Crafting and Executing Strategy Essay Example

the business, attract and satisfy customers, and achieve successful competition in the market (Thompson, Strickland & Gamble, 2009). The company's strategic plan helps identify competitive moves, business approaches, operational plans, and targeted levels of organizational performance over time. According to Thompson, Strickland & Gamble (2009), key elements of a successful strategy include one or more strategy elements that attract customers and build a lasting mission essential to the company's success. A mission statement can reflect short-term goals or long-term aspirations, conveying the company's value and inspiring employees while remaining reasonable, specific, and relevant.

A clear mission statement is crucial for any company. It should be descriptive and explain the company's products and services, as well as its position within the industry. FruitSy Trends' mission is to provide fresh fruit to customers in New York City at affordable prices. They pride themselves on having the largest and healthiest selection of fruits and vegetables available to their customers, regardless of the season. A mission statement is important because it helps create goals and standards for a company to maintain throughout its operations and strive for on a daily basis. To support the company's mission, they should have a vision statement. In addition, a company's core values often guide their pursuit, with many developing a statement to define their vision/mission strategy.

Although a mission statement and a vision statement have distinct meanings for a company, they can still complement each other and work towards the overall objective. Often, elements of both statements are merged to express the company's goals, purposes, and values. While a vision statement outlines a company's future plans and business scope, a mission statement defines the company's

identity and position. A vision statement may declare mid- or long-term goals for a company's future (lacobucci D., 2010).

A vision statement outlines a company's goals and aims, varying in length from one line to several paragraphs. FruitSy Trends aims to transform the way customers purchase fruit by offering the greatest selection of fresh produce, exceptional customer service, a relaxing ambiance, and the most competitive prices in NYC, expanding throughout the east coast for a healthful experience. To ensure company growth and prosperity, it is imperative to effectively communicate the mission and strategic vision. This entails establishing five (5) key objectives incorporating operational, financial, and human resource aspects that must be in place for strategies to be put into action (Entrepreneurial Media Inc., 2011).

FruitSy Trends has five main key objectives which include operational, financial, and human resource aspects. These objectives are set by the management team to convert the strategic vision into performance targets that will help achieve desired outcomes. The five objectives are as follows: (1) Achieve an annual organic growth in revenue of at least 10%; (2) Maintain a healthy free cash flow while achieving organic growth; (3) Focus on operational objectives such as timely delivery, keeping promises to customers and suppliers, and providing customers with the freshest selection of fruit to maintain integral relationships; (4) Develop the best variety of fresh fruit selection in the NYC metro area; (5) Maintain an open-door policy between managers and associates to encourage fresh thinking and innovative ideas. By clearly identifying objectives, the mission and vision statements of the company are supported, and strategies are established for all parties to identify short-term and long-term goals of

the company.

In order to offer the freshest selection of fruits and vegetables, particularly fresh fruit regardless of the season, a grocery store, such as FruitSy Trends, has outlined five key objectives that provide insight into their overall goals. These objectives combine elements of mission and vision statements to establish the company's purposes, goals, and values. By achieving these objectives, the company can realize its envisioned growth, values, employee contributions to society, and more. Founder self-reflection is essential for developing and sustaining a meaningful vision. A successful strategic plan should entail clear objectives, a concise mission, and vision strategy. (Thompson, Strickland & Gamble, 2009).

In this paper, the author argues that strategic planning is a crucial component for a company's growth and success. The author creates a mission statement for FruitSy Trends and explains how it will be vital to the company's success. A vision statement is also established, along with five key objectives covering operational, financial, and human resource aspects of the business. The author justifies why each of these objectives is necessary for the success of the business and how they support the mission and vision statements. The paper concludes by tying together all the points made throughout the paper.

References: https://www.entrepreneur.com/encyclopedia/target-market