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Strategic Planning and Approaches of Business : Assignment

   

Added on  2020-07-23

11 Pages3466 Words54 Views
BusinessCommunication

Table of ContentsINTRODUCTION...........................................................................................................................1Sustainable Approach To Business Management............................................................................1Strategic planning...................................................................................................................1Corporate social responsibility challenges.............................................................................3Strategies for operating in ethical and sustainable way..........................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8

INTRODUCTIONBusiness communication is that process which help in sharing information among peoplewithin an organisation which are performed for the benefits of commercial of the firm. This canalso defined for relaying information in the business by their people. Most of the successfulbusiness understand that if they have provide any sound information system of sharinginformation then they will take time for making any type of decision will decline and enterpriseconflicts are reduces in proper manner (Berry, 2011). The report is based on 3com firm which issmall size company. It provide digital electronics manufacturer computer network products. Also3com provides network interface controller and switches, routers, wireless access points andmany other services. This report is explaining the strategic planning and various approaches ofbusiness, CSR challenges will became important part of this assignment. There are somestrategies which has to follow ethics and developing sustainable business can be included in thisproject. The report is based on self reflection regarding own learning. This will play an essentialrole in this assignment. Sustainable Approach To Business ManagementIn current time period, business management is very complex work. There are differentfactors that includes globalisation, technology etc., that are create barriers for entrepreneursespecially for small business enterprises. Along with this, problem related to earning profit andachieving large market, organisation have deal with new type of challenges for completingcorporate social responsibility. Strategic planning3Com is the small enterprise so they easily understand that they have large number ofrivals and gain important amount of market share which is essential for them while surviving forlong time period (Bovee, Thill and Raina, 2016). Strategic planning is the procedure ofdescribing tactics and determining effective strategies which are related to assigned resources.There are different type of components which are discussed as under:SWOT analysis- Each organisation has various strength which provide them confidencefor operating and managing in high competitive business environment. Due to lack ofexperience, small and new start up business make mistakes like every enterprise 3com havesome weaknesses. 1

Strength- The firm is famous for their new and innovative products ideas which is madeby employees and they are help in getting success that can be attained in the business.They also adopt latest methods and techniques for maintaining high quality in their workin appropriate manner. Weaknesses- 3com have very large number of customers, they capture limited marketarea where they attract desired buyers (Collis and Hussey, 2013). They can not coverlarge market due to poor performance and promotional activities of marketing. Theanother hurdle for organisation is capital, they does not expand their business in hugemarket place. Opportunities- In current era, they can design computer networking for the customers.The organisation management can begin to make efforts for signing deals with largeassociations (Zott, Amit and Massa, 2011). They need to expand their business in otherlocations. They can also enter in the new location for gaining attention of large number ofbuyers towards their innovative products and services. Threats- 3com is highly operate their business in huge competitive sector. If they can notprovide better services so they can loose their regular customers. Lack of fund amount isalso treated as other threat for the firm. They have many competitors so they mayunsuccessful for getting capital at the time of expansion in business. Long term goalsIt is important for an organisation to have some mission. The long term objective of firmis to follow their vision in proper manner. 3Com is became one of the leading enterprise forproviding various electronics products and services. They mainly focus and concentrate oninnovation activities (Danaher and Rossiter, 2011). They seek to adopt new and latesttechnologies for making unique products and earn maximum profit. Small business enterpriseenter in the another location of country and they highly depending on domestic market which cannot make them leader of the industry where they easily operate business. Application of strategic planning theoryThere are several type of theories which are related to strategical planning that includessynthesis, philosophical, rationalism etc. 3com firm are used organisation development theory,so this firm desire to make proper changes in their style of working at regular time period andthey know that if they need to grow with high pace then they have to concentrate on creative and2

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