Business model and plan

Summary The new division that Trader Joe's is developing is built on offering wholesome meals that are affordable and easily accessible at the company's stores. These meals will be served from within the stores and will comprise breakfast, lunch, and dinner. The customers are should be given menus that list all the available culinary options. The customers must choose the dish that best suits them and then order it from any accessible division employees. The goal of the new unit is to empower the company by promoting creativity and concentrating on utilizing and growing business advancements. The goal is to leverage this new online health food and ordering system to develop a smaller working expense and provide the best gourmet foods at a lower cost. The business model for the new division established at Trader Joe’s will adhere to ethical values and principles in providing the meals to the customers for their consumption. The moral consideration will involve patience, respect, trustworthy and faithfulness. Moreover, the business is developed with the environmental degradation in mind. Trader Joe’s new division is expected to reduce the amount of carbon dioxide released to the environment through reducing the amount of fuel used by serving customers meals within the stores at their convenience.

Moreover, the department will be focused on the moral and cultural considerations regarding the health and wellness of the clients to provide them with highly nutritious and hygienic meals. The assumptions are that the store customers will transform to be the clients served by the new division with meals throughout the day. However, it is expected that some of these customers may not be willing to take meals from the stores. The risks that are expected to occur may include the complications in cooking and preparing the meals thus resulting in adverse effects on the consumers or losses to the institution. Change management issues may arise since not every employee of Trader Joe’s may be willing and supportive of the new division. However, change management plans must be considered with the strategy implementation to overcome these barriers to change. The profitability of the new division is estimated to be $350,000 annually, with the growth opportunities being at 5% annually. The stakeholders are expected to benefit from the high margins of the profit, thereby realizing a wide return on their capital invested.

































Business Model and Strategic Plan

Marketing and Information Technology

Trader Joe’s new division must be promoted to the organization’s customers in a proper manner that will ensure that the clients understand everything about the new division. The store will use the internet to market the new unit in the organization detailing the specific operations of the department regarding taking orders for breakfast, lunch, and dinner. Moreover, the firm will require the most recent technologies in serving the three meals at their specific timelines. According to Sorensen (2012), Trader Joe’s will have to purchase advanced IT infrastructures such as automated machines that process the client’s request and inform the service providers of the same for efficiency and effectiveness.

Monitoring and Controlling the Proposed Strategic Plan

One of the approaches that the organizations may use to monitor and control the proposed strategic plan is to focus on continuous communication of the project and the objectives on the employees of the organization. The method would ensure that the workers have a clear understanding of the program and the expected outcomes, thereby improving the operations engaged in by these workers. Another approach would entail using risk management techniques. The risk management approach would examine the financial risks that are involved in when the new division is in operation and how these risks are to be met by the same. Finally, the company can integrate auditing methods to examine the financial growth and profitability from the new division. The initiative would provide details of whether the new division is profitable or whether it is creating losses to the organization.

Evaluating the Strategic Plan

According to Chapman (2011), when goals set are met, it follows that the plan is drawn up to ensure success of the targets. As such, since the new division is aimed at providing the clients with high quality, nutritious and cheaper meals, then the customer’s feedback will be used to evaluate how efficient the unit has been. Positive feedback from the customers will suggest that the department has met the objectives, while negative feedback will indicate that the section has not yet met the goals.

Ethical Issues Faced by the Organization

Since the new division in Trader Joe’s Stores will involve handling of directly consumed meals, various ethical concerns will arise. According to Sorensen (2012), respect, faithfulness, trustworthy, and patience are among the ethical issues that organizations dealing with directly consumed meals face. For instance, the employees of Trader Joe’s serving the customers are expected to be trustworthy and provide the clients with meals that are hygienically clean and well prepared to avoid complications such as food poisoning. Moreover, these workers must be patient and respect the customers whom they serve. The workers must also be faithful with the prices they charge for each meal. Ttherefore, they are expected not to either overcharge or undercharge any customer for the meals they request.

Legal and Regulatory Issues faced by the Organization

According to Chapman (2011), the organization will be bound to conform to the legal regulations provided by the Health Ministry. These regulations will involve the quality of meals that Trader Joe’s offers to the customers, the level of hygiene practiced in the preparation of these meals and approaches towards preventing adverse outcomes of food poisoning.

Organization’s Corporate Social Responsibility

Trader Joe’s new division will address the issue of environmental degradation due to Carbon dioxide and carbon monoxide from vehicle fuels. Notably, since the department will provide meals at reasonably lower prices within the stores, it will help reduce the fuel consumption and utilization, thereby reducing the amount of carbon dioxide and carbon monoxide released into the environment.

Possible Implications of Triple Bottom Line on the Strategic Plan and its Implementation

The triple bottom line can be implemented in the organization to quantify the performance of the new division. Concerning the implications, Trader Joe’s will understand the financial impact of the new unit and the role played by the people and the plan in the same. The triple bottom line will be implemented in the organization by identifying Trader Joe’s clients of the new division, the factors affecting their purchase of the meals provided by the new unit, the profit margins gained, the ones expected and the environmental factors, which may affect the benefits.























References

Chapman, R.J. (2011). Simple Tools and Techniques for Enterprise Risk Management. USA: John Wiley & Sons.

Sorensen, E. (2012). Business Development: A Market-Oriented Perspective. USA: John Wiley & Sons.