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Strategic Position of a Firm by Conducting an Organisational Audit

Assessment on understanding the process of strategic planning and formulating a new strategy for a given organization.

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Added on  2020-07-22

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Business Strategy INTRODUCTION 1 TASK 11 Covered in PPT1 TASK 21 2.1 Strategic position of a firm by carry out organisational audit 1 2.2 Environmental audit2 2.3 Importance of stakeholder analysis when formulating business strategy 3 2.4 New strategy for the enterprise 4 TASK 34 3.1 Appropriateness of alternative strategy 4 3.2 Justification of strategy 5 TASK 46 4.1 Responsibilities of personnel included in strategy implementation 6 4.2 Resources required for implementing a new strategy6 4.3 Contribution of SMART objectives in strategy implementation 7 CONCLUSION 8

Strategic Position of a Firm by Conducting an Organisational Audit

Assessment on understanding the process of strategic planning and formulating a new strategy for a given organization.

   Added on 2020-07-22

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Strategic Position of a Firm by Conducting an Organisational Audit_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT.......................................................................................................................1TASK 2............................................................................................................................................12.1 Strategic position of a firm by carry out organisational audit..........................................12.2 Environmental audit.........................................................................................................22.3 Importance of stakeholder analysis when formulating business strategy........................32.4 New strategy for the enterprise.........................................................................................4TASK 3............................................................................................................................................43.1 Appropriateness of alternative strategy............................................................................43.2 Justification of strategy.....................................................................................................5TASK 4............................................................................................................................................64.1 Responsibilities of personnel included in strategy implementation.................................64.2 Resources required for implementing a new strategy......................................................64.3 Contribution of SMART objectives in strategy implementation.....................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
Strategic Position of a Firm by Conducting an Organisational Audit_2
INTRODUCTIONBusiness strategy is a techniques or step by step process used by business enterprises forachieving their both short and long term goals. One of the main advantage of using an effectivebusiness strategy is that it helps in maximum utilise all the resources of business and at the sametime enhance the productivity of workers. It provide guide to business managers while setting theobjectives and also provide support for getting competitive advantage. Business strategy guidemanager in evaluating all the factors exist in the business environment as activities of businessget affected by these factors (Astrachan, 2010). It helps in making the performance of businessmore effective. According to the case study give, Jack & Jones, one of the biggest manufactureof automobile is taken under this report for study. Firm make quality products and serve it inmore than 110 countries. How strategic planning and other plans of business get affected by thevision, mission, and other factors all is detailed under this report. Various factors which shouldbe consider by a manager during the formulation of strategic plans is mentioned under this.Along with this, relevance of stakeholder analysis and roles or responsibilities of variousemployees which included in the process of strategy implementation all is detailed under thisessay.TASK 1Covered in PPTTASK 22.1 Strategic position of a firm by carry out organisational auditProcess of adding values to all activities of enterprise and improve the output of variousoperation by evaluating is known as the process of organisational audit. This process helps inidentifying the effective skills of organisation including infrastructure, human resources and atthe same time guide manager in making appropriate strategies for achieving the end results.SWOT analysis can be used by the organisation for this as it is very effective and assist managerin knowing the strengths, weakness, opportunities and threats of the firm (Elliot, 2011). FurtherSWOT of Volkswagen can be better understood by the following points:Strengths: Special characteristics and skills of an enterprise which help firm in producing qualityproducts and capture a larger market share is known as the strengths of a firm. Following are themain strengths of Volkswagen: Firm produce and deliver variety of quality products for large number of its customers.1
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Firm use an ethical and effective method for manufacturing the product all this helps inachieving consistency in all operations. Activities of firms are expanded in number of areas.Strong brand image is one of the biggest strength of Volkswagen, which increase the saleof firm's products.Innovative and high quality products of the firm attract large number of customerstowards it.Ethical and standard way of producing the products increase the effectiveness of allbusiness operations and at the same time remove the grounds of arising conflicts atworkplace. Advanced and high tech, research and development department of the firm guide theenterprise in identifying changing needs and wants of customers and serve them in abetter way.Weakness: main weakness of Volkswagen can be understood by the following points:Increasing number of competitors is one of the weakness of firm which largely affect itsactivities.Competency and skills of workers are not much effective and this affect the quality offinal products.Opportunities:Increasing scope and trend of more technological products give opportunity to the firm toexpand its activities in various areas.Changing needs and wants of the firm provide opportunity to the firm to add specialfeatures in the product for satisfying their needs and wants.Threats:Increasing the number of its rivals is one of the threat for the company.Various rules and procedure set by the government for making the product creates hurdlein the execution of firm's operations.2.2 Environmental auditIdentification of various elements exist in the business environment and its effect on thevarious activities of business is known as environmental audit. Various factors and change takeplace in these factors largely affect the operations of firm. It is very important for an enterprise to2
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