BMGT DISCUSSION 2 response (3)

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SMITHFIELD CUSTOM FURNITURE CASE STUDY

Adam Carr

1.  Explanation of Mission Statement Requirements                                                                                                                             The mission statement describes what the organization needs to do now to achieve the vision.  Mission and vision statements support each other, but the mission statement is more specific. (Lumen 2014)

2. A Mission Statement for Smithfield Custom Furniture New Product Line                                                                            Smithfield Custom Furniture-We make quality furniture aimed at the middle class families.  We have stores provide in the United States, England, France and Germany.

3. Explanation of Vision Statement Requirements                                                                                                                                 The vision statement is a broad description of the value an organization provides.  It is a visual image of what the organization is trying to produce or become.  (Lumen 2017)

4. Vision statement for Smithfield Custom Furniture's Product Line                                                                                         Smithfield Custom Furniture’s Product Line is a furniture line that creates beautiful, affordable furniture.

5. Application of Porter's Competitive Strategy                                                                                                                              Michael Porters integrated strategy combines the elements of both low cost and differentiation.  (Bruton and Lumen)  It combines a broad market with focused low cost.  Smithfield Custom Furniture offers a broad market for different types of furniture and a focus on low cost.  By offering furniture that is still up-scale so it is appealing but will cost less than the limited edition furniture made from exotic woods. 

6.  Priority Order/Justification Smithfields 3 Next Steps                                                                                                                      The first step that Jonas Smithfield should take to enhance his chances for success is to define his objectives.  This is the most crucial step to determine what is to be accomplished.  The next step is to identify resources.  This step will determine the resources needed to implement the plan.  Jonas can determine what will be needed to produce high-end furniture at affordable prices.  Finally, I think that he needs to plan and implement tasks.  Everyone at different levels in the organization would be assigned at task.  By using charts he would be able to track schedules and priorities. (Lumen Learning)

 

 

 

References

Learning, L. Principles of Management. Lumen. https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/reading-mission-vision-and-values/.

Learning, L. Principles of Management. Lumen. https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/stages-and-types-of-strategy/.

Learning, L. Principles of Management. Lumen. https://courses.lumenlearning.com/wmopen-principlesofmanagement/chapter/the-planning-cycle/.