Business Strategic Plan 5 Capstone Performance Project ✓ Solved
BUSINESS STRATEGIC PLAN 5 Capstone Performance Project (HRM699)
Building a successful business requires time, planning, and a business strategy. Success will not happen overnight; building a successful business is not a sprint but a marathon. The final project objective was to create a business strategy plan for a local organization. I chose to create a business strategy plan for Jimbo Transport LLC based out of Atlanta, Georgia. I selected this business because this is an industry that I am looking into getting into in the future.
I had the pleasure of interviewing the owner to discuss their current strategy and what they have planned for future growth. The transport industry has shown steady growth over the years. There is a lot of competition and enough work to go around; however, there must be a plan in place to differentiate the business from competitors. This essay will examine Jimbo Transport LLC’s success and look at possible improvements that can help them in the future. The trucking industry is continuing to grow, and businesses of all sizes depend on their services every day.
Introduction
Jimbo Transport LLC is a family-owned business that has been operating for twelve years. The home office is located in Atlanta, Georgia; it is a well-established business that provides its services throughout the country. The company was established in 1999, beginning with one truck and now flourishing into a fleet of ten trucks. The owner of the company is Mr. Stoney Mathis, who is a military veteran that retired in 1999 and started a company that was near and dear to his heart. The company was named after his father, the late James Mathis.
Interview with Owner/Management
To understand more about Jimbo Transport LLC, an interview was conducted with the owner. The first question was about the motivating factors that led to the establishment of the business. According to Mr. Mathis, the experience he gained in the military provided him not only with skills but also with a strong sense of duty, which inspired him to start Jimbo Transport LLC. The second question addressed the pros and cons of the trucking industry.
During the interview, it was important to understand some of the challenges that the organization has faced. The third question focused on new technologies that enhance the performance of the business. Mr. Mathis highlighted that the implementation of GPS tracking and route optimization software has significantly improved efficiency and customer satisfaction.
Organizational Motivation
Organizational motivation is crucial for any business, especially in the competitive trucking industry. Jimbo Transport LLC motivates its employees through competitive salaries, incentives for performance, and opportunities for professional growth. The owner emphasizes the importance of recognizing the hard work of employees, which fosters loyalty and commitment to the company's objectives.
Innovation Strategy
The innovation strategy of Jimbo Transport LLC involves staying abreast of technological advancements in the trucking industry. This includes exploring alternative fuel options, such as compressed natural gas and electric trucks, which can reduce operational costs and environmental impact. Investing in technology not only enhances performance but also demonstrates the company's commitment to sustainable business practices.
People Strategy
In building a solid people strategy, Jimbo Transport LLC focuses on creating a diverse workforce that reflects the community it serves. The company actively recruits individuals from various backgrounds to bring different perspectives and ideas to the table. This diversity fosters creativity and innovation, which is vital for staying competitive in the market.
Talent Acquisition
Talent acquisition is another essential component of Jimbo Transport LLC's strategic plan. The company seeks to attract top talent by offering comprehensive training programs, benefits, and a positive work environment. By investing in the workforce, Jimbo Transport aims to reduce turnover rates and cultivate a skilled team that can drive profitability.
Leadership Development Strategy
The leadership development strategy at Jimbo Transport LLC emphasizes building future leaders within the organization. Mr. Mathis believes in mentoring employees who show potential, offering them leadership training that prepares them for managerial roles. This strategy not only motivates employees but also strengthens the organization as it grows.
Performance Management Strategy
The performance management strategy involves setting clear performance indicators and regularly reviewing employee output against these measures. Jimbo Transport LLC conducts quarterly performance reviews to assess individual contributions and provide constructive feedback. This practice ensures that employees remain aligned with the company's goals and encourages continuous improvement.
Diversity Strategy
Jimbo Transport LLC's diversity strategy aims to create an inclusive workplace. The company prioritizes diversity in its hiring practices and promotes an environment where all employees feel valued and respected. This commitment to diversity enhances team dynamics and creativity, allowing the company to adapt to the evolving needs of clients and the industry.
Recommendations on Improvement
To further enhance its competitive edge, Jimbo Transport LLC should consider the following recommendations: 1) invest in marketing efforts to better promote its services; 2) adopt advanced technology for fleet management and maintenance; and 3) engage in community outreach programs to build a positive brand image within the local area. These improvements can solidify the company's reputation and foster long-term growth.
Conclusion
The strategic plan developed for Jimbo Transport LLC outlines various components that contribute to its success in the trucking industry. By focusing on organizational motivation, innovative practices, effective talent acquisition, and maintaining a diverse workforce, the company can better position itself to thrive in a highly competitive environment. With the implementation of the recommendations provided, Jimbo Transport can look forward to sustained growth and a bright future.
References
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