Strategic Plan for the Great Italian Food Company
Strategic plan for The Great Italian Food Company
Introduction
The Great Italian Food Company represents a family owned organization, which operates four Italian restaurants in the St.Louis area. Key strategic issues include the need to create possibilities for growth of more family establishments, as well as upscale restaurants with partners, and the opportunity to explore possibilities of broadening product. This in mind, GIFC needs to evaluate strategies to ensure it can keep product image and loyalty, while expanding profit.
Proposed Mission and Vision
GIFC Board of Directors should develop a clear mission of the company, its basic purpose and who its clientele is. The board should also have a specific vision of where the company is headed in the future, and what GIFC can produce in the end.
GIFC External Threats and Opportunities
External threats to any expanding company are diversified. However, one of the greatest potential risks while expanding is protecting the brands image and product credibility. GIFC must look at the access of capital, start expanding as that capital allows and continue to broaden product as profit rises. With more profit growth, each family member ideas can be awarded merit.
SWOT Analysis
Strengths
Weaknesses
Reasonable prices
Family owned and operated
Strong brand image
Community loyalty
Strong Competition
Name only known for Italian food
Limited amount of start up funds
Opportunities
Threats
Increase