Business Policies and Strategies
You have just been hired to the HBY company as its new vice president of strategic planning. The corporation is a conglomerate with divisions in the film industry, theme park industry, digital music distribution industry, and mass merchandiser industry. The corporation has seen lackluster performance in recent years because its competitors seem to have a more effective strategy, and, at the same time, business and economic conditions have changed appreciably from what they were five years earlier.
Given the multibillion dollar size of the corporation and the fact that it is a conglomerate with a very diverse portfolio of companies in varying industries, the chief executive officer (CEO) to whom you report has already given you permission to hire a staff of recent Master of Business Administration (MBA) graduates to assist you in your efforts. You recently completed the interviewing and hired four people with minimal real business experience.
In coming months, you and your team will be creating a completely new-and, presumably, more effective-strategic plan. You plan to begin by holding a kick-off meeting with your team.
Outline
• Introduction
• Current state theme park industry overview
o Pros and Cons of theme parks
o Best of theme parks in the industry
- Business profits/revenue
• HYB company mission and vision statement
• SMART Goals
o S - specific, significant, stretching(2 examples)
Clear defined specific goals for increasing theme park
- Attendance/Repeat customers
- Experience
- Revenue
o M - measurable, meaningful, motivational(2 examples)
Set obtainable goal, set schedule to meet goal
o A - agreed upon, attainable, achievable, acceptable, action-oriented(2 examples)
o R - realistic, relevant, reasonable, rewarding, results-oriented(2 examples)
Within the availability of resources, knowledge and time
o T - time-based, time-bound, timely, tangible, trackable(2 examples)
Determine time required to meet time schedule
• Theme park industry analysis
o Porter's Five Focus Analysis
o Business Strategy
o Market assessment of industry
• SWOTT Analysis
o S- strength(s)
o Business advantages
- Current positives/ confirm what business does well
- Children entertainment
o W-weaknesses
- Recurring concerns
- Area's to avoid
o O- opportunities
- Mature dining
- Additional onsite lodging
o T-threats
- Industry obstacles(2 examples)
o T-trends
- Current theme park trends(2 examples)
• Perceptual Map (marketing research chart)
- Theme park ticket sells January-December
o Explain why you picked the criteria. Reason to track ticket sells.
- Chart will be used to confirm which month has the highest customer attendance.