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Business Strategy for VW AG : Report

   

Added on  2020-07-23

16 Pages4906 Words45 Views
BUSINESS STRATEGY

Table of ContentIntroduction...............................................................................................................................................3Task 1........................................................................................................................................................3Business Visions and Objectives..............................................................................................................3Strategic Planning.....................................................................................................................................4Effectiveness of Techniques used in Developing Strategic Business Plan..............................................5Task 2........................................................................................................................................................6Strategic Positioning of VW and making of an Organizational Audit.....................................................6Environment Audit...................................................................................................................................7Stakeholder Analysis for Formulating New Strategy for VW AG...........................................................8New strategy for VW AG.........................................................................................................................9Alternative Strategies related to Market Entry, Substantial Growth and Limited Growth for VW AG. .9Justify the selection of the strategy for VW AG.....................................................................................10Roles and Responsibilities of personnel at VW AG...............................................................................11Estimated Resource required for implementing new strategies 300......................................................12Contribution of SMART targets to achieve strategy implementation at VW AG..................................13Conclusion..............................................................................................................................................13Reference List.........................................................................................................................................14Page 2 of 16

Introduction The aim of this assignment is to present a business plan and look out for a financer. This case has to bepresented Dragon's den and BBC and have to pitch for investment. In the meantime five venturedcapitalist are willing to invest in this business plan in exchange for equity. One of the investors isRegent College Academic staff to pitch the business plan before it has being pitched to den of thedragon. In this assignment the use of strategic planning will be vital for making a good business plan.The technologies that have been used to make this business plan be discussed too. The wholeassignment is based on business strategy. Thus all the ways of making a perfect business plan will bediscussed. After understanding the strategic plan and also the key elements of strategic planning andways of implementing it can be successfully imposed on the employees to solve the issues. Thesestrategic tools will be applied to Volkswagen. This will help to understand that how much effectivethese tools are and has to be put through an examination of VW and far and near environment.Volkswagen has a portfolio of brands in the international market. This assignment is also about hownew strategic plan can benefit VW and its presence in the market.Task 1Business Visions and Objectives A business vision can be described as a clear mental image of what someone wants from the businessand where do they see themselves in the future. There can be many different types of vision ofdifferent people which varies all the time. It is important to have a clear vision of the business whichsomeone is doing; this will help them to create a clear focus of what they want to do in the future andhow they want to evolve. It can be said that having a business vision is very necessary because it helpsthe businessman to focus on one particular thing and this will force the person to try its best to achievesuccess (Hill, et al, 2014). This will also help in focusing in one particular thing because at timespeople get distracted from what they are doing and starts heading in the wrong way. This problem canbe solved if the person has a clear focus of what to do in future and with the business. A good vision isnecessary to achieve a person's business goal. Vision says a lot about the organization of what it wantsto do and where it will go in the future. Every person has their own goals and objectives in business. Itbasically means the goal which business wants to achieve. Business objectives in the detailed stepsneeded to take in order to achieve their stated aim. To get a good business objectives vision ofPage 3 of 16

business should be very clear only then the person will know what to do in order to achieve the goaland that person will start to plan accordingly. Action planning is required to meet a business'sobjectives because planning is the key for every business success. Innovation is an important factor inthe steps of achieving objective of a business. Any which has innovative ideas will also reach its goalseasily than others who are not focused and do not have a business objective. Financial resources are animportant factor in the whole process because without strong financial support it is hard to achieve theobjectives of a company. All these points have to be kept in mind while setting business objectivesbecause all these factors it is hard to achieve goals of any company. Thus it can be said that bothobjective and proper visioning is an important factor for achieving business goals.Strategic Planning The factors which have been considered while making a successful strategic plan are:Figure 1: Strategic Planning and Different aspects(Source: Schulz et al. 2014)●Vision- The management and the business leaders should have a clear vision and should befocused for the future of the organization. It is important to have a clear vision for any businessthis helps the organization to go towards the right path and not in a complete wrong path. Thusa vision is a major factor that has to be considered to produce a successful business strategy.Page 4 of 16Strategic PlanningObjectivesAction plansStrategiesMissionVision

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