Business Strategy Essay of Volkswagen

Business Strategy

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Organisational vision, mission, goals and objectives helps in strategic planning............1
1.2 Factors which should be considered while making strategic plans..................................2
1.3 Methods to develop strategic business plans....................................................................3
TASK 2............................................................................................................................................4
2.1 Carrying out organisation audit to evaluate strategic position of firm.............................4
2.2 Environmental audit for organisation...............................................................................5
2.3 Importance of stakeholders in developing new strategies for organisational growth......7
2.4 Developing alternate strategies for the growth of company.............................................8
TASK 3..........................................................................................................................................11
3.1 Evaluating appropriateness of alternate strategies.........................................................11
3.2 Justifying the selection of specific strategies for future business plans.........................11
TASK 4..........................................................................................................................................12
4.1 Responsibilities of personnel who are engaged in strategic implementation.................12
4.2 Evaluating the need of resources for effective implementation of new strategies.........12
4.3 Importance of SMART goals in achieving objectives of strategic implementation in firm
..............................................................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Business strategy is beneficial in achieving the targets of firm effectively as this provides
and direction of growth to the firm and defined the plans by evaluating the available
opportunities in marketplace and assessing the external environment too (Firnkorn and Müller,
2012). Volkswagen is an automotive company who is engaged in developing various corporate
strategy to expands the business in international market. The strategies largely contributes in
achieving the SMART targets. In this particular report the various approaches to the strategic
implementation is discussed along with defining various expansion strategy for firm VW AG
following the Ansoff matrix and Porter's five forces model.
TASK 1
1.1 Organisational vision, mission, goals and objectives helps in strategic planning
Before setting business goals and objectives it is highly important for managers to
identify current needs and demands of market. On the basis of market trends, company should
prioritise their aims and objectives. By following this procedure, Azimo can accomplish its
major goals and also can satisfy market demands. For better growth and development
organization should change and update its business strategies. Modification in strategic plans can
lead company to high level of success. Needs and demands of market always change so it is
responsibility of managers to cope up with those modifications otherwise they can not survive in
marketplace for long time period. In simple words, it is highly important for organisations to
make their business decisions as per the environment. By doing this, enterprise can enhance its
organizational growth and development. While making strategies managers of Azimo should
consider its organizational goals, objectives, mission, vision and core competencies because
without considering them they can not make effective strategic plans.
Mission: It is known as short term goals of company. Azimo provides various services
through which people can transfer their money online and in any country. It send money by
internet connected devices. It operates its business in approx 190 countries. The main mission of
this company is to create values for its potential clients by providing them money transfer
services.
Vision: It is considered as long term goals of organization. The Azimo's vision is to
satisfy its employees as well as its customers by providing them effective products or services. It
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always change its organizational structure and culture according to the market needs and
demands. It always update and modify its strategies so that it can provide better services to its
customers as per their demands.
Objectives: Azimo is established to gain financial profit. Apart form this, it have some
other objectives such as high productivity, employee satisfaction, customer gratification, worker
retention and organizational growth. This organization wants to transfer international money
faster, cheaper and in simple way. This company always focus on technology up-gradation
because without this it can not transfer money online.
Goals: This organization was launched in 2012 in recent years it have reached to high
level of success because of its effective services. It present time, its main goal is to expand its
business in all over the world so that it can cover large market share. Also, it wants to provide
high satisfaction to its customers so that it can retain them for long time period.
Core competencies: These are the strengths of organization. In simple words, they are
considered as strategic advantages of company which lead it to high level of growth and
development. Azimo have deeply research the needs and requirements of customers so that it can
provide them effective services. The main competencies of this company are that. it charges very
less amount in exchange of its services, it always change its strategies as per the business
environment and it also helps in economic development.
1.2 Factors which should be considered while making strategic plans
Organisational growth and development totally depends upon the strategies of company.
If organization will have effective strategic plans then their chances of success will also be high.
In simple words, strategic planning of organization can provide huge number of benefits in term
of financial profit, high productivity and Large market share. There are many factors which can
affect business strategies and these are follows as under:
Innovation: In modern world, all organizations are attracting towards new technology so
that they can innovate their products and services in better way. Innovation has become integral
part of every business enterprise because by this company can lead to next level of success and
also can get competitive advantage. Azimo transfer online money in different countries of
world. As its business depends upon technology so it should consider technical forces while
making strategic plans.
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