Strategic Plan, Part I: Conceptualizing A Business

Submitted By HoneyNut81
Words: 1380
Pages: 6
Open Document
Strategic Plan, Part I: Conceptualizing a Business
Mary Turner
BUS/475
October 07, 2014
Larry Myers

Strategic Plan, Part I: Conceptualizing a Business Lambda EM Solutions is a conceptual business that I believe would fit into the evolving U.S. Defense industry. This paper will define Lambda EM Solutions, the business products and services, and its customers through a mission statement. In this paper, a vision statement created for this organization will show what I envision the business will become. The principles and values of this company define from personal values. The values described will show how they fit into the companies operating procedures and operating practices. The vision and mission statements will show how they guide the strategic direction of the company. Finally, this paper will show needs of customers and how to gain a competitive advantage in business.
Defining your business with a mission statement
The mission of a company is defined as a unique purpose that sets a company apart from its competitors and identifies the range of its operation (Pearce & Robinson, 2009). Lambda EM Solutions is a firm that specializes in electromagnetic design, performance, products, measurements, and integration, geared toward antennas for defense and civil applications. The name Lambda EM was chosen because it will be easily recognizable to those in the industry, lambda is the designator for wavelength, which is the cornerstone of antenna equations and is part of the daily language for electromagnetic engineers. EM is the common slang for electromagnetics, so by combining the two it should be easy to remember as well as found through web searches.
The idea for this business stems from the shrinking and streamlining of the Defense industry. The companies operating during this time had large engineering departments and performed concept to completion engineering, meaning they design, built, and optimized all their own products. The 1990s saw a shrinking and streamlining of the defense industry to the point that only three major contractors exist today Boeing, Lockheed Martin, and Northrop Grumman. In addition to this, the role of outsourcing plays a major role in my business decision. Defense contractor’s today tend to be more integrators of products as opposed to designing and building sub-components. Politics also plays a role in my business decision because the Department of Defense has decreed that major defense contractors have to get a percentage of their products from small business, and strongly encouraged to use small business as vendors. Advancements in technology also has help in my business decision, it used to be that these activities involved large overhead costs, but with advancement in computational power of computers, what used to take large computer servers can be done on laptops today. In addition, antenna measurements needed large test facilities, mostly outdoors covering many acres dictated by the equation 2D²/λ, advancements in technology allow these measurements to be taken in indoor facilities, eliminating the need for the larger facilities.
These factors have led to my decision on this business to offer consulting and electromagnetic products for defense and civil antenna applications. A mission statement offers insight into the company’s market, technological areas of emphasis, product, and most important, the priorities, and values of the decision makers (Pearce & Robinson, 2009). The mission statement for Lambda EM solutions is “Lambda Em Solutions, concept to completion antenna service. Lambda EM solutions offers concept, design, fabrication, and integration consulting, products and service to meet your specific EM needs.” Lambda EM solutions builds from my 28 years’ experience in the antenna industry working both defense and civil applications. Our expertise covers design, measurement, optimization, and integration of advance antenna systems for
Show More

Related Documents: Strategic Plan, Part I: Conceptualizing A Business

Strategic Plan Part 1: Conceptualizing A Business

Strategic Plan Part 1: Conceptualizing a Business Strategic Plan, Part 1: Conceptualizing a Business BUS 475 University of Phoenix March 18, 2013 Strategic plan part 1: Conceptualizing a business When conceptualizing a business it is important to make sure to create a high quality strategic plan. This plan will help to detail a company’s vision, mission, values, goals, and direction that will be desired once the company has been started. When deciding to start a new company…

Words 1261 - Pages 6

Strategic Plan Part 1: Conceptualizing a Business Essay

Strategic Plan Part 1: Conceptualizing a Business 1 Strategic Plan Part 1: Conceptualizing a Business BUS/475 - Integrated Business Topics Michael Portillo August 29, 2011 Strategic Plan Part 1: Conceptualizing a Business 2 GPS Marketing is a marketing company that specializes in getting qualified guaranteed prospects to see in front of independent insurance agents. GPS actually stands for “Guaranteed Prospects to See”. GPS Marketing guarantees every agent that comes aboard with…

Words 2149 - Pages 9

Strategic Plan Part 1: Conceptualizing a Business Essay

Strategic Plan Part 1: Conceptualizing a Business Strategic Plan Part 1: Conceptualizing a Business Strategic planning is critical to the success of any business, especially new emerging ones. “Once a firm has committed itself to a particular strategy, its image and competitive advantages usually are tied to that Strategy”(Pearce & Robinson, 2009, P. 3). This strategic plan will map out the path for Bentley IT Services. The definition of the business and customers is evident in the mission…

Words 1271 - Pages 6

Bus 475 Business Model And Strategic Plan Part 1

Business Model and Strategic Plan Part I Patricia Pence BUS/475 June 3, 2015 Jeffery Messinger Company Definition Luxury Adventures is a chartered yacht company that focuses on luxury adventures with amazing experiences. We provide exceptional adventures that our guests can access for magnificent destinations right at their doorstep. We currently have five yachts that accommodate 30 guests that genuinely provide an intimate voyage. Our adventures are energetic, interactive while being surrounded…

Words 1063 - Pages 5

Essay on Charetered Managament Institute Level 7 Diploma - Course Details

Strategic Management and Leadership Level 7 Strategic Management and Leadership Contents Page Qualification structures Unit 7001 Unit 7002 Unit 7003 Unit 7004 Unit 7005 Unit 7006 Unit 7007 Unit 7008 Unit 7009 Unit 7010 Unit 7011 Unit 7012 Unit 7013 Unit 7014 Personal development as a strategic manager Strategic performance management Financial management Strategic information management Conducting a strategic management project Organisational direction Financial planning Strategic marketing…

Words 3591 - Pages 15

Strategic Planning Essay

Week One: Introduction to Strategic Management Details Due Points Objectives 1.1 Define strategic management and planning. 1.2 Create an organizational mission and vision statement. 1.3 Analyze an organization in terms of its structure, culture, and purpose. 1.4 Develop a strategic plan. 12/17/13 Readings Read Ch. 1–3 & Ch. 2 Appendix of Strategic Management. Read Ch. 7 of Strategy: Winning in the Marketplace. Review this week’s Electronic Reserve Readings. 12/17/13 Participation…

Words 1785 - Pages 8

Essay on chapter 6 notes

section distinguishes among strategy, strategic management, and strategic planning. We describe three reasons why strategic management and strategic planning are important and how they may work for both large and small firms. business plan, a document that outlines a proposed firm's goals, the strategy for achieving them, and the standards for measuring success. strategy is a large-scale action plan that sets the direction for an organization. Strategic management is a process that involves…

Words 939 - Pages 4

Human Resource Management Task 1 Assignment

DINA TEPLICKA Human Resource Management Task 1 Mark it down CO LTD assignment In general, HRM is a strategic and systematic approach to managing people in a way that would maximise their motivation and contribution towards meeting the organisation’s objectives. A HRM Plan is a departmental document which aims to predict what programmes are required in the next few years to practise HRM within the organisation. The aim of a HRM Plan is to help the department to achieve its mission and objectives…

Words 1316 - Pages 6

Essay on 7100 Strategic Plan

Hi friends, I present you the strategic planning of Amtrak Company. I found it on their company website. Based on the Vision and Mission we have established for Amtrak, as well as the challenges and opportunities we face, we have established a concise set of long-term corporate goals that serve as measurable signs of our progress. Our corporate strategic goals focus on three strategic themes: 1. Safety and Security 2. Customer Focus 3. Financial Excellence…

Words 591 - Pages 3

Ind: Strategic Management Process Essay

Strategic Planning Report Angelia Pino March 23, 2015 HCS 589 Dianne Nelson Strategic Planning Report Organizations establish priorities to determine the importance of the organization while combining available resources and energy. Strategic planning educates supervisors, staff and stakeholders the importance of directing their attention to the common goal. Strategic management provides the necessary tools for an organization to determine their mission and future success. Once the organization…

Words 909 - Pages 4