Strategic and Financial Planning Assignment Help Relationship between Strategic and Financial Planning

As per business assignment help experts,there is a great relationship between strategic and financial planning. It is identified that strategic planning and financial planning are the primary responsibility of the board of trustees. These planning include the top management from the process because top management takes active and participatory part in board. It is also identified that some time board members also take strategic decisions based on the funds. In the organization, strategic planning and

financial planning viewed as cyclic way. According to business assignment help experts If the company changes its strategic planning, organization needs to change its financial planning or if the company changes its financial planning, company needs to change its current strategy, as strategy and budget both are interrelated with each other. Both the strategic and financial planning involves in defining objectives, gathering data, analyzing the data, implementing the plan and monitoring the result for the organization (Cleverley, Cleverley & Song, 2010).

Strategic Planning Initiative for Panera Bread In an organization, strategic planning initiatives are related to the outlines in order to achieve organizational goals and objectives. Panera Bread is a growing bakery café of America. Through the passion for artisan bread and developing the atmosphere, company achieves the competitive advantage that other chains simply cannot compete with. The main aim of the company is to provide vegetarian food to the customers, which is full of nutrition and hygiene within a healthily environment (Hitt, Ireland & Hoskisson, 2012). The strategic planning initiatives of Panera bread is related to the improvement in food quality by decline the use of sodium in prepared food. This can be achieved by joining National Salt Reduction Initiative. The strategic planning initiative is also related to the increases in healthier kids’ meal option in outlets and stores.  Another strategic initiative is also related to the increase in the importance of farm to fork menus in restaurants. This can be achieved by utilizing natural ingredients in the food. The strategic planning of Panera Bread is also related to increases in fast causal popularity by moving into high volume market and to develop brand awareness in the national as well as international market (David, 2009). In the strategic planning initiatives, one of the objectives is related to conduct an ongoing research on emerging trends in the restaurant industry. In order to achieve this objective, company creates monitoring of research that is conducted by the FDA about new ingredients, unhealthy ingredients and the preference of customers, changes in the menu, etc. to achieve these findings of research. In addition, the strategic planning initiatives also include the expand business in Europe through the researching market and customers about their preferences and tastes. In its strategic planning initiatives, company also looks for little bit changes in the concepts in order to enter in European market. Company believes that in order to enter in European market, the concept that worked in the US does not always work in foreign market (Hitt, Ireland & Hoskisson, 2012).

Strategic Planning Initiatives in Annual Report According to the annual report, company believes that the business depends upon the employees and management team abilities to continue to grow and to involve various strategic planning initiatives. These strategic planning initiatives play an important role and create great impact on the business in order to grow in the market. In annual report as per management case study assignment help experts the strategic planning initiatives are as follow:

• Introduce new menu items for the customers and change the menu item according to the tests and preferences of the customers in specific location.
• Keep existing items in menu and add some new items that are famous in various locations.
• Balance the unit growth and to achieve target return on invested capital for different locations or different stores and restaurants.
• Increase in the store sales and gross profit as per transactions through the investments in different areas such as category management, catering and technology in order to increase the customer base and transactions at different stores of the company
• The strategic planning initiative is also related to the increase in brand awareness among the customers with the help of greater investments in multi channel marketing and advertising, which include national and international televisions that approach both national as well as international customers (Annual Report, 2011).

    References Annual Report (2011). Panera Bread Company. Retrieved from http://www.panerabread.com/pdf/ar-2011.pdf Cleverley, W., Cleverley, J. & Song, P. (2010). Essentials of Health Care Finance. UK: Jones & Bartlett Learning. David, L. (2009). Human Resource Management. South Africa: Pearson Education. Hitt, M. A., Ireland, R. D. & Hoskisson, R. E. (2012). Strategic Management: Concepts and Cases: Competitiveness and Globalization. USA: Cengage Learning.

Students who need management assignment help can touch with our 24X7live support system or can send e-mail at info@www.assignmenthelpexperts.com