Strategic Plan, Part II: - Term Paper Example

Goals The organization will work towards achieving their stated goals of offering nutritious and affordable products; thus will serve as their strength to improve business performance. Stanley (62) argues that setting organizational goals are among the effective aspects in strategic planning process. Therefore, the company will implement strategic goals that will align with the mission and vision of the organization; hence achieving successful business performance. Weaknesses Culture The cultural aspects in the business environment may affect business activities.

This is because culture is unavoidable in any business environment, and every organization has its own cultural aspects that determine the way they carry out business activities. However, given the current situation in the new business, the company can employ effective strategies for improving organizational behavior. Structures Given that the business is new, the organization may not be well structured; thus others will perceive it as a weakness in the organization. Therefore, the company will create consistent across the organizational structure.

External Forces External Forces Opportunities Innovation The company will utilize technology in producing innovative products or services that differentiate them from other fast food industries. They will also utilize technology in product distribution, and carry out marketing research in order to determine the consumption behaviors, and the way customers will perceive their services in the new market. Threats Competition analysis Other industries offering similar products and services will employ unique strategies to compete with the business.

This will impact business performance because of increased competition level, thus a threat to the company. Social The social trend in consumption patterns will impact the business performance. This is especially the social status of various customers towards consumption levels of different products. Economic Legal and Regulatory Forces Economic aspects are among the determinant factors for competition in the business atmosphere where an organization operates (Stanley 127). For instance, social aspects such as the employment, inflation rate and fiscal policies may determine the competitive level of business.

For instance, unemployment level may hinder the company from achieving their stated goals because of increased poverty levels. The society can also consider the cost of economic activities that it may pose risks to the environment in case the company pollutes the environment. Thus, the environmental cost may augment or lead to increased price of maintaining the environment; thus increasing the production cost. This will affect the performance of the company because it will incur heavy economic cost of using technology at the cost of achieving a competitive advantage.

Legal and regulatory aspects are among the external aspects that can pose risks or create challenges to business performance. The internal revenue service may implement legal and regulatory factors that may be difficult for the company to follow such as high tax refunds. This may hinder effective organization performance because they will lead to higher credit risk and higher tax rates. Moreover, limited access to the legal system may impact the performance of business in the environment where it operates business.

Ways the Organization Can Adapt To Change One way that the company can adapt to change is to employ effective strategies for managing and creating cultural