Strategic Business Plan
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Huffman Trucking Company
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The Board of Directors approved your Strategic Business Plan Outline, but now wants your executive team to create a long-term Strategic Business Plan for sustaining organizational performance. For examples of Strategic Plans access any major corporation's Web site or MarketLine Business Center in the University of Phoenix Library and refer to the Management's Discussion and Analysis of Financial Condition and Results of Operations.
In the Business Plan, expand on the area identified in the Business Plan Outline as critical to the organization and provide an in-depth description of the Strategic Plan for those areas.
A classification of the company's stakeholders.
I. Stakeholders
A. Identify the stakeholders
B. Classification of Stakeholders
1. High Influence
2. Low Influence
3. Classify the stakeholders as applicable to Huffman.
II. Marketing Plan
A. Effective continuity plan for customers
B. Guarantee Deliver
C. Effective Communication Plan
D. Advertising Plan
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Solution Summary
In the Business Plan, expand on the area identified in the Business Plan Outline as critical to the organization and provide an in-depth description of the Strategic Plan for those areas.
A classification of the company's stakeholders.
I. Stakeholders
A. Identify the stakeholders
B. Classification of Stakeholders
1. High Influence
2. Low Influence
3. Classify the stakeholders as applicable to Huffman.
Solution Preview
Stakeholders:
The various stakeholders of Huffman trucking include the company's shareholders, investors, creditors, top management and employees, vendors and suppliers, customers, society and government. The high influence stakeholders of Huffman are the organization's owners/management and employees, vendors and customers as well as investors/creditors. These people are directly affected by organization's actions and thus, it is very important for Huffman to give priority to such stakeholders of the organization. Stakeholders like owners, shareholders and creditors are directly affected by the profitability and growth of the organization as their money is invested in the business. Similarly, the employees of the organization are also directly affected as their earnings and salary is dependent on the organization. Similarly, customers and vendors are also directly affected by organization's actions and have a very high influence on organization's strategy and actions.
The low influence stakeholders can be society and public as well as government as these stakeholder groups indirectly affect organization's actions and strategy and organization's action plans have an indirect effect on these stakeholders.
Marketing Plan:
A. Effective continuity plan for customers:
A continuity plan should be implemented by the company to ensure that the existing customers keep on coming back to Huffman and become loyal to the company. In other words, a continuity plan would ensure strong customer retention ratio for Huffman. In today's customer centric business environment, continuity plans have become ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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