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Vision, Mission, Values, And Swott Analysis

1550 words - 6 pages

Balance Scorecard and Analysis PAGE \* Arabic 1
Running Head-VISION, MISSION, VALUES, AND SWOTT ANALYSISLittle Fun Size Candy Shop ScorecardJaime EnriquezBUS 475December 20, 2010Lesley KingThe mission of Little Fun Size Candy Shop is to be the best local candy store in all of Silver Spring, MD, creating the best fun size candy bags and to provide a fun, safe, memorable experience for customers. LFSC has developed the strategic objectives of customer satisfaction, customer value, and customer retention. LFSC's mission has developed strategic objectives of productivity and process performance improvement. The function and targets will show that LFSCS looks to improve productivity of the process of fun size candy bags making it a fun and creative way to spend time. This will separate LFSCS from any competitors when compared to local candy stores or concession stands giving LFSCS a competitive advantage in the market.The financial section of the scorecard mentions that LFSC business will generate sales and profit at high rate of profit for stakeholders. First thing will be the increasing of sales and reducing of costs, which improves returns to investors improving profitability and increasing earnings per share that will ultimately attract more stakeholders. LFSCS plans to become profitable within one to three years of business by 10 - 15%.The objective of revenue would be to break even in the first years of operation. Several businesses fail their first year of production so if LFSC can reach a target of being profitable by10-15% that would be a great achievement. The measures would be to offer services and products at a low adequate rate to still break even or generate small amounts of profit. This helps the business become more recognizable and competitive within the market. Consumers want to pay but for great service, "you get what you pay for" can be true at times, but LFSCS wants to exceed expectations and deliver above and beyond service that offers low prices with excellent service. Targets would be becoming profitable within the first three years by 10-15% and reducing risk every quarter. The plan would be to advertise and promote the business locally for the first three years to increase customer awareness locally. Also locating low-cost suppliers and distributors will allow expenses to reduce if not significantly affect profit to increase.The objective is to exceed customer expectation so that the name, Little Fun Size Candy Shop" is well known all over town. The measures are to retain customers and develop customer referrals by word of mouth and generate some feedback. The more people hear about the business, the more intrigued they will be. The target is to retain at least 95% of existing customer per year, "80% of your sales come from 20% of your customer and clients" (Lake, 2010).The objective of delivering an above and beyond experience is to encourage and increase customer loyalty. The measures that will be taken are to have...

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