To: Steve Wilford
From: Daniel P. Carreon
Date: 27 March 2022
Subject: Paul's Discount Tires & Repairs Strategic Plan
Steve,
g g g g g g g g g g g g g g 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- g g 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. g g g g g g g g g g g g g g g
https://resources.saylor.org/wwwresources/archived/site/textbooks/Maste
ring%20Strategic%20Management.pdf
