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Business Strategy of VW Group

   

Added on  2020-07-23

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Business Strategy
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Goals and objectives inform strategic planning ..............................................................11.2 Factors are considered in strategic planning....................................................................21.3 Effectiveness of techniques while formulating strategic plan..........................................3TASK 2............................................................................................................................................42.1 Analysis of strategic positioning of VW..........................................................................42.2 Environment Audit for VW..............................................................................................52.3 Significance of Stakeholder Analysis...............................................................................72.4 New business Strategy of VW..........................................................................................7TASK 3............................................................................................................................................93.1 Alternative strategies relating to market entry, substantive growth, limited growth.......93.2 Justification of Selected strategy....................................................................................10TASK 4..........................................................................................................................................104.1 Assessment of roles and responsibilities of the strategic personnel...............................104.2 Analyzing the resource requirement...............................................................................114.3 Contribution of SMART targets.....................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONBusiness Strategy is a plan of action for a business in the long term configured to achieveits set objectives (Ackermann and Audretsch, 2013). It is basically a plan which states how theobjectives will be achieved and design activities for accomplishment of same. Strategy is a corefunction in the organisation. Developing a good strategy and executing it effectively can dowonders to the company. This report consists of implementation of various business strategies onVW group.Volkswagen is a German based car manufacturing company that is operating globally.Present report focuses on the business strategy of company for coming period. Report willanalyse the importance of effective targeting and segmentation of people. Also, new strategy willbe developed keeping in mind the internal as well as external factors affecting firm’s operations.The business planning, development and evaluation of business strategy will also be taken underconsideration. TASK 11.1 Goals and objectives inform strategic planning Strategic planning plays an important role in growth and development of every businessorganisation. It helps managers to get high competitive advantage from target market. Strategiesplanning is a procedure which helps managers to establish priorities and it forces people to makechoices what to do or what not. Along with this, it provides broad outline regrading allocation ofresources. While developing any business strategy managers are required to considered certainimportant factors in order perform effectively in target market. Vision A vision statement is a detailed information about business organisation.It means what it would likes to achieve in short as well as long termperiod. It serve as a proper guideline in order to set course of action(Azar, 2011). For example- the vision of cafe cultural is to become theleading food and beverages provider in UK by delivering highercustomer satisfaction in terms quality as well as cleanliness. Mission It refers with the fundamental purpose of a company for which its isexisting in target market. A clear mission statement represents a clearpicture an organisation. For example – the mission statement of Caffe1
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cultural is to committed towards continuous development and training toemployees. Goals andobjectives Goals are known as basic guidelines which provides direction to acompany in order to achieve its vision. Whereas objectives are defined assuch strategies or steps so as to attain predetermined goals (Annabi andMcGann, 2013). Business objectives should be more specific and clear.For example- the goals and objectives of Caffe cultural is to ensurehigher level of customer satisfaction by supplying qualitative products. Core competenciesIt is essential for companies to realise its core competencies; it givesstrengthen to activities and operations. 1.2 Factors are considered in strategic planningIn order to grow and diversify in target it is essential for managers to analyse allimportant aspects. Along with this, it can improve the effectiveness of strategic planning andincrease the chances of getting success. There is described certain following factors which mustbe involved in strategic plan: - Management – Effective leadership styles and management process should be involvedin the business strategies. Strong ownership can put an impact on morale of staffmembers as well as organisational cultural (Ang, 2011). Various forms of managementhelps Caffe cultural in its decision making process and improve the quality of workingactivities. Market competition – Strategic planning also should encompasses with marketcompetition. So that plans and policies have to developed after analysing marketcompetition. There are are so many rivals of a firm which can affect its sales andprofitability. Climate changes – Climate is uncertain which can have direct and indirect impact onbusiness activities. Therefore, this factors should be also considered while making firm'sstrategies and policies. Availability of resources – Effective and adequate resources should be used in strategicplanning process. In the context, companies need to usage new and innovative tools ofproduction so as to get higher level of efficiency and productivity. It would helps a firm2
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