Strategic Planning for E Company: A Market Analysis and Financial Targets

Running head: STRATEGIC PLANNING
Strategic Planning
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1STRATEGIC PLANNING
Introduction
Strategic Planning of any firm is the systematic and informed decision making of any
firm in order to reach particular objectives or goals in a particular year or as a whole (Bryson,
2018). The mission and vision of the firm are also usually aligned in this respect. It is very
important for the firm to carry out a strategic planning in order to steer ahead in the market and
secure a rank that is higher than the existing rank and helps the company to occupy a secure
position in terms of the competitors and their respective ranks in the market (Bryson, 2018). It
also involves an analysis of the previous financial aspects of the firms and improving of the same
using business models (Dibrell, Craig and Neubaum, 2014). Better disruptive business models
are also used to improve the efficiency and implication of the latest forms of technology and
innovation used to improve the market ranking of the firm (Slack, 2015). In this report the
existing market situation of the firm called the E Company is analyzed and a strategic plan is
formed to reach a better rank in the market.
Vision
The vision of E Company is not only to reach a higher rank in the market but also
globally and expand and evolve each day with the help of the best possible disruptive business
models and technological innovation. The firm aims to ease the lives of its customers and better
their living standard with the help of its products and services.
Mission
The firm increasingly aims at achieving a global level of networking and recognition. It
attempts to reduce the performance gap it currently is faced with and generate higher revenues

2STRATEGIC PLANNING
and profits. The firm also tends to improvise and customize its products of a regular basis
depending on the changing demand patterns and tastes and preferences of the customers.
Financial aims and objectives:
E Company increasingly aims and targets to achieve the following objectives in the
upcoming financial year:
 To increase its market ranking with the use of disruptive business models and smart
technological products
 To increase its Investor Expectation score and Best-In-Industry score and reach a level of
overall score that is higher than the current score of its competitor Hummingbird
 To increase the financial growth of the company by 50% of its current financial growth
and instill the concept of repeat sales in its operations
General Approach to Strategic Planning:
The general approach that firms follow for strategic planning depends upon a number of
factors including the kind and amount of information the firm has about its competitors, the
modes of communication it uses for both internal as well as external communication, the number
of alternatives available with respect to the strategies formed during planning, the
implementation techniques that the firm wants to follow and the learning the firm obtains from
the past researches and strategic planning and the learning it wants to use in this strategic plan. In
this case the information of the competitors are readily available with the firm - E Company and
the firm also has an idea of its rank compared to the rank of its competitors in the market and so
it will be able to use the administrative method as a general approach to strategic planning in
order to garner a larger market share (Verhoef et al., 2017). This approach uses the already