BUSINESS STRATEGY : Developing Strategic Business Plan Volkswagen AG
Added on 2020-06-06
14 Pages4564 Words88 Views
BUSINESS STRATEGY
Table of ContentIntroduction......................................................................................................................................3Task 1...............................................................................................................................................3Business Missions, Visions, Objectives and Goals.........................................................................3Analyze the Factors while Formulating Strategic Plan...................................................................4Techniques used while Developing Strategic Business Plans.........................................................5Task 2...............................................................................................................................................6Strategic Positioning of VW AG and creating an Organizational Audit.........................................6Environment audit for VW AG.......................................................................................................7Stakeholder Analysis when Formulating New Strategy for VW AG..............................................7Present a New Strategy for VW AG................................................................................................8Alternative Strategies related to Market Entry, Substantive Growth of VW AG...........................9Selection of a Strategy for VW AG.................................................................................................9The Roles and Responsibilities of Personnel at VW AG..............................................................10Resource Required for Implementing a New Strategy for VW AG..............................................11SMART targets of VW AG...........................................................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................13Page 2 of 14
Introduction The aim of this assignment is to produce a strategic plan which can be helpful for anorganization. In this assignment as business plan has to be made and that pan has to be producedto different companies like Dragons Den and BBC. It is important to pitch for investment to theden from the Dragon and other five capitalist are willing to their capital in exchange of equity.The regent college academic staff has offered a opportunity to pitch before the staffs and therethe business plan has to be presented before it is being pitch to den from the Dragon. Thisassignment thus will help to gain a clear knowledge about business strategy and how canstrategic planning help in reaching the business missions and visions. The factors consideredwhile creating a strategic plan will be described as well as the effectiveness techniques usedwhile making business strategic plans. In the second part of the assignment the process ofstrategic planning and the key elements of strategic position and choices will be applied toVolkswagen and all the strategic tools will be implemented. The assignment explains howeffectiveness of the tools and how brands and the presence of VW AG can remain in theinternational market.Task 1Business Missions, Visions, Objectives and Goals Business plan can be described as the plans that a company makes and a clear mental image ofsomething which the person wants from its business. It is important to have plans because thiswill help the person to see where his/her business will go in the future. There can be differenttypes of plans in different people's mind. There should be a clear vision of the business whichwill help the person to grow and develop the business he/she is into. The need for having a clearvision is important as it can help the person to go in the right way rather putting someone in thewrong line. This will also help the person to have a clear focus which will in return help theperson to achieve the goals (Scholes, 2015). It can be said that clear vision is important for agood future. Business missions have to be achieved by any person to make a profit out of thebusiness. It has been seen that every person has their goals and all try to achieve them. There arealso people who fail to achieve their goals. There is a big reason behind the failure and that canbe the absence of a strategic plan and clear vision of the organizations. Every year there arePage 3 of 14
hundreds of people who come in the field of business and very less succeeds and others fails.This happens because of the absence of strategic plans, goals and objectives. The objectives of aorganization has to be very clear otherwise the organization will never be able to understandwhat should be done. Every organization sets different goals and some goals are even same. Themost common goal of any organization can be making profits. Business objectives can bedefined as the steps which have to be taken in order to achieve organization goals. It might behard to achieve goals but with the help of good vision and the hunger for achieving success canhelp any organization to succeed. Invitation is an important factor during the path of achievingsuccess in any business (Bharadwaj, et al, 2013). In this whole cycle to achieving success, clearvision and organizational objectives, financial support can be marked as an important factorwithout which any of these plans will not succeed. This is the reason why all of these points haveto be kept in mind while setting business objectives. Thus business missions, vision andobjectives are important to help achieving business goals in any organization.Analyze the Factors while Formulating Strategic Plan There are several factors that a company should keep in notice before initiating any strategicplan. Some of the factors are:●Strategic plan timeframe: while initiating any strategic plan the time frame for that planshould be covered. Making a time frame brings a sense of urgency to the objectives to theplan that requires focus and implementation approach.●Selection of the committee: selection of a task force or strategic planning committee isvery important for an organization before implementing any strategic plan. The memberof this committee were been selected on behalf of their ability to think strategically, theirwillingness to form a consensus plan and proactive approach to the strategic plan.●Develop the strategic plan: the whole process of initiating and implementing a strategicplan needs time and resources of the organization (Leonidou, et al, 2015). So beforeinitiating a strategic plan the plan needs to be discussed among the committee and shouldbe approved by the selected body.●Board approval: the board should approve the plan and should formally task theplanning committee with all requirements. After the approval the board will step backand let the selected body to initiate the task which in result builds a confidence in thePage 4 of 14
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