bus 475

Final Strategic Plan

Ernestine L Washington

BUS/475

November 10, 2014

University of Phoenix

A successful business must have a clear vision and mission statement that the company will take and move forward. The mission for the Supreme Full Body Fashion Spa is to make the best and the most successful spa possible for all types of people. The vision is to see a total of three locations of the spa open across the city. To be able to achieve this spa has to satisfy several objectives that uniquely contribute to the business. This paper will recount some of the details of previous works from week two, three, and four with information such as the business and strategic plan and the balanced scorecard, all three are essential in the success of the spa.

Mission Statement

All companies must define the business and to be able to prove they as well are able to stand out among the large amounts of competition. The business that is needed to be introduced in my community will be a Full Body fashion Spa. Discover a tranquil sanctuary located in the most prestigious section of Manhattan. The spa will have the inspiration from many of Manhattan’s cultures to create a memorable experience. Unwind, relax and reconnect to the gentle pleasures of life at a full body spa. This will not be just any spa but a big city spa that will be located in a very busy and prime spot in Manhattan, New York. I will be the primary owner and operator of the establishment; it will have the décor that will be able to compete with the top Manhattan style spa along with a warm, friendly and family type of atmosphere. It will also be a place where you are a person of leisure as well as a hard working individual this will be the place for you. What will set this business apart from most NY spas is that not only will be able to get the basic massages, sauna and facials but this spa will have a gym the best of all the top clothing lines such as evening dresses , shoes, jackets ect. As well as a hair, nail and pedicure salon. There is more that will set this business apart from the rest the salon will offer to its patrons the same quality of service that others spas offer but with a twist. The spa will also have personal stylist that can assist you get ready for a great night on the town or a big event coming up such as a wedding.

The products the spa will offer to our clients will be the top of the line organic products for our facials, the best hair products which will be for all types of hair. A spa is a place for relaxation and personal care treatments while all spas may offer the same type of treatment, day spas offer more options for working people looking to relax without leaving the city a relaxing atmosphere, private treatment rooms, professional workers, and a variety of extras. Quality as well as top service will be at the top of our list.

The establishment will offer the customers flat panel HD/TV’s, service that will be equipped with Wifi and internet service that will especially be a plus for those businesses minded people that may have to check in with office. The rooms will also have music. The client can choose their favorite selection from R&B, opera, gospel even rock which will be able to be listened through headphone so not to disturb the other patrons. New York is always know to be a quick pace place to reside and with that comes a lot of stress, this will be a perfect example of what is needed to relax and unwind. NY is made of a very diverse group of people. We have a large population young people who are just starting out and need a place to come and get away from the fast past of the day to day life. Offering them taste tranquility a vacation with out packing for how ever long they wish is like a dream come true. The mission statement: we are very committed to wellness for our customers, our company’s team will provide the highest level of customer service, upholding the highest standard of professionalism and to incorporate green practices & organic products in truly peaceful, luxurious spa environments for the customers..To have our customers to come and enjoy a short vacation with out the rush like when traveling 2,000 miles away. For the consumer to be able to feel like they are on a vacation retreat right in their own town. We take pride in the service that we provide our customer, the fun we will be giving, and receiving the contagious smiles and laughter the customers will be leaving with you. We will even go so far to have a comment box of suggestions for specialty service that patrons would like have available to them, along with seasonal specials.

Vision

A few ways we will separate our spa from other spa’s we are family owned and operated, the service and attention comes from the heart, because of this we will have a true feel for what our community wants from our establishment, which is to feel completely relaxed and refreshed upon leaving. Giving the opportunity for our customers to be able to see as well as feel just how much we are committed to their happiness and well being. Giving our customers the opportunity to see how committed we are to their over all health as well. The vision for the spa is for it to grow into a family run business with maybe two to three other locations in other parts of NY like Suffolk and Nassau County, being able to service NY by staying true to family, friends, and community. To be able to inspire cultivate and empower while the quality and reputation of the establishment are supreme, so is the success of profit. Once I am able to show continued growth and a solid profit margins the possibilities are limitless for expansions. Are good profit margin will also allow for commitments like sponsoring a little league team, and donations that will assist other local businesses and schools giving us a positive public image.

Guiding principles or values

The guiding principles or values would be as with any successful business, a spa venture needs to follow sound business principles to make sure what you deliver is relevant to your guests. Spas that thrive understand the careful balance and interaction among the needs of the guests, staff. The culture of the business reflects my culture and that of my family, and when I say culture I mean that of respecting everyone who walks through the doors. We will have a diverse selection because I want a diverse crowd. The social responsibility and ethics would be providing a comfortable and relaxing atmosphere only best for our customer. I will not hesitate to take the opportunity to make things right and apologize on behalf of the business, always treat others the way I want to be treated, and with respect.

Business Swott Analysis

Business owners need to realize that while there is great potential to succeed there is equal potential to fail. One of the greatest factors of success or failure is external factors and how they will play a role in the operations of a business. In this paper there will be a definition of some external factors for the Supreme Full Body Fashion Spa and how well the spa adapts to these factors. Analysis of the supply chain of operations will also be taken into consideration along with the identification of other issues and opportunities that may occur.

Balanced Scorecard

Shareholder Value or Financial Perspective

Because the initial location will be in the center of Manhattan, it can hold a considerable market share over other spas in that area of the city. The financial perspectives include market share, the vision influences the market share in this way and it allows for enhancement of profitability and the competitive position. More spas around the city can have the same supply chain operations that the initial spas would have, keeping the costs relatively the same. Increasing the number of spas would, also help to lower prices of raw materials because the spa would be buying larger quantities. This in turn would reduce the cost of spending but would increase the profits. The mission values are to provide the greatest quality experience to our clients promoting balance of body and mind. To achieve such a goal, it is very necessary that some objectives for customer service and employee satisfaction are put into place to ensure they are met.

Customer Value Perspective

An objective that should be maintained is to keep the same level of service and customer satisfaction going throughout time. Ways to measure customer satisfaction is how customers react to the spa on review sites such as twitter or frequency in which they visit. Offering a punch card with a reward is way to measure the frequency that they come into the spa, also, online surveys is another way. Obviously, a large group of people coming to the spa signifies that the spa is a popular destination, because a large group of people would only come to a spa if they all were satisfied with the service. Noticing changes in trends can help an owner to understand where problems may be.

Process or Internal Operations Perspective

To achieve this objective, the spa needs to maintain a fast and reliable service plan for the company. This requires planning, as the employees need efficiently give the client the service they have requested. There is no better way to retain customers then to have them leave happy on every visit. And word of mouth can be very effective when it comes to marketing the business. From the moment a client enters the spa they should be given and environment that is clean, safe, comfortable and extremely relaxing. Anything tat can be done to make this the best and most positive experience will help retain clients and gain new ones.

Learning and Growth (employee) Perspective

The amount of satisfaction that the employees will have determines how good of a service they provide to customers. Increasing employee satisfaction is a must for the business. Gaining commitment and ensuring employee motivation and productivity require open communication and trust between manager and staff.

Communication Plan

Tactics and Strategies

The internal strategy will be to keep consumers pleased and to keep their visit to the Spa as memorable as possible so they would want to come there again. Keeping the place where the atmosphere is enjoyable and to make every customer feel like this is their first time will allow the relaxed feeling to come over them. He customer will not be able to get the feeling out of their minds that they can’t wait until their next Spa visit

Monitor and Control

The strategic plan for the spa to specify who is responsible for the overall implementation of the plan and who is responsible for achieving each goal and objective. The plan should also specify who is responsible to monitor the implementation of the plan and made decisions based on the results.

1. Are goals and objectives being achieved or not? If they are, then acknowledging, reward and communicate the progress. If not, then consider the following questions.

2. Will the goals be achieved according to the timelines specified in the plan? If not, then why?

3. Should the deadlines for completion be changed (be careful about making these changes -- know why efforts are behind schedule before times are changed)?

4. Do personnel have adequate resources (money, equipment, facilities, training, etc.) to achieve the goals?

5. Are the goals and objectives still realistic?

6. Should priorities be changed to put more focus on achieving the goals?

7. Should the goals be changed (be careful about making these changes -- know why efforts are not achieving the goals before changing the goals)?

8. What can be learned from our monitoring and evaluation in order to improve future planning activities and also to improve future monitoring and evaluation efforts?

Conclusion

Having a strategic objective in the format of a balanced scorecard can help any business owner put everything into perspective. Understanding where the business stands in the marketplace is vital in growth and overcoming the competition. The internal operations may need to be changed from time to time, but once a tried and try method are developed it came only serve as a catalyst for future growth. But two of the most important factors are the employees and the clients. Without both the business will go not be a striving and successful business. When all of these items are on the scorecard and then balanced the business will achieve balance as well.

References

Balance Scorecard Institute., (2011 June 20). What is the balanced scorecard?