Assessing Business Missions, Visions, Objectives, Goals & Core Competencies in Strategic Planning

This presentation discusses the role of business missions, visions, objectives, goals, and core competencies in informing strategic planning. It also explores the factors to consider when formulating strategic plans and evaluates the effectiveness of techniques used in developing strategic business plans.

Business
Strategy

TASK1

1.1Assess how business missions, visions,
objectives, goals & core competencies inform
strategic planning
The strategy are the directions which helps the
organisations to set up their long term goals and cope
up with the business environment and aims at
completing the expectancy level of their shareholders.
The Volkswagen must consider must framed flexible
strategic decision for their company which aims at a
gaining the goals and completing the target settled by
them.
Mission: The mission is mainly consists with the
providing of the general information of the company
and their purpose that they will imply for achieving
their missions. The mission of the Volkswagen explains
the image of their business and the target set by them
for reaching to the success level.

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Goals and objectives: The goals are considered as the outcomes
from the planed source it consists of achieving some targets. Goals
can be of short terms as well as long term. The Volkswagen attains
to get maximum sales and gets a high rate of profit level and
providing satisfactory services to their customers.
Vision: A vision includes the main working ideas for the working
performance in the business. It leads to generation of certain ideas
for the business (Choir, 2014.). It also helps in identifying how
business will be reached towards its objectives. The Volkswagen
mission details about the growth level in their business and how to
do more improvement in their business.

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Core competencies: The core competency
includes various factors and resources
collectively that sates to be different in nature in
the market (Hirschinger, 2016.). The
Volkswagen works on their various tools and
performing the actions with advanced
equipments to survive in the competitive world.

1.2 Analyse the factors that have to be
considered when formulating strategic plan
There are certain factors that need to be considered at the
time of formulating the strategic plans. The factors are
Communication- The effective communication is a most
important part in any business. The strategic planning can
be successful when there is a healthy communication
between all the levels from top to the operational making
aware them about the strategic planning.
Culture- Culture is a lifestyle. Understanding the cultural
values helps in getting the culture support towards the
plan. The organisational culture contains various factors
such as the attitudes of the employees, beliefs, values and
behaviour against each other.

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Environmental factors- At the time of
strategic planning the external and internal
factors must be considered and evaluated. The
Volkswagen must try to cope up with the
changes in the environment and adapts certain
changes in their working which also leads for
the betterment in the work performance and
helps in surviving for longer term in the
competitive world.

1.3 Evaluate the effectiveness of techniques
used when developing strategic business
plans
BCG matrix- The BCG matrix is also called by the growth
matrix. The BCG matrix is mainly based on the product life
cycle theory which helps the business in identifying the most
suitable appropriate strategies and a certain level which should
are required to particular business unit. The BCG matrix also
plays an important role in the strategic planning. It determines
the profitability state of the business. The BCG matrix is
distributed into four categories mainly as cash, cow, dogs and
the question mark (Park, 2014). The model helps the business
in identifying whether they are required to invest n the
business or required to do discontinue in their business or
sometimes they are n the state of developing new products.

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GE MCKinsey matrix- This model mainly highlights
towards the industry sector and the business unit strength.
They include the nine cells and deals within the certain
types of variables and are determined by evaluating the
criteria and executing the value of each and later
multiplying the value with the determined factors. It is a
guideline structure that analysis the business portfolio
and further implicates the strategic planning and
determines the investment requirements in each business
unit. The GE MCKinsey matrix considers more
complicated in nature.

M1 Make an effective judgment about the value to
your business plan of mission statements, vision
statements
The business aims at achieving the maximum rate of profits
and doing the large number of expansion in the business. For
running the business successful the vision, missions are stetted
which leads to set up an performance standard and aims at
achieving the particular target settled (Galvin, 2014). The goals
are the benchmarks fixed up the company to reach a certain
success level. The adaption of new technologies working with
cope up in dynamic environment leads to survive in the
competitive world and retains long term life of the business.

M2 Explain and then evaluated the key
techniques available to the business
The business performance and techniques are based on
certain parameters. They are deepened on the certain
model. The BCG matrix plays an important role in the
business. It provides a blue print for the business and helps
in identifying whether there is requirement of the
investments in the business or requires to do discontinue
the business activities. It searches out the needs of
developing of the new products. The GE MCKinsey model
emphasis on the strategic planning and identifies the
investment requirements in each business unit.

References
Phapruke Ussahawanitchakit, P.I., 2011. Internet Srategy of
E-Commerce Businesses in Thailand. International Journal
of Business Strategy, 11(1), pp,47-66.
Hirschinger, M., 2016. No Vehicle Means No Aid–A
Paradigm Change For The Humanitarian Logistics Business
Model. In Essays on Supply Chain Management in
Emerging Markets (pp, 43-64). Springer Fachmedien
Wiesbaden.
Park, C.K., 2014. The Characteristic of Enterprise Groups
and the Demand-Supply Relation Analysis in the Korea
Solar Energy Industry. Journal of the Korean Solar Energy
Society, 34(4), pp.83-90.