Kudler Fine Foods: Strategic Plan Update

Introduction

Kudler Fine Foods rose out of Kathy Kudler’s passion for gourmet cooking and it was a result of Katy’s frustration of having to travel all over town to look for ingredients for the preparation of a simple meal. Since the opening of its first store in 1998 in La Jolla, the company has seen tremendous growth and success coupled with the opening of two other stores within two years. To achieve its mission and vision of expanding its services and improving the efficiency of its services, the company needs specific strategies based on the most current analysis of the risks facing the company. Effective strategic planning requires considerable commitment from the company in terms of time and resources (Goodstein, Nolan, and Pfeiffer, 1993, p.94).

Mission statement

Kudler Fine Foods is committed to providing its large number of customers with the best foodstuffs, wines, among other related services. Its best selection coupled with helpful and experienced staff offers all the customers the best shopping experience ever.

Vision statement

Our vision is to expand our services to reach most other customers and we are also committed to ensuring that our customers continue enjoying the best quality services.

Values statement

Above all, we as Kudler Fine Foods Company are honorable and accountable to all our services by observing honesty, reliability, and integrity. We recognize the contribution of our employees in ensuring the success of the company. All our employees receive equal treatment since we know that they are the source of our success. And as for our customers, we recognize their critical contribution to the survival and growth of the company. We offer our customers the opportunity of shopping the world for the finest foods.

Strategic Issues

KFF has experienced growth since it began its operations and it is now focused on expanding its business through implementing a number of strategies. Its first objective is to increase customer loyalty and profitability. This can be achieved through expanding its services, tracking the purchasing capability of individual customers, and offering increased efficiency and value to the customers. The company is also in the process of integrating an information system that will be able to monitor the purchasing behavior of each customer over an extended period of time.

Within a period of 12 months, the company wishes to increase customer loyalty through offering added-high-margin services and offering efficient operations. Additionally, the company wishes to increase profitability through cost reduction by employing supplier partnering programs.

Conclusion

Strategic planning is an important tool for the growth of many businesses. Thus, it is important that the company hires a contractor to carry out the process for it to succeed.

Reference List

Goodstein, L., Nolan, T. and Pfeiffer, J.W. (1993). Applied strategic planning: how to develop a plan that really works. R. R. Donnelley & Sons Company: USA. Web.