Writing a business plan is an important factor in beginning a business, but many owners are unsuccessful to make out the importance of one. A good plan focuses on meeting primary objectives, and to stay on track, it is essential in developing a good communication plan. Anytime managers put into practice strategic objectives, measures, and targets including marketing and information technology a communication plan are important to set and alert the businesses target audience. Little Fun Size Candy Shop (LFSCS) has developed a communication plan, ways to monitor and control strategies and tactics to help Little Fun Size Candy Shop (LFSCS) separate from any competitors when compared to local candy stores or concession stands giving Little Fun Size Candy Shop (LFSCS) a competitive advantage in the market.
In attempt to keep employees, investors or shareholders, and management up to date, controls and monitoring will be important to the long-term success of Little Fun Size Candy Shop (LFSCS).
With the use of strategic implementation a process that, “turns strategies and plans into actions in order to accomplish strategic objectives and goals” (MyStrategicPlan, 2010) facilitates the successful completion of strategic objectives and goals of LFSCS. Successful strategic implementation hinges on several key factors: action planning, organization structure, human resources, annual business plan, monitoring and control, and linkage (Birnbaum, 2009).
ANDY PULLEN BUSINESS ADMINISTRATION 100 EXAMINATION NUMBER TWO Lars this is how you create a business plan. First you have to set the vision, goals, and objectives of your business. The most important driver for almost any business plan is return on investment (ROI). Commonly, when someone starts to write a business plan for the first time you need to determine what is your objective? The ...
The strategic plan of any organization is the most resourceful plan that can be implemented by managers or owners. Little Fun Size Candy Shop (LFSCS) takes satisfaction in the tactical and strategic plans generated for a local candy store offered in Silver Spring, MD. In order for Little Fun Size Candy Shop (LFSCS) to succeed, management has developed an effective communication plan that will assist in solving issues efficiently and fast. Little Fun Size Candy Shop (LFSCS) has come up with tactics and strategies to meet company objectives. The company plans to have management meet weekly for the purpose of focusing on learning best practices from each other along with communication updates.
Weekly meetings for LFSC will target discussions about client relationships to discussing workplace issues, in short strategic control, “to track a strategy as it is being implemented, detect problems or changes in its underlying premises, and make necessary adjustments” (Pearce & Robinson, 2009).
Managers that cannot meet on a weekly basis, from time to time it is important to get management together over the phone. Little Fun Size Candy Shop’s (LFSCS) target is to improve internally, give feedback on job performances, outline goals for the next meeting, ask for ideas, motivate, and to learn about staff issues.
Continual improvements on employee training are necessary for producing the best services to customers and to improve internal operations through management. Little Fun Size Candy (LFSC) will have monthly training sessions targeting supervisors and employees. This plan will help monitor and improve employee’s ability to provide better customer service, improving customer retention, gain knowledge about the business, and understanding his or her impact in the business. Helping employee’s advance up the ladder of management will retain employees motivating them to excel and continue their education and careers with Little Fun Size Candy Shop (LFSC), “this is an important function that will keep all staff member’s current about policies, procedures and the technology used in the department” (Bodimer, 2010).
The relationship between business ethics and customer relations lies in the manner in which the management of various businesses apply the principles of ethics in their interaction with customers. As such, business ethics and customer relations may apply to the way in which a business conveys its products and services to customers and the manner in which it handles customer complaints. It also ...
Employees who like their job help the business make more money, “survey conducted by Sears showed that when employee attitudes improved by 5 percent, customer satisfaction jumped 1.3 percent, consequently increasing revenue” (Smith, 2010).
With the increase in job satisfaction Little Fun Size Candy (LFSC) hopes to target loyal, quality, and energetic future employees for the future of LFSCS extending its name not only through consumers but also through the job workforce.
Recognition is an important factor in retaining key talent. Recognition can create memories for employees which can lead to higher performance. There are many forms of recognition; Little Fun Size Candy (LFSC) plans to hold annual customer and employee appreciation day to display the appreciation and thanks for customers and employees loyalty to the business. The company will select random days throughout the year to hold these events, neither both will ever be held on the same day. Those responsible in arranging such events will be managers, who will share a connection with their staff in showing their gratitude and contribution to the overall success of the business. Entertainment, rewards, food, and beverages will be at the events to show the company’s appreciation to its customers and employees, “firms that visibly exhibit such principles will become more attractive to prospective and current employees alike. This helps boost brand equity to all internal and external stakeholders” (Conduit, 2007).
The significance of showing customers that the company cares about their business can have significant results like referrals, repeated business, and positive feedback for the services and products of the business.
1. Introduction It is generally accepted that information is a vital commodity for the successful operation of today's organizations. Nowadays modern business organizations are using computerized information systems in order to obtain such information. However as the technology advances rapidly the main issue is how can an organization should effectively use such an information system - which its ...
To keep up with the advance changes in technology and communication, Little Fun Size Candy Shop will use the intranet developed by their IT technicians and marketing personnel to provide mission, vision, and current strategies as a reminder to employees the company’s goals. The intranet will serve as a resourceful tool for employees to keep up with any changes within the company, “modern businesses are adopting intranet technology due its competitive advantages in dealing with the corporate information essential for any business” (Vernekar, 2011).
Intranet is very useful for communication between upper management and employees, replacing at times discussion groups or conferences. The intranet will reduce costs, cutting down on printing and distribution costs. The business will benefit through the increase in collaboration with employees having the ability to access data, this will improve teamwork within Little Fun Size Candy Shop.
Finally, the last step to ensure that objectives and issues are resolved for the upcoming year for Little Fun Size Candy Shop (LFSCS) is to hold an end of the fiscal year meeting, which will be conducted by upper management. This meeting will target upper management but include internal and outside investors, discuss the year that just ended. Discussions about sales, gains, and losses for the business will be introduced by upper management. Outside investors will have the ability to state their opinion and give feedback about the business. The meeting will also discuss the expectations and goals for the upcoming year and where they see the business headed in terms of expansion, and what management will have to do in-order to meet the company’s goals.
In conclusion Little Fun Size Candy Shop (LFSCS) looks to separate itself from other competitors not only through consumer demands but also make a name for itself in the job market. Although, having a successful business takes time to achieve, having the right tools and strategic plan are very important. Having the right staff supporting the business in operations and service will attract any consumer, without consumers there is no business, and without loyal and successful employees, there are no customers at Little Fun Size Candy Shop.
Business Management has known a significant evolution. In the past, the management without any staff consideration had imposed employee actions. Since the end of the sixties, it is changing. Members of the staff have a personal role to play in the firm. Nowadays, the understanding of the firm management involves more and more psychological and sociological analysis. This new world of comprehension ...
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