BUS 475

Decent Essays
Strategic Plan
Larry Myers
October 21, 2012

Strategic planning is an important and vital part in running an organization for a variety of reasons. Strategic planning provides structure for all of the benefiting parties, whether it is the shareholders, executives, upper management or part time employees. Strategic planning allows everyone to be on the same page as far as where the organization is headed, it also helps employees understand the overall direction the organization. Part of the strategic planning process is utilizing all the tools necessary to make informed and educated decisions. At “Spot Fix”, we plan on taking advantage of all the tools necessary to run a business. Using these
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“Definition of SWOTT analysis”

Strengths (Internal)
Weaknesses (Internal)
First Business of its kind
Nature of the company allows insurance companies to save money
Convenient for the customer

Need dependable employees in the beginning
Need licensed and experienced mechanics
Marketing for a new industry can be hard when there is nothing to compare it too.
Limited Finance
Consumer Acceptance

Threats (External)
Opportunities (External)
Not everything can be fixed outside of a mechanic shop
Consumers may be weary to the new idea
Slow start may cause business to go under.
High overhead because of the need for Parts right way.
Competitive advantage
Teaming up with insurance companies
Chance to team up with auto parts stores
Only company of its kind for a few years, creating a monopoly on the market.
Declining Economy

Trends (External)
Changes in Economy
Changes in automobile industry

Another diagram that can be helpful in the strategic planning for Spot Fix is called the balanced scoreboard. There are four major quadrants of a balanced scoreboard, they include Financial, Customer, Internal Business and Learning and Growth. The theory behind a balanced scoreboard is the four quadrants need to be analyzed and the correct data is inputted into the corresponding quadrant. The data needs to be
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