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Business strategies for Volkswagen

Assessment on understanding the process of strategic planning and formulating a new strategy.

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Added on  2020-06-05

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1 1.2 Factors to be considered while formulating strategies 2 1.3 Effectiveness of the tactics to inform strategic planning 3 TASK 24 2.1 Assessment for the strategic positioning of Volkswagen 4 2.2 Development of environmental audit for Volkswagen 6 2.3 Analysation of the importance of stakeholder analysis. 8 3.2 Justification for the selection of appropriate strategies 9 TAKS 410 4.1 Analysis of roles and responsibilities of personnel 10 4.2 Assessment of the need of resources to meet the objectives11 4.3 Evaluation of the contribution of SMART goals 11 CONCLUSION

Business strategies for Volkswagen

Assessment on understanding the process of strategic planning and formulating a new strategy.

   Added on 2020-06-05

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Evaluation of business vision, mission, objectives and core competencies..........................11.2 Factors to be considered while formulating strategies..........................................................21.3 Effectiveness of the tactics to inform strategic planning .....................................................3TASK 2............................................................................................................................................42.1 Assessment for the strategic positioning of Volkswagen ....................................................42.2 Development of environmental audit for Volkswagen.........................................................62.3 Analysation of the importance of stakeholder analysis.........................................................72.4 Recommended business strategy for the selected organisation............................................8TASK 3............................................................................................................................................83.1 Evaluation of appropriateness of alternative strategies.........................................................83.2 Justification for the selection of appropriate strategies.........................................................9TAKS 4..........................................................................................................................................104.1 Analysis of roles and responsibilities of personnel.............................................................104.2 Assessment of the need of resources to meet the objectives...............................................114.3 Evaluation of the contribution of SMART goals...............................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONStrategies for business plays a significant role in the effective functioning of theorganisations. A well-defined business plans are always better to have for proper guidance inwhich operations should be carried. It helps in achieving specific business goals and objectives.Business strategies are framed after the overall assessment of all the internal and external factorsthat can harm the effectiveness of the organisation (Campbell, Edgar, and Stonehouse, 2011). Inorder to evacuate the negative factors and the flaws obtained in these analysis, business strategiesare prepared. The present report is prepared for the investigation of dragon den, BBC. Aneffective business plan has been developed for the selected entity. Furthermore, many importantaspects of the business objectives and its core competencies will be discussed in this study. Thisundertaking also revolves around Volkswagen. Various tactics that are used by the cited firm tocope up with the factors impacting its value. In addition to this, ways in which the company cangain competitive advantage will be analysed in this undertaking. Lastly, some SMARTobjectives will be suggested to VW for getting business operations on right track. TASK 11.1 Evaluation of business vision, mission, objectives and core competencies.Effectiveness in planning is highly required buy the individual to ensure access to theirorganisational goals and objectives. These strategies thus formed are considered as an effectiveprocess that helps in demonstrating organisational policies, ways and allocation of resources,budgeting, etc. However, there are certain terms which are required to be consider before suchplanning. They are the business visions, mission, objectives and core competencies, which aredescribed below:Mission: Mission of an organisation is the rationale behind its set-up and existence. It isregarded as the aim of an establishment and this statement is very significant. Mission statementsstates the actions that are to be taken to meet the business vision. It further motivates employeesto work in a co-ordinated manner (Chaffey, and White, 2010). For instance- A mission of acompany belonging to retail sector can be "to provide effective products to the customers tosatisfy their needs and demands to earn more profitability". Vision: It is regarded as the future desires which a organisation has for the business. Visionstatements of an entity also rendered an understanding of the tasks that are to be completed in aspecific time period. For instance: The vision of a company belonging to retail sector can be "to1
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become a leading player in the sector by providing products to the customers as per their needsand demands."Objectives: Objectives are the the findings of the actions that are planned to attain theorganisational goals. These are the measure of the progress that motivates businesses to work ineffective manner. They are also regarded as the guidelines that helps in work according to theplan.Core competencies: These are the set of abilities possessed by an organisation to gaincompetitive advantages over the rivals. This feature helps entities in sustaining in the marketplaces. For instance: In context to a fashion store the core competencies required are the designof the clothes, the material used, quality, skilled employees, effective after sales services, etc.Such entities can gain competitive advantage by working on all these factors in an appropriatemanner (Champoux, Durgee, and McGlynn, 2012). 1.2 Factors to be considered while formulating strategiesThere exists some factors that should be considered by all the organisations beforeformulating strategic business plan. This analysis is significant in determining the elements thatcan impact upon the business performance. In order to cope up with this, some assessments thatshould be performed for the successful accomplishment of the plan are as follows:Analysis of market environment: Before starting formulating any business plan, it isessentially required to analyse all the internal and external factors which are associated with thebusiness. The outcome obtained from these assessment gives clear understanding that anorganisation will require for its operations and expansion. Some major tests that are performedfor analysis of environmental factors are target segments, economic condition, policies used bycompetitors, etc. (Davis, 2012).Analysis of competitors: Competitor or rivalry analysis is also a significant assessment thatshould be performed by organisations to sustain in the market place (Hoskisson, Shi, Yi, andJin, 2013). For this type of analysis the tool that can be used is benchmarking, competitiveanalysis model, etc. With the helps of these tactics the idea of effective policies adopted by therivals can be understand. Further, the level to competition present in the market place can also beestimated. 2
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