Midway USA, a shooting supplies company based on the Internet, was founded by Larry Potterfield in 1977. The company’s headquarters is located in Columbus, MO. Midway USA features over 100,000 items from over 800 suppliers. They also offer products in over 17 categories. Midway USA is known for their fast shipping times and excellent customer service. The retailer is well known in the shooting industry. Midway USA, for its outstanding execution of their strategic plans, was awarded the Baldrige award in 2009 as well as 2015. Midway’s goal is to receive this award every six years. (Baldrige, 2015)
Midway USA adopted Baldrige to be their framework for management and leadership. They have found it helpful in all aspects. Strategic planning is one of them. Their growing success is due to strategic planning. Midway USA’s fully integrated seven-step process for developing a strategy is the key to their success, high performance and sustainability. The first step is to review performance and analyze strengths, weaknesses, threats, and opportunities. Midway USA’s success is defined by its strategic goals, which are based on the results. Baldrige (2015) states that Midway USA also finds success in providing high-quality customer service. Midway USA’s staff is able to provide a high-level of customer service because they are knowledgeable about the products that they sell. Midway’s staff is considered to be experts in their products. This is a demonstration of knowledge view-based strategy theory. This application extends Resource Based View with Knowledge View. Knowledge is the most important resource in the company. Knowledge is complex, hard to duplicate and even harder to understand. This theory states that knowledge is the foundation of competitive advantage. (Santos & Eisenhardt , 2000)
Midway USA is currently gaining a competitive edge through service differentiation, and by offering better pricing. Midway USA also sets high expectations in terms of service. Recent research has shown that not all customers want service. They want the lowest price. Midway USA has been working on a new competitive action plan that will address pricing more specifically. To ensure they offer the lowest priced delivered service, Midway USA contracts with UPS. UPS delivers now 85% Midway USA’s shipments. The customer will benefit from the cost savings. Midway USA’s shipping negotiations are a great example of how it goes above and beyond for its clients.
Midway USA has a strong competitive advantage because of its management strategy hierarchy. They communicate effectively with their company, their customers, suppliers and shareholders. Midway USA’s senior leaders work hard to ensure that information about the company’s mission, values, and vision is effectively communicated through various outlets. MS documents have been posted all over their facilities to keep employees constantly aware of the values, mission and vision of Midway USA. It gives them an advantage in the market because employees are aware of the mission, values, and vision of the company. The employees will always be shown them. Midway USA’s employees are also made aware of their goals and objective. The employees must know what the company’s objectives and goals are, otherwise they cannot help it succeed. (Fuller & Green, 2017)
Midway USA appears to be thinking strategically about the future. They do R&D to better perform in the marketplace and serve their clients. Midway USA’s strategic moves include forming a contract with UPS to ship their products and deploying customer satisfaction surveys that are conducted even if a customer does not purchase anything. Midway USA’s strategic advantage will come from both of these examples. Midway USA also encourages employees to submit their innovative ideas to improve the company through State of the Business meeting, Baldrige Departmental Meetings, Employee Roundtables, One-Page Summaries of Improvements to the Vice President. Baldrige (2015). This could benefit the business in multiple ways. The floor staff often sees things the office staff does not.
Midway USA’s main goals are four. These are the following goals: satisfaction with customers, satisfaction of employees, satisfaction with suppliers and partners, and satisfaction for shareholders. Midway USA strives to satisfy. Midway USA wants to ensure that everyone involved, from shareholders to customers, is always satisfied. To achieve their goals, they will provide competitive pricing for products, a competitive salary, product support, and grow the company’s value through customer acquisition. (Baldrige, 2015)
Midway USA has a vision to be America’s most successful and respected business, serving our customers. It is an appropriate vision statement for Midway USA. It is in line with their strategic goals. This is just one more example of their respect for customers. (Baldrige, 2015)
It states that we are a leading online retailer of hunting, shooting and outdoor gear. We value our employees, who must share the same values as us and be aligned with our company culture. Similarly, the mission and vision statements are in sync with the organization’s strategic plan. (Baldrige, 2015)
Midway USA is a company that believes its mission is to serve as a model for America. They also want to maximize their long-term shareholder value by meeting and exceeding their long-term and operational goals. This goal is right on target. The strategic plan of the company is in alignment with this goal. (Baldrige, 2015)
As well as being the core values, a company’s philosophy can be viewed. These family principles that are non-negotiable guide Midway USA’s philosophy. These include honesty, loyalty, integrity and teamwork. (Baldrige, 2015)
There are several differences between policies and strategies. Policies are used for regulating day-to-day decisions, while strategies are used to achieve operational goals. To be successful, all businesses require both strategies and policies. In order to execute a successful strategic plan, it is essential that all rules or policies are followed. It is because they form a large part of the framework for a business that policies and strategies are symbolic. Policies are created to support company strategies. It isn’t their only responsibility, but a major one. (S, 2018)
Midway USA has been a leader in the online retail market for many years. They are very concerned about keeping their customers, employees, partners, suppliers and shareholders happy. They are working towards achieving high-level strategic goals. Sent by my iPhone
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