Our Mission at Strictly Solar
At Strictly Solar, our mission is to enhance our eco-friendly customers’ lives by providing innovative products that harness the availability of solar energy and guide us toward a sustainable future. This mission statement is a great fit for our company because it clearly demonstrates our values of improving sustainability and developing innovative products to create a better world. This statement is also broad enough to allow us to create more product offerings in the future that will align with our mission, but it is narrow enough explain the value our company creates with our solar fabric.
Our Corporate Objectives at Strictly Solar
In order for our goals to be most effective, we need to implement SMART goals (James et al., 2018). Our corporate objectives for the first 12 months of operation are to launch our first product within our $1,000,000 budget and to generate enough profit to cover the initial development costs plus earn a 10% return on our investment. We also have a long-term objective of maintaining a 10% return on investment year over year.
These goals are SMART because they are specific in that they explicitly state the desired end results. They are measurable because the results can be quantified and we can easily determine whether we did or did not meet our goal. These goals are achievable and realistic because the desired results are within the company’s ability to attain. The goals are also time-bound because the deadline to reach these goals is by the end of the initial 12-month period of operations.
Internal Analysis of Strictly Solar
Our organization is in its startup phase, and we do not have historical performance measures available to evaluate in our strategic planning process. We will need to analyze our marketing objectives in the startup phase of our company. We currently have a single business unit and our corporate objectives are centered around successfully launching our initial product into the market. While we do have an innovative, patent-protected technology, our product will have many competitors in the form of existing products in the market. We will have to be able to successfully persuade customers to select our product over our competitors’ and/or be able to draw in new customers who were not previously considering products like ours.
Our organization has many resources available to achieve success. Our first resource is our solar fabric itself. Our solar fabric is a highly innovative, patent-protected product that was developed by a former NASA engineer. However, there is potential for competitors to develop similar technology to our solar fabric that could take away from the novelty of our product offering.
Another resource that will contribute to our success is the leader of our company, Mr. Robert Jones, who is a visionary with a strong history of successfully managing and motivating teams that he has led. His ability to envision new products will position our company as a leader in innovation. Mr. Jones’ management will enable us to succeed through his strong leadership and motivational skills. While Mr. Jones is a visionary and strong motivator, he does not have strong business acumen and he will need a strong leadership team to support him in areas where he is weak. We will need strong leaders in our business, strategic planning, and marketing areas of the company. Mr. Jones also has a large network of retired individuals from the government, military, and NASA who would be strong leaders in the areas of managing our business and operations. Mr. Jones is driven by his desire to make the world a better place, and his strong principles and values will lead to a strong culture that precipitates down the organization. We may face some cultural issues whenever Mr. Jones retires and a successor who takes his place will need to be carefully selected to maintain our culture of the company
Our supply chain is another resource available to us. We also have established a manufacturer in the US who will provide many services free of additional charge. All of our materials are produced in the US and will be of high quality. Our network of suppliers are also trustworthy and highly rated by industry organizations.
In addition to all of these resources available, we also have $1,000,000 of funding to startup the first year of operations and launch our product. However, if these funds are not allocated wisely then this could lead to the failure of our company.
Strictly Solar’s Strengths and Weaknesses
As part of our SWOT analysis, we have identified some of the strengths and weaknesses of our organization. Our strengths are comprised of many of the things mentioned above. The fact that our product was developed by a former NASA engineer will have the strength of the NASA brand behind it. NASA has a reputation for only having the best and brightest employees, so a new product developed by a former NASA engineer will have more credibility than it would otherwise have.
Another strength of ours is our patent-protected technology. This product offering would have technology that is the first of its kind available to the public, and the patent will help protect our product from being duplicated for several years. Many consumers are drawn to innovative products, and this will help position our product among competitors. Also, our materials and product are all made and manufactured in the US. Along with knowing the products will be well made, many consumers prefer to purchase products that are made in the USA. Our suppliers are reputable and trustworthy and are all highly rated by industrial organizations.
We have the strength of our leader who has a strong background in leadership and management. He is able to motivate his employees towards attaining the company’s vision. His connections from the government, military, and NASA will enable us to fill leadership positions within the company with top talent who are knowledgeable and have a history of strong leadership to enable the company succeed.
Our primary weakness is that as a startup we have an unknown brand. We will also have to create a space for us in the market and fight for market share. We will be unfamiliar to consumers, and we will have to find ways to advertise and distribute our product so that customers notice us and our brand.
We also have a limited budget that we will need to work within to ensure the successful launch of product and ultimately the success of our company.
Capabilities of Strictly Solar
Our company being led by a visionary leader means we will have the capability of innovation. We will be able to conceive of new products that will add value and improve our customers’ lives and the world. Our ability to become a leader in innovation means. if successful, we will be able to continuously add value and grow as a company. We can create new products and if the market changes we can rely on innovation to change the direction of our company as necessary to adapt to changing market conditions.
Our vast network of military, government, and NASA contacts means that we will also be capable of recruiting the best and the brightest to our organization. We will also have access to key people to be able to further grow the organization. If we need to generate new patents or affect regulation, then we have the contacts to do so. Also, if we need expertise in certain technical areas we also have the network of highly skilled expertise that is needed.
Applicability of Our Technology
In addition to the product that we are rolling out in our startup, there are many other industries that could find value in our solar fabric. One of these industries is the auto industry. Currently, many automobiles include seat-warming technology, but this could be replaced with our solar fabric and remove the current technology used to generate heat in the seats.
Another industry would be the clothing industry. Many clothing companies that produce outdoor clothing geared towards cold-weather could find this technology useful to replace the current materials from which cold-weather clothing is currently made. Not only would the clothing protect you from cold, but it would go beyond that to make a consumer warmer in the cold weather.
Also, a product could be created for outdoor tents. Campers could find the solar fabric useful for maintaining warm tent at night or when camping in chilly weather. It would also open the market to new customers who may not have been interested in tent camping because they would not find it comfortable
Ultimately, our company decided on using solar fabric in the flooring industry. We will bring in customers who would be interested in heated carpeting or rugs. Hard floors can often get cold, and a heated rug or carpeted room would be a nice addition to create a cozy vibe. We think we could create a market for customers who would be interested in the heated flooring.