Strategic Management for Haigh's Chocolate Company

This presentation discusses the importance of strategic management for Haigh's Chocolate Company, a family-run business in Australia. It covers the company's vision statement, goals and objectives, current state, progress, available opportunities, and recommendations for expansion and growth. The presentation suggests expanding the brand and broadening the target market, increasing sales through a comprehensive product range, improving efficiency and relationships with suppliers, and using innovative marketing approaches. The possible outcomes of these recommendations include more revenue, increased customers, and increased sales and customer interests.

Running Head: STRATEGIC MARKETING 1
Strategic Management
Student’s Name
University

STRATEGIC MARKETING 2
Introduction
Strategic management is crucial in any business. A plan provides guidelines for achieving
specific goals of a particular subject. Therefore, enterprises require well developed strategic
plans to aid in knowing how their firms are running and if there are working towards their
mission and vision.
Transcript for the presentation
Slide 1: Name of the company.
Slide 2: This slide defines the company’s vision statement.
A vision statement illustrates the future-oriented testimony of an organization’s
achievement and aspirations. It is said that the mission statement forms the basis of an institute’s
vision “where it wants to be in the future.” A company’s strategy plan should start from the idea
since its purpose is to accomplish the concept and consequently fulfil the organization’s mission.
An institute’s objectives should be SMART; specific, measurable, achievable, realistic and time-
bound.
Slide 3: Illustrates Haigh’s Company’s goals and objectives
Goals and objectives steer a company or institution towards its vision. Lack of goals and
objectives leads to the slow development of a firm. An organization's goals are the precise,
quantifiable results of the strategic plan. These objectives allow the institute to realise its
purpose. Additionally, an organisation’s goals are the accurate, measurable results of the
invention. The institute’s objectives provide details of how much of what will be achieved by a
specified period.
Slide 4: Current State of Haigh’s Chocolate Company

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Haigh’s company is one of the pioneer chocolate producing companies in Australia. The
company was established in the year 1915 by Alfred Haigh. The company has been effectively
run by Alfred’s son, grand-sons and great grand-sons. This family management approach allows
the company to maintain its traditions. For example, the “bean to bar” technique used during the
chocolate manufacturing process.
The company has 17 retail suppliers situated in Melbourne, Canberra, Adelaide, and
Sydney and online. The company manufactures about 200 commodities and other products
whose sales funds several charities. Though Haigh’s targets customers to seek exceptional
quality chocolate, it is among the limited suppliers. According to the management, the company
needs to widen its customer range to ensure more brand awareness.
The businesses’ value is to continue being caring and considerate to their staff, clients,
distributors, and stakeholders. The company currently has approximately 300 employees.
Haigh’s chocolate Company offers quality commodities and services throughout Australia. The
firm manufactures chocolates and makes its deliveries or arrange for alternative transport to the
wholesale shops.
Slide 5: The progress of the Company.
Haigh’s company being a family run business it is easy to maintain the company’s
tradition. The well-known one being the “bean to bar” tradition. The regular management
practices have played a significant role in the present state of the firm. The employees in
collaboration with the administration has guaranteed the continued operational competence and
reliability.
Slide 6: Available opportunities for the Company.

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As a business grows, various opportunities come up. It is important to weigh different
opportunities to see the one that befits the industry. These new opportunities pave the way for the
development of a company or institute.
According to the current studies of Haigh’s Company, several approaches have been
stated to be significant in its development. Some of the identified organization prospects
included differentiating the chocolate’s loyalty brand and product quality, creating brand
awareness, and improving the company’s proficiency. Strengthening the association with its
distributors, cross training the employees, adapting new food technologies, and increasing the
company’s client range are other potential opportunities.
After identifying any opportunities that can positively influence an organization it is
important to execute them. A strategy plan is one of the tools that can ensure effective
implementation of new prospects for business. An excellent managerial team is crucial during
the implementation and execution of a proposal. Involving clients as well as shareholders is vital.
The responses and different approaches tabled are esential for an operative plan.
A strategy plan plays a significant role in an institute since it offers a sense of track and
outlines determinate objectives. The program acts as a tool that is beneficial for managing daily
choices and also for assessing the progress and altering approaches when moving onward.
A business’s strategy plan enables the organisation to meet its goals and vision. The idea
provides the ground for assessing competing budgeting demands. The evaluation results help in
knowing the changes to be made to achieve the set goals.
Also, the strategy enables the managers to be more vigilant about new opportunities, risk
developments, and any up-coming changes. Creating a proactive surrounding, promoting the

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growth of new business models and unifying numerous strategy-connected choices and institute
efforts are other strategy impacts.
Slide 7: Recommendations and Results.
For a particular proposal to be active, it calls for commendations to effect it. For Haigh’s
Company to accomplish its goals and objectives, it has to set specific approaches. The company
needs to increase the number of clients thus it needs to expand the brand and broaden the
selected target market.
Haigh’s needs to increase its sales. Hence it has to execute a more comprehensive
product range. Additionally, the business is in an entire need of new customers, expanding the
store locations as well as introducing new customers would be essential. Lastly, the firm needs to
accustom itself with the current novel technology and improve associations with suppliers. Thus,
it has to develop new cooking technologies by introducing tempering machines, chocolate kits,
and chocolate molds.
For the company to successfully maintain the production of high quality chocolate, it
requires to improve efficiency and to strengthen the relationships with its suppliers. Cross
training of employees will increase labor. Conducting cross training will enable Haigh’s to enjoy
the use of less staff and savings will rise.
Operative marketing approaches will be essential. The company can venture into retail
supply into big hotels or elite dining places to develop economies of sales. Using innovation, it
would need to make its commodities by the current consumer’s preference. Low sugar, low fat
plus high quality chocolate is commended, and the opening of Haigh’s branded café will offer a
new experience to its clients.

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By having proper cognizance of Haigh’s Chocolate brand and where to locate it, it will be
difficult to get this type of products elsewhere. Therefore, the customers will not easily settle for
another brand thus lowering their trading power.
Raising finances as a private firm is challenging. Haigh’s is a one commodity business,
and this reduces its opportunities of getting their target market. Therefore, growing the product-
range could widen their target customers thus increasing returns.
The product expansion could be done via related stuff like cookbooks, serving plates, and
cutlery. Retail shops are currently available in New South Wales, Victoria, and South Australia.
Therefore the brand is not familiar. By extending their supply locations in more countries and
places in supermarkets, malls and markets in the outskirts of Australia can significantly enhance
and develop the company and create greater brand awareness.
The company can also improve its marketing by developing new approaches. Haigh’s can
use social media platforms like twitter, Facebook, to promote its brand. The company could also
conduct exhibitions of their products at various places like malls, supermarkets, high and
economy class hotels, and cafes. Employing these strategies would help significantly in getting
their brand to the market.
The possible outcomes of employing the above listed recommendations include more
revenue for the company, increased numbers of customers, and increased sales and customer
interests. All these outcomes will be an aid in accomplishing the company’s vision.
Slide 8: same as the slide

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