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Creative Business/Green Luxe

In: Business and Management

Submitted By ZullyGarcia
Words 1576
Pages 7
Strategic Objectives
Green Luxe – Restaurant

Business Policy and Strategy
April 10, 2012
Zully Garcia, Michelle Gascon, Katrina Gomez,
Jessica Musleh, Joanna Olmos

Role: CEO
Objectives:
 Establish relationships and network with our competitors  Find the best location to open our restaurant  Keep up with new healthy trends  Find new ways to increase our profits  Eventually open more locations
Strategic Plans:  Relationships: Green Luxe wants to offer their customers items that they can’t get anywhere else. By building relationships and networking with our competitors we would be able to have inside information on what these competitors do and don’t offer their customers. This will enable us to attract more customers to our establishment because we would be offering a larger variety of food.  Location: Where we decide to open is a very important aspect of our business. We have to decide where we should open by staking out certain areas to see where people are more health conscious. Our food is healthy and locally grown so we need an area where these things are valued.  Keep up with trends: Green Luxe strives to serve their customers what they want when they want it. This means keeping up with new trends and knowing exactly what people are looking for when it comes to eating outside food. By making sure we offer what it is our customers want we guarantee ourselves good relationships with them and we can be sure that they will return.  Raise Profits: We need to be aware of what it is that our customers tend to order. By seeing the trend in our customers we can begin to create similar products just differing in small ways from what already exists. By offering more of what our customers want we can be sure that we are fulfilling their wants and because of this they will return regularly which guarantees us higher profits.  Open more locations: Green Luxe would eventually like to open new locations in different areas. By evaluating our existing establishment and seeing what kind of customers we attract we will be better able to expand into other areas. We need to look into other locations that attract the same type of people as our existing customers in order to make the choice that won’t affect us in a bad way.

Role: Human Resources Director
Objectives:
 Recruit and retain strong employees to obtain a low turnover rate.  Foster employee development by investing in training and development programs to further our employee’s education.  Promote work life balance to obtain higher morale, loyalty to the restaurant, and positive attitude.
Strategic Plans:  Recruit: Green Luxe not only wants to be the employer of choice for potential candidates but also the employer of choice of employees our customer’s would choose. We would like our own customers to set the criteria for who we hire. This would be done by choosing some of our best customers and showing them our performance appraisal form. We would then ask if we are measuring the behaviors and outcomes that they would like to see most in our employees.  Retain: Retaining highly qualified employees is essential because high turnover costs Green Luxe in time and productivity. Specific strategies to retain qualified employees are competitive benefits packages that meet their needs, small perks such as discounted dining at the restaurant, promote from within the organization, and use contests and incentives to help keep employees motivated and feeling rewarded.  Employee Development: Successful employee training delivers improvements in employee performance which in turn, creates a better performing business and an improved bottom line. We will develop programs that are focused around food safety, productivity, technology, management skills, etc. to further our employee’s education and make them the best possible Green Luxe representative’s possible.  Work Life Balance: Green Luxe understands that people work better when they can balance their work and other aspects of their lives. Therefore, it is committed to creating a work life balance program that will enable employees to have flexibility in the workplace. Green Luxe will create a program that provides workplace flexibility such as alternative work schedules, leave for family purposes, support for care giving, and health care flexible spending accounts.

Role: Marketing Director
Objectives:
Short-Term  Aim to achieve a market share of 10%  Aim to achieve 25% customer awareness of our brand in our target markets  Aim to build customer database of at least 100,000 households
Long-Term
 Create awareness of nutritious food that fits consumers’ diverse and healthy lifestyles  Inform target audience about the benefits of our products, leading to a 10% increase in sales  Aim to achieve 75% customer awareness of our brand in our target markets  Aim to achieve 500,000 households
Strategic Plans:  Market Share: Green Luxe wants to achieve a 10% market share. In order for Green Luxe to achieve 10% of the market share, it needs to understand the latest preferences of its target market. Green Luxe will be able to measure its success by monitoring the overall value of sales in terms of dollars. Green Luxe wishes to achieve 10% of the market share in 12 months.  Inform: Green Luxe understands the importance of informing its customers of the benefits Green Luxe has to offer. Green Luxe will describe in detail the various features of its products and its benefits to its health conscious consumers through ingredient label, pamphlets, its website and other tools. Informing its consumers of the various features and benefits of its products, Green Luxe will measure its increase in sales.  Awareness: Green Luxe understands the importance of maintaining a healthy lifestyle. Green Luxe will advertise in various health conscious blogs and magazines. Consumers will be offered a “code” in which will allow them to receive 10% off their meal. Green Luxe will measure its increase of awareness with the amount of time the code is used.  Branding: Green Luxe wants to be one of the leading health conscious restaurants in its area. Green Luxe understands the importance of brand recognition. Green Luxe wishes to achieve 25% customer awareness of its brand in its target market. Green Luxe will measure the change in the percentage of new visitors to its website.

Role: Product Purchaser
Objectives:
Short-Term:  Negotiate contracts with product suppliers  Establish relationships with suppliers  Establish a routine for managing product inventory
Long-Term:
 Keep up with the restaurant's target market changes
Strategic Plans:  Establishing Relationships and Contracts: Establishing a good relationship with suppliers helps in securing product delivery and quality in products. When negotiating a contract having good rapport with the supplier can help when during the price negotiation in products.  Managing Product Inventory: Setting a standard routine for managing product inventory can help the restaurant in maintaining a sufficient amount of product for the restaurant to operate in normal conditions. Establishing an effective routine is important because ordering too much inventory can hurt the restaurant. When more inventory is ordered than what is needed, money is wasted and product is often thrown away, particularly in restaurants when inventory such as food has a limited shelf life. When a shortage of inventory is ordered for restaurants, it affects the amount of dishes the customer is able to order. Maintaining a standard inventory routine can help the restaurant operate without any interruptions, and this should be established within the first six months of operation. * Keeping up with Trends: Although the restaurant will have a set menu with organic, healthy dishes, this does not mean that the restaurant should stick with the same menu throughout its operation. The restaurant's target market it the health conscious consumer. Trends change and new products, ideas, and taste are always emerging. A key aspect to the success of any business is to always keep evolving into these new trends. Keeping a close eye on what our target market likes and prefers can be a major aspect to determining the restaurant's success rate. Role: Financial Representative / Accountant
Objectives:
* Hire accountant(s) to organize and help manage profits. * Growth in revenues * Growth in earnings * Wider profit margins * Bigger cash flows * Attractive economic value added performance * Attractive and sustainable increases in market value added * A more diversified revenue base (i.e. larger menu, more states)

Strategies: * A bigger market share: Reaching out to a bigger market share should be one of our primary strategies because we need people to eat at our restaurant if we plan to continue growing and become a “Star” in the BCG Matrix. A larger market share also means more revenue. * Lower costs relative to key competitors: We need to try to purchase the lowest cost locally grown produce and meat so that our prices are not as high as some of our competitors. Although Green Luxe will be a high end restaurant, we still need to keep in mind that lower prices and high quality product will help increase our market share. * Dominate market niche: Our primary market niche will be Generation Y. Gen Y are just recently starting to work and thrilled to begin a “new life” as college graduates. They are also eco-friendly and looking for new ways to eat healthy. At this time, Generation Y is the target to shoot at right now because they have become America’s largest generation by surpassing the Baby Boomers. Over the next 20 years, it is estimated that this 77.4 million-people group will continue to grow even more because of the large number of immigrants arriving in the United States.…...

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