BUSINESS STRATEGIES TASK 1.

TASK 1
BUSINESS
STRATEGIES

Covered content
• Introduction
• Business strategies for company.
• Factors which must be considered while formulating plan
• Effectiveness of techniques businesses need when developing their plans.
• Conclusion
• References

INTRODUCTION
Business strategy plays a vital role in development and growth
of any organisation. Manager of company has to make plan,
which will aid them to attain targets and objectives in an
effective as well as efficient manner.

Business strategies for company.
An effective business plan of any organisation plays an important
role to accomplish mission, vision, goals as well as core competen
cies.

Continued...
 Mission: Company wants to develop their products and servic
es more attractive as well as environmental friendly which wil
l aid them to enhance their market share and goodwill.
 Vision: Organisation wants to maintain quality of their comm
odities, which will help them to retain their customers as well
as attract more clients towards them.

Continued...
 Goals and objectives: Volkswagen wants to increase their b
uyers so that they can improve their profits and brand imag
e in society.
 Core competences: Enterprise has variety of products for th
eir buyers, which will provide them more satisfaction.

Factors which must be considered while formulating plan.
Main responsibility of top level management is to develop strategi
c plan for organisation. It must be understand by each and every pe
rson with firm so that they can follow it appropriately. It consists:
 Communication
 Innovation
 Culture

Effectiveness of techniques businesses need when developing t
heir plans.
Volkswagen can create some strategies for their business, which
will assist them to attain goals and objectives effectively as well
as efficiently. BCG matrix is used by them so that they can do t
heir operational activities in an appropriate manner.

Continued...
 Stars
 Cash cows
 Dog
 Question mark

Conclusion
From above presentation it has been concluded that if company wa
nts to make strategies for their concern they have to set targets and
objectives. Organisation can use BCG matrix for their operational
activities.

References
Agyapong, A. and Boamah, R. B., 2013. Business strategies and co
mpetitive advantage of family hotel businesses in Ghana: The r
ole of strategic leadership. Journal of Applied Business Researc
h. 29(2). p.531.
Bozkurt, Ö. Ç. and Kalkan, A., 2014. Business Strategies of SME's,
Innovation Types and Factors Influencing Their Innovation: Bu
rdur Model/KOBI'lerin Isletme Stratejileri, Inovasyon Türleri v
e Inovasyonlarini Etkileyen Faktörler: Burdur Modeli. Ege Aka
demik Bakis. 14(2). p.189.

Thank You