Business Strategy

This presentation provides an introduction to business strategy, including the mission, vision, goals, objectives, and competencies of a business. It also discusses the factors to consider when formulating a strategic plan and techniques for strategic planning and evaluation. References are provided for further reading.

Business Strategy

CONTENT
 Introduction
 Business mission, vision, goals, objectives and core
competencies
 Factors considered when formulating strategic plan
 Techniques in term of strategic planning & evaluation
 References

CONTENT
 Introduction
 Business mission, vision, goals, objectives and core
competencies
 Factors considered when formulating strategic plan
 Techniques in term of strategic planning & evaluation
 References

INTRODUCTION
 Business strategy is termed as plan of actions
comprising of rules and regulations used by firms in
order to achieve their goals and assigned targets.
 The mangers should effective monitor and execute
plans and policies in order to increase work
effectiveness.

Business Mission, Vision, Objectives, Goals and
Core Competencies
Business strategy are defined as plans and policies
which are used by business in order to achieve
desired aims and objectives and execute their
working in planned way sin order to achieve
success in gaining all their targets.

Cont....
The goals, mission, vision and core competencies of business are
described as:
Mission: It is an essential short statements which are designed by every
business in order to analyse the major purpose of business, current
positions at market places, potential buyers who will use their
services.

Cont....
Vision: It is the statements which reflects where firms wants
to see themselves established in future times thus
developing plans according to those policies
Goals: This is referred as positive outcome which are to be
achieved by firm in order to grow themselves.

Cont....
Objectives: These are the basic pillars according to which
whole business is performing their business operations
Core competencies: This is described as strengths of
business which helps them to bring difference from their
rivalry firms in order to place themselves at growth stage
in market places.

Factors while Formulating Strategic plan
Every business is focusing on making effective business
strategies in order to perform all types of business
activities in good ways in order to achieve success and
growth. All the predetermined short and long goals are
also achievable with helps of plans and policies.

Cont...
Factors evaluated by firms
are described as:
Future Targets
Current market situations
Customers

Future Targets
Future Targets: Firms should give attention on
achieving all their aims and objectives in order
to analyse and achieve their future targets
which results in attaining growth and
prosperity for business.

Current market situations
Current market situations: There should be effective
marketing strategies build in order to analyse current
trends at market places so that working can be executing
by formulating those strategies which are valuable in
achieving strong positions at market

Customers
Customers: This is vital aspects in order to
analyse behaviour of customers at market
places. Modifications have to be implemented
in order to achieve success by making changes
according to current market trends

Techniques in Strategic Plan
Evaluation
Swing Patrol dance academy in UK are using
various tools to achieve all their predetermined
objectives and achieve success in their
operations.

Cont...
The components of BCG Matrix are described as:
 Star
 Cash Cow
 Dogs
 Question Mark

Cont...
Star: These type of business are having high growth rates and
also market shares. They are earning larger profitability ratios
thus easily formulate plans in order to expand their business
operations
Cash Cow: These type of business are having high market shares
but there growth rate is comparatively low.

Cont...
Dogs: These business are facing difficulties and these
should be divested from work places.
Question Mark: These business are known as trouble
child. They are able to achieve good market shares
but growth factor is very less.

REFERENCES
Bharadwaj and et. al., 2013. Digital business strategy: toward a next generation of
insights.
Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business strategy: an introduction.
Palgrave Macmillan.
Casadesus-Masanell, R. and Ricart, J. E., 2010. From strategy to business models and
onto tactics. Long range planning. 43(2). pp.195-215.

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