Strategic Plan

The Sports Village is a pedestrian shopping, entertainment and restaurant zone around a huge sports bar. The surrounding shops include sports memorabilia, specialty toys, souvenirs, luxury gadgets, and collectibles. The entertainment in the village compose of unique street performers, themed events throughout the year like pumpkin carving for Halloween and a New Year's Eve countdown street party. The sports bar/restaurant is in the center of The Sports Village. The customers who visit The Sports Village will be able to identify with the products and services being offered thereby developing a customer base that should enhance the potential for growth.

Vision, Mission, and Values

The Sports Villages vision is to meet consumer needs and stay with the key values the consumers live by. The mission is commitment to responsible business practices. The Values consist of Empathy, Integrity, Originality, and Courage.

SWOT Analysis

The Sports Village Strengths, Weaknesses, Opportunities, Threats, (SWOT) analysis was completed. Strengths consist of appropriate zone or location, easily accessible, and appealing to customers. The weaknesses include economic decline is decreasing customer spending, appropriate employee training, and limited product for customers. Opportunities comprises of sponsoring local programs, technology, and benchmarking. Threats contain customer changing buying habits, lawsuits against the establishment, and competitors.

Balanced scorecard

The balanced scorecard is a set of measures directly linked to the company’s strategy. The scorecard allows managers to evaluate the company from four perspectives; financial perspective, customer knowledge, internal business processes, and learning and growth (Pearce & Robinson, 2009). The financial perspective typically uses measures like cash flow, return on equity, sales, and income growth (Pearce & Robinson, 2009). Customer knowledge is used when companies that implement a strategy of customer intimacy...