Business Strategy Report: HND Business, Unit 7, Strategic Planning

This report analyzes business strategy, focusing on the processes of strategic planning, including the assessment of business missions, visions, objectives, goals, and core competencies. It explores internal and external factors influencing strategic plans, such as company policies, political stability, social trends, technological advancements, and competitor actions. The report also evaluates the effectiveness of techniques used in developing strategic business plans, particularly SWOT analysis and Porter's Five Forces model, which aid in identifying strengths, weaknesses, market share, and competitive forces. The introduction outlines the purpose of business strategy, its role in achieving organizational goals, and the importance of adapting to consumer needs and technological advancements. The report also includes references to relevant academic sources.

Business Strategy

Table of Content
 Introduction
 1.1 Business goals and core competencies.
 1.2 Factors which needs to be considered while
making strategic plan.
 1.3 Evaluation of the effectiveness of ways used
while framing strategic business plan.
 References

Introduction
Business Strategy:
 Referred to as management plan which is
implemented in order to increase the performance of
the organization.
 Assist the Den of Dragons for investment plan in
attaining desired goals and objectives.

Continued...
Mission:
To frame future strategies so they can improve their
relations with the consumer and focus on the services
which include quality.
Vision:
To make more technologically advanced products and
caters the services all across the world.

Continued...
Goal and Objectives:
Expand into other countries of UK and try to attract the
customer of rivals.
Their objectives focuses on giving quality services so
that customer satisfaction can be achieved.

1.2 Factors which needs to be considered while
making strategic plan
Internal Factors:
Concerned policies, culture and strategies of company,
Values and beliefs are considered for the plan.

Continued...
External Factors:
Political factors are the political stability in the country.
Unemployment, interest rate, crude oil price and etc. are
some of this which can influence the tasks of the
entertainment industry.

Continued...
Social factors are the lifestyle and behavior of the
people and according to it things should be included
into the plan.

Continued...
Technological areas of the company products requires
that things are done according to the future
technology.
Competitors can influence their strategic plan as they
are also bringing new products loaded with various
features.

1.3 Evaluation of the effectiveness of ways used while
framing strategic business plan.

Continued...
SWOT Analysis:
Through this analysis they can know what are their
strengths and weakness. The information gained from
this can be used in developing business strategy.
Company can increase their market share.

Continued...
Porter Five Force Model:
Company can identify the bargaining power of suppliers
and buyers, threat from new businesses and threat
from the competitors.