The following is a framework for executing Foto Inc.’s (“Foto”) Strategic Plan. Included is Foto’s vision statement which outlines Foto’s mission and goals as a company that aims to directly impact customer’s lives. Furthermore, Foto’s financial objectives and strategic objectives, as well as the strategic intent will be discussed in detail.
Strategic Vision Strategy
We want to provide a product that captures the moments in people’s lives, the snapshot that sparks a great memory for generations to come. Our products will lead the camera industry through high quality research and development, and will provide value to our shareholders while being mindful of our offerings. We want to be the industry standard. As a result, this will increase our exposure to the public, translate into higher profits, and in turn provide expansion efforts. In caring for the environment we want to establish a green initiative that focuses on less material used in the cameras and use fewer emissions in our factories. Here at FOTO, we are, and will continue to be the industry trend setters, delivering what our customers want, and doing so through socially and environmentally responsible practices. While showing our customers that we not only provide a quality product, we want to be a pioneer in decreasing our carbon foot print.
Financial and Strategic Objectives
Foto has created financial and strategic objectives to best guide the company in being profitable and keeping Foto at the forefront of its competition. Foto’s financial goals are as follows:
• An increase in EPS of 8% annually years 7 through 12; 1.68, 1.81, 1.95, 2.14, 2.31, 2.49, respectively
• Minimum of 15% ROE annually
• Achieve an 8% increase in shareholder value through upwa...
... middle of paper ...
...cally such changes are very expensive and if the company cannot recoup the costs it is not worth it.
Another strong point was in the green initiative, as this could prove to be very expensive. This is a highly optional idea that Foto will have to wait and see about doing when the time comes in years 3 and 4, as it may not return enough value to go through with.
Ultimately, Foto’s goal was to be profitable to an extreme; however, other measures have proven to be more meaningful such as EPS, stock price, image rating etc. In turn, profitability will no longer be the number one goal and a mix of items will better leas Foto to a well-rounded state as a company.
The ideas above (in brief) are attainable and the co-managers knowing more at this point should only help Foto reach its slightly modified goals and hopefully help it to make better decisions with more impact.
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