STR 581 Week 6 Individual Assignment - Strategic Plan UpdateFinal Version

1 Running head: STRATEGIC PLAN UPDATE – FINAL VERSION STR 581 Week 6 Individual Assignment - Strategic Plan UpdateFinal Version Individual Assignment: Strategic Plan Update—Final Version YOUR NAME STR/581 DATE NAME OF PROFESSOR Individual Assignment: Strategic Plan Update—Final Version Executive Summary Established in 1998, Kudler Fine Foods is a company that provides quality food products at a reasonable price in order to provide its customers within the San Diego metropolitan area with the best options. Kudler maintains three stores with various departments. The company prides itself in providing value for its employees and customers. From a financial perspective, Kudler’s financial statements reflect a competitive market presence within its industry based on its size and history; this can be seen within its income statement and balance sheet. Kudler’s financial forecast demonstrates that the company expects a great deal of growth in the future. An environmental scan shows that although the company faces several threats, the company has numerous opportunities it can capitalize on that may foster continued growth. Company Background Opened by Kathy Kudler in 1998, Kudler Fine Foods is a specialty food store that provides its customers with quality services and products at reasonable prices. Kudler has three stores, with locations in Del Mar, La Jolla, and Encinitas. These stores have departments that provide produce, bakeries and pastries, meat and seafood, condiments and packaged foods, and specialty dairy products. Mission Statement The purpose of a mission statement is essentially to explain the underlying rationale for a company’s existence, and at the same time, inquire as to what a company’s function is in relation to how the company places itself within society (Pearce & Robinson, 2009). The mission statement is critical in that it expresses a company’s true identity and philosophy while