I also need an outline at your earliest convenience. Document Preview: MGT350 Portfolio Description Write a report applying two models for strategic planning formulation. You may choose to report on...

Business Plan
1
Executive Summary
The following report is aimed at understanding the feasibility of the business based on the
evaluation of the business plan with respect to the strategic framework applied to the business
plan. The business plan focusses on the business concept of different kind of salon with the
company name of The Social Salon. The business aims to provide the health and wellness
solutions to the females along with providing the opportunity for social interactions and get-
togethers. The goals and objectives of this business are to establish itself as a brand of trendy
salon with core focus on best in class service and customer focussed with consistent quality.
The mission of the business is to create memorable experiences through exceptional services
and foster the environment of social interactions and activities to build a robust base of loyal
customers.
Company Analysis
The Social salon will feature a carefully selected assortment of different equipment, beauty
services and wellness programs which will be all tailored with a strong focus on the target
market. It will also sell premium beauty and hair care products with focus on serving the
entire family in one quick, convenient visit. It will excel due to its attention on their clients,
so as to build a long term relationship.
Industry Analysis
The industry growth has been largely driven by the youngsters, middle aged as well as older
people as they are the people who are increasingly concerned about their health, beauty, style
and wellness. A gap in industry is the lack of salon which focuses on the beauty services as
well as wellness of the being. The Social Salon will help in filling that gap which will have
strong focus on catering to the needs of the consumers in terms of wellness and beauty.
Business Plan
2
According to a report from IBIS world there are certain risks associated with the salon
Industry they are structural risk, growth risk as there are no dominant player in the market
and external sensitivity risk.
With a surge in demand for beauty and salon services coupled with changing customer
trends, style and preferences, the store will focus on providing stylish and cost effective
solutions to its customers. This will enable the store to expand its reach in the market. The
store will have extensive services on basis of cost, having unique size per style. The retail
outlet will also have a strong focus on its logistics, so as to have improved distribution
method. Apart from this the salon will also focus on different aspects Marketing, human
resource, finance which will helps in building different strategic plans for the salon so as to
achieve the competitive advantage.
Products and services
The design of The Social Salon offerings has been guided by the result derived from the
feasibility analysis. To properly determine the interests and preferences of its potential
clientele, the company focused on distributing its concept statement and a questionnaire to a
random sample of 200 people to have an idea about the business proposal. Based on the
conducted research, the company focuses on offering mix services which will include:
 Beauty care services
 Beauty...