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Strategic Planning & formulation of new strategy | assignment

   

Added on  2020-04-07

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Assignment front sheetQualificationUnit number and titlePearson BTEC Level 5 HND Diploma in BusinessUnit 07: Business strategyStudent nameAssessor nameMs. Maria SumbulDate issuedCompletion dateSubmitted on26th March 201726th April 2017Assignment TypeSummative AssignmentAssignment titleStrategic Planning & formulation of new strategyLearning OutcomesACIn this assessment you will have the opportunity to present evidence that shows you are able to:Task NoEvidence(Page No)LO1Understand the process of strategicPlanning1.1Assess how business missions, visions,objectives, goals and core competenciesinform strategic planning1.2Analyze the factors that have to be considered when formulating strategic plans11.3Evaluate the effectiveness of techniques used when developing strategic business plansLO2Be able to formulate anew strategy2.1Analyze the strategic positioning of a givenorganisation by carrying out an organizational audit22.2Carry out an environmental audit for a given organisation2.3Assess the significance of stakeholder analysis when formulating new strategy2.4Present a new strategy for a given organisationLO3Understand approachesto strategy evaluation3.1Analyze the possible alternativestrategies relating to market entry,substantive growth, limited growth orretrenchment for a given organisation33.2Justify the selection of a strategyLO4Understand how toimplement a chosenstrategy4.1Access the role and responsibilities of personnel who are charged with strategy implementation44.2Analyze the estimated resource requirements for implementing a new strategy for a given organisation4.3Evaluate the contribution of SMART targets to the achievement of strategy implementation in a givenorganisation.
Strategic Planning & formulation of new strategy | assignment_1
Learner declarationI certify that the work submitted for this assignment is my own and research sources are fully acknowledged.Student signature: Date:
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Assignment briefUnit number and titleUnit 07: Business StrategyQualificationPearson BTEC Level 5 HND Diploma in BusinessStart date26th March 2017Deadline/hand in date26th April 2017AssessorMs. Maria SumbulAssignment titleStrategic Planning and Formulation of New StrategyPurpose of this assignmentThis Assignment will make the student understand the Firm’sStrength and Formulate a New StrategyUnit AimThe aim of this unit is to give learners the knowledge and understanding of how a business unit can strategically organize and plan for likely future outcomes in order to be successfulScenarioYou are working in a Business Consulting Firm as a Strategic Consultant; a client organisation requiresconsultancy services to apply Strategic techniques to their business planning in order to be successful.As a Consultant, you are required to prepare a formal report for the board of directors explaining thestrategic planning approach to business, and justify the selected technique to them. You will also needto present the resource requirements for implementing a new strategy and contribute SMART targets tothe achievement of strategy implementation.Task 1 (LO 1) AC 1.1: Assess how business missions, visions, objectives, goals and core competencies inform strategic planningLearners are required to define the terms and state the mission, vision, objectives, goals and core competencies of your chosen organisation and also explain how it is aligned with their strategic planning.Define each of the terms , mission, vision, objectives, goals and core competences; Explain how these terminologies inform strategic planning of the chosen organisation.AC 1.2: Analyze the factors that have to be considered when formulating strategic plansLearners are required to analyse Business and Market Conditions through STEEPLE Analysis toprovide a report which company can use for strategic planningDefine strategic planningConduct Steeple analysis of the chosen organisationAC 1.3: Evaluate the effectiveness of techniques used when developing strategic businessplansCompare and contrast by giving advantages and disadvantages of three different planning techniqueswhich you could apply to your chosen organisation.Define and describe three different planning techniques, for example, the BCG matrix, SPACE, GE/ 9 cell grid or PIMS Evaluate these techniques by giving advantages and disadvantages and judge its effectiveness
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Task 2 (LO 2)AC 2.1: Analyze the strategic positioning of a given organisation by carrying out anorganizational auditConduct an organisational audit of your chosen organisation by carrying out a SWOT analysisIdentify the strengths, weaknesses, opportunities and threats for your chosen organizationAnalyze the strategic positioning of the organisation through Ansoff MatrixAC 2.2: Carry out an environmental audit for a given organisationDescribe the factors of PESTEL – Political, Economic, Social, Technological, Environmental and Legal. Provide an example of each for your chosen organizationAnalyse how Porter 5 Forces are effecting the organisationAC 2.3: Assess the significance of stakeholder analysis when formulating new strategyList and analyse the organisation stakeholders and present your guidelines, who are the organisation’skey stakeholders and which stakeholder’s interest should be taken in account and why? Define the term stakeholderExplain stakeholder analysis and list your organization’s stakeholdersConduct stakeholders analysis through mapping technique (Power and Interest Model or Power and Dynamism Model)AC 2.4: Present a new strategy for a given organisationAC- 2.1, AC-2.2 and AC-2.3 leads to AC 2.4, in which learner has to select/ design and apply appropriatemethods / techniques keeping in mind already done organisation’s SWOT analysis, Porter 5 force andPEST analysis.Learners are required to select any of the strategic analysis tool from 1. BCG Matrix 2. GE/ DirectionalPolicy 3. Space Analysis and on the basis of those tools present a new strategy for selected company Task 3 (LO 3) AC 3.1: Analyze the possible alternative strategies relating to market entry, substantivegrowth, limited growth or retrenchment for a given organisationExplain alternative strategies ( Market entry strategies, Substantive Growth strategies, Limited Growth strategies and retrenchment strategies)Identify and evaluate the possible alternative strategies your selected organisation may adopt along with examples.AC 3.2: Justify the selection of a strategySelect the best alternative strategy for the selected organisation and justify with exampleCritically examine and justify the strategy selection.For example, if you suggest organic growth in Market Entry Strategy, you will need to justify your answerTask 4 (LO 4) AC 4.1: Access the role and responsibilities of personnel who are charged with strategy implementationDiscuss the different roles and the responsibilities needed to implement the plan.
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