Company Plan

COMPANY PLAN

2006

Company Plan

I . Introduction

The word `strategy ' is used at many occasions from basketball match ups in NBA , military counterattack by Lebanese at Middle East , to contests like Miss Universe a few months ago . All need suitable strategy to win a battle ' for each occasion

In Strategy : Definitions and Meaning , Fred Nickols state , the concept of strategy is borrowed from the military and is adapted for use in business ' Therefore , in business situation , as in the military strategy aims at bridging the gap between policy and

tactics

Based on the above elaboration , strategy is considered as the bridge between policy or high- goals on the one hand and tactics or concrete actions on the other . In short , strategy is a term that refers ideas , insights , experiences , goals , expertise , memories , perceptions and expectations that provides general guidance for specific actions in to achieve specific results

In compliance with the meaning of strategy , this , will discuss the key success factors (KSFs ) for a company named Vitaquest International that becomes the world 's leading Custom Manufacturer of Nutritional Products

Concerning the discussion of Vitaquest International , we will explain the background of the company , key success factors in nutrition industry , the key success factors that the company has achieved so far the company 's core competencies , and the analysis of the company core competencies in to ensure sustainable growth for future business of Vitaquest International

II . Key Success Factors of Vitaquest International

II .1 Key Success Factors of Health and Nutrition Business

The idea of key success factors base on the facts that in particular industry , the existence of resources , processes , capabilities play major roles in determining the success of a company 's business . Once the companies has identified their critical factors , the managements are required to focus on the success factors in to gain competitive advantage while stand out the competition growth . According to Socratic sense , key success factors are those that answer following questions

What factors that a leading company must sustain to continue to lead

What factors a new company must develop to thrive in its market

Concerning the nutrition business , prior to identification of success factors in the industry , we should comprehend the nature of business in the industry first . The nutrition business is one fast-growing industry as they experience skyrocketing sales . In 1992 , Natural food sales in the U .S . accounted for 5 .29 billion and grew by 10 percent a year

The situation suggests that companies such as BASF and Vitaquest International should develop their competitive advantage to win the competition . In addition , Wennstrtzm (2000 ) says that there are four key success factors in nutritional foods as following : need the product accept the ingredient , understanding the benefit , and trust the brand

II .2 Key Success Factors of Vitaquest International

Based on the four key success factors as described by Wennstrtzm (2000 we can derive the four key success factors for Vitaquest International as following

II .2 .1 Need the Product

This...