strategic planning in retailing pdf

View 5.0 Retail Market Strategy.pdf from RTL 1513 at BERJAYA University College of Hospitality. The chapter briefly defines strategic planning and outlines some benefits that can be gained from the process and its product: the strategic plan. 0000008423 00000 n STEP 3. Strategic Planning and Management in Retailing helps retail businesses develop the effective strategies and dynamic leaders needed to compete and win in the global retail marketplace. There is a growing demand for a apparel store that caters to the African-American cowboy community in Houston Texas. O;��/��b�0 a��a In-store marketing typically consisted of flashy product displays, special end-of-aisle promotions, and attention-grabbing packing on the shelf. In the UN, strategy is often about Big retailers like Wal-Mart and Target … QO�?�{X~Y~l��~��|P@��r\(��S^��^+?�p\��-�f However for an efficient strategic management 0000019644 00000 n 0000001716 00000 n %PDF-1.5 %�� The entire strategic planning, implementation, and control process takes significant effort and thought. H�LV�n$4��W��qb;�j��"qA��BjY��y�ɔ^:�Ǝ�;��?]_ʻw��)��Q}�YËĨK��Q��_�,�?|��w��˥�VLz��. 0000034007 00000 n 0000027134 00000 n ��8��M��T��,��=d: ��!�) �4�H?b�/��@�� (3) A sample strategic planning template, which shows how a hypothetical … Components of Strategic Planning In most endeavors, a well-defined plan of action can mean the difference between success and failure. h�b```�]l�� The list below describes each piece of a strategic plan in the order that they’re typically developed. H�DP�N�@}߯8�`��K/k�I[�b 6��@��K�5��;��M&3�s��Ͳ��ˬ��z��2��A�֛r��}��y^�`�� 0000019763 00000 n 0000016906 00000 n Strategic Planning in. 2. CHAPTER 3 STRATEGIC PLANNING IN RETAILING CHAPTER OUTLINE 1. 0000012150 00000 n ��w�G� xR^��[�oƜch�g�`>b��$��*~� �:��E��b��~��,m,�-��ݖ,�Y��¬�*�6X�[ݱF�=�3�뭷Y��~dó ��t��i�z�f�6�~`{�v��.�Ng��#{�}�}��j��c1X6��fm��;'_9 �r�:�8�q�:��˜�O:ϸ8��u��Jq��nv=��M��m��R 4 � Strategic change needs planning as a lot of issues arise and need to be solved. and actions items with those currently in the plan. 403 0 obj <> endobj xref 0000001076 00000 n It is the process of specifying the organization’s mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. Strat… H��yTSw�oɞ��c [��5la�QIBH�ADED��2�mtFOE�.�c��}��0��8�׎�8G�Ng��9�w��߽�� '��0 �֠�J��b� . h��T[O�0�+~�f;��DB��@� n�3ܣ�k�Gݯz=��[=��=�B�0FX'�+��t��G�,�}��/��Hh8�m�W�2p[��AiA��N�#8$X�?�A�KHI�{!7�. We note the value of strategic planning and include a detailed review of Loblaw’s. 0000013818 00000 n Prepare to plan. Babson Executive Education’s Strategic Planning and Management in Retailing program empowers you to successfully capitalize on changes in }И��2��C��g�)��3��H��y�d�� Highlights the importance of a good knowledge of consumer basis as a foundation for a successful retailing strategy. �x��- ��[�� 0��}��y)7ta��>j��T�7��@��tܛ�`q�2��ʀ��&��6�Z�L�Ą?�_��yxg)˔z��çL�U��*�u�Sk�Se�O4?׸�c��.� � �� R� ߁��-��2�5�� S�>ӣV��d�`r��n~��Y�&�+`��;�A4�� A9� =�-�t��l�`;��~p�� Gp| ��[`L��`� "A�YA�+��Cb(��R�,� *�T�2B-� 0000017883 00000 n 0000023076 00000 n Mission statement: The mission statement is an overarching, timeless expression of your purpose and aspiration, addressing both what you seek to […] ۓ��G��P��5� �N��NaP�gz m�1I��MmB�0pylH��*m��F�vL� g�垯3.��͊�� r/tLc�Њ��)��jr+��Y �P QZK��n�ǣPV�M��]�6=��v'��>�zA牃��8EwaO��}�`�;�]/��r�]w��+Z*�6�WDu�#��Ll�趬Ʌ�YS'm��;28��$�t%HѾ�g��O� �n�� $��A*@��5��fc`b�I�q��0 v The program curriculum provides a strategic look at the best methods to win in the highly competitive retail sector. 0000018890 00000 n 0000014310 00000 n The global retail industry is continuing to evolve and become increasingly competitive. N'��)�].�u�J�r� Within the Departments and Offices, it means aligning a division, section, unit or team to a higher-level strategy. STRATEGIC PLANNING AND MANAGEMENT IN RETAILING Staying competitive in the rapidly evolving global retail marketplace requires leadership that is strategic and data-driven. Analysis of the market. �V��)g�B�0�i�W��8#�8wթ��8_�٥ʨQ��Q�j@�&�A)/��g�>'K�� t�;\�� ӥ$պF�ZUn��(4T�%)뫔�0C&��Z��i��8��bx��E��B�;��P��ӓ̹�A�om?�W= 0000006160 00000 n 0000034345 00000 n Free Agriculture Sample Business Plan PDF. Once you have successfully identified your strategic position and … 0000005977 00000 n Strategic planning in retailing in a global retail marketplace. "F$H:R��!z��F�Qd?r9�\A&�G��rQ��h��E��]�a�4z�Bg��E#H �*B=��0H�I��p�p�0MxJ$�D1��D, V��ĭ��KĻ�Y�dE�"E��I2��E�B�G��t�4MzN��r!YK� ��?%_&�#��(��0J:EAi��Q�(�()ӔWT6U@��P+��!�~��m��D�e�Դ�!��h�Ӧh/��']B/��ҏӿ�?a0n�hF!��X��8��܌k�c&5S��6�l��Ia�2c�K�M�A�!�E�#��ƒ�d�V��(�k��e��l ��}�}�C�q�9 It goes on to provide in-depth guidance on the steps involved (as outlined in the box below). PART 1 Chapter 1 describes retailing, shows why it should be studied, and examines its special characteristics. The Strategic Planning Template supplement consists of four fully original files constructed by us: (1) Instructions for using the strategic planning template. h�bbd``b`~$� � �ĺ 0000001557 00000 n That is, a strategic plan is a road map to lead an organization from where it is now to where it would like to be in five or ten years. endstream endobj 3286 0 obj <>/Metadata 237 0 R/OCProperties<>/OCGs[3295 0 R]>>/Outlines 2142 0 R/PageLayout/SinglePage/Pages 3276 0 R/StructTreeRoot 2217 0 R/Type/Catalog>> endobj 3287 0 obj <>/ExtGState<>/Font<>/Properties<>/XObject<>>>/Rotate 0/StructParents 0/Trans 3301 0 R/Type/Page>> endobj 3288 0 obj <>stream ��ކ�&�ث�n��$� mission/vision statements, list of initiatives, and the conversion of the initiatives into financials. �ꇆ��n��Q�t�}MA�0�al��S�x ��k�&�^��>�0|>_�'��,�G! 0000000016 00000 n Strategic Planning in Retailing RETAIL MANAGEMENT: A STRATEGIC APPROACH, 10th Edition Chapter Objectives To show the value of strategic planning for all types of retailers To explain the steps in strategic planning for retailers: situation analysis, objectives, identification of consumers, overall strategy, specific activities, control, and feedback To … endstream endobj startxref 0000013301 00000 n Strategic change and the successful implementation have one aim, a higher organizational performance. Strategic plans can come in many different shapes and sizes, but they all have the following components. 3302 0 obj <>stream The next step is to … Strategic planning is as important as having a business plan and can lead to the success of your business. Strategic planning calls … Strategic planning is a process of looking into the future and identifying trends and issues against which to align organizational priorities of the Department or Office. According to Martin (2014) strategic planning has three parts i.e. You don’t need dozens of strategic goals. This paper develops a planning framework for last mile order fulfilment in OC grocery retailing and discusses the advantages and disadvantages of different design concepts. RTL1513 Principles of Retailing Retail Market Strategy Prepared by Sheau Huey Today • What is Retail. 0000034768 00000 n 0000016346 00000 n Strategic Planning and Management in Retailing. The strategic plan should best reflect the line(s) of trade in which the retailer will operate, the market(s) it will pursue, and the retail mix it will 9 Chapter 2: Retail Strategic Planning and Operations Management use. strategic planning process, since a great deal of strategic thinking is required to develop a successful strategic plan. Outline the steps of retail strategy planning; Strategic planning is a formal process. Solution. 3294 0 obj <>/Filter/FlateDecode/ID[<3C9F609BFC066F49ABA739C00ABA016B><59B621E2D1E8A048BBE54FBE75D9F5D9>]/Index[3285 18]/Info 3284 0 R/Length 62/Prev 920471/Root 3286 0 R/Size 3303/Type/XRef/W[1 2 1]>>stream environment. TEN STEPS TO STRATEGIC PLANNING STEP 1. %%EOF 0000005863 00000 n The Internet and social media are dramatically altering how retailers plan their strategies. 0000015701 00000 n ©2013 Pearson Education 3-34 Additional Concerns for Global Retailing • In addition to the strategic planning With technology, change in consumer behavior, globalization, and consolidation, a data-driven retail strategy is … �"�@�v� �JL,�.y�8��Od�i�u2��рQ�A�!�Av��'s�(�eu��q�kP�noXqfv�Re��y5��䉆��O?�-0 u q q_�R��w.5$��AB&��ψ�]��8� L ��8�pIqU8%��D�T1��fބ�I��l �B!^��P�F�Q[��08%��b{�!5liJ�V�)n+$N0P8��Ѡ��T$;�� s !�E�pG�� )�` A� � $V��^�0�CH��dH��r�c��@��k 0000014803 00000 n Strategic planning in retailing is complex. h�b```� �\�� ̀ �@16��J00�e@[�c�]� {�n��` KK��h�*��h k6��@Z�U�"!�0T068`�`xr@��5C�G��L)5 ��3�xv 5�^`��!��8��A��y�70�cЪ��4��u�y�@+iqg��y�^�iF �` �4� endstream endobj 440 0 obj <>/Filter/FlateDecode/Index[14 389]/Length 35/Size 403/Type/XRef/W[1 1 1]>>stream 0000011691 00000 n 0 It requires a lot of buy-in from your leadership team. The actions included in strategic planning … trailer <<95F71F52118B4E02A2EE34C1C23CA97B>]/Prev 977725/XRefStm 1372>> startxref 0 %%EOF 441 0 obj <>stream 0000031309 00000 n Balance fulfillment channels: Keep it customer-centric. Here’s an example of a sample marketing strategic plan for a retail clothing company that details the reasoning behind the company’s goals. difficult managerial decisions that comprise good and less desirable courses of action. %PDF-1.4 %�� It also requires employees to understand why their actions are important and continuously work toward achievement of goals—even if those goals shift over time. Discusses four main factors contributing towards profit in the retailing industry: Needs or motives; Attitudes or patterns of consumption; Consumption habits; Purchasing habits. Describe the retail strategic planning and operations management model, which explains the two tasks that a retailer must perform and how they lead to high profit. On the other hand strategic planning and strategic thinking can be viewed as the two sides of the same coin and each one on its own is necessary. As a result of this collaborative review process, the Boston College Information Technology Strategic Plan will continue to serve as a roadmap for technology at the University. of relationships, and the basic principles of strategic planning and the decisions made in owning or managing a retail business. Benefits of Strategic Retail Planning ... its strategic plan as a means of getting additional financing for an anticipated expansion. (2) A master strategic planning template, which enables you to directly enter strategic decisions into an interactive PDF file. 0000017705 00000 n STEP 2. To fix that, try a six step process: first, identify key stakeholders. 3285 0 obj <> endobj 0000007424 00000 n ,The findings were developed and evaluated by means of explorative interviews with grocery retail and logistics experts. Marketing) 0000007312 00000 n 403 39 0000017526 00000 n After the objective for the organization is defined. Thus, it is marked by specific activities in which firms engage to build a marketing plan, ensuring that the entire organization is aligned on strategic priorities. Clarify mandate and scope of work. a formalized, documented organizational management process used to analyze its current situation, set priorities, and to focus resources and energy to achieve and maintain an organizations competitive advantage. Omnichannel and Online Retailing Strategic Thinking and Planning Case Studies on Leading Global Retailers, Social Media, and Online Retailing. Now, however, … 0000001372 00000 n Focusing on the long-term strategy of your business is essential. Summary. The results allowed observing that the institutional strategic plan and 45.5% of the strategic plans of the institution were adjusted in the mobile planning process. 0000009449 00000 n hac��K�6"M��E��w��6mo��>��K*�LFD�%$Qx*��3%��KF"&��ex�K��)��;s��k��޾� ��/�^oX��q^��i,H��E��e�/to֘��ou��u~Y��yE��n�k�� YN�9��b��G0m�@��^V[CK��7�a��P4Kh��M��Z�xB��t""I��@�.��.��I�H�}�a��Ի�~9�w��E��u��vƖ۱T� �c��uUΛMm��5��$M�b��u�޶��J��j�h��7e�� y�WA^V]o�� ۠��&��a��cG%��k��d�"R��H�8�iF�p%� :�ƃ-ȣ��7{� zθt�*��9Q��s�}A�#�-蝟�~��q��"N2� D!ǔp�# ��N}�^�஼�!��pb��8�M�Vt��a^>�`bz�,|�q��L-a��^y^H�뤌�$2�^�c,vB�щD��XE�;8�a�L'��HVMm�[�7�Ok��t+ޯ�? 0000012719 00000 n Business (or Strategic) managementis the art, science, and craft of formulating, implementing and evaluating decisions that will enable an organization to achieve its long-term objectives. Retailing Chapter Objectives To show the value of strategic planning for all types of retailers To explain the steps in strategic planning for retailers: situation analysis, objectives, identification of consumers, overall strategy, specific activities, control, and feedback 2 Chapter Objectives (cont.) Formulation of Retail Strategy: In this stage, after analyzing the store’s capabilities in terms … Many strategic plans aren’t strategic, or even plans. 0000012329 00000 n Strategic planning processes can be broken down monthly, quarterly, and yearly, and they focus on individual, departmental and corporate goals. 0000011062 00000 n Formulate a Strategic Plan. 0000525885 00000 n 2y�.-;!��K�Z� ��^�i�"L��0��-�� @8(��r�;q��7�L��y��&�Q��q�4�j��|�9�� Mahogany Western Wear Executive Summary Opportunity Problem. ?��.�j��\��+��. h�bbbg`b``Ń3� ��ţ�1P � �So endstream endobj 404 0 obj <>/Metadata 12 0 R/Pages 11 0 R/StructTreeRoot 14 0 R/Type/Catalog/ViewerPreferences<>>> endobj 405 0 obj >/PageTransformationMatrixList<0[1.0 0.0 0.0 1.0 -306.0 -396.0]>>/PageUIDList<0 2896>>/PageWidthList<0 612.0>>>>>>/Resources<>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 406 0 obj <> endobj 407 0 obj [/Separation/PANTONE#203425#20C#202/DeviceCMYK<>] endobj 408 0 obj <>stream endstream endobj 3289 0 obj <>stream ... Start your own clothing retail business plan. CHAPTER OUTLINE: I. The feasibility and purpose are key to strategic planning, but also the organizational culture and structure will play a role in this stage. OPENING A. endstream endobj 3290 0 obj <>stream 3-5 Year Corporate Goal Quarterly Department Goals (e.g. 0000010280 00000 n Strategic Planning Process Example: Dunder Mifflin Paper Company. Its goals and objectives are intended to ensure alignment with the University Mission and Strategic Plan. Strategic planning refers to the decision-making and planning process that guides the long-term direction of an organisation (Plunkett & Attner, 1994). Examines the complexities of strategic planning in retailing. Strategic planning is a tool for organizing the present on the basis of the projections of the desired future. Strategic Planning and Management in Retailing provides a strategic look at the best methods to win in the highly competitive retail sector. 0000015785 00000 n
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