This paper covers the strategy planning that was performed for a company operating in the Australian printing industry. Topics discussed include strategic vision, analysis on the internal and external environment and generic strategies that can be pursued. It looks at these topics as it applies to the company Big Print and concepts and tools such as Porter’s five forces, SWOT analysis and Strategic group maps are discussed. A strategy is crafted and discussed on the back of the strategic vision and analysis.
The word count and scope limitations for this paper meant that actual strategy implementation processes are not covered in any great detail however their importance is mentioned.
1. Introduction 5 2. Big Print 5 2.1.0 Strategic Planning Process 6 2.1.1 Big Print’s Vision Statement 6 2.1.3 Big Print’s Mission Statement 7 2.1.4 Big Print’s Values 7 3.0 Big Print’s internal and external environment 8 3.1.1 Porter’s five forces 8 3.1.2 SWOT analysis 9 3.1.3 Strategic group map 10 4.0 Big Print’s Strategy 11 5.0 Conclusion 12 References 13
The strategy of an organisation plays an integral part in its ability to gain and sustain success. A well-constructed strategy which is properly executed can deliver significant results where others in the same industry may be failing. The importance of strategy means that the planning around it should be a priority for an organisation’s management team. (Thompson et al, 2012).
The aim of this paper is to share specific components of a complete strategic plan I have performed for an organization named Big Print. The word count and scope limitations for this paper will mean actual strategy implementation processes are not covered in any great detail. The paper will be have four sections (1) Big Print’s profile and the vision statement, mission statement and values; (2) Analysis on Big Print’s internal and external environment, including tools used to perform this; (3) Final strategies plus an explanation of their appropriateness, and (4) The conclusion which will tie all the sections together and includes reasons why it is critically important for the implementation, execution and evaluation of the strategies.
2. Big Print
Big Print is currently the leading Australian reseller of Large Format Printing solutions representing twenty print vendors including well-known companies such as HP, Epson and Canon. The company operates solely in Australia and is well recognized for its high-quality services and innovative multi-product offering. Big Print today is a publicly traded company, employing more than 100 people across the country giving it coverage of over 200 cities.
Big Print does not manufacture its own products and it is a valued added reseller with a business model of selling large-format printers and then capturing the annuity revenue streams from the ink and toner. A large-format printer is one that can produce a print that is A1 (841 mm by 594 mm) or bigger in size. Across most of its product portfolio Big Print holds the rights to exclusively resell locking out direct competition.
Big Print has recently changed CEO during a time the company is facing the trending down of revenues as less pages are being printed globally. This is a trend accelerated by smartphone and tablet adoption. The company has not had a formal meeting around strategy or performed any strategic planning for many years.
2.1.0 Strategic Planning Process
A ‘company’s strategy is management’s action plan for competing successfully and operating profitably, based on an integrated array of considered choices.’ (Thompson et al 2012, p.4). To further expand on the definition a strategy is how one intends to deal with a problem with a set of actions that are aligned to work together. (Rumelt, 2012).
Different types of approaches can be taken to perform a strategic plan. Many of them