BTEC Unit: 7 – Business Strategy

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Business Strategy
(Task 1- Strategic Planning Process)

Table of Contents
 Introduction
 Business missions, visions, objectives & goals
influencing formulation of strategies
 Factors that have to be considered while strategy
formulation
 Effectiveness of techniques used to develop strategic
business plans
 References

Introduction
This presentation will deal with the business mission, vision
and objectives of Volkswagen which influences their
strategic formulation. This presentation will also deal with
the factors and techniques considered while the process.

Business missions, visions, objectives & goals
influencing formulation of strategy
Strategic planning is the process of determining the
strategies of organisation, their direction and allocation of
resources in order to achieve their desired goals.

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Mission: Its is the basic aim of any business describing
the reasons of its existence and what they are
operating to achieve.

Vision: Its is the outline of any organisation regarding
what they want to achieve in future.
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Core Competencies: Being one of the main
components of successful businesses, they provide
competitiveness over other companies in the same
sector.

Factors that have to be considered while
strategy formulation
Volkswagen need to be
careful while creating
visions of their future
and the strategies that
will get them there.

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Engagement: The key element in the process is to
engage the staff from all levels through out the
organisation in the strategic plan.

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Communication: They have essentially communicate
from bottom to up and top to down within the
structure of the organisation as for successfully
strategic formulation.

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Innovation: Strategic plans involving development and
production of new products or involve new services
being introduced.

Effectiveness of techniques used to develop
strategic business plans
There are certain process and techniques that supports in the
determination of the strategic plans and the decisions
behind their development.

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SWOT Analysis: The most
essential component of
any business plan,
whether its for the
planning for whole
organisation or an
individual functional
department, sales or
finance.

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Nominal Ranking: It is the process of prioritizing a list of
many items, as in case of SWOT analysis.

References
Spender, J.C., 2014. Business strategy: Managing
uncertainty, opportunity, and enterprise. OUP Oxford.
Teece, D.J., 2010. Business models, business strategy and
innovation. Long range planning. 43(2). pp.172-194.
Verbeke, A., 2013. International business strategy.
Cambridge University Press.

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