Money Bag Apparel Strategic Plan Research Paper

Length: 5 pages Sources: 5 Subject: Business Type: Research Paper Paper: #44284961 Related Topics: Social Media, Leaders, Transformational Leader, Strategy Implementation
Excerpt from Research Paper :

Mission

The mission of Money Bag Apparel can be best understood in the company’s tag line: “Clothing you like Royalty.” The idea is to make every customer feel like a million dollars when he or she is wearing Money Bag Apparel without the customer having to spend a million dollars.

Vision

The vision of the company is to be making others smile while wearing affordable yet good quality clothing. Money Bag Apparel wants to be the premier clothing line for people who understand the need to look one’s finest. At the same time, people need to be able to buy clothing without spending all their money. Designer brands can run customers deep into debt. Money Bag Apparel’s vision is for everyone to feel great, look great, and not have to spend a great amount of money.

Strategy

The strategy name for this new product launch is “Tell Your Story” and it is going to be about people sharing their personal stories of how their clothing choices changed their lives. This product launch is going to be about setting the narrative in place that clothing does make a difference. It is going to focus on how everyone deserves the chance to look sharp and feel sharp so that he or she can be taken seriously in a world that is full of fierce competition. Just as Steve Jobs used personal stories about how the latest tech changed people’s lives, which created a cult following around Apple products, the “Tell Your Story” strategy is going to be a spin on the “Tell Your Truth” campaign that many people are aligning with today. This launch, however, is going to focus on what it means to actually dress well and to be appreciated for who one is. It is going to focus on how a person’s exterior can be a reflection of the interior thanks to the opportunity that Money Bag Apparel provides.

The strategy’s theme is going to be Narrative. The slogan is going to be: “You are What You Wear.” The way this strategy is going to capture attention is through images at first that will flash on a scroll: a man in a soldier’s uniform from WW2; a professor in professorial garb from the 1960s; a conductor in fine coat at the head of symphony; a worker in overalls; a coach of a basketball team. At the end of these images will come the slogan and it will then show how everyone has to show up wearing something that defines their role to others. The theme of Narrative will show how everyone has a story to tell about why they wear what they wear—from punks to clubbers to professionals to artists to celebrities. They all have a sense of style, and the strategy will include voices from everyday people explaining why they dress the way they dress and what it says about them, how it helps them to define themselves.

Who is Involved for Strategy Implementation to be Successful

The people who need to be involved for strategy implementation to be successful are the marketing team, sales reps, customer surveyors, social media influencers, and product design…Everyone is tuned into social media platforms such as Twitter and Facebook, even people system-wide. Elon Musk, CEO of Tesla, uses Twitter to communicate to his audience worldwide and he uses internal emails to communicate internally to his workers. Sometimes emails are leaked to the worldwide audience just to show how focused the company is on meeting objectives. The key to successful buy-in is to have a two-tier strategy of communication channels. The first tier is going to be social media because this is the digital equivalent of a global bullhorn that gets the message out as far and wide as possible. It is what lets consumers know what is happening and what the company is planning to deliver.

The second tier is the internal communication channels of the company, which allows the CEO to communicate with workers to ensure that they are all aligned in terms of vision and mission and values. That is why email is so crucial because a simple message can be sent to everyone at once but only to those are connected via the internal system of communication. Some messages should stay in-house and others can be for the external public.

Each channel must come with its own message orientation. Social media messages will have to be pithy and short and focused on delivering to consumers a bright sense of the product. For workers inside the company the aim will be to deliver motivating messages that help them to want to achieve the goals that have been set out for them. The more focused and streamlined each channel can be the…

Sources Used in Documents:

References

Buch, R., Thompson, G., & Kuvaas, B. (2016). Transactional leader–member exchange relationships and followers’ work performance: The moderating role of leaders’ political skill. Journal of Leadership & Organizational Studies, 23(4), 456-466.

Coetzer, M. F., Bussin, M., & Geldenhuys, M. (2017). The functions of a servant leader. Administrative Sciences, 7(1), 5.

Diebig, M., Poethke, U., & Rowold, J. (2017). Leader strain and follower burnout: Exploring the role of transformational leadership behaviour. German Journal of Human Resource Management, 31(4), 329-348.

Hamdani, M. R. (2018). Learning how to be a transformational leader through a skill-building, role-play exercise. The International Journal of Management Education, 16(1), 26-36.

Hunter, P. (2020). The growth of social media in science: Social media has evolved from a mere communication channel to an integral tool for discussion and research collaboration. EMBO reports, 21(5), e50550.

Oke, A. E., Ogunsemi, D. R., & Adeyelu, M. F. (2018). Quantity surveyors and skills required for procurement management. International Journal of Construction Management, 18(6), 507-516.



Cite this Document:

"Money Bag Apparel Strategic Plan" (2020, December 07) Retrieved April 12, 2021, from
https://www.paperdue.com/essay/money-bag-apparel-strategic-plan-research-paper-2175849

"Money Bag Apparel Strategic Plan" 07 December 2020. Web.12 April. 2021. <
https://www.paperdue.com/essay/money-bag-apparel-strategic-plan-research-paper-2175849>

"Money Bag Apparel Strategic Plan", 07 December 2020, Accessed.12 April. 2021,
https://www.paperdue.com/essay/money-bag-apparel-strategic-plan-research-paper-2175849

Related Documents
Strategic Plan- Sweet Reads Since Its Inception,
Words: 1081 Length: 3 Pages Topic: Business Paper #: 16550968

Strategic Plan- Sweet Reads Since its inception, Sweet Reads has supported a vision of providing excellence in service from exceptional employees. Sweet Read is committed to: Responding to consumers' needs efficiently and exceeding their expectations, Providing competitive pricing, and III. Providing the highest level of on-the-job training to the staff This will earn Sweet Read a reputation of consumer satisfaction and loyalty. Since its formation, the company has worked tirelessly to differentiate itself and

Strategic Plan, Part III: Balanced
Words: 1019 Length: 3 Pages Topic: Business Paper #: 65653896

In order to measure the success of customer perspective aspects like returned orders, number of new customers, number of complaints, market share, customer satisfaction index among others will be assessed. Process or Internal Operations Perspective Currently, Tiffany Event Management Company is performing well but needs to improve in the future with the changing world. The internal operation ought to increase by 9% by the end of the predetermined time in order

Strategic Plans for Different Age Groups Mission
Words: 977 Length: 3 Pages Topic: Business Paper #: 73777413

Strategic Plans for Different Age Groups Mission statement for the company Our mission will be to create innovation and inspiration to each athlete on the planet. Looking at this mission statement, we seek to be an organization that surpasses all others in the athletic business. We will uphold our position by furnishing quality footwear, equipment and apparel to foundations and distinctive customers of all ages and lifestyles (Thompson, 2013). We promise to

Strategic Plan in an Organization: This Discussion
Words: 2437 Length: 6 Pages Topic: Business - Management Paper #: 65053363

Strategic Plan in an Organization: This discussion entails an implementation for the Office of Payroll Administration's Strategic Plan for the three years, starting 2010 to 2012. The report covers issues of payment and compensations for employees and other programs in addition to processes of tax holding within the organization. With respect to these roles, the discussion aims to provide a clear picture of the implementation process of these strategies together with

Strategic Plan for Non-Profit: Human Rights Campaign
Words: 1567 Length: 6 Pages Topic: Women's Issues - Sexuality Paper #: 89208295

Strategic Plan for Non-Profit: Human Rights Campaign (hrc) The Organization The Human Rights Campaign (HRC) describes itself as the civil rights movement that is largest of all and that is striving to realize equality for individuals who are gay, lesbian, bisexual and transgender Americans. The Human Rights Campaign was founded in 1980 and is reported to act as advocate for LGBT Americans through mobilization of actions in local communities and through strategic

Strategic Plan Parts IV and V.
Words: 2002 Length: 7 Pages Topic: Business - Management Paper #: 85954843

Strategic Plan With any shift in strategy, there are barriers that need to be overcome. There are a number of potential sources of change resistance and business literature has studied these for a long time. These can be poor communication of the strategy, self-interest, feelings of exclusion, lack of trust in leadership, and a lack of skills or training to implement the changes (Brookins, 2013). Within the organization, it is the