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The mission statement should be a clear and succinct representation of the enterprises purpose for existence. It should incorporate socially meaningful and measurable criteria addressing concepts such as the moral/ethical position of the enterprise, public image, the target market, products/services, the geographic domain and expectations of growth and profitability.
Example of Mission Statement of Allied Bank Limited:-
According the the official website of Allied Bank Limited, the mission statement is given as: (Allied Bank Limited, 2011)
To provide value- added services to our customers
high-tech innovative solutions to meet customer requirements
to create sustainable value through growth, efficiency and diversity for all stakeholders,
providing a challenging work environment, and reward dedicated team members
To play a proactive role in contributing towards society.
AspirationalÂ descriptionÂ of what anÂ organizationÂ would like toÂ achieveÂ orÂ accomplishÂ in the mid-term orÂ term future. It is intended toÂ servesÂ as a clear guide for choosing currentÂ and future courses ofÂ action.
Example of Vision Statement of Allied Bank Limited:-
To become a dynamic and efficient bank providing integrated solutions and the first choice of bank for all customers. (Allied Bank Limited, 2011)
"A goal is an observable and measurableÂ endÂ resultÂ having one or moreÂ objectivesÂ to be achieved within aÂ more or lessÂ fixed timeframe".
To enable a company toÂ controlÂ its marketing plan.
To help to motivate individuals and teams to reach a common goal.
To provide an agreed, consistent focus for all functions of an organization. (Muller, 1999-2011)
All objectives should beÂ SMARTÂ i.e. Specific, Measurable, Achievable, Realistic, and Timed.
SpecificÂ - Be precise about what you are going to achieve.
MeasurableÂ - Quantify your objectives.
AchievableÂ - Are you attempting too much?
RealisticÂ - Do you have the resources to make the objective happen
TimedÂ - State when you will achieve the objective
Mobilink objectives are:-
To be No.1 in all its mobile business.
Continue to capture more market before competitors arrive.
To increase market share up to 70% this year.
To achieve turnover of 20 % in 2005
To provide customer with best value for spending and service at low cost.
Task for M1:-
Here the students will be expected to identify at least three of the concepts (discussed in P1) in the organization/business selected. The students should give a brief analysis of how the concepts have been applied in the organization.
Mission Statement of CHIEF Burger:-
Chief will be a leading Pakistani owned fast food company that is committed to providing innovative products that are consumer and lifestyle focused. We will achieve this by meeting our customer expectations.
Chief Burger is Pakistani owned fast food company that strive to chive success by providing valuable fast food products in the industry. Chief burger mission statement is very realistic as they are focused in fulfilling customer expectations by commitment to the following
Chief burgers offers the products worth buy for the price and is committed to make it more valuable for their customers.
Chief Burger maintains high quality products which is strength for the company. They have just in time policy due to that chief burger is able to provide fresh and tasty products on time.
They have multi task work force who are able to deal with man customer at time. This make the m unique in the industry as customers does not have to wait long.
Chief Burger is very conscious about the cleanliness and hygiene of the products. As discussed above just in time also benefit them in keeping their food hygienic. All members of staff are well dressed and clean the seating area every now and then.
Objectives of a CHIEF Burger:-
Short Term Objectives for CHIEF Burger:-
Chief Burger shall increase gross revenues 5 percent each year to gain more profit in future.
Motivate and attract new customers this year in Peshawar
Make their product loyal in the market.
Hire more staff to make their work flow efficient and fast.
This year start home delivery service.
Long Term Objectives of CHIEF Burger:-
The chief burger should maintain a profitable fast food service operation in Peshawar.
They shall try to become the top fast food restaurant in the Pakistan.
They shall be on the cutting edge of the technology
Chief burger should obtain a leadership position in the community of their competitors.
The short term objectives of chief burger show that they have adapted very realistic and achievable approach towards their objectives. As it is also one of the oldest fast food brand in Peshawar in last year the have seen very rapid growth besides opening of new brands like KFC, Pizza Hut and Dr. Cod. But it does not effected chief burger once customer start going to chief burger then they became loyal customer for the company. Chief burger is also one of the cheap fast food company in Peshawar that offers the lowest prices in the market. The have the ability to attract more customer as their prices compare to their competitors are very low. Chief burger staff are multi task and they are recruiting new members to the crew which again would be positive effect on the firms image. They have very few or none complaints regarding the waiting times buy customers surveys. That shows chief burger is very efficient and committed to bring more efficiency in dealing with customers.
As chief burger offer cheap products that makes them leader of the market. Because many customers of the community are price conscious and believed that chief burger best suits their requirements.
Vision Statement of CHIEF Burger:
To own majority share of both the casual dine in and delivery sectors in Pakistan and to become the industry leaders through customers mania.
Chief Burger has adapted best business strategy in their approach. The vision statement comprises of spreading their wings all over the country. They are becoming more and more popular because of their price and good quality food. And that is what makes them able to achieve their visions. Currently the are operating in two cities. They are spreading slowly as by opening new restaurant in new city firstly they achieve to capture the local market of that ue tacitly to a non beatable extent and then another city. The process is too slow but achievable due to price sensitivity.
Task for D1:-
The students should continue their discussion about the application of strategic concepts in the organization, and recommend improvements possible in the application of these concepts.
Recommendations & Suggestions:-
Chief Burger in their view is wining heart and minds of people of any class. They are keeping prices low, having good quality and efficient but there may be some points where they lack in our view and should be adapted alternatives or minor changes to their business strategy context.
New Mission Statement for CHIEF Burger:-
Cheap burger in their mission statement are more focused on value, quality but they does not have any major plans for enlarging their current restaurant as the demand is for chief burger is growing day by day and they should increase the seating capacity and orders taking tills. Due to which many customers face poor customer services at a times and customer have to wait in queue for normal then long.
They should add the Human Resource in their mission statement as they lack in satisfying their work force. There should be long term relationship between the company and their employees which will motivate them and work efficiently.
New Vision Statement for CHIEF Burger:-
Chief burger is owned by few individuals in order to achieve their vision they should go into partnership for the purpose of spearing their chains in other cities and countries. They have the option of sell their franchise across the country. Due to low prices it is hard for any stakeholder to but their franchise as sustaining such price would be rash for new comers in the industry.
New Objectives for CHIEF Burger:-
The objectives of cheif burger are smart and are divided in two categories short term and long term objectives. Short terms doesn't require any changes as its realistic and can be achievable in current industry structure.
Long term objective will be base on competition in the industry. As of today's many customers prefer chief burger because of low price from the same product compared to other fast food company. But in long run due to tough competition it will be hard for chief burger to maintain their prices as they will face new trends from competitors and new comers. The chief burger in our view should focus and address the issue as the kept the current profit margin percentage is low.
Task for P2:-
The students will be expected to discuss the concept of stakeholders and their types.
Students should describe the various stakeholder maps discussed in class and its application.
Any individual, group or business with a vested interest (a stake) in the success of an organization is considered to be a stakeholder. Stakeholders typically concerned with an organization delivering intended results and meeting its financial objectives. Stakeholder can be defining as any party that has interest (stake) in a firm. Examples of a stakeholder are an owner, manager, shareholder, investor, employee, customer, partner and supplier, among others. A stakeholder may contribute directly or indirectly to an organization's business activities. Other than traditional business, a stakeholder may also be concerned with the outcome of a specific project, effort or activity, such as a community development project or the delivery of local health services. A stakeholder usually stands to gain or lose depending on the decisions taken or policies implemented.
There are three types of stake holder which we have studied these are:
Those individual or groups which are intimately connected with organization. Employees and management is internal stake holder. their objectives are likely to have a strong and immediate influence on how it is run. These stake holders are interested in the organization continuation and growth. Employees and management have a special interest in the organization continued existence.
Employees also play a key role in the success of organization and business. They also responsible for all aspects of work carried out therein. Employees are also important of all the factors of production.
When your employee is motivated, they give more productive, produce a better quality produce a better quality product or service, team work and also provide idea for improvement.
Employees and managers have individual interest and goals
1) Security of income
2) Increase in income
3) A safe and comfortable working environment.
Connected stake holder is those that are beyond the immediate boundaries of the firm. There are many groups of stake holder such as shareholder, customer, bankers and supplier in the organization
The main interest of shareholder is return on their investment whether in a short term or long term. Some of shareholders are concerned with the corporation's ethical performance. So the growth of investment funds designed to avoid certain companies. Shareholder are now being asked to take more involved interest in a company affairs
Customer wants product and services. Large customers have significant power over price and producer. They ultimately determine what is produced, what quality is needed, and what price is charged. Customer also affect the business is through feedback, complaint, suggestion, choosing whether or not to buy.
Supplier will expect to be paid. And supplier also interested to long term relation ship with the firms.
Those individuals, groups and entities which influence and are influenced by an organization but it's not its internal part they are external stakeholder. External stakeholder don't own or work the business but still have interest in the business .They include: pressure group, gorvenment and local authorities. The pressure group show interest in the particular issues like trade unions they take active part in the decision making process and also resolve the problems that face by the employees. Government has a vital role in the success of the business through passing laws and policies by passing laws to give protection to workers and customers, and also collect different taxes.
Task for P3:-
SWOT Stands for Strengths, Weaknesses, opportunities and Threats. SWOT analysis is basically used for auditing of overall position of business and its position.
Strengths and Weaknesses are internal factors:-
Strengths are attributes of the organization that are helpful to achieving the objective while Weaknesses are the attributes of the organization that are harmful to achieving the objective.
Opportunities and Threats are external factors:-
Opportunities are the external conditions that are helpful to achieving the objective while Threats are the external conditions that are harmful to achieving the objective.
SWOT ANALYSYS OF CHIEF BURGERS
Chief Burgers is situated in heart of Peshawar near many shopping markets like Jawad Tower, City Tower etc where people come for shopping and then enjoy the food of Chief Burger. So its location is also one of the main reasons for its attraction.
Chief Burgers Serve's low Price food that is affordable for all high and middle class people and this is the reason that mostly students living in hostels in Peshawar like to eat in Chief Burger.
Chief Burgers offers great variety of food.
Chief Burgers has loyal customers and that's why it do not spend big amount of money on advertisement to attract people.
Chief Burger is expert in Chief Burger's special cheese burger, chicken steak burger, Hot Dog burger.
Every organization has some weaknesses none of the organization is perfect by all strategies. Like that chief also have some weaknesses which are mentioned below:
Some people in Peshawar has transport problem or due to traffic problem most people expect home delivery while chief is not providing home delivery.
Chief Burger doesn't have their own car parking. They are using the parking of plaza in which chief is located so that parking is limited and not safe.
Chief Burger is not an attractive place for children. Like KFC is celebrating birthdays, giving gifts and also have play land.
Chief Burger's counter is located out side the restaurant it create problem for ladies.
Chief Burger is located in a place where they are facing many competitors around them.
Waiters do not response to customers on time and that's why mostly customers have to go to the counter by themselves to order food.
Opportunities are those external conditions for Chief Burgers which are helpful to achieve the objectives.
Chief has good brand name and good market share. it can introduce its more branches in other cities of Pakistan to expand their business.
Chief Burgers can introduce home delivery system
Chief burger should advertise using media and newspapers
They should introduce more items in their menu which are not related to fast food.
Chief should introduce some festivals and funfairs to attract customers
Chief should celebrate birthdays to attract children's like KFC is doing
Bird flue virus had made great loss in chicken businesses due to infected chickens. "Chief burgers" is also facing loss due to bird flue.
KFC and Pizza Hut are providing more facilities like home delivery class service and variety of food menu so more customers are concentrated toward them.
Political strikes and union strikes also had a great affect on the business of CHIEF.
Chief is more concentrating only on burgers while other local restaurants are providing large variety of food menu.
Chief don't have their own car parking of the plaza is very limited when its full the other customers go to other restaurants.
PEST analysis stands for Political, Economic, Social, and Technological factors. It analyzes the external audit of organization affected by Political, Economic, Social, and Technological factors. . It is a useful strategic tool for understanding market growth or decline, of on organization.
Chief Burger PEST Analysis
Chief Burgers has a valid license and is a member of chamber of commerce of Pakistan
Chief Burgers can't set their prices below their productivity as being a member of chamber of commerce.
The Employees are given their rights and their salary is more than 5000 according to the ordinance of 2006.
There are other restaurants and fast food shops in Peshawar which are making competition for Chief Burgers.
Marketing department of Chief Burgers is not doing any thing for advertisements. their advertising is very low as compare to KFC and PIZZA HUT .
Chief is using wheat for making pizzas and some other products. The rates of wheat is increased so spending on raw material will be increased for chief
Chief Burger has an economical benefit of cheap labor of NWFP
Chief Burger is also benefited economically by climate of Peshawar because the weather here is normal.
Trend of fast food is now raising in Peshawar which creates economical factor for Chief.
In NWFP the trend of Fast food is not too good. People use to eat fast food occasionally and mostly Kebabs and tikaas etc are eaten in the famous restaurants Jalil kababi and Charsi Tikkah shop. There fore it affect the sales of chief burgers.
Pakistan is an Islamic country and the food which is Haram is not eaten here so chief burgers cannot sell haram foods like ham burger and alcohol drinks.
Due to the culture of NWFP most of people don't want to go to the restaurants with families. so Chief Burger built a separate portion for families due to social trend
Chief Burger had launched their website www.cheif.com.pk in which customers can get information about their menu with price list and can easily contact them.
They are using computerize billing machine.
Chief Burger use Electric Micro Wave Ovens, Electric Cheese Smelter for pizza, Electric Meat Grinder, Ice Machine Flakers, cold drink machines, Electric Coffee Brewer and Eclectic Dish Washer in their kitchen.
The ANSOFF matrix was developed by Igor ANSOFF in 1957.it is basically used for deciding the product and market growth strategy of business of organization. with the help of ANSOFF the organization get idea about their new product and existing product ,that weather it depends on new or existing market. This Matrix consist of four strategies
Existing Market development
New Market development
Market penetration is the less risky strategy for a company to grow. it involves increasing Sales of an existing product and penetration the market further by either promoting the product heavily or reducing prices to increase Sales. Another way is to attract the non-users of your product and Competitor's customers with the help of advertisement and also convince the current customers of your product through the same way.
Product development is the strategy in which the business sells its existing products in the new Market. For example, exporting the products in new country or creating a new product to attract new customers.
Market Development is a strategy adopt by the business for selling the existing product in new Market with new geographical area and environment.
Diversification is a strategy where a business market new product in a new market and this is the more risky strategy because it is difficult to run a business in a market in which it has no or less experience
ANSOFF MATRIX OF CHIEF BURGER
Chief Burger is running their business with keeping their quality and price maintain. They serve low price food in order to attract more customers and also attract the competitor's customers. The Prices of food in Chief restaurant are less as compare to the Pizza Hut and KFC and that's why middle class people along with the high class people are also becoming the loyal customers of Chief.
Chief Burger relies on internal advertisement which is the cheapest way of advertisement.
Chief Burger team is struggling to introduce new recipes of fast food for their customers. Through introducing new food, they will attract more new customers. as they have introduced sizzling steak, Chicken steak burger, special chief pizza and chicken chowmein and montigarlo .the customers are accepting their new products.
Chief Burger has not developed its new market yet. it only have one restaurant in Peshawar.
Chief burger is a fast food restaurant and it doesn't have any Subs so diversification in not held yet.