Strategic Plan- Sweet Reads Since Its Inception,

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 adapt to the fast-paced market dynamics. Its adaptation of the balanced scorecard has made it what it is now. Through concentrating on key areas of the scorecard, Sweet Reads will continue to build and improve its vision, employee satisfaction, customer satisfaction, internal business operations and its financial position.

With its operations in the fast foods and books industry, Sweet Reads has a challenge of differentiating itself from other contenders. This is its biggest barrier in its business strategy. Competitors like Taco Bell and KFC offer a challenge for Sweet Reads and makes it hard for profit potential. Although these competitors do not necessarily offer the same products, they are a source of competition in the area of cost reduction. Health consciousness has become a key aspect regarding competition. Customers are now settling on healthier choices like salads and sandwiches. Sweet Reads has attempted to rise above by introducing healthier items on its menu and eliminating items such as Hamburgers, which promoted an unhealthy lifestyle (Tonchia & Quagini, 2010). In an effort to increase innovation and differentiation, Sweet Reads has introduced premium coffee beverages at reasonable prices. This new division provides existing and new customers different products and a different experience, which will set the company apart from its competitors.

Sweet Reads uses numerous suppliers across the world to provide products to their restaurants. The company's suppliers include Simplot and Golden State Foods. All Golden State Foods' outlets use the same raw materials from the same suppliers. Customers can enjoy the same brands whether they are in China, Beijing or Rochester. This is the foundation, which the company has encouraged consistency among its restaurants and bookstores. The company depends on its suppliers in providing the highest quality products to clients. Manufacturing and shipping these products across the world is the whole business of these suppliers. If Sweet Reads wants to lose its suppliers, it would have to change its product lines and altogether its menu (Blokdijk, 2008). This has given its suppliers a vast amount of bargaining power. Sweet Reads can use the five-industry analysis device to evaluate its strategy. Through eliminating the chances of losing business to its rivals, being aware of potential entrants, equivalent products and losing suppliers, Sweet Reads will continue to differentiate itself while maintaining relationships with customers, employees and suppliers.

Sweet Reads trains its employees to enhance customer services. The aim of the training is to offer consistency in quality and service in all its outlets across the world. By focusing efforts on managers to insist on consistency, integrity and Sweet Reads' vision, the company will earn a competitive advantage in the industry. Additionally, the company sponsors advanced management training to ensure the success of managers. Follow-ups are conducted on employees with the aim assessing the effectiveness of the training programs. The company also uses mystery shoppers in its bookstores and cafes to ensure the vision of Sweet Reads is upheld and that training programs are effective (Biazzo & Garengo, 2011).

To enhance their profitability, Sweet Reads is also working on improving efficiency and speed in their bookstores and cafes. The project to enhance speed emerged because of using the warps, which were slowing speed times because the proportions of these products required developing new techniques. Other factors pushing for the increased efficiency and speed at the cafes and bookstores are the slowing economic conditions making customers eat at home than cafes to save money. By making sure that Sweet Reads is producing the highest quality items with exceptional efficiency and speed, the company will give itself the best opportunity to retain its customers. Promoting quality products and services along with cost leadership is what makes Sweet Reads rise above its competitors (Blokdijk, 2008).

Sweet Reads works tirelessly to increase its profitability. It supports employee training and development for the sake of product innovation. When the company introduces a new product, it works to evaluate whether the item is worth marketing. Hardware and software technologies have been introduced to assist circuit lines by getting workers out from behind the counters and making the ordering process much simpler (Eichler, 2010). These enhancements will assist in reducing the wastes of ordering and waiting while making customers come back to enjoy a quality meal at unique speed and delivery time.

Sweet Reads focuses on key areas of opportunity from the scorecard. From a financial point-of-view, Sweet Reads likes to focus on sales and profitability. From the perspective of the customer, the key areas of focus are drive thru service and mystery shoppers. From the growth and learning perspective, employee turnover and commitment are the key areas of focus. Employees must see all these areas and maximize the potential of the scorecard. From the financial perspective, Sweet Reads has to improve its market share and production speed. This will maximize its productivity (Biazzo & Garengo, 2011).