Strategic Plan, Part I: Conceptualizing A Business

Submitted By HoneyNut81
Words: 1380
Pages: 6

Strategic Plan, Part I: Conceptualizing a Business
Mary Turner
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