Strategic Goals For Josh 's Business

2025 Words Dec 14th, 2014 9 Pages
Questions:
1. List three strategic goals for Josh 's business and provide an explanation of each. Strategic goals are planned objectives that an organization works to achieve. These goals are developed and articulated by the management in order to demonstrate to the employees their plans and vision for the firm. Strategic goals are set to be achieved and always reflect the realistic position of the business environment. The following are the strategic goals for Josh’s business.
i) To open a bike rental business in Vienna for selling, renting and repairing bicycles. Having used his savings together with the money borrowed from a friend Josh opened his business to attract the vast range of clients in the strategic area of Vienna. Evidence by 5,000 square feet store and the sales of over 3000 bikes annually illustrates how his objective came to reality. ii) To preserve profits by reducing expenses. The growth of internet sales and a decline in the economy led to reduced profits in Josh 's business thus he had to strategize his business to repair in order to retain profits. Further, to preserve profits Josh gathers information about the weather patterns so that he sells on all days of the week during on peak periods and weekends during off-peak. iii) To study the consumer preference and sell products that are highly needed by customers. Over years, Josh noted that customers are likely to purchase triathlon and high-end road bikes. He also noted that lowly priced bikes sell…
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