Canterbury Renovation Strategic Plan: Semester 1, 2024

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DEVELOP AND IMPLEMENT STRATEGIC PLAN
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Table of Contents
Assessment 1..............................................................................................................................1
Assessment 2..............................................................................................................................5
Assessment 3..............................................................................................................................6
References:.................................................................................................................................8
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Assessment 1
Describing the business and its industry
Canterbury Renovation is aiming to introduce its business. This entity will provide
renovation service to its customers. The industry of this entity can be said as the construction
industry. However, Canterbury will render service to its customers in fixing household issues.
Service regarding maintenance of sold items will also be done by this organisation.
Vision and mission of the organisation
The vision statement of the organisation is to provide service to its customers who have
purchased a new house or apartment. As this organisation does the renovation of an old house
as a result, providing service to the resident of the old house is also its vision to some extent.
In addition, the mission of the organisation is to gain profit and also increase its customer
base with a change in time. Therefore, it can be said that providing service to the resident of
old as well as, new is its vision and earning profit from it is its mission.
Values of the organisation
Organisational values can be said as core ethics of the organisation and in which way
employees are putting effort for the organisation. As per the opinion of Turner and Endres
(2017, p.3), it can be commented that organisational values are its resources, ethics, suppliers,
investors and many more. Therefore, in this case, organisational values of Canterbury
Renovations are paints, timber, plastic, metal, and many other services. The main aim of the
entity is to provide quality service to its customers.
SWOT analysis of Canterbury Renovation
Strength: The owner of the organisation supervises all the works or the contracts.
Weakness: Customer base as well as, fund strength of the entity is low as the organisation is
starting its business.
Opportunity: The organisation is having scope to grow its business as new apartments are
growing rapidly.
Threat: Competitors available in the market can be said as a potential threat to the
organisation. Another threat of the organisation is that the rapid increase in the cost of labor
and material is affecting growth and profitability performance.
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SWOT Analysis for its competitors
Swot analysis mainly identifies the strength and weakness of any business organisation. As
per the opinion of Li (2015, p.562), it can be said that with the help of this analysis
opportunity of the organisation and in which way it is applying the business organisation can
also be understood.
Strength Weakness
 The entity is having skilled staffs for
its business organisation.
 All the project is supervised by the
owner of the organisation.
 The company is having a strong
relationship with suppliers and
tradesperson.
 Lack of fund
 Overall, the business place of the
entity is small
 The organisation is not having any
long-term plan.
 There is a lack of equipment in the
organisation
Opportunity Threat
 The organisation is having scope to
grow its business in other parts of
the region
 Model of the business market is
changing rapidly with the change in
time.
 The number of old apartments as
well as new apartment is increasing.
 Competition is high in the market
and most of the organisation is
having a high customer base.
 The rapid increase in cost is a threat
to the organisation.
 Sub-contractors are taking more
charges, as a result, this is affecting
the margin of profit of the
organisation.
Pestle analysis
Political Factors: Canterbury Renovation is aiming to start its business in the UK. The UK is
a politically stable country as well as, the scope of growing business is also high. Another
factor that can be commented in this context is that the government of the UK is funding on
the construction project, as a result, this will create business scope for Canterbury.
Economic Factors: Recently, it has been seen that the GDP of the UK is increasing.
Therefore, it is creating demand for both services and products. This organisation is also
aiming to expand its business and offer diversified services to its customers. One of the
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negative factors for this start-up company is that interest rate in the UK is increasing as a
result, it will be tough for Canterbury to take a loan from a financial institutions. Increase in
percentage of inflation rate implies that there will be a gap in demand and supply of this
industry (nibusinessinfo.co.uk, 2019).
Social factor: Design of construction need to be changed with a change in time as the UK is
having a frequent change in their lifestyle. Another factor is that in order to sustain
Canterbury need to understand the change in the lifestyle of the residents of the UK and many
more.
Technological Factors: Canterbury needs to integrate technology in their business
organisation so, that the business can grow. However, the use of technology is less in this
type of business organisation skill of the employees is more.
Legal factors: Employment laws need to be integrated into the business this will help to hire
skilled employees. Personal information of the employee needs to be protected. This will help
to grow the trust of the employees (uk.reuters.com, 2019).
Documents for the strategic plan and also relevant
In order to set a strategic plan, there are some relevant documents that are required those
documents or section are understanding the vision and mission statement of the organisation.
The second one is understanding vision statement of the organisation, outlining strategies of
the organisation, implementing those plans in business organisation and developing a
relationship between the strategic plan and result related framework (Papke-Shields and
Boyer-Wright, 2017, p.171).
Formulating a strategic plan with objectives
Considering the objective of the organisation and also its vision and mission statement it can
be said that Canterbury needs to understand the demand of the customers and provide them
service accordingly. The reason behind this is that it is the growing stage of the organisation
and in the initial organisation need to provide quality service and satisfy their customers. In
this way, the profitability of the entity can be increased from second year onwards
organisation will be able to arrange fund from investors (Shen, Chen, and Wang, 2016,
p.128). Another strategic plan is staffing plan, the organisation needs to hire experienced
supervisor so that managerial issue can be mitigated. As the organisation is involved in the
renovation and also the decoration of new buildings. Therefore, they need to hire staffs who
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have knowledge of plan and design. As said by Brinckmann et al., (2019, p.174), action
planning needs to be done properly in this context strategic plan need to be implemented.
This will help to set up the organised business infrastructure. Operating budget is another
important aspect, the organisation needs to achieve its sales structure or grow its revenue in
order to make the business sustainable.
Details of each strategy
The time framework that can be implemented in this context is as given below:
Goals of the
organization
Completion date Responsibility Written
description to:
Hiring skilled staffs
for the organisation
Three months Owner of the
organisation
The key authority
of the
organisation
Increasing the
profitability of the
entity
One year All the staffs of the
entity
Key authority or
to the owner
Reducing the
expenses of the
organisation
Three to four months To management
department
All the users of
the entity.
Considering the table above it can be said that the measurement of each goal of the strategic
plan of the entity will be done by setting up the benchmark. Operational budget will be
prepared in two parts in the one-part budgeted statement of the organisation will be provided
and on the other part, the actual budget of the organisation will be mentioned. Priority will be
mainly given to growth and issues of the organisation so, that the entity can run in the long
term in a business organisation. As per the opinion of Brinckmann and Kim (2015, p.154), it
can be commented that benchmark will help to understand performance of the business. Ass
well as, this will also allow to identify factors which is causing issue for the organisation.
therefore, in this way the performance of the organisation can be improved.
Providing Due diligence
Before establishing the business, market research will be done. Market research will depend
on types of service organisation will provide and its implication in the business organisation.
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As well as, the performance of its competitors and cost competitors are providing to its
customers will also be analyzed before setting up the price.
Assessment 2
Arranging the meeting (Role Play)
Employee: Hello, Sir!
Manager: Hello.
Employee: Sir, today I am going to discuss strategic plan of this new set up business
organisation and issues that have been identified.
Manager: OK continue.
Employee: Some of the strategies that needs to be integrated into a business organisation are
integration, diversification, market development and many more. In addition, keeping in view
the goal of the entity it can be said that organisation needs to hire skilled labor and increase
its profitability structure.
Manager: So, what is the issue of the organisation?
Employee: Organisation is mainly facing two kinds of issue that are a managerial issue and
financial crisis. Following these two is lack of premises, this issue can be mitigated by
increasing the fund of the entity.
Manager: So, what are the possible solution in this context?
Employee: Sir, the possible solution in this context is that at first organisation need to
understand its business infrastructure and action of the competitors. After that organisation
need to provide quality service by hiring skilled staffs and the issue of premises can be
mitigated after getting a loan from external sources.
Manager: In which way the action of competitors will help to solve the issue of our business?
Employee: After analyzing the performance of the competitors we will be able to measure
their performance and price they are charging from the competitors in this way we can set our
price at low margin and gain a competitive advantage in the business market.
Manager: All right, the solution and strategy are effective from my perception.
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Employee: Thank you, Sir.
Assessment 3
Highlighting the effectiveness of the strategic plan
A strategic plan is the organisational plan of a business, this strategic plan is set to achieve
organisational goal. As per the opinion of Turner and Endres (2017, p.3), it can be said that
the strategic plan helps in communicating with a different aspect of the organisation. Hence,
the effectiveness of the plan can be measured after the organisation earns its profit. However,
to some extent, it can be said that business set up has been done accurately this makes the
strategic plan successful to some extent.
Reviewing financial outcome
Considering the financial outcome, it or the estimated value of the organisation it can be said
that the financial performance of Canterbury will provide a positive outcome. This positive
outcome of the organisation reflects that business performance will be viable, product able
and profitable. In addition, it can also be said that the organisation will be able to increase its
financial performance in a different aspect. The financial outcome of the entity will be more
viable after completion of one financial year. The financial outcome will be compared with
budgeted performance and actual performance of the entity.
Highlighting underperformance areas
Keeping in view the whole performance of the organisation it can be said that in some of the
aspect Canterbury is having loopholes. However, those loopholes of the organisation can be
mitigated by improving the service quality of the organisation. As per the opinion of Paschen
(2017, p.178), it can be said that entity needs to develop a different strategic plan with the
help of which this issue can be mitigated to some extent. Along with that, the
underperformance area can also be improved by hiring skilled staffs. This will not only
improve the underperformance area but with the help of quality service customer base of the
entity can be improved (McDONALD, 2016, p.109).
Discuss in which way change will be facilitated
Change in the business environment of a newly set up business can be implemented by
understanding the demand of the clients. Therefore, in this way change can be facilitated in a
business environment. As per the view of Parhankangas and Renko (2017, p.217), it can be
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commented that before implementing any kind of change can be implemented after analyzing
the impact of that change in the business environment of the organisation. The key issue that
needs to be improved in the business environment is poor management system. The reason
behind this is that this business is not having any key managerial skills as well as, the
business process is monitored by the owner of the organisation.
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References:
Brinckmann, J. and Kim, S.M., 2015. Why we plan: The impact of nascent entrepreneurs'
cognitive characteristics and human capital on business planning. Strategic Entrepreneurship
Journal, 9(2), pp.153-166.
Brinckmann, J., Dew, N., Read, S., Mayer-Haug, K. and Grichnik, D., 2019. Of those who
plan: A meta-analysis of the relationship between human capital and business planning. Long
Range Planning, 52(2), pp.173-188.
Li, T.M., 2015. Transnational farmland investment: A risky business. Journal of Agrarian
Change, 15(4), pp.560-568.
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice.
In The marketing book (pp. 108-142). Routledge.
Merton, R.C. and Thakor, R.T., 2015. Customers and investors: A framework for
understanding financial institutions(No. w21258). National Bureau of Economic Research.
nibusinessinfo.co.uk. 2019. Strategic planning for business growth. Available at:
https://www.nibusinessinfo.co.uk/content/pestle-analysis-example [Accessed on 20/05/2019]
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics
applied to project management. International Journal of Project Management, 35(2), pp.169-
179.
Parhankangas, A. and Renko, M., 2017. Linguistic style and crowdfunding success among
social and commercial entrepreneurs. Journal of Business Venturing, 32(2), pp.215-236.
Paschen, J., 2017. Choose wisely: Crowdfunding through the stages of the startup life
cycle. Business Horizons, 60(2), pp.179-188.
Shen, Y.C., Chen, P.S. and Wang, C.H., 2016. A study of enterprise resource planning (ERP)
system performance measurement using the quantitative balanced scorecard
approach. Computers in Industry, 75, pp.127-139.
Turner, S. and Endres, A., 2017. Strategies for enhancing small business owners' success
rates. International Journal of Applied Management and Technology, 16(1), p.3.
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uk.reuters.com. 2019. Business Market of UK. Available at:
https://uk.reuters.com/business/markets/uk [Accessed on 20/05/2019]
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