Business Strategy: Strategic Planning, Vision, Objectives, Goals, and Core Competencies

BUSINESS
STRATEGY

1.1 Strategic planning
• Mission : Mission refers to the planning that is made by the company so that they can handle all the uncertain
factors that are uncontrollable in nature with a proper back up plan.
• The company can achieve its goals and objective on time only if they follow the steps that are mentioned in it .
The Dragon den is a TV show of the entrepreneur that is telecast on the BBC channel and they have mission to
attract mare viewers and entrepreneurs for their show.

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• Vision : Vision is refers to the ability to see but in the business it refers to pre analysation that is done by the company to avoid
all the threats that may affect the business in all the way possible.
• Pre analysation of all the factors will help the company to take the corrective measures on time. BBC is news channels as it has
the clear vision to achieve the success with the position by proving their efficiency in each sand every task that is performed
by them.

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• Objectives : Objectives are the part of the planning as to make a plan there has to be a proper objective
behind them. This translate the process into action as this clarifies the purpose behind setting up a
business and helps in identifying the necessary actions that should be taken by the company to achieve
its goalS.
• BBC has a clear objective to promote it shows as this is very important for them if the want to retain in
the market and achieve the goal on time.
• Goals : Goals refers to the target that has to achieved by the company if they really want to retain in the
market and earn more profit. Goals determines the desire of the company as what it want to do and in
what time.
• This decides the future of the company in the market. BBC has clear goal to promote its shoes so that
they can retain in the industry and will be able to earn more profit.