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Importance Of Strategic Planning Essay

787 words - 3 pages

Strategic management is often known as the foundation of a company's mission and vision which allows an organization to prepare for unforeseen opportunities that may arise. Strategic management focuses on an organization's interest, and defines the way a business wants to expand (Verma, 2009).The small business I would like to start is a taxi cab service. The name of my small business will be Southern Cab Service. The organization will be designed with the customer in mind. Southern Cab Service will be located in Lafayette, Louisiana and will employee 20-25 employees including 2 dispatchers. The organization will service customers in Lafayette and the surrounding areas. The company will be owned by myself and my husband James, who will take care of the financial side of the business. Strategic planning is important for Southern Cab Service to be a success. This paper is intended to define strategic management and planning and explain why a strategic plan would be important for Southern Cab Service. This paper will conclude with an explanation of the four functions of management relative to creating and implementing a strategic plan.Southern Cab Service will compete with other cab companies in the Lafayette area who are already established. What makes Southern Cab Service different from the competitor is the maintenance of the vehicles, appearance of the drivers, and customer service. Other competitors have drivers who smoke while transporting customers. Drivers in other companies are not required to wear uniforms, and the customer service is lacking. Southern Cab Service will fill the voids that other competitors are lacking and will go beyond expectations to gain a reliable and satisfied customer base.Southern Cab Service vows to bring quality, productivity, customer satisfaction, and improvement to the transportation industry in Louisiana. Southern Cab Service will provide quality 24 hour service to the public while operating with the latest equipment and technology available in and around the Lafayette area. The company will have drivers and employees who will be ready and capable of serving the customers of Lafayette and the surrounding areas.The first step in strategic planning is to develop and identify the goals and objectives of Southern Cab Service. To do this the business must have a vision and mission statement. The vision statement is for Southern Cab Service to be Louisiana's number one choice for quality cab service. The company's mission statement will describe the main purpose of Southern Cab Service,...

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