Professional Documents
Culture Documents
STUDENT DETAILS
Assignment: Individual Assignment: Group Assignment:
Name: ID# Programme/Department:
Anisha Kirlew-Clemmings 20151820 Bsc. in Accounting
Jody-Ann Thompson 20122510 Bsc. in Accounting and Financial
Maurice McLeod 20162073 Management
Shernett Bennett 20161956 Bsc. in Accounting and Financial
Julene Henry 20083319 Management
James Johnson 20041986 Bsc in Business Administration
Bsc in Business Administration
Bsc in Business Administration
COURSE DETAILS
Course Code: (eg. HRM306) Course Title: (eg. Human Relations in
MGT 400 Organisation)
STRATEGIC MANAGEMENT
Lecturer: (eg. First Name Last name)
ANDREW EDIE
ASSIGNMENT DETAILS
Assignment title: (Title of the essay, project or the question)
GROUP ASSIGNMENT
Word Count/Length: (If required) Submission Due: (day, month year)
MARCH 8, 2021
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I/we certify that I have read and understood the implications of the Academic Integrity and
Copyright guidelines on my Course Outline. I certify that the assignment submitted is my own
work and that all materials used from reference sources have been fully acknowledged. Click to
agree
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Lecturer’s/Examiner’s Comments: Comments: 2nd Marker: [ ] Vetter:
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SOUL FOODS LIMITED STRATEGIC PLAN 2
Name: Name:
Signature: Date: Signature: Date:
What did I read for this Journal Articles and Strategic Management by Gupta, Nitish Sen
course (apart from the
notes)?
What was the most The most important thing I have read is that the Strategic
interesting thing I read Management process also covers formulating the organization’s
for this course . Why overall vision for present and future objectives. This is interesting
because make me understand that without going through the
was that interesting?
Strategic Management process one may not have a clear objective
of the organization. It is also interesting for me who is an aspiring
entrepreneur to be clear of the processes to have a successful
business.
What were three (3) Three main things that I learned from this course is
main things I learned
from this course? How to create a strategic management plan
One (1) thing that I One thing that I have learned from this course that can be applied
learned that can be immediately to work or school is that with proper strategic
immediately applied to planning the attainment of objectives are easier.
work or school is…
SOUL FOODS LIMITED STRATEGIC PLAN 3
What are some of the The internet in my area was down for a while hence, most of the
challenges experienced work had to be done while at the office. I had to strike a balance
in doing this activity?
with work and school. Those were some of the challenges I faced
while doing this activity.
How has this activity This activity has positively impacted my thinking of strategic
impacted your thinking management practices. This activity has enlighten me on the fact
of strategic
that a business is not only successful through only marketing. It
management practices
in business. takes proper formulation, implementation and evaluation
Self-Reflection:
Evidence of learning
Impact of learning on life
Grammar/Mechanics/Organizatio 5
n
Total 15
What did I read for For this course I have read articles on the internet in order to gain
this course (apart more information and a better understanding of strategic
from the notes)? management. Articles such as
What was the most The most interesting thing that I have read for this course is
interesting thing I https://www.managementstudyguide.com/strategic-management.htm
read for this course? and other articles. This document has provided me with information
Why was that in gaining a clearer understanding of strategic management and the
interesting? different concepts.
What were three (3) Three main things that I have learned from this course is; the
main things I learned strategic management process, how to conduct an environmental
from this course? analysis and how to formulate functional tactics.
One (1) thing that I One thing that I have learnt that can be applied to work or school is
learned that can be the SWOT analysis.
immediately applied
to work or school is…
What are some of the Some of the challenges experienced in doing this activity was
challenges gathering enough or suitable information relating to this project. The
experienced in doing information is a lot and requires a concise study and review of
SOUL FOODS LIMITED STRATEGIC PLAN 5
this activity? information in order to keep in line with the requirements of the
project. I also was faced with internet challenges.
How has this activity It has allowed me to gain more knowledge on strategic management
impacted your hence I can now relate to some of the decisions that are made by the
thinking of strategic top management in my organization. Also it has helped me as an
management practices individual to be able to apply these strategic processes or practices in
in business? my small business, which will result in a positive outcome in the
future.
I am now able to see when the management team make certain long
term decisions about recruiting, selection, training, liquidation within
my workplace the long term benefit of it to the life of the business.
Self-Reflection:
Evidence of learning
Impact of learning on life
Grammar/Mechanics/Organizatio 5
n
Total 15
What did I read for this In order to get a broader understanding of Strategic
course (apart from the Management, I used the google scholar as the primary tool for
SOUL FOODS LIMITED STRATEGIC PLAN 6
What was the most In understanding how to craft plans that will have a positive
interesting thing I read outcome on the life of your business three interesting things I
for this course? Why was covered are:
that interesting?
1. The Strategic Management Process: Sakas, D., Vlachos,
SOUL FOODS LIMITED STRATEGIC PLAN 7
What were three (3) Value Chain Analysis, SWOT, PEST, and PESTLE
main things I learned
from this course? Strategy and Strategic Management
One (1) thing that I The idea of a personal SWOT analysis is the one thing I have
learned that can be already applied to my life. In order it identify my
immediately applied to entrepreneurial spirit, doing a SWOT has exposed me to
work or school is… things I never knew about myself.
What are some of the The biggest challenge I experienced in this course was doing a
challenges experienced PEST analysis on an industry from a global standpoint. The
in doing this activity? information is vast and it requires patience and attention to
detail in order to find information specific to what is needed.
How has this activity I am now able to see when the management team make
impacted your thinking certain long term decisions about recruiting, selection,
of strategic management training, liquidation within my workplace the long term
practices in business? benefit of it to the life of the business.
Name of student: 10
Self-Reflection:
Evidence of learning
Impact of learning on life
Grammar/Mechanics/Organizatio 5
n
Total 15
What did I read for this Rothaermel, F., McDonnough, R. (2012). Strategic Management:
course (apart from the Concepts and Cases.Boston, MA. McGraw-Hill Education.
notes)?
What was the most The most interested thing I read fort this course is the Competitive
interesting thing I read Advantages and Strategic Choices in Growing Industries and
for this course . Why Declining Industries. Why, because as an aspiring entrepreneur, I
was that interesting? believe it is important to understand the differences of both
industries and the different features of both.
One (1) thing that I I can most definitely apply a SWOT analysis to every aspect of my
learned that can be life, whether school or work.
immediately applied to S-strengths, W-weakness, O-opportunity, T-threats
work or school is…
What are some of the A lot of information to process in a short time span to produce the
challenges experienced a much concise
in doing this activity?
How has this activity This activity has highlighted the importance of strategic practices
impacted your thinking in business by allowing me to understand the different dynamics,
of strategic management environmental forecast to implement a recovery plan for
practices in business. businesses to survive.
SOUL FOODS LIMITED STRATEGIC PLAN 10
Self-Reflection:
Evidence of learning
Impact of learning on life
Grammar/Mechanics/Organizatio 5
n
Total 15
One (1) thing that I I have learnt to easily formulate a Mission and Vision statement.
learned that can be I can at any time assist colleagues and Clients in doing their
immediately applied to mission statement when setting up their company.
work or school is…
What are some of the On doing my various projects at times I was not sure how to make
challenges experienced my essay link and flow, although I had the information.
in doing this activity?
How has this activity In all activity you endeavor I realize you have to have a strategy
impacted your thinking in mind. Without a strategy in mind as how to get the job done
of strategic effectively, there is going to be failure.
management practices
in business.
Self-Reflection:
Evidence of learning
Impact of learning on life
Grammar/Mechanics/Organizatio 5
n
Total 15
SOUL FOODS LIMITED STRATEGIC PLAN 12
Name of student: 10
Self-Reflection:
Evidence of learning
Impact of learning on life
Grammar/Mechanics/Organizatio 5
n
Total 15
2022
SOUL FOODS LIMITED STRATEGIC PLAN 14
Executive Summary
The operations of Soul Foods Limited have been greatly affected due to the devastating
impact of corona-virus. The organization is on the brink of closing its doors, amidst various
efforts to pivot and to restructure the company. We as strategists seek to formulate a strategic
plan for Soul Food Limited that will assist the organization to gain a competitive advantage
in the market, which will boost sales and result in greater returns. We believe that an effective
strategy can only be implemented through proper analysis of different sectors of the market.
This analysis will allow us to select a strategy that will effectively build and improve a
In order, to select a strategy that will effectively build and improve a sustainable competitive
advantage for the organization, the following evaluations were conducted. An industry
analysis in which the Porter’s Five Forces was used to identify Soul Foods market position
with its competitors. A competitive analysis that compared the organization against strongest
competitors. We performed a PESTLE at both the local and global level, which highlights the
key external factors that are affecting the organization. An environmental forecast and an
internal analysis were also performed which outlines the strength and weaknesses of the
organization.
SOUL FOODS LIMITED STRATEGIC PLAN 15
could readily identify the cross similarities which aids in the decision making process. The
analyses conducted identified the areas of Soul Foods Ltd that are critical to the business
continuity and growth. The strategists then find an appropriate grand strategy for the
implemented.
SOUL FOODS LIMITED STRATEGIC PLAN 16
Executive Summary.............................................................................................................................15
Overview.............................................................................................................................................19
Vision Statement..........................................................................................................................20
Mission Statement........................................................................................................................20
Core Values..................................................................................................................................20
Current Business Position....................................................................................................................22
Market Shares and Financial Details............................................................................................22
Grace Kennedy.....................................................................................................................22
Lasco Distributors.................................................................................................................23
Industry Analysis.................................................................................................................................24
Competitive in the industry..........................................................................................................24
Potential of new entrants into the industry...................................................................................25
Bargaining power of suppliers......................................................................................................25
Bargaining power of buyers.........................................................................................................25
Threats of substitute.....................................................................................................................26
Domestic Environmental Analysis.......................................................................................................33
PEST JAMAICA..........................................................................................................................33
Global Environmental Analysis...........................................................................................................36
PESTLE USA & Global Market..................................................................................................36
Environmental Forecast: Del Monte....................................................................................................39
Del Monte Product Strategy.........................................................................................................39
Del Monte Price/Pricing Strategy.................................................................................................41
Del Monte Place & Distribution Strategy.....................................................................................42
Del Monte Promotion & Advertising Strategy.............................................................................42
Internal Analysis (SWOT)...................................................................................................................44
Potential Business Recovery Strategies...............................................................................................46
Objectives....................................................................................................................................46
Soul Food Business Recovery Strategy and Implementation Plan......................................................47
Short-Term...................................................................................................................................52
Projected Growth.................................................................................................................................54
Functional Tactics................................................................................................................................55
Organizational Structure......................................................................................................................57
Conclusion...........................................................................................................................................58
Reference.............................................................................................................................................59
SOUL FOODS LIMITED STRATEGIC PLAN 18
Overview
Soul Foods Limited is a canned food distributing company started in 2009 by Jimmy and
Melissa Jones. It is located at 121 Old Hope Road in Kingston, Jamaica. The company
currently supports both local and global markets with a wide variety of canned food items.
Some of the products that are distributed are fruits, vegetables, beans, soups, meats, and
seafood. Each product line is carefully developed to avoid major allergic or medical
conditions. The products offered by the company are primarily sold to retail stores and
supermarkets in Jamaica, the US, Canada and parts of Central America. Primary customers in
Jamaica are Mega Mart Food store, Progressive, Shoppers Fair, Island wide Boxing, Lee’s
Food Fair Ltd, Brooklyn Supermarket, Hi-Lo supermarket amongst others. Customers in
North America are Walmart, Costco Wholesale Corp., The Kroger, Publix, and Empire
Company Limited. Major customers in Canada are Metro, Sobeys, Safeway, No Refills and
Real Canadian Superstore. Customers located in Central America are OXXO, SHV Makro,
The company currently occupies roughly 25 percent of the local market and around 15
percent on the international market. Some major competitors that supply these markets are
Del Monte (canned foods), GraceKennedy Limited (canned seafood, meat and vegetables),
Vision Statement
Soul Foods Limited vision statement “Access to organic food in every household” This
statement outlines that the company wants to have world wide reach and have its customers
Mission Statement
The organization mission is to "To produce and distribute healthy food choices and
Core Values
The company has outlined a number of core values which forms the foundation on which
they perform work and conduct themselves. These are values includes:
● Customer Commitment
We develop and promote positive relationships with our customers to make a lasting positive
● Quality
We care about our customers and their customers’ health, hence, we produce outstanding
products and unparalleled service that will believe in world-class value to our customer.
● Integrity
We value people in our community, country, and the world, we acknowledge their efforts,
● Good Citizen
We are good citizens in our communities, country and the world. We are for the people,
● Team Work
We are a unity and we work collectively for the satisfaction of our customers.
● Personal Accountability
● A Will to Win
We exhibit a strong will to win in the marketplace and in every aspect of our business.
SOUL FOODS LIMITED STRATEGIC PLAN 21
Del Monte
This company is one of the world’s leading vertically integrated producers, marketers
supplier to Europe, Africa and the Middle East in fruits, vegetables, juices, beverages
and snacks. Del Monte occupies 19 percent of the market of bananas in the world with
an estimated 19 percent global share. Thus making them the third largest company
operating in the canned food distributing industry. In 2020, for the first quarter of
2020 was $13.0 million, compared with net income attributable to Fresh Del Monte
Produce Inc. of $36.1 million in the first quarter of 2019. Adjusted net income was
$16.4 million in the first quarter of 2020, compared with adjusted net income of $22.5
Grace Kennedy
Grace Kennedy is one of the Caribbean’s largest and most dynamic conglomerates
providing food and financial services to the Caribbean, UK and the Americas. They
employ over 3000 people worldwide and offer products ranging from corned beef, tin
mackerel, and coconut milk in a can and in a bag along with a wide rate of food items
to suit any need. This company is one of the primary distributors of canned foods in
Jamaica, the Americas and parts of the UK. Their current market percentage is
roughly 20 percent for the UK market. This has made a local company a force to be
reckoned with in the global canned food industry. Profit before other income
SOUL FOODS LIMITED STRATEGIC PLAN 22
increased by 82% over prior year, from J$3.7 billion to J$6.8 billion. There was a
notable increase of 58.5% in profit before tax for 2020, totalling J$9.7 billion, while
profit after tax totalled J$6.9 billion compared to J$5.1 billion in 2019, an increase of
Lasco Distributors
Lasco is a member of the Lasco Affiliated group of companies. The primary activities
currently has a market value of over five billion Jamaican dollars as at financial year
ending March 31, 2013. Lasco is ranked one of Grace Kennedy biggest competitors
within the Jamaican market. The total percentage of the market that is occupied by
Grace is approximately forty percent and this is growing as the group is actively
working on acquiring other distribution giants in the business. For the six-month
period ended September 30, 2020, the company said its net profit was $737 million,
an increase of 31 per cent over the previous corresponding period. Revenue grew to
$4.1 billion, up by seven per cent over the same period of last year, while operating
Industry Analysis
Now that we have properly analyzed the organization, it is time to take a deeper look at the
industry in which it operates. According to (Barksdale, 2021) the Canning industry started in
France after government officials hosted a competition to find a way to preserve food for
soldiers at war. Nicolas Appert came up with the great innovation of preserving food in
champagne bottles and wide-necked glass. In 1804, he found another innovative way to store
meat, which was in cans. After this test was successful the canned food industry was official
accepted as a means of preserving any food kind. Currently, the canned food industry is
dominated by three major competitors, which Soul Foods Limited is seeking to gain a
competitive advantage.
In order for Soul Food Ltd to be a top tier within this competitive industry, they must be
analyzed using the Porter’s Five Forces Model. According to (Scott, 2020) Porter's Five
Forces is a model that identifies and analyzes five competitive forces that shape every
industry and helps determine an industry's weaknesses and strengths. Five Forces analysis is
analysis will be done on five areas: Competition in the industry, Potential of new entrants into
The industry holds numerous competitors both local and international who are deemed Souls
Foods Ltd rivals. There are currently three major competitors Grace Kennedy Ltd, Lasco
Distributors, and Del Monte. According to (Industry Analysis, n.d) Tough competition leads
to reduced profit potential for companies in the same industry. The analysis shows that brand
loyalty is a major factor and industry leaders are diversified. Grace Kennedy produces high
SOUL FOODS LIMITED STRATEGIC PLAN 24
quality products and has a household name; Lasco Distributors also has a household name
and Del Monte possesses quality for customers. The industry growth shows that in 2019 Del
Barriers to entry act as a deterrent against new competitors. The economies of scale shows
the market share that each competitor holds. Grace Kennedy 4.25%, Lasco 3.7%, and Del
Monte 6.7%. These key players have strong brands and tend to produce in high quality, the
canned food industry is vertically integrated. This means they are more than a moderate
threat to new entrants. Vertical integration benefits companies by allowing them to control
Suppliers of the industry supplied too many different customers and buyers' threat of
backward integration was negative as capital requirements were too high. The number of
buyers in the industry shows a large number of fragmented retailers. Substitution was not
easily accepted due to brand loyalty. Suppliers in the industry have little to no power, as the
securing of raw materials for productions was available from many different sources.
The individual buyer has little to no pressure on Soul Foods Ltd. Food retailers are the main
consumers who generally have the buying power. This power heightens when they are a
chain of retail stores. According to (Jones, 2006) powerful buyers have a significant impact
SOUL FOODS LIMITED STRATEGIC PLAN 25
competitive prices but substitutes are not easily accepted due to brand loyalty.
Threats of substitute
When it comes to the canned food industry, there are many substitutes that offer convenience
and low pricing. A consumer has the choice of going to many specialty stores to get their
desired canned food. According to (Jones, 2006) availability of substitute products will limit
a company’s ability to raise prices. Soul Foods Ltd must stay within range, as substitutes
We have carefully reviewed the canned food industry and found out that it is generally on a
high-low demand margin. This section will provide a competitive analysis that compares
Soul foods Limited to its major competitors. According to (Jones, 2006) the purpose of the
competitive analysis is to determine the strengths and weaknesses of the competitors within
your market, strategies that will provide you with a distinct advantage, the barriers that can be
developed in order to prevent competition from entering your market, and any weaknesses
that can be exploited within the product development cycle. The strategist used a SWOT
Analysis and eleven objectives to evaluate each organization ,which is outlined in the
canned foods
worldwide.
SOUL FOODS LIMITED STRATEGIC PLAN 27
variety.
marketing.
Products and Canned food, Canned food, Canned foods, Canned food,
Services
SOUL FOODS LIMITED STRATEGIC PLAN 28
Pricing Pricing ranges from Value based and Value based Value based and
strategy. pricing.
exportation exportation
GRACE KENNEDY
SOUL FOODS LIMITED STRATEGIC PLAN 29
STRENGTHS WEAKNESSES
· Strong capital
UK and Africa.
OPPORTUNITIES THREATS
revenue diversification.
· Decline in customer disposable
LASCO DISTRIBUTORS
SOUL FOODS LIMITED STRATEGIC PLAN 30
STRENGTHS WEAKNESS
Profitable position
Innovation
Reputation
OPPORTUNITY THREATS
obligations
Jamaica
DEL MONTE
SOUL FOODS LIMITED STRATEGIC PLAN 31
STRENGTHS WEAKNESSES
segments of operation.
OPPORTUNITIES THREATS
markets crisis
This research will provide a general view of Jamaica and its interaction on a global level.
These factors play a significant role in the way the company is running and the impact it will
PEST JAMAICA
Political Factors Tighter reins on credit, limits the access to mortgages which in
Economic Factors Any slowing of economic recovery could negatively impact the
rates (IR) reduce financing costs and increase the opportunities for
influence the demand for real estate, which impacts the projected
This shows that there is a potential for businesses that provide essential services to the
and trends existing in the economy will aid in the effective positioning of business for
This analysis will provide general information about the business environment primarily in
Political Factors The USA has a strong democratic setup and effective rule of law,
2010).
Economic Factors With a GDP of over $16.760 trillion, the US is the largest
Social Factors Like most developed countries, the US faces the problem of an
Factors economy. Since its inception, the country has been leading in
analysis conducted by Ojala (2019) the company utilizes a Cost Leadership structure as its
international strategy. In an analysis of the 4Ps of Del Monte, the following were the
findings.
Del Monte is recognized for the quality processed food and a unique taste. Del Monte offers
around 200 products in its marketing mix from about 40 different types of vegetables,
tomatoes and fruits, where 100% of vegetables and tomatoes and approximately 90% of fruits
are grown in the United States in the best growing regions to ensure the consistent quality of
the foods. The majority of the produce is picked and packed on the same day about 95% of it
without preservatives. The canned fruits, vegetables and tomato products maintain the same
nutrient value as fresh when provided in cans. The following are provided in cans as:
Vegetables
· Canned beans
· Corns
· Peas
· Carrots
· Potatoes
· Spinach
SOUL FOODS LIMITED STRATEGIC PLAN 38
· Mixed vegetables
Fruits
· Peaches
· Mangoes
· Pineapple
· Mandarin oranges
· Cherries
· Mixed fruits
· Pears
Tomatoes
· Diced
· Stewed
· Whole
· Wedges
· Sauce
· Paste sauce
· Juice
· Condiments
SOUL FOODS LIMITED STRATEGIC PLAN 39
· Fruit refreshers
Del Monte while deciding the price of the products, analyze various factors like global
economic environment, inflation and foreign exchange rates, consumer’s willingness to pay
and affording capacity and competitors like ConAgra foods, Nestle, Mars pricing strategy.
The company follows the competitive pricing strategy in its marketing mix wherein they keep
the price of the products at par with the rivals. Del Monte puts most of their products in the
affordable price range to make the sale in huge volumes and capture market.
SOUL FOODS LIMITED STRATEGIC PLAN 40
Del Monte believes in farming with care and these farms are being with them for
generations. Most of these are community farms across the U.S. About 95% of the food
produced in these farms travel less than 100 miles from farm to the manufacturing plant. Del
Monte has an employment of 8,100 with a workforce of 2,700 full-time and 5,400 seasonal
workers. The production takes place at 12 facilities and 7 distribution centers across the U.S.,
and 2 production facilities in Mexico. It has a research Centre located in Walnut Creek, CA
approximately four miles away from the Headquarters. The research Centre focuses on
product development, packaging, quality assurance, food safety, and sustainability programs.
Del Monte products have a global presence and are available in different retails shops, super
In addition, their official website provides the consumers an option to find the nearest store
Del Monte decided to invest in mass advertising and its first advertisement was published in
Saturday Evening Post considering the target audience as the middle and upper class segment
of the society. Since then it is utilizing electronic and print medium for promotion and
magazines, hoardings and displayed on billboards and hoardings. Del Monte is also
promoting with the help of Social media. The company has social media influencers like
The company also focused on content marketing and came up with social campaigns like
Thanksgiving Green Beans and Fruit Burst Squeezers Back to School campaigns, which were
initiated in 2013-2014 to promote the brand. Two more social campaigns “Don’t Be a Sucker
for fruit drinks” (with singer Baba Sehgal) and “Del Monte Mayonnaise: Works Every Time”
in 2016 were launched. Social media campaign has helped the company to engage with the
existing customers and to create awareness to the potential customers. Del Monte came up
with the concept of putting recipes, which can be prepared using the company’s products, this
is the exclusive thing introduced by them. The company has announced to continue with
digital medium for consumer engagement and brand building plans in the future as well.
Pulling on the information obtained from the industry analysis, the below is the SWOT
analysis for Soul Foods Limited as it reserves its space in the domestic and global market.
2.No GMO.
3.Hires domestic.
5. Food quality
4. insufficient machinery
choices.
3.Global markets
2.Importation taxes,
3.Tarifs,
4. Political unrest.
SOUL FOODS LIMITED STRATEGIC PLAN 44
Objectives
Long Term:
Short Term:
2. Introduce online shopping and home delivery services to major towns and
cities close to each store by May 2021 and introduce shoppers to pick up
4. Add to the product line-up canned vegetables and halal chicken September
2021.
SOUL FOODS LIMITED STRATEGIC PLAN
The following strategy and implementation plan was developed for Soul Foods Limited to
assist the organization in recovery and strategies to balance the immediate needs of your
1. Innovation
Strategies
Action Plan
groups
iii. Provide sampling and taste testing at local and regional outlets for
products
Indicators
Timeline
SOUL FOODS LIMITED STRATEGIC PLAN
August2021
Expectation
2. Market Development
Strategies
Action Plan
Indicators
Timeline
October 2021
Expectation
Net Increase in Sales in the Latin and Spain Community by approximately 30 million JMD
3. Horizontal Integration
Strategies
Acquire similar distribution companies Mac Distributors and Distribo de Casa and use
Action Plan
II. Transform sub outlets for Mac Distribution to holding houses to store
Indicators
Timeline
October 2021
Expectation
Net Increase in Sales in the Latin and Spain Community by approximately 30 million JMD
SOUL FOODS LIMITED STRATEGIC PLAN
4. Concentric Diversification
Strategies
Acquire Costo Food stores in Main Donats in Texas and Glokal in Alabama to distribute
products
Action Plan
i. Businesses are located in land, far from major cities, acquiring these would give
ii. Build storage units on each store and truck products that are high in demand on
a weekly basis
Indicators
Timeline
November 2021
Expectation
5. Turnaround
SOUL FOODS LIMITED STRATEGIC PLAN
Strategies
i Boost brand online through social and digital media such as Facebook,
ii. Launch E- Commerce platform an promote it on the various social and digital
platforms
Action Plan
i. Provide weekly post on products, its uses and outline the benefits,
Indicators
Timeline
December 2021
Expectation
Net Sales of 100 million JMD in all markets from online shopping
SOUL FOODS LIMITED STRATEGIC PLAN
Long-Term
❖ Become a dominant force in the canned food industry by 2025 occupying approximately 52 percent of
market shares.
❖ Establish storage, production, and distribution sites in Puerto Rico, Florida, Portland, Wales, and
The purpose of this objective will be to position the Soul Food Limited brand in the minds of international
consumers. Through the use of social media and popular digital media platform, as well as the use of specific
tags that is frequently searched, most searches will have the brand name as a possible hit for the search. Tags
such as #eating, #healthy, #Shopping COVID Free, etc. will be used in social media initiatives to enforce the
With the introduction of shoppers and shopping online, consumers will join the ranks of companies such as
Instacart, which offers customers the opportunity to order products online, communicate with in store personnel
who will handpick the products and deliver them to the specifications of the customer.
With the presence of new instore and delivery shoppers, there will be the need for more goods as more and
more people will be shipping from the comfort of their home. This will increase the general demand for goods,
which will translate, to more profit, more business, and the creation of more business sites.
Short-Term
❖ Assume a total of 35 percent market share collectively in the US and Jamaican market by December
2021.
SOUL FOODS LIMITED STRATEGIC PLAN
❖ Introduce online shopping and home delivery services to major towns and cities close to each store by
❖ Enter the UK market and assume approximately 10 percent of market share by January 2022.
❖ Add to the product line-up canned vegetables and halal chicken September 2021.
The attainment of the short-term goals for the company will be critical in the long run of the company. As such,
through consistent marketing initiatives and the introduction of instore and delivery shopping solutions, the
company will start to gain a wider reach of the Jamaica and American market. The same service will be
introduced to the UK population but on a smaller scale as this will be done as a pilot. The addition of more
vegetables to the lineup and halal chicken for the Arabic population will reach a wider range of the population.
The short-term goals done consistently will show a gradual growth in the company's profitability over the next
five years.
SOUL FOODS LIMITED STRATEGIC PLAN
Projected Growth
With the implementation of the marketing and strategic interventions, the company is expected to see consistent
growth in market shares, customer base and revenue over the next five years.
In Order to meet the Strategic goals of the company, the following functional areas must execute the following
steps consistently:
Marketing
i. Run a quarterly customer behaviour service on major brands to assist Research and
Development in improving the consistency of their offerings
iii. Post a new product video every other day and promote video to enhance reach
ii. Attract, train, and maintain talent to improve the company's brand.
Finance
Operational/Production
Sale
iv. Use first time subscription, bonus points and a point earning system to support sales
Conduct product testing based on information on consumer behavior obtained from marketing
SOUL FOODS LIMITED STRATEGIC PLAN
Organizational Structure
SOUL FOODS LIMITED STRATEGIC PLAN
Conclusion
In the canned food industry, Soul Food Distributors has the potential to become a household name. To achieve
its 2026 vision, the organization will need to take a creative strategic approach that includes vertical and
horizontal acquisitions as well as engaging in e-commerce to expand into new markets and gain market share.
This will require the efforts of all organizational units performing unique tasks that are aligned with the
company's strategic vision. The organization will achieve its 2026 vision with careful execution, tracking, and
control.
SOUL FOODS LIMITED STRATEGIC PLAN
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20162073 Conclusion
Organizational structure
Projected growth
Competitive Analysis