October 5, 2017

Strategic business planning entails an organizational process in which entities define overall operating strategies. Decision-makers outline how resources will be allocated with the aim to fulfill operational targets listed in the blueprint. The planning may also cover a variety of control mechanisms, which provide guidance for the implementation of the blueprint. The approach was introduced in the 1960s and it still plays a central role in strategic management. Business planners are tasked with the responsibility to execute the plan. The team uses multiple resources to analyze various internal and external factors to identify a viable strategy. A good plan makes it easier to gain a competitive advantage on the market. It has the capacity to improve both the formulation process and the implementation of objectives listed in the blueprint. Strategic planning is characterized by a distinctive analytical approach. The planners need to carefully find and connect the dots to build a bigger picture that drives results and boosts the company’s bottom line. The formulation of strategy involves the connection of dots as part of a process known as synthesis. This is achieved via strategic thinking. Strategic management processes and activities The planning process is defined by a wide variety of factors, including activities, inputs, outputs and outcomes. However, the process comes with a significant number of constraints that must be ironed out. Role-players may engage in the planning phase informally or formally and the entire process is typically iterative. It is characterized by feedback loops. Many segments of the process are continuous while others can be implemented in the form of discrete projects. They come with a definitive start and end in a given timeframe. The approach provides inputs for role-players to engage in effective strategic thinking. In turn, this guides the actual strategy formulation. Once completed, the organization will have a working plan that defines the overall strategy. The planners take into account the competitive situation faced by the business based on their diagnosis of the market environment. The final blueprint outlines key initiatives or action plans. Organizations need to consider four elements during the planning phase. These include organizational values, company’s strengths and weaknesses, external expectations, operational risks and market opportunities. Some of the factors focus on internal elements while others are externalized. These factors influence the decision-making process. When it comes to inputs, role-players gather data form multiple sources. They can achieve this objective by interviewing stakeholders, including the managers, key executives, conduct primary research and review relevant documents. These actions may form part of the competitive intelligence program. Planners use the inputs to build an in-depth knowledge of the operational risks, business opportunities and competitors.

Anyone who wishes to enter the highly competitive restaurant business will have a hard time attracting and retaining customers. This is because there are hundreds of amazing restaurants in every major city. Each restaurant has its own strength, which keeps customers coming back time and again. For some, it’s the great-tasting food that keeps customers coming back. For others, it’s the ambiance. Other reasons why customers may prefer one restaurant to others include; affordable meals, quality customer service and strategic location. Since all the commercial space in strategic locations are already taken, you will not have the advantage of location. The good news is that you can control everything else. For instance, you can hire the best chef in the city, invest in professional restaurant design, hire an interior designer and ensure your staff are properly trained on how to take care of customers. If you get this right, you may be able to attract and retain many customers. Hiring a Restaurant Design and Fitout Company There are many companies that design and fit restaurants in any given city. Therefore, you will not have a hard time finding qualified contractors. However, it is important to note that all these firms are not the same. Some are great while others only offer basic design services. Below are some of the things to look for when looking for a firm to design or fit your restaurant: i) Experience The number of years a firm has been in business and the number of restaurants they have designed in the city are two of the most important factors to consider. You want a firm that has designed dozens of restaurants over the last couple of years. This is because they have proven to be competent, creative and reliable. ii) Quality of Service You should not make a decision before you take a look at the portfolio of a company. Portfolios normally contain pictures of previous projects. Therefore, you can learn a lot about the quality of service offered by a company by simply looking at some of their previous works. Only firms that have designed restaurants that meet your needs and expectations should be hired. iii) Licensing Contractors are required by law to have a valid contractor’s license to offer services to the public. Therefore, you should check whether or not the firms on your list are licensed to offer building design services in the city. The ideal firm should also be insured and bonded. iv) Cost The cost quoted by all the firms on your list should be checked. This is because some firms will charge exorbitant rates while others charge reasonable rates. A simple comparison of quotes will save you a lot of money.