The strategic plan will help provide better, more targeted service to its clients and will be more specific on how the company will go about achieving company goals. The strategic plan will help Riordan’s executives understand the company’s direction by reviewing past progress and making changes to improve and grow. The strategic plan is an organizational tool that will help keep Riordan on track to meet growth and financial objectives. Need for a Strategic Plan Successful businesses are effective at identifying opportunities for growth and ensuring every manager has the same goals. For Riordan to further strengthen their strategic plan, they can develop a financial model based on their income and cost assumptions they would anticipate under the plan (Mikrut, 2010).
This prompted Monty Moran, co-CEO, to develop the “restaurateur program” which gives employees the ability to advance quickly through the ranks of the company. Chipotle can utilize this strength by ensuring that their employees remain happy working for the company, who will promote a higher standard of customer satisfaction resulting in customer loyalty and limiting these customers from spending money with the
This allows them to allocate resources, like inventory and marketing dollars, to optimize the portfolio. Further, during the economic downturn they have effectively managed payroll while maintaining the service levels customers expect in the stores. To further improve staffing efficiency” Lowe’s is implementing a new staffing software tool, which provides detailed scheduling forecasts based on each store’s customer traffic patterns, incorporates each store’s penetration of specialty business into that forecast and provides managers with improved visibility to daily staffing needs by department. Lowe’s will continue to refine their supply chain”.
Tanglewood: Case One Dear Mr. Perrone, after reviewing your company history, values and philosophy I feel confident that I can help you design a better functioning staffing department. Acquire vs. develop talent I believe that since two middle class everyday individuals founded Tanglewood, it is within their philosophy to develop talent within to promote ideas from their own employees and make them feel empowered. As part of my research of your company I found that it is company culture to allow all employees to give their input and suggestions, therefore in order to promote participation employees need to feel that their efforts will result in promotions. Hire yourself vs. outsource When I first began researching your company and
The management team needs to understand that “change is an ongoing and never-ending process of organizational life” (Van de Ven & Sun, 2011, p. 58). After showing the team where they are the next step would be to show them where they can go if they make the necessary changes. During the future state presentation, an outline of how business would increase and improve statistically. Companies often require visual and the future state presentation would provide several visual chart reports showing the company how they will improve their marketability by implementing project management functionality. The increase to employee morale and production would be the closer to this presentation.
The economic benefits of high customer loyalty are measurable. When you consistently deliver superior value and win customer loyalty, market share, revenues and profitability all go up, and the cost of acquiring new customers goes down. A clear and structured new customer induction scheme will boost customer loyalty and retention, increase the frequency of purchase and raise the dollar value of each transaction and increase referrals. Customer induction schemes are a vital step in business growth as they deliver higher yielding customers and drive up profits by reducing the need to spend money attracting new customers. It is very much about long term retention marketing and is purely created through exemplary customer
For a company to retain talent it must offer more incentives for the employees than that of its competitors. Your company encourages the decisions and ideas of the employees but more programs could be put in place to help retain employees. Implementing a program that offers rewards for time and cost savings not only benefits the employee but also the company by projecting a positive image of employee worth to the company. Keeping the companies hiring practice on the national level is required for all employees that work in the retail stores but if there is a need for technology or manufacturing of a particular product I would recommend global labor. The ability to tap into the global labor market will make the company more competitive by being able to offer competitive prices on products due to lower overhead cost associated with the offset in the labor cost.
Complex retail IT systems help Greggs management monitor store and product performance, manage cash flows from the tills and deal directly with ingredient and other key suppliers. 10 One of the founding principles of Greggs is that the business put people first. Greggs are passionate in their belief that if the business treats its people correctly, they will treat customers with similar consideration. As well as giving staff an enjoyable place to work with good career prospects, Greggs also look to fairly reward all its employees. A number of pay schemes and fringe benefits are on
Acquire or Develop Talent Tanglewood should acquire talent, because it wants to keep performance and customer service at high levels. In addition, while old stores under Tanglewood have the same basic look, the management styles and human resource can use some improvements. Acquire talent is very helpful for new stores, because employees would “hit the ground running” and be at the peak performance the moment they arrive. Hire Yourself or Outsource Personally, I think Tanglewood should hire itself. Outsourcing is more practical for small and medium companies.
Donco has not lost an employee who chooses to chase a dream, quite the opposite; our company is better and stronger for caring. The loyalty instilled in someone when so much caring is shown is priceless. The affect this individual can have on attitudes in the workplace is amazing. Simply stated, this is doing the right thing for the workers. According the U.S. census bureau, between 2005-2009 median earnings for individuals with a high school diploma was $27,272, while those with a bachelor’s degree earned $47,747 [Census, 2009].