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Introduction
Adequate and proper planning, as well as clear focus in a business organization, is important for success. Businesses that deal with technology have great potential and stand to make high profits especially if they remain updated on the upcoming technologies. Dealing with goods proves to be easier than services where different people have their different standards of satisfaction hence those offering services may have difficulties in balancing the interests of all the customers. Moreover, dealing with goods may be better since people will have a variety of standards and are likely to buy what they want. The technological business products are also not perishable and hence they will still be maintained profitably even during recession periods.
Overview
Businesses require a vision, mission, and values in determining the strategic direction. In addition, the business requires an established framework for success which will enable the business to forge ahead strategically and progressively with effective monitoring and evaluations (Wittmann & Reuter, 2008, p.28). However, certain objectives must be set so that the business becomes viable. The framework must state what the business wants to be in the future (a future image of the business), the business activities and existence, and the traits and governing qualities of the business.
Picosam Technologies
Picosam business deals with the sale of technology products such as i-pod, flash disks, latest designer phones, computers, and other computer accessories. These will be the products to be traded by the business since they have a ready market and a higher turnover ratio. The business identity name is “Picosam Technologies” and is a new entity in the technological world; however, it aims to beat the giant players in the market.
The business’s vision statement will be ‘To be renown, recognized, and respected as the best business and the leading player in the field of technology through quality and the best prices in technology sales globally’.
The mission (purpose) statement will read as ‘our mission is to bring technology to the people without discriminating against class or education level and aiming at their satisfaction. Also pioneering and dominating the markets globally’.
The values, qualities, and traits that the business will uphold will be of much priority in the governing of the business and will be upheld at all costs (Wittmann, & Reuter, 2008 p.69). They will be the driving force when working and dealing with the customers. They will make the business grow its customer base to millions hence increase sales.
The value statement: ‘At Picosam technologies we are committed and ambitious to offer quality goods, through responsible and accountable practices and offering diversity through innovativeness and efficiency. We promote honesty, credibility, and excellence and offer the best goods’.
Guiding principles
The guiding principles or values of Picosam technologies are firmly embedded in excellent customer-friendly relations which will enhance the customer’s dealings maximally, pioneering technology which will ensure first-hand information on the recent technologies globally and through innovations, creativity which will ensure very new technologies can be developed in the market, and integrity and social responsibility. These guiding principles will help the business to attain maximum profit levels, reach the set goals and achieve the business objectives effectively (Heathfield, N.d.).
Objectives and goals
The business objectives include; setting a global base that is strong and efficient in sales, being the number one technology distributor in the globe, and attaining triple digits in terms of profits. Picosam will also promote culture, social responsibility, and ethics throughout the globe. It will promote culture by dealing with residents to integrate technology and culture and how the residents can use technology to sell their culture to others in the world. The company will uphold the ethics of business and ensure that everyone respects the view of all (Goodstein, Nolan & Pfeiffer, 1993, p.57).
The goals of the business will be grouped into targets which the company must meet annually. The major targets will be to open 100 branches globally and to reach profits of ten billion annually – the business will “dominate the market”.
The common aim of the business will be to establish dominance in the technology market and beat the rivals who have dominated it for a long time. The business aims to become like the HP Company and surpass its growth. It will aim to displace its dominance and be the new player in the market that will shape the future of technology. The company will also aim at the internal transformation to attain global recognition and diversify the dealings to include all types of technologies.
How the vision, mission, and values guide the organization’s strategic direction
The strategies or approaches the business is to use to fulfill its mission and move towards its vision must be followed to the letter. The company will aim to establish new markets in other continents once it is fully stable in the mother continent. Better areas will be the first targets before expanding to other regions. The improved human resource will be a priority since they are the ones to push forward the business values and mission.
There will be a vibrant sales and marketing team to move the business goods, who will have to be taught on the observance of the business ethics and professional standards. The customer base will be expanded using active and rigorous advertisement and offering quality and efficient products. The business will also aim to increase its capital base and profitability through an increased volume of sales.
Critique and customer relations
The mission, vision, and values guide the business through its profitability goals. They will work intertwined to continue with the progress. This means that the business will need an action plan. The business needs professional employees to effectively plan the strategies at hand, an action that will involve establishing a workable budget of time and money that is all-inclusive and proper assessment and monitoring of the schedule in the implementation stage (Rea & Kerzner, 1997, p.82). The company will continue to be committed and ambitious in offering quality goods, while innovation and efficiency will be core in all business strategies. Planned and swift action and flexibility to adopt new systems and change will be an added advantage to earn a competitive advantage. All employees are, to be honest, credible, and excellent in selling the goods to attract and retain customers.
Our mission “to bring technology to the people without discriminating class or education level and aiming at their satisfaction and dominating the markets globally” will act as the strong point since technology must be adopted by poor and rich, and educated and uneducated. There will be a huge customer base since the products will target all populations. This will help achieve, improve and guarantee the goal given of a huge customer base. A variety of all technological goods will be offered and incentives such as after-sale services will come in handy to attract customers. Field days will be introduced to ensure that people are educated on the recent technologies offered by the business to achieve a competitive advantage.
Conclusion
Every business must be approached with a strategic plan, vision, mission, values, and dedication to be successful. The ideas must be implemented, monitored, and evaluated before they yield fruits. No idea is too big to be implemented and one needs courage and dedication to build a strong empire especially in business to emerge as the best. Without a vision then the business is deemed to perish.
References
Goodstein, L.D., et al. (1993). Applied strategic planning: a comprehensive guide. Caledonia, McGraw-Hill Professional. Web.
Heathfield, S. M. (N.d.). Build a Strategic Framework: Mission Statement, Vision, Values and More Strategies, Goals and Action Plans. 2010. Web.
Rea, P.J. & Kerzner, H. (1997). Strategic Planning: A Practical Guide. New Jersey, John Wiley and Sons. Web.
Wittmann, R. & Reuter, M. P. (2008). Strategic Planning: How to Deliver Maximum Value through Effective Business Strategy. Philadelphia, Kogan Page Publishers. Web.
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