Paul Discount tires & Repairs strategic plan
- Paul’s Discount Tires & Repairs core business will continue providing tires and minor vehicle repair services to our retail customers 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-19 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.
- 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. Will we sustain this strategy?
- What is one thing we could do to improve on this strategy?
Paul Discount Tires & Repairs Strategic Plan
A- The course reading Chapter 1: Mastering Strategy: Art and Science (2014), guides about the 5 P’s strategy that will help in determining which business strategy is good and which one is bad. Through looking at the strategy described in the scenario, it is found that the scenario lacks somewhere in terms of planning, which is the first P of the 5 P’s strategy. By definition, a plan is a set of steps that a company follows to be successful. The current plan used by Steve Wilford does not outline every detail and only describes that the company will continue to do what it was doing previously. In my perspective, the business strategy is wrong in a way because the company is struggling with the pandemic and is troubled in innovating new ideas that provide what the company is striving for.
B- In the next question, the thing that is right about the business strategy followed by the business is that the current position of the business will help in making the business plan stronger (Chapter 1 Mastering Strategy: Art and Science, 2014). The company has there in the industry for the last 21 years and has gained a lot of recognition for providing products at the lowest prices possible. Hence, it can able to provide good competition to its fellow competitors. Moreover, if the company keeps offering the products at the lowest rates, then the business will not compromise anything on product quality and will keep excelling in this competitive world.
C- Being Paul’s Discount TiresRepaize and repairs the leaders of the industry, the company is currently ongoing with a competitive advantage and that is the only key strategy in this strategic business plan. Moreover, this business strategy can be able to portray a properly thought-out plan for the future. By offering the lowest possible prices without compromising the quality, the business can be able to stand out amongst its competitors in the coming years too.
D- In my opinion, the business strategy of the business can be improved if the company will utilise a proper marketing strategy to ensure that the customers are retained in the business and are not going to competitors. The business can also improve the incentive program to retain back its employees and it will help the business achieve a continuous sustained position in the industry.