Essay Sample with a Three-Year Strategic Plan for CEO Sally Smith at BWW

A strategic business plan is that which considers how an organization is planning to succeed in its mission. BWW, Buffalo Wild Wings, has a potential of achieving its mission in a well-planned business strategy. The CEO ought to put his energy towards understanding the markets and business opportunities with the aim of developing clarity regarding the direction the company is moving. The organization's 3-year business strategy lies within its mission and vision statements that even though not provided on its website or annual report, should be to routinely meet the needs of the customers. A concise strategic plan includes the various elements that can be utilized by BWW to take advantage of future financing while managing the organization's objectives.

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Executive summary

BWW is a local restaurant though Fresno state that specializes in chicken wings. Even with their good location, the organization lacks marketing that targets Fresno State students. However, with a clear set strategic plan, BWW can expand on its goals and objectives. Besides having short-term goals of opening other branches across the town, it can focus on opening some more across the world. The CEO can also build on the company's long-term goal to make sure that it is not the only staple when it comes to watching sports but important at any desired time. With this, more customers can be attracted even during the off-season. The best plan is that which enhances brand recognition within and without the community.

Marketing analysis

The current target market for BWW is young adults (Buffalowildwings, 2018). The manageable size of the same should include young people who are sports fans, video gamers and trivia fans and like bar food such as wings and burgers, and beer. Acquiring these customers is a hurdle without concise planning. BWW should market the best, trending and specific sports games with the aim of reaching to its target market. More young people need to realize that BWW offers specific games as soon as they are out to the market. The organization cans also input more on its Buzztimers with the aim of targeting trivia fans.

Financial statements

In three-year time, the organization should be making sure that it reaches the desired amount of money. Just as there was an increase between 2011 and 2012, the organization should make sure that the next three years see even a better rise in the amounts of profits. This is only achievable through this concise strategic plan. Even with competitors such as Hooters, T.G.I Friday's, Chili's, and Applebees, BWW can have a better market position if it employs a business that sees an increase in finances.

Through this, BWW can optimize market research and attain optimum market share for its position in the industry. The CEO can focus on a certain niche in the marketplace, therefore, make more effective the sales, advertisements and customer management. Through this, the business can understand the needs of its customers better alongside identifying the prospected gaps in the marketplace that can be covered up before late. Through the plan, BWW can offer a more targeted service to its clients. With this strategic business plan for BWW, the company's milestones can be successfully completed. The CEO of BWW can hence, understand the business while becoming an expert in the industry through adjusting accordingly in regards to the mistakes made in the past making the business improve and grow significantly. It is through this strategic plan that BWW can be put on track to meet various growth and financial objectives.

References

Buffalowildwings. (2018). Wings. Beer. Sports. Retrieved April 29, 2018, from https://www.buffalowildwings.com/