Business Strategy and Its Importance : Assignment

BUSINESS STRATEGY
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TABLE OF CONTENTS
INTRODUCTION ...............................................................................................................................4
1.1 Understand strategic position of Kellogg's ...............................................................................4
1.2 Strategic choices .......................................................................................................................6
1.3 Strategy into actions ..................................................................................................................8
CONCLUSION .................................................................................................................................10
REFERENCES...................................................................................................................................11
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INDEX OF TABLES
Table 1: SWOT analysis of Kellogg's...................................................................................................5
Table 2: Bowman strategy clock for Kellogg's.....................................................................................6
Table 3: BCG matrix for Kellogg's.......................................................................................................8
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INTRODUCTION
Business strategy is a set of activities which are carrying out for achieving some specific
objectives of business. It is concerned with how a company competes successfully in a specific
market. Here, different kinds of strategies are formulated with various intentions such as selection
of a product; meet the needs of end users, taking competitive advantage, creating new opportunities
for business, increase market share or profit, taking growth in particular market place etc. Business
strategy is a long term planning that is designed by companies to accomplish particular aim or
objectives of business operations. Development of business strategy is a major function of all types
of organizations (Allio, 2006). By defining it in a clear manner, firm can increase the chances of
growth in the competitive market place in upcoming future. Business strategy can be defined as
either in a set of strategic statements or in paragraphs format. With the help of this, enterprises can
easily achieve the goals of business, meet the expectations of customers and develop sustainable
business in the competitive environment. The present research is related to business strategy and
focuses to understand its importance within the organization, such as Kellogg's Company which is
taking into consideration for better understanding of such study (Chernev, 2012). Objectives that
will cover under the following study are related with understanding the strategic management
process, strategic position of company, strategic choices and appropriate methods to convert
strategies into actions.
1.1 Understand strategic position of Kellogg's
Kellogg's is an American multinational food production company. Major food products of
company are cereal, convenience foods, toaster pastries, cookies, vegetarian foods etc. The purpose
of organization behind conducting business is to deliver nutrition food products to the community.
Besides this, Kellogg's is taking different environmental initiatives that help in achieving
sustainable business. Along with this, numerous efforts of company have reduced the consumption
of energy and minimized greenhouse gas emission from business operations. Current market share
of organization is about 34% in the UK (Kellogg, 2015).
Mission: To build long term growth in future by delivering nutritional food products to the
community.
Objectives:
 To become a leader of manufacturing cereal food in the world.
 To attain sustainable growth in cereal food manufacturing business.
 To develop an effective work environment by creating a team of talented and dedicated
workforce (Objectives, Strategies, Tactics, 2015).
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