Final Strategic Plan

Final Strategic Plan

Organizations all over the world face competition in their market industry. The organization needs a plan of action or strategy is to compete in today’s marketplace. A strategic plan establishes the objectives, goals, direction, and opportunities within an organization and determines how to execute them. Without strategic planning organizations would not have a clear picture of the goals of the organization or if the organization ever achieved these goals.

Conceptualizing a Business

A strategic business plan is vital to an organization. The plan defines the organization’s mission and vision and provides the organization with a sense of purpose and direction. A strategic plan will also help the organization to assess the strengths and weaknesses of the organization, and to develop short-term strategies compatible with long-term objectives. The plan will balance resources, manpower, structures, and technology to achieve goals with minimal risk. The strategic plan identifies opportunities, goals, objectives, and potential threats ensuring long-term success for the organization. The specific strategic plan is for a Bed and Breakfast Hotel, The Prichard House Bed and Breakfast.

Company Mission Statement

“The principal value of the mission statement is its specification of the firm’s ultimate aims” (Pearce & Robinson, 2009, p. 42). The focus of The Prichard House Bed and Breakfast is to create an environment of relaxation and pampered luxury for the guests. Guests will awaken each morning to the aromas of fresh ground brewed coffee, home baked breads and coffee cakes, and down-home cooked bountiful meals. Fresh fruit, breads, lemonade, hot or cold tea, coffee,

and bottled water will be available around the clock in the main room. Each room is uniquely and lavishly decorated, the beds are extremely comfortable, lavish towels and robes for guest enjoyment, and a stock of chocolate covered strawberries along with ample bottles of water in the...