Business Strategy of Volkswagen company : Project
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Added on 2020-06-06
Business Strategy of Volkswagen company : Project
Added on 2020-06-06
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................12.1 Organisational audit of Volkswagen................................................................................12.2 Environmental audit of Volkswagen................................................................................22.3 Importance of stakeholders analysis while formulating new strategy .............................32.4 New strategies for Volkswagen........................................................................................4TASK 3............................................................................................................................................43.1 Alternative strategies appropriateness..............................................................................43.2 Justification of strategy.....................................................................................................5TASK 4............................................................................................................................................64.1 Roles and responsibilities of personnel who are responsible for strategy formulation....64.2 Resource requirements for implementing the new strategy for VW AG.........................74.3 Contribution of SMART targets in business strategy.......................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONBusiness strategies can be referred as a set of activities by which company reaches to itsdecided destination within stipulated period of time (Scholes, 2015). It is a long term planningwhich consists of various steps that have to be followed by every employee while performingtheir job. In short, it can be said that it provides vision and mission to all members that help incarrying out the operations effectively and efficiently as everyone will know the proper way forperforming their job. This strategy is very helpful in achieving the competitive advantages overits rivals. This project is based on Volkswagen which is the biggest automobile company inUnited Kingdom. It manufactures better quality of products or services as per the requirement ofcustomers' needs or wants. This assignment will help in knowing that how business vision,mission and goals help in formulating the strategic plans. It will also state about the importanceof stakeholders while formulating a new strategy. TASK 1Covered in PPTTASK 22.1 Organisational audit of VolkswagenIn today’s competitive world, it will be grateful for company if it will evaluate its owncapability and performance so that it can remove all their weaknesses from the workplace withinset period of time and can obtain its desired result effectively and appropriately (Werner and Xu,2012). This audit is very beneficial for an organisation because it creates value for the firm aswell as improves business operation effectively. It aids in obtaining specified objectives byadopting systematic and disciplined approach by which effectiveness of risk management can beimproved. In simple terms, it can be said that it is an activity that aids in improving businessoperation by identifying strengths or weakensses. This audit can be carried out through SWOTanalysis which will help in identifying the gaps that exist in between desired performance andexisting capability. VW AG's SWOT analysis is as give below- Strengths- It has good brand name in the entire world which has gained trust of large number ofcustomers. 1
It has large number of employees who are well skilled.It provides various range of products to their clients.Effective and efficient marketing department. It does joint venture with local Chinese auto mobile company for capturing large marketshare. Weaknesses- Continuously increasing level of competition in the market. It has limited growth and market rate. In U.S market, it has low market share.It has no ability to make battery driven vehicles. Opportunities-It can expand their business in African market.It can merge with Non-German auto-mobile manufacturer. It can acquire any new company for increasing its skills and competence. Now a day, clients are demanding for autonomous vehicles.Focus on significantly improving sustainability policies to remedy damaged brandreputation. It should introduce fuel efficiency in their products so that its demand can be increased. Threats- Some competitors are introducing some unique products to their clients.Cost of production is very high. Government has introduced some environmental related rules and regulation nowcompany has to make their strategy accordingly. Government of host country is providing more safeguard to local manufacturer thatminimize company’s efficiency (Isoherranen and Kess, 2011).Continuously increasing fuel prices which is the biggest threat for this because it willdecrease the demand of products. 2.2 Environmental audit of VolkswagenIn today globalisation period of time, there are various factors which affects businesscapability and effectiveness (Business Strategy, 2017). While formulating any new strategy,2
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