A strategic business plan was developed for the purpose of achieving the objectives and goals that are described in the mission, vision and the organizational values of Native Bush Spices Australia. This paper will discuss the impact the new strategic business plan on the firm for one year has passed. Therefore, a review of Native Bush Spices Australia performance will be done against the performance indicators identified in the plan
Analysis and Evaluation of performance indicators
since one year has passed an increase in sales and revenues have increased to 20%. Which attributes to$800,000. An expansion to the overseas market was archived and currently yields 20% of the total income which attributes to $70,000. Alliances and merges of the home-based start-ups generated a 10% increase in sales where they were located. So far so good, the strategic plan seems to be steering the organization mission, vision, and values towards the right direction. This means that sales and revenue could increase in the coming years as long as the strategic plan is flexible to adapt to any changes, especially in the international markets (Hsu and Tang 2015).
The business strategic plan has done better than the initial strategic plan used by the firm. The current strategy should accommodate changes in the future in birth local and international markets (Rothaermel 2015). However, there are various situation that the strategic plan did not ache efficiently. Exhaustion of product differentiation which could lead to the reduced uniqueness of the product. The business plan could be molded into accommodating funds for further research on consumer taste and preferences and trends while analyzing their competitors’ products and providing better alliterative.
Native Bush Spices Australia has done remarkably well in the past year. It has managed to increase its sales and revenue up to 20%. This could go even higher in the coming year's thanks to the new strategic plan. Moreover, it had been able to expand in the Asian markets in countries such as Singapore and Hong Kong where it has been able to cater for the growing need on organic food substances. This is due to increase in disease related to inorganic substances filed with numerous chemicals. Sales in these markets have accounted for 10% of the total income which is a good start. However, the firms have not yet found any suitable partner for alliance marketing but the such it still going on. Therefore, the new strategic plan has proved to be efficient and essential to achieving the goals of Native Bush Spices Australia.
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