare a streamlined version of the key elements of a strategic plan. You require each employee to prepare the following sections of a strategic plan for the corporation’s next 3-5 years:
• Mission and Vision Statements (Simply copying from an existing real company is unacceptable.)
• Specific, Measurable, Achievable, Realistic, and Time-Bound (SMART) Goals and Objectives
• Industry Analysis
• Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) Analysis
• A Perceptual Map
o Choose any criteria that you think are important to plot.
o Explain why you picked the criteria.
Your task is to create a plan, following the same parameters, which will be the sample standard that your employees’ submissions should match.
Company of choice in the fast food industry (should be a nationwide company)
1. History of the company
2. Current CEO
3. Amount of locations
4. Goals for the paper (what are you going to be writing about in this paper)
2. Mission statement
1. Actual mission statement of the company…
2. What I liked about it?
3. What I did not like about it?
4. What I would change about it?
5. When did it come into existence?
3. SMART Goals (3 goals you want the business to achieve in the future) (https://fitsmallbusiness.com/smart-goals-examples/, https://www.thebalancesmb.com/elements-of-a-smart-business-goal-2951530, https://www.mindtools.com/pages/article/smart-goals.htm)
4. Industry analysis (https://www.franchisehelp.com/industry-reports/fast-food-industry-analysis-2018-cost-trends/, https://www.statista.com/topics/863/fast-food/, http://www.historyoffastfood.com/)
5. SWOTT Analysis
6. Perceptual map (Examples in chat #4, no actual map for unit 4 DB please)
1. LABEL POINTS (TWO OF THEM)
1. Listen to chat which provides several examples of label options
2. Competitors that will be plotted in the map (including your company of choice)
1. Recap of the paper (use a sentence at the most)
8. References (5-10 of them that can be transferred to unit 5 IP next week)
ONE company to write about for this assignment (from the fast-food industry). For the first section, the mission and vision statement can be taken from a company in that
industry. The statement can be included, explained, and personal ideas are to be shared. For example, do you like the statement? Was there anything surprising about it? The
second topic is the SMART goals. I will post an announcement pertaining to this topic for you to review. For the industry and SWOTT analysis, you can do this in paragraph
format (which will help you achieve the minimum word count). The last topic is the perceptual map. I have downloaded to the learning material some examples of these maps. You
can either put the map together through your computer or you can hand draw it and scan it into your paper. ***The perceptual map should have an explanation included as to why
you included the material within the map. There should be roughly 10 sources at the end of the paper. I would recommend having titles for each of the topics that you are
covering in the paper (which will help it look more professional).
Please use this link to help with the APA formatting for sources:
Here is some great ideas on what to include in your final paper:
https://www.umflint.edu/library/howselectresearchtopic. For more information on Fast Food check on this: https://en.wikipedia.org/wiki/Fast_food
Try it now!
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