Strategic and Financial Planning

1029 Words3 Pages
bulb-icon

Recommended: The importance of having a strategic plan as an organization

Strategic and Financial Planning
“Plans are worthless, but planning is everything” (Eisenhower, 1957). Businesses that fail to plan are very likely to fail and at best will not recognize the full spectrum of profit avenues available to them. Strategic planning helps firms to define how they will make money in the future. Financial planning goes further into depth using the strategic plan as a baseline and helps firms determine their short-term and long-term budgets as well as the possible effectiveness of their plans. The innovative nature of business requires firms to plan out new initiatives to determine costs they will incur, possible profits from sales, and what kind of risk they will encounter.
Strategic Planning Initiative – Barnes and Noble and the NOOK
Over time technical innovations have changed the way of life for millions. These breakthroughs continue to surface and understanding these technologies and how to properly utilize them is essential in the business world. Barnes and Noble is a business that has embraced these changing times and is proving their ability to keep up. The NOOK is a digital reading device and with access to the Internet it essentially has an almost endless list of all forms of literature. With the release of the NOOK, this single product has allowed Barnes and Noble to take a strong hold in the digital text market. In Barnes and Noble’s annual report it discusses how they will continue to utilize the NOOK and that it has recently become a product that can generate very profitable revenue (Barnes and Noble, 2013). The NOOK is a product that could potentially be viewed as the downfall to bookstores, however Barnes and Noble has discovered how to take a place in the digital market while maintainin...

... middle of paper ...

...s/annual_reports.html
Barnes&Noble. (2012). Our Company. Retrieved December 9, 2013, from Barnes&Noble: http://www.barnesandnobleinc.com/our_company/our_company.html
De La Merced, M. J. (2013, June 25). Losing Ground on Nook, Barnes & Noble Ceases Its Own Manufacture of Color Versions. (N. Y. Times, Producer) Retrieved December 9, 2013, from DealBook: http://dealbook.nytimes.com/2013/06/25/losing-ground-on-nook-barnes-noble-ceases-its-manufacture-of-color-versions/?_r=1
Eisenhower, D. D. (1957). Public Papers of the Presidents of the United States, Dwight D. Eisenhower, 1957. Government Printing Office. Retrieved December 9, 2013, from http://books.google.com/books/about/Public_Papers_of_the_Presidents_of_the_U.html?id=XkrOHaeghuYC
Titman, S., Keown, A. J., & Martin, J. D. (2011). Financial Management Principles and Applications (11th ed.). Boston, MA: Prentice Hall.

Show More
Related

  • Home Depot & Capital Structure

    987 Words  | 2 Pages

    Berk, J., & DeMarzo, P. (2011). Corporate finance: The core, second edition. (2nd ed.). Boston, MA: Prentice Hall.

    Read More

  • Annotated Bibliography

    2265 Words  | 5 Pages

    This source considers the issue of converting to digital books, specifically as it pertains to the effect that this change would have on the global environment. Although the research does recognize that there are disadvantages to not having a physical copy of a book and to abandoning certain platforms that do not transfer well to a digital form, overall, these researchers conclude that publishers should move towards digital products not only for the sake of cheaper long-run costs, but also for the good that going paperless can do for the environment. By displaying a series of graphs, as well as including multiple data sets, the text explains how e-books compare with printed texts; then, analysis of these facts is also included to show the reader the authors’ point.

    Read More

  • Amazons Fulfilment

    2973 Words  | 6 Pages

    Streitfeld, D. (2013, October 22). Monstrous sales and roaring stock, but no profit amazon’s dilemma: Company’s stock at a record high, but no significant profit made. The Tech Online Edition, 133(47), 1. Retrieved from http://tech.mit.edu/V133/N47/wire1.html

    Read More

  • Media Influences On American Culture

    670 Words  | 2 Pages

    With the advances in technologies there has been many bookstore close because we are able to download books and read them in our hand held devices. It is sad to see so many businesses close due to the advances in technologies. What I do like about being able to download books is that we no longer have to find somewhere to store the books because we can save them in our devices. Since we are also able to view movies on our electronic

    Read More

  • Amazon Continues to Grow Through Mergers and Acquisition

    823 Words  | 2 Pages

    Another acquisition would occur in March of 2013 when Amazon would announce its intentions to purchase the book social networking website Goodreads.com. While the amount Amazon paid for the deal was not disclosed it adds a new layer to Amazon’s e-book services. The Goodreads website allows its 16 million members to review and catalogue books and creates a social environment in which book lovers can interact. Like many of the other social networking sites users can create friends lis...

    Read More

  • Leadership in the Organization: Jeff Bezos and Amazon

    1697 Words  | 4 Pages

    Jeff Bezo’s began Amazon in his garage in July 1995 with three Sun workstations setting on wooden doors for tables and extension cords running from everywhere (Academy of Achievement, 2010). Right from the beginning he was a visionary leaving his well paying job as a senior vice president with D. E. Shaw to begin Amazon.com (Academy of Achievement, 2010). Being the visionary that he is he saw an opportunity prompted by the huge growth rate of internet use in a single year and ran with it never looking back. Jeff realized that the internet had “no real commerce to speak of” so he began researching possible businesses (Academy of Achievement, 2010). “After reviewing 20 mail order businesses and deciding which could be conducted more efficiently over the internet than by traditional means he decided on books” (Academy of Achievement, 2010). He thought books were perfect because attempting to send huge catalogs for all the available books would be expensive and cumbersome, but an online resource database that was easy to navigate would provide customers with easy access and a single point from which to shop. “In 30 days, with no press, Amazon had sold books in all 50 states and 45 foreign countries, obviously by the success of Amazon he was right (Academy of Achievement, 2010). In a case study written by Javad Kargar called “Amazon.com in 2003” he stated that “Amazon's online store was a big hit, with about $5 million in the first year of operations” (2004). This huge success so quickly would have confirmed for Jeff that his idea was viable and drove him to continue to strive for more. Jeff Bezo’s charismatic-visionary leadership is the key to his and Amazon’s success.

    Read More

  • Apple Inc. Financial Analysis Case Study

    3622 Words  | 8 Pages

    Financial Future: Where Will it be in 10 Years? Retrieved on November 20, 2013 from

    Read More

  • CVF Analysis: Amazon, Inc.

    3010 Words  | 7 Pages

    Treanor, T. (2010). Amazon: Love them? hate them? let's follow the money. Publishing Research Quarterly, 26(2), 119-128. doi:http://dx.doi.org/10.1007/s12109-010-9162-7

    Read More

  • Barnes And Nobles Research Paper

    678 Words  | 2 Pages

    Books are great thing don’t you think? Barnes & Nobles is the number one bookstore in the entire country. It started in 1886. Barnes & Nobles is all over the world. It has supported many events. They have become the number one bookstore in the United States. They sell a variety of books and other products. They have grown a lot over the past 132 years. They have a long history of excellence by serving millions of customers with its wide selection of books.

    Read More

  • Are Theories of Dividend Payment Applicable in the Real World

    1490 Words  | 3 Pages

    Ross, S.A., Westerfield, R.W., Jaffe, J. and Jordan, B.D., 2008. Modern Financial Management: International Student Edition. 8th Edition. New York: McGraw-Hill Companies.

    Read More

  • Innovation Process of Amazon Kindle

    1559 Words  | 4 Pages

    ...cessfully established its position as market leader. This should be maintained with continuous and substantial improvement. Currently Kindle 3 operates in grayscale mode and it is potential for the company to develop the color version in the future.

    Read More

  • Should Companies Embrace Social Business

    1447 Words  | 3 Pages

    There are many things that B&N and its book publishers can do to stimulate more business. The best strategy in my opinion would be to make more deals with large companies like Apple and Samsung. These companies are at the height of every competitive market in electronics, from cell-phones to televisions, and hold some of the most loyal customers in the market (Surowiecki, 2013). If B&N wants the Nook to stay in the competition, they have to market their product to be appealing in today’s society. To do this they have to factor in competitive prices, capabilities, and other features that can compete with top sellers. Joining up with larger companies will not only increase exposure, but also put B&N and book publishers on the same platforms as their competitors.

    Read More

  • Exhange Risk Faced by Multinational Corporations (MNCs)

    1553 Words  | 4 Pages

    Ritter, Lawrence R., Silber, William L., Udell, Gregory F. 2000, Money, banking, and Financial Markets, 10th edn, USA.

    Read More

  • Importance Of Strategic Planning

    1193 Words  | 3 Pages

    Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.

    Read More

  • Will Digital Books Replace Print Books?

    969 Words  | 2 Pages

    ...y discardable, but has an advantage of changing font size and page brightness. With this exception, print books are going to survive. To quote British actor and writer Stephen Fry, "Kindles are no more likely to replace books than escalators are going to replace stairs“ (9). Works cited: Fry, Stephen. The Fry Chronicles: An Autobiography. New York: Overlook Press, 2012. Print. Polanka, Sue, ed. No Shelf Required 2: Use and Management of Electronic Books. Chicago: American Library Association, 2012 Pratchett, Terry and Stephen Baxter. The Long War. London: Haper Voyager, 2013. Print.

    Read More

More about Strategic and Financial Planning

Open Document