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Mission and vision statements are important elements of any business organization. In this paper, the author is going to analyze three elements of Custom Coffee and Chocolate Coffee Shop. The mission statement and possible tactical plan for this entity will be assessed. Also, the author will conduct a SWOT analysis on the firm.
Mission Statement
According to Bartkus, Glassman, and McAfee (2000, p. 25), a mission statement describes the objectives of a given business organization. The statement highlights the functions of the company and the marketing strategies adopted. Custom Coffee and Chocolate Shop has a wide-ranging mission statement that caters to the needs of the customers, the suppliers, and other stakeholders. The possible mission statement of this organization is Providing High-Quality Services to Customers and Suppliers.
Commercial statements have three major components. The three are the key market, contribution, and distinction. The key market includes the target consumers, while contribution involves the products provided to the client. The distinction is based on the uniqueness of the product in the market.
The mission statement of Custom Coffee and Chocolate highlights the services offered to the people within the community (Bartkus & Glassman, 2008, p. 209). The menu of the shop encompasses the provision of entertainment, social amenities, and other cultural events. The client is provided with the opportunity to explore the world through the various coffee and chocolate flavors offered (Pakneiat, Panahi & Noori, 2010, p. 255). Such events as entertainment make it possible for the customers to interact with the sounds and words of other cultures. Business management scholars agree that when all the stakeholders pursue the same mission, the success of the organization is enhanced (Jackson, Aparna & Erhardt, 2003, p. 818).
SWOT Analysis
According to Pakneiat et al. (2010, p. 256), the strategy is used to evaluate a given business organization in terms of its strengths and weaknesses. It also examines the opportunities and threats associated with the entity (Williams, 2008, p. 100).
According to Pickton and Wright (1998, p. 105), the strengths of the company are the characteristics that give it an upper hand in the market. In the case of Custom Coffee and Chocolate, it is noted that the two entrepreneurs are the only providers of coffee and chocolate beverages in the university. They know the customer base, the need for unique products, and the existence of high traffic locations in the campus market.
Weaknesses entail the internal characteristics that expose the business to competitors in the market (Lang, 2009, p. 242). Custom Coffee and Chocolate lacks sufficient capital to expand. They also lack adequate human resources. Also, the business concentrates on the provision of takeaway services.
Opportunities are external elements that a business organization can exploit to its advantage (Bateman & Snell, 2012, p. 33). Custom Coffee and Chocolate has very few opportunities to exploit. However, the establishment can expand the menu to include baked chocolate desserts, tea, and other beverages. The two entrepreneurs have assessed the possibilities of hosting events like poetry in the shop. The organization can also exploit the possibilities of introducing delivery services to boost business.
Threats are potential elements that destabilize business operations (Chermack & Kasshanna, 2007, p. 390). The threats faced by Custom Coffee and Chocolate include a small market. There is also limited access to capital.
Tactical Plan for the Business
To compete effectively, the business should adopt e-marketing and communication planning (Agarwal, Grassl & Pahl, 2012, p. 11). The two elements will help streamline and improve business operations. Pricing and promotion strategies should also be formulated. The management should also install wireless internet connection to help host various events like poetry and discussions, which will increase sales.
Conclusion
The mission statement of a given firm should define the goals of the business organization. SWOT analysis is used to analyze the competitiveness of the company in the market. In this paper, a SWOT analysis was conducted on Custom Coffee and Chocolate to improve the company’s operations.
References
Agarwal, R., Grassl, W., & Pahl, J. (2012). Meta-SWOT: Introducing a new strategic planning tool. Journal of Business Strategy, 33(2), 1-13.
Bartkus, B., & Glassman, M. (2008). Do firms practice what they preach? The relationship between mission statements and stakeholder management. Journal of Business Ethics, 83, 207-216.
Bartkus, B., Glassman, M., & McAfee, B. (2000). Mission statements: Are they smoke and mirrors?. Business Horizons, 43(6), 23-28.
Bateman, T., & Snell, S. (2012). Management: Leading and collaborating in a competitive world (10th ed.). New York: McGraw-Hill/Irwin.
Chermack, T., & Kasshanna, B. (2007). The use and misuse of SWOT analysis and implications for HRD professionals. Human Resource Development International, 10(4), 383-399.
Jackson, S., Aparna, J., & Erhardt, N. (2003). Recent research on team and organizational diversity: SWOT analysis and implications. Journal of Management, 29(6), 801-830.
Lang, M. (2009). Conflict management: A gap in business education curricula. Journal of Education for Business, 84(4), 240-245.
Pakneiat, M., Panahi, M., & Noori, J. (2010). Firm capabilities and diversification: How mission matters. Business Strategy Series, 11(4), 248-260.
Pickton, D., & Wright, S. (1998). What’s SWOT in strategic analysis?. Strategic Change, 7(2), 101-109.
Williams, L. (2008). The mission statement: A corporate reporting tool with a past, present, and future. International Journal of Business Communication, 45(2), 94-119.
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