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Business Strategy Assignment | Volkswagen

   

Added on  2020-01-07

15 Pages4387 Words149 Views
BUSINESS STRATEGYStudent’s Name:Student’s ID:Professor’s name:Table of Conten1
Business Strategy Assignment | Volkswagen_1
Introduction......................................................................................................................................3Company overview of Volkswagen (VW)......................................................................................4Task 1...............................................................................................................................................4LO1 Strategic planning process.......................................................................................................4AC 1.1 Assessment of way in which business visions, missions, goals and objectives help ininforming the strategic planning while formulating the strategic plans..........................................4AC 1.2 Analysing the factors to be considered in forming strategic plans.....................................5AC 1.3 Evaluating effectiveness of the techniques that are used to develop plans for strategicbusiness............................................................................................................................................6Task 2...............................................................................................................................................8LO2 Formulation of new strategy of VW AG.................................................................................8AC 2.1 Analysing strategic positioning of the VW AG through organisational audit....................8AC 2.2 Carrying out environmental audit for the VW AG.............................................................8AC 2.3 Assessing significance of the stakeholder analysis while formulating new strategies forthe VW AG......................................................................................................................................9AC 2.4 Presenting new strategy for VW AG..................................................................................9LO3 Approaches to the strategic evaluation..................................................................................11AC 3.1 Analysing appropriateness of the alternative strategies related to the market entry, limitedgrowth, substantive growth or retrenchment of the VW AG.........................................................11AC 3.2 Justification of the selection of strategies.........................................................................12LO4 Implementation of chosen strategy........................................................................................12AC 4.1 Assessment of responsibilities and roles of the personnel charged with implementation ofthe strategies..................................................................................................................................12AC 4.2 Analysing estimated requirements of resources for implementation of new strategies forVW AG..........................................................................................................................................12AC 4.3 Evaluation of the contribution of SMART objectives towards achieving strategyimplementation within VW AG.....................................................................................................13Conclusion.....................................................................................................................................13Reference List................................................................................................................................142
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IntroductionBusiness strategy is the process or procedure adopted by organisations for setting desiredobjectives and tries to achieve it. It could also be described as long-term business plan. Abusiness strategy would cover a period of about few years. Business strategies also focus onissues related to the resource. In this study, the researcher would assess the ways in whichmission, vision, goals, objectives and core competencies of business inform about strategicplanning while formulating the strategic plans. The researcher would also analyse the factors tobe considered while formulating the strategic plan. Evaluation of the effectiveness of thetechniques that are used in developing strategic plans for business would be done in this study.An analysis would be done on the strategic positioning of the VW AG through an organisationalaudit. An environmental audit would also be done on VW AG in this study. The researcherwould assess the significance of the stakeholder analysis while formulating new strategies forVW AG. A new strategy would be presented for the VW AG. An analysis of the appropriatenessof alternate strategies related to substantive growth, retrenchment, limited growth or market entryfor VW AG would be done in this study. The researcher would also provide a justification for thestrategy selection. The role, as well as responsibilities of the personnel who are responsible forthe implementation of strategies, would be assessed in this study. An analysis would be done onthe resource requirements while implementing a new strategy in this study. At the end of thestudy, an evaluation of the contribution of the SMART targets in achieving strategyimplementation would be done.Company overview of Volkswagen (VW)Volkswagen is one of the best public sector automobile manufacturing organisations. Theorganisation serves to cater the requirements and necessities of the million car lovers across theworld. The organisation has been founded in 1937 by German labour front and is headquarteredin Berlin, which is said to be the heart of Germany. VW produces more than 6 million cars everyyear on an average and based on the business policies as well as programs. The organisationconsists of more than 6 million employees in various locations of VW and earns revenue incomeof approximately $105 billion and an annual profit of about $1.8 billion (Volkswagen.co.uk.2017). 3
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Figure 1: Volkswagen LOGO(Source: Volkswagen.co.uk. 2017)Task 1LO1 Strategic planning processAC 1.1 Assessment of way in which business visions, missions, goals andobjectives help in informing the strategic planning while formulating thestrategic plansVision:The vision of VW for formulating strategies is focused mainly on the ideal condition for carryingout a business after considering certain issues as well as concepts of business. The visionstatement of an organisation needs to be broad and allows to focus on objectives set forperforming the business activities for generating inspiration for the advancement of the businessconditions and as a result advancement of business procedures as well as perspectives.Mission:The mission statement of the organisation gives the overall purpose of the business activitiesthrough which an organisation tends to serves as well as provides the requirements ofshareholders and stakeholders. As stated by Ahearneet al. (2014, p.80), the mission statementdescribes the current capabilities of the organisation and the areas through which the4
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