To: Steve Wilford
From: Daniel P. Carreon
Date: 27 March 2022
Subject: Paul's Discount Tires & Repairs Strategic Plan
Steve,
d d d d As requested, the answers to your questions and review of
Paul's Discount Tires & Repairs Strategic Plan are below.
A. What is wrong with the strategy?
This is a great foundational document; however, the strategic plan should
detail how Paul's Discount Tires & Repairs will succeed (Saylor, 2012, p. 8).
The first bullet is somewhat vague and repeats commonly known
information. As a result, it does not provide significant value to the overall
plan. This is an opportunity to convey the organization's vision and mission
to its stakeholders. The vision statement should convey the company's
broad, long-term goals or aspirations with clear, concise, and easily
understood language. The mission statement describes what industry Paul's
Discount Tires & Repairs will compete in, how it will target a specific
market segment, differentiate itself, and inform stakeholders of its goals
and overall purpose (Saylor, 2012, p. 41).
B. What is right about this strategy? There is a lot that is right about this
strategy. It touches on several of the unconventional acts of business
strategy. First, it discusses how the organization will achieve its objectives
based on its culture and history. It also commits to its identity as a
discount retailer and service provider to provide the lowest price discount
tires and vehicle repairs, with exceptional customer service and quality
work (Leinwand & Mainardi, 2016, para 12).
C. We are the market leader in discount tires and repairs in our city,
indicating that we currently have a competitive advantage. Will we sustain
it with this strategy? It is hard to predict the future. The business
environment is constantly changing. And although the organization is
currently the market leader in discount tires and repairs, it should
continuously identify and refine its competitive advantage and define how
to sustain it throughout the future (Goldsmith, 2013, p. 15). Leadership can
drive this within the organization and foster buy-in from its internal
stakeholders to realize competitive advantage as part of its Strategic Plan
(Goldsmith, 2013, p. 16).
D. What is one thing we could do to improve on this strategy? To improve
Paul's Discount Tires & Repairs Strategic Plan, it should create vision and
mission statements that are supported by goals. A strong vision statement
is forward-looking and conveys the organization's long-term goals and
aspirations. In contrast, the mission statement identifies the purpose of the
organization. Goals are the specific pathway to achieving the mission and
vision. They should be specific, measurable, aggressive, realistic, and time-
bound, commonly called SMART goals (Saylor, 2012, p. 42).
References:
Goldsmith, D. (2013). Rethinking the Company's Competitive Advantage.
Financial Executive, 29(6), 14- 17.
Leinwand, P., & Mainardi, C. (2016, February 3). Creating a strategy that
works. strategy+business. https://www.strategy-
business.com/feature/Creating-a-Strategy-That-Works
Saylor, (2012). Mastering Strategic Management. d d d
https://resources.saylor.org/wwwresources/archived/site/textbooks/Maste
ring%20Strategic%20Management.pdf
