digital imagery - 3 year strategic plan summary - daniel mclaughlin

8/11/2019 Digital Imagery - 3 Year Strategic Plan Summary - Daniel McLaughlin

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Digital Imagery - 3 Year Strategic Plan Summary

Contents

I. Introductiona. Vision Statement

b. Mission Statement

c. Core Values

II. Objective/Performance Target

III. Stakeholders

IV. Marketing and !change "ates

V. ntr# $evel Strateg#

VI. Multi%&eature Strateg#

VIII. Summar#

&igures'

Figure 1: Digital Imagery performance targets

Figure 2: Competitive Intelligence Report, Quarterly Snapshots

Figure 3: Design, Cost, an !or"force #enchmar" $ %ntry &evel

Figure ': Design, Cost, an !or"force #enchmar" $ (ulti)&evel

Figure *: 3 +ear perating -ro.ections /0orth merica, %urope)frica

Figure : 3 +ear perating -ro.ections /sia)-acific, &atin)merica

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I4 Introuction

Digital Imagery is a producer of top line camera and camera product with a focus oncreating product that are both value-added, designed to withstand time and theelements. Our main headquarters is located in Suffolk, irginia! however we employ our

product from our factory in "aiwan where our two ma#or product line are manufacturedand then shipped globally $%urope-&frica, &sia-'acific, (atin &merica, and )orth&merica* directly to retail shops. . In order to sustain an economical posture for thecorporation a comprehensive supply distribution chain had to be created! in order toaccomplish this intent Digital Imagery established regional offices in +ilan, Italy!Singapore! Sao 'aulo, rail! and "oronto, anada to manage our sales.

a. ision Statement

Digital Imagery - ommitted to the manufacturing and global distribution of finest

digital camera/s made, via the best technically knowledgeable employees

available. y committing valuable resources to both of our invaluablecommodities, our digital cameras and our people, Digital Imagery strive to be the

world leader in digital camera quality, at the greatest value.

01our countless memories are at the tip of your finger 2 Digital Imagery3

b. +ission Statement

Our corporation is dedicated to the manufacturing and global distribution of the

highest quality digital cameras at the lowest achievable retail price. &dditionally

Digital Imagery will strive to remain continuous of the well-being of those who are

employed and to globally distributing those delivering safe, courteous, convenientand dependable public transit services for the people of our region. 4e contribute

to the region/s economic vitality, sustainability and enhanced quality of life.

c. ore aluesDigital Imagery is rooted in the belief that it is not enough to merely produce a

product for a profit. It is our desire to make an impact beyond the world of

economics. In an effort to be thoughtful, caring and visionary in the corporate

environment we feel it is important to establish core values for the organiation. .

%5cellence2 5or most is the value of e6cellence, both in the personneland professional environment. Digital Imagery feel s that e6cellence is

achieved when there is a system put in place that specifies that all of the

organiations personnel present themselves with the utmost character and

maintain an ethical compass, for the sake of the organiation and there

physical and mental well-being.

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Community ) "he word is a group of people living in a particular local area,

but is our core values community is a sense of oneness with our

surroundings and the people involved $the organiation*, instilling

dedication and understanding. In a sense of community we have

interdependence on each other, which cannot be achieved without trust.

Respect $&t Digital Imagery we have respect one another, respect for the

organiation and our surrounding environment. "his sense of respect is

essential for the moral wellbeing of organiation and those support it, our

employees. "reating people with respect, regardless of the situation, is

critical in stabiliing the moral compass.

-ersonal Development2 &t Digital Imagery we are dedicated to the

growth of our employees, both internal and e6ternal to the organiation.

"he overall development of our employees, in that we focus the future,affords a great opportunity for both the individual as well as the

organiation.

Responsi6le Ste7arship- 7esponsible stewardship means to me we

are to be responsible and accountable. Digital Imagery treats our

employees and environment with respect and reverence, and takes our

stewardship for both to heart.

Integrity )&n honest, reliable, and trustworthy organiation is paramount.

Integrity in the corporate world is largely ine6pensive when you have it, butif it is lost the cost to obtain it again could be insurmountable, requiring a

substantial amount of capital to do so. Integrity is woven throughout Digital

Imagery, from the staffing of our valuable work force to the distribution of

our fine products.

II4 6.ectives8-erformance 9arget

Digital Imagery has work hard on being an honest broker, a responsible employer and

environmentally conscious company and we are focused of building a solid foundationthat sustains our company/s dedication to8 9* a quality camera product, and! :* our

employees that build that product. I order to accomplish the manufacturing some of the

best available camera products our emphasis has been of incorporating top of the line

digital components, enhancing the functionality of our cameras to make them both user

friendly but also durable and long lasting. It is our belief that it/s vital that we invent in the

people, the most important aspects of our manufacturing system.

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y putting in place a top notice compensations and benefits packages we hope to

develop a dedicated, sustainable workforce, limiting employee turnover and retaining a

specialied knowledge base. 4e believe that by committing valuable monetary

resources toward, top of the line camera component and the best possible employee

working conditions and compensation;benefits packages will impact our bottom line in

the short term $9-: yrs.*, but that all stakeholders will see substantial returns in the long

term $:-< yrs.*.

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Figure 1: Digital Imagery performance targets for the proceeing 3 years

III4 Sta"eholers

& successful endeavor requires the support of those who are stakeholders in those

endeavors. )owhere is this more the case then it is with a business entity. It is through

the support and hard work of those that are Digital Imagery stakeholder that we will

continue to be successful.

It has always been Digital Imagery/s goal to ensure that a respectable amount of the

company/s profits were to be used to provide a respectable compensation for our hard

working employees. It is our feeling that this would instill a sense of ownership and

personnel pride in the products being developed. "his sense of pride would bleed over

in the market place and then into the net profit margin for the company. Digital

Imagery/s/ employee throughout the past < year have been rewarded with the higher

compensation packages then our competitors. It is through these compensation

packages that these valuable stakeholders in the company receive the #ust deserts of

their labors and dedicated efforts.

&nother critical stakeholder for Digital Imagery is the customer. "he amount of

attention that is paid to the development and production of our camera/s is with one

thought in mind, the best possible product with the best possible image quality available.

It is these things that will provide one of our most important stakeholders, the customer,

the ability to capture that 0greatest moment3. It will always be our goal to product the

most reliable, highest quality cameras, providing the customer with a simple to operated

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camera, dealing with the least amount of down time. "his customer focus is what drives

many of our production decisions. It is through our oard of Director and investors that this company is able to provide a

safe and amenable work environment and make notable environmental donation that

had a significant impact on the local "aiwan populous.

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Figure 2: Competitive Intelligence Report, Quarterly Snapshots

"hough our factory and outsourced production partners we have been able to produce

the numbers required to meet our market demand e6patiations for our cameras, both

%ntry-(evel and +ulti-(evel. "hat being said it is now apparent that our advertisingbudget for each of the G regions was defiantly wanting in comparison to our competition.

"his miss-calculations made in the marketing of both camera types compressed our

ability to increase our market shares, thereby reducing potential revenue. "hese number

are represented by the follow and can be seen in 5igures H: above.

&sia - 'acific +arket8 -G9B

%urope 2 &frica8 -?:B

(atin &merica8 -@?B

)orth &merica8 -


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than average* to support such a saturation and allow for an opportunity to increase

sales. If 0Strategic 'lanning3 was to be successful then the below stated market shares

would have been higher.

I.9A per unit.

It wasn/t until our company had the opportunity to analyed our competitors data the

we realied that cost and sales price were substantially highest. "hroughout the ne6t

three year attempts were made to reduce the cost associated with production of the

entry level cameras. It is apparent now that as well as reducing our production costs that

a reduction is the numbers produced would have been advisable 5igure @8 Design, ost,

and 4orkforce enchmark. Digital Imagery however reduced, production cost, salesprice and increased production, not an entirely successful formula.


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Figure 3: Design, Cost, an !or"force #enchmar" $ %ntry &evel


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production cost on core components, brands-specific components and special utility, out

spending our entire competitors in each of these areas $See 5igure *.

&s with the entry-level camera our going in position for our multilevel camera was to

spend in the front end and while reaping the rewards when we sold our 0superior3

camera for a higher price $average cost of =GA@.@@*. "he cost of production pre camerawas higher than our competitor, averaging a production cost of =@@>.>C per unit.

&s the years progresses it became appear to us that our +ulti-(evel cameras were

going to become the financial foundation of our company. "he decision was made to

retain the quality level of the produced and give the customer the benefit of a high end

product, mush better than our competitors, but at reasonable prices, while continuing to

saturate the market place with our cameras allowing the best availability and visibility. I

would have been able to recover the high price point, but was unable to convince myself

to move off of the other cost related to production. +y inability to reduce assembly cost,

all on the higher end of the cost spectrum, if not the highest cost. 5igure G8 Design,ost, and 4orkforce enchmark 2 +ulti-(evel, provided below shows how in the areas

of core components, brands-specific components and special utility features Digital

Imagery over spent. &lso as your can see in 5igure G8 Design, ost, and 4orkforce

enchmark 2 +ulti-(evel, our (abor cost, per unit, were e6cessive. "his, as I e6plained

earlier, was intentional.

Figure ': Design, Cost, an !or"force #enchmar" $ (ulti)&evel

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"he physical and mental well-being of Digital Imagery/s employee/s is as important to

the company as the quality of the camera is. &nd it is our belief that one will enhance the

other. Eowever the wiliness to place an emphasis on quality and people had an impact

on our production cost and ensured that Digital Imagery would not be as competitive, as

demonstrated by our low operating profit ratio $9A.:B*. "he high production cost

required that our net revenue be at level much higher than achieved.


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Figure *: 3 +ear perating -ro.ections /0orth merica, %urope)frica

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Figure : 3 +ear perating -ro.ections /sia)-acific, &atin)merica

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digital imagery - 3 year strategic plan summary - daniel mclaughlin

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