Navigating Success: Dominos' Strategies in Goal Setting, Flexibility, and Competitive Advantage - Free Paper

The goals of a company can either make or break its fate. The employees are often inspired to ensure they meet or get to the goal, especially if it is common and comes from the managers. The goals can make the work environment positive while allowing the company to move forward with a common goal within the changing and competitive business environment (Krstic & Becic, 2011). The employees need to have a common goal so they can work as a team. It is in this that they can accomplish them. The company's goals should be ensuring that every employee feels successful and welcome, providing an environment that would let them work without interference, with respect and integrity, and ensuring that it serves the needs of the customer.

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The plans for a company such as Dominos need to be flexible enough to embrace the changes and competition. Also, the market standards are diverse; hence, it needs to keep changing with the needs of the various parts of the world, and to have flexible plans allows the company to make changes in cases where it is needed from the top down.

Also, it needs to implement long-term planning. This type of planning ensures that it permanently solves most of the issues it currently has to reach its overall targets (Pratt, 2011). Long-term planning also allows the company to react to competition in the industry regarding its environment, political, economic, and social aspects. This way, Dominos will also achieve its long-term goals. This planning examines how the company makes significant capital expenditures such as facilities and equipment purchases, and implementation of procedures and policies to shape the company's profile. Long-term planning is useful for continued progress and success of medium-term and short-term goals.

Environmental factors and customer preferences are some of the factors that might affect the planning of the company. Often, time brings in new franchises that come up with ingredients that people like and prefer. As such, when making long-term goals, the company might fix itself on one aspect of its diet and even neglect some. There can be losses due to various food and beverage industry (Hitt, 2012). As such, this is where the flexible aspect comes in, and they are forced to make changes that align with their customers' preferences. The environmental issue affecting its plan is a scenario that happens, especially where there are unstable political and economic environments. The company might be forced to close its doors because they don't make profits.

One competitive advantage that Dominos has always had is that it can deliver its products quickly. The company relies on pre-made and frozen ingredients to provide fast and effective services. Domino has also used its marketing skills to place it like a pizza (Sheehan, 2014). Internet marketing has been used to its advantage through its website, where it has reached its market segments. The pricing of the company also gives it a competitive edge.

Also, the company has competitive challenges, such as diversification. Compared to other franchises, Dominos seems to be less diversified. The company does not have a service culture it is replicated in all its outlets worldwide. It is common to find its competitors to have a culture that is used everywhere they are located. A service culture makes a franchise more trustworthy.

References

Hitt, M. (2012). Strategic Management Cases: Competitiveness and Globalization. South-Western Educational Publishin+.

Krstic, I., & Becic, S. (2011). Implementation of marketing strategy: Factor of competitive advantage. Marketing, 42(2), 118-126. https://doi.org/10.5937/markt1102118k

Pratt, D. (2011). Modeling written communication. Springer.

Sheehan, N. (2014). Pizza, Pizza, Pizza: A Competitive Strategy Exercise. Organization Management Journal, 11(1), 40-46. https://doi.org/10.1080/15416518.2014.897928