Strategic Plan for Elite Cabinetry: Business Development Project

This project presents a strategic plan for Elite Cabinetry, a start-up cabinet-making business. The plan includes the company's mission and vision, organizational values, and an analysis of competitor strengths and weaknesses. A detailed SWOT analysis is provided, along with a discussion of a potential cooperative venture. The project includes internal and external market analyses, covering political, economic, social, and technological factors. The strategic objectives focus on increasing customer numbers, enhancing product quality, and boosting sales. Strategies include improving product quality, implementing a mailing strategy, and utilizing social media marketing. Supporting documents such as annual reports, technology assessments, and business plans are also discussed. The project aims to help Elite Cabinetry attract more consumers and achieve its sales targets.

PROJECT-STRATEGIC PLANNING

Table of Contents
INTRODUCTION...........................................................................................................................1
STRATEGIC PLAN........................................................................................................................1
Mission and Vision.....................................................................................................................1
Organizational values..................................................................................................................1
Strength and weakness of potential competitors.........................................................................1
SWOT analysis of Elite Cabinetry..............................................................................................1
Cooperative venture....................................................................................................................2
Internal and external analyses of company.................................................................................2
Documentation of relevant research and background.................................................................4
Formulation of strategic objective..............................................................................................4
Detail of strategy.........................................................................................................................4
REQUIREMENT OF SUPPORTING DOCUMENTS...................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Present report is based on the Elite Cabinetry which is start-up cabinet making business.
Current assignment will develop a strategic plan for cited firm, which can support in aspiration
of entity (TECHNICIANS, 2010). Furthermore, it will discuss the plan with the supervisor and
will get approval of this implementation plan.
STRATEGIC PLAN
Elite Cabinetry is the international brand which provides cabinet installation, repair,
kitchen materials to the customers.
Mission and Vision
Mission:
Mission of the Elite Cabinetry is to deliver high quality products within set budget and provide
faster and quality free ordering services to customers. Quality and culture improvement is the
main mission of the cited firm (Kiran, 2014).
Vision:
To provide quality services to customers as per their need and requirement in the custom
homebuilding market.
Organizational values
Elite Cabinetry works professional and uncompromising integrity is the value of cited firm.
It pays attention on innovation, creativity and creating friendly environment. Wherever changes
requires company make modification in the system willingly (Furniture Manufacturer Business
Plan, 2017).
Strength and weakness of potential competitors
Strength of competitors Weaknesses of competitors
 Large market share
 Highly efficient team
 Low manufacturing cost
 Confusing service policies
 Poor involvement of employees in
decision making process
SWOT analysis of Elite Cabinetry
Strength:
 Loyal and motivated employees are the
Weakness:
 Limited product availability is loop all
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main strength of the Elite Cabinetry.
 Product innovation is another strong
point of the company. It helps the entity
in meeting with the needs of
consumers. High integrity and good relationship
with consumers is main strength of the
organization.
of Elite Cabinetry.
 Poor quantitative goals are another
weakness of the entity.
 Inadequate product/ market
development strategies.
Opportunities
 Economic growth Increase interest of consumers for home
building
Threats
 Economic changes is major threat for
the Elite Cabinetry because due to this
consumers purchasing power can get
affected which impact negatively on
business revenues.
 High competition
Cooperative venture
Elite Cabinetry should merge with Trestle Creek Cabinets, it will support in both risk
assessment and cost benefit analysis.. Because this form has strong risk management strategies
and has strong control over its cost (SHOWCASE, 2009).
Internal and external analyses of company
It is essential for the company to analysis its internal and external market, it can support
in identifying the situation and making effective strategies in order to meet with the objective.
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Illustration 1: PEST analysis
Source: (Smith, 2013) Political environment: Political condition impacts on entire home building market to
great extent. Changes in laws, legislation, political situation directly impact the industry.
If government makes changes in the property tax and laws then it will affect business to
great extent. Economic: It is major issue that impacts directly and indirectly on the business unit. If
economic condition of the nation is decreasing then Elite Cabinetry will not be able to
operate its business effectively. It will affect buying behaviour and people will not take
interest in construction and purchasing equipments. On other hand if economic condition
is good then it will increase profit of the company. Social: Buying behaviour, life style, perception of society members impact on the
business unit (David, 2011). If people are not satisfied with the products and services and
if their perception towards the brand is negative then they will not buy its products. Thus,
it will affect the industry and business as well.
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 Technology: Continuous changes in the technology impact on the internal and external
environment of the company. Because if new and advanced technology come in market
then Elite Cabinetry will have to adopt it which will increase its cost and cited firm ill
have to train its staff members as well.
Documentation of relevant research and background
With the help of this business plan Elite Cabinetry will be able to get sales of 442000 in
first year, 1000000 in second year (Huang, 2009). Net profit of the entity will get increased
2.74% in next year and 5.96% in third year.
Formulation of strategic objective
Objectives:
 To increase number of customers by 35% till the end of 2018.
 To enhance product quality and increase number of products for different types of
consumers in the homebuilding market. To increase sales of the cited firm by 30% till the end of 2018.
Strategies:
 By improving product quality and maintaining the services Elite Cabinetry will be able to
gain competitive advantage. That will support in attracting more consumers towards the
brand.
 Elite Cabinetry should adopt mailing strategy to increase its sales volume. It should
communicate with the target audience through social media marketing. By this way
company will be able to identify needs of consumers and will be able to innovate its
products which will support in meeting with their needs (Short and et.al, 2013).
Detail of strategy
Strategy Priority Time frame Responsible party Measurable
performance
indicators
Improving
product quality
and maintaining
the services
Moderate 2 months Product
development
manager,
marketing
Sales volume,
profit ratio,
complains arise
within specific
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manager,
technical manager
time period,
product quality
Mailing strategy
and social media
marketing
High 3 months Marketing
manager
Sales volume,
creditors,
customer review
REQUIREMENT OF SUPPORTING DOCUMENTS
Strategic planner has to conduct the meeting with the supervisor for getting approval for
the strategic plan.
Use of social media marketing will be beneficial for the company because by this way
Elite Cabinetry will be able to know about the consumers requirements and will be able to
improve its existing products accordingly. It will enhance satisfaction level of customers and will
make them loyal towards the brand. By this way cited firm will be able to achieve its target of
increasing 30% sales volume by the end of 2018. This strategies plan will help the entity in
attracting more consumers and strengthening its strong points and minimizing the weakness
(Mission, Vision & Values, 2017).
For implementing the strategic plan Elite Cabinetry will require annual report of previous
years, technology adopted by firm recently and report of performance of these equipments,
Report of business plan, approval from higher authority, staff concern report, contingency
planning report. All these documents will help in successfully implementing the strategic plan
and meeting with the objective of Elite Cabinetry.
CONCLUSION
From the above report it can be articulated that Elite Cabinetry is performing well but it is
required to make some innovation in its products so that it can attract more consumers and can
meet with their specific needs. For that entity needs to effectively use social networking sites and
has to adopt email strategy.
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REFERENCES
Books and Journals
Kiran, N., 2014. A Study of the Composition of Federal Cabinets: 1947-1977. Journal of
Political Studies. 21(1). pp.135.
SHOWCASE, C.T., 2009. Showcase preview. British Dental Journal. 207(8). pp.389.
Smith, R.D., 2013. Strategic planning for public relations. Routledge.
David, F.R., 2011. Strategic management: Concepts and cases. Peaeson/Prentice Hall.
Huang, H.C., 2009. Designing a knowledge-based system for strategic planning: A
balanced scorecard perspective. Expert Systems with Applications. 36(1). pp.209-218.
Short, M. and et.al., 2013. Strategic environmental assessment and land use planning: an
international evaluation. Routledge.
TECHNICIANS, C.E., 2010. New products and focus on profitable practice and dental
laboratories. British Dental Journal. 209(7) pp.361.
Online
Furniture Manufacturer Business Plan, 2017. [Online] Available through:
<http://www.bplans.co.uk/furniture_manufacturer_business_plan/financial_plan_fc.cfm>.
[Accessed on 13th September 2017].
Mission, Vision & Values, 2017. [Online] Available through: <http://www.eliteps.com/mission-
vision-values-elite-services/>. [Accessed on 13th September 2017].
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