Description
Write a memo answering four questions.
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(Working Document for Wk1 Discussion)
CASE SCENARIO – PAUL’S DISCOUNT TIRES & REPAIRS BUSINESS STRATEGIC PLAN
It’s a Friday at 4:00, and you are looking at the clock – it’s been a tough week at Paul’s Discount Tires & Repairs business, and the week is not over! The global
COVID Pandemic has hit the business hard, and you saw several people working there laid off this week. You feel lucky to be still working as their business
consultant!
The business is family-owned and has been in business for over 21 years. The founder of the company, Paul Wilford, started the company as a small tire shop then
expanded into service repairs. Now Paul’s grandson, Steve Wilford, runs the company, which has grown to several million in annual revenues over the past couple
of years. Steve Wilford stops by your cubicle. He looks worried and worn out from the long workday. Despite that, he greets you warmly.
“You are taking a course in Strategic Management right now, aren’t you?”
Steve asks you.
You reply yes.
“Well, that is great timing,” says Steve, “because I just drafted a 10-year strategy for our business! If I get you a copy, would you mind looking it over
during the weekend and giving me your thoughts?”
You tell Steve that you’d be happy to give your input. Within 5 minutes, a one-page document is on your desk. At the top of the page is written “Paul’s
Discount Tires & Repairs Strategic Plan.” You start to read it in your remote work office at home.
The basics of the plan are highlighted with the following three (3) bullet points:
1.
2.
3.
Paul’s Discount Tires & Repairs core business will continue providing tires and minor vehicle repair services to our retail c ustomers over the
next ten years.
Paul’s Discount Tires & Repairs will beat its competitors by providing the lowest price discount tires, vehicle repairs, exceptional customer
service, and quality work.
Paul’s Discount Tires & Repairs culture is rooted in its 21-year history. Paul’s will overcome the setbacks caused by the COVID Pandemic by
sticking to its core values and cutting costs wherever necessary. Our people will help get us through these tough times.
You look at the bottom of the page and see a post-it note with questions posed to you by Steve.
A.
B.
C.
D.
What is wrong with this strategy?
What is right about this strategy?
We are the market leader in discount tires and repairs in our city, indicating that we currently have a competitive advantage. Wi ll we sustain it
with this strategy?
What is one thing we could do to improve on this strategy?
Directions for Initial Posting:
Write a memo to Steve answering these four questions. Your memo should outline all four questions, and the answers to all fou r questions should be
supported by course materials. (Listed Below)
Theme: Introduction to Strategic Management
Mastering Strategic Management
PDF – Chapter 1 Mastering Strategy
PDF – Chapter 2 Leading Strategically
What is Strategy? It’s a Lot Simpler Than You Think
Martin Reeves: Your strategy needs a strategy
https://leocontent.umgc.edu/content/dam/permalink/ac350355-6269-4981-bb6e-52f3742aca3d.html
What is Strategic Planning? How to Develop a Process
http://www.strategy-business.com/feature/Creating-a-Strategy-That-Works
Tools and Techniques
Ratio Analysis
https://investinganswers.com/articles/15-financial-ratios-every-investor-should-use
Profitability Ratio https://www.readyratios.com/reference/profitability/#ref32
The Balanced Scorecard explained
Professor’s Notes:
•
Use the lettering system indicated below in your memo. Your answers should be listed in sections labeled “A” through “D.”
Be careful to address each question posed. Include APA formatted in-text citations and a reference list. (In this class, all applicable citations should contain the
page or paragraph numbers. The only exceptions are videos or podcasts.)
In-Text Citations – Including Page or Paragraph Numbers
•
Third-person writing is required. The third person means no words such as “I, me, my, we, or us” (first-person writing).
•
Contractions are not often used in business writing, so do not use them here.
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