Question

A strategic vision is a roadmap showing the route a company intends to take in developing and strengthening its business. It portrays a picture of a company’s destination and provides a rationale for going there. Objectives are an organization’s performance targets – the results and outcomes it wants to achieve. They function as yardsticks for measuring how well the organization is doing.

Select a business with which you are familiar. Develop a strategic vision and strategic objectives for the business. Share your company’s vision and objectives with your class. How do your vision and objectives communicate the company’s aspirations to the customer? How are these statements distinctive and specific to the organization? Are the objectives measurable and quantifiable?

Answer 1

A business that I am familiar with is the business of quick service restaurant (QSR) . The company is a Houston that sells different fast food items like burgers, pizzas, fries etc. using organic materials. The unique selling proposition of the company is to offer fast foods to its customers by using only organic materials so that its customers are consuming food items that are free from chemicals and hence good for their body.

Strategic vision: The strategic vision that I have developed for this company is “to serve more and more customers food that is delicious yet healthy and nutritious and to become one of the most profitable businesses in this industry by constantly focusing on innovation and improvement”.

Objectives: The objective that I have developed for this company is “to be the favored place for eating out for our customers while offering them food at reasonable prices and providing them with quick service”.

The vision and objectives stated above clearly communicates the company’s aspirations to the customer. It reflects the focus that the company has towards adding value for its customers by offering them food products that is organic and healthy and yet delicious. The company wants to offer its products at reasonable prices so that customers are able to afford them and they also want to focus on service aspect by providing quick service to customers. This ensures that the convenience factor for the customers is also high.

These statements are distinctive and specific to the organization as there is a clear focus on the company’s target audience. The company is specifically targeting consumers who wants to buy healthy fast food products. These customers wants delicious and tasty food, yet will not compromise on the health and nutrition factor. Secondly the company is clear on its definition of excellence and states that it wants to achieve it by focusing on constant improvement and innovation.

Yes, the objectives are measurable and quantifiable. The company can easily determine the number of customers who prefer their restaurant as the preferred place for eating out. This can be determined through customer research and market share analysis. Ability to provide food at reasonable prices is also measurable and quantifiable through price bench-marking analysis.