TO: d Steve Wilford
FROM: d d Baylea Jacob
DATE: d d d March 16, 2022
RE: d d d 10-year Strategic Plan
A. At first glance, the 10-year strategy could be simplified even further
than the main three points. A strategy for Paul’s Discount Tires and Repairs
should be one that is sustainable over the next ten years, if not even
longer. Strategy points one and two could be combined and condensed to
serve the same purpose, while the third point more so hinders the thought
of change and adaptability that could foster sustainability. When
formulating the business strategy, it is important to factor in the questions
of can we predict or prepare for circumstances within the strategy, can the
business mold itself to the strategy, and can the business successfully
survive the terms of the strategy (TEDInstitute, 2014, 4:48). While the
three points explain what the company plans to see within the next ten
years, the points limit the adaptability of the company to serve its
customers and stay competitive throughout any situation.
B. There is no question that it is beneficial for a successful company to
stick with core values and missions throughout the lifespan of the
company, such as providing superior customer service and quality work.
This is a great perspective for leaders to communicate through a strategy
that will foster further business opportunities (Saylor, 2014, pg. 15, para.
2).
C. While it can be concluded that the company could sustain the suggested
three-point strategy, the question is if the company would continue to be
successful and efficient with this strategy within the next ten years or
more. In order to continue to keep the company’s competitive advantage,
some changes should be made that would not just sustain the company but
elevate the company as well.
D. One thing that would tremendously improve the strategy is to focus
points one and two more towards tailoring to customers and creating
unique offerings that set them apart from the competition, more so than
simply “beating” the competition (Kirenz Analytics, 2015, 5:59). The
pandemic was mentioned in point three, and this is great to keep in mind
when forming the strategy. The pandemic has shown the business that it
needs to be prepared for anything and be able to adapt to the changing of
demand for customers, which could include thinking from the customers
perspective to tailor services to fit their needs. In order to do this, it is vital
to understand the current performance of the strategy, scan environmental
factors that could affect the company internally, form the strategy based
off of these factors, and implement the strategy effectively and efficiently
(Saylor, 2014, pg. 32, para. 2).
References:
Kirenz Analytics. (2015).
What is strategy? Michael Porter explains
common misunderstandings.
YouTube
. YouTube. Retrieved from
https://www.youtube.com/watch?v=3Hd88eBgkw0.
Saylor. (2014).
Chapter 1 Mastering Strategy: Art and Science
. The Saylor
Foundation. Retrieved from
https://leocontent.umgc.edu/content/dam/equella-
content/bmgt495/Chapter_1Mastering_Strategy.pdf
TEDInstitute. (2014).
Martin Reeves: Your strategy needs a strategy
.
YouTube
. YouTube. Retrieved from
https://www.youtube.com/watch?v=YE_ETgaFVo8.
