Business Strategy Assignment of BBC

BUSINESS STRATEGY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Evaluation of business vision, mission, objectives and core competencies to inform
strategic planning....................................................................................................................1
1.2 Analysis of the factors to be recognised to formulate strategic planning.........................2
1.3 Evaluation of effectiveness of techniques to inform strategic planning...........................3
TASK 2............................................................................................................................................6
2.1 Analysis of strategic positioning of Volkswagen.............................................................6
2.2 Creation of environmental audit.......................................................................................9
2.3 Evaluation of major significance of stakeholder analysis..............................................10
2.4 Presentation of new business strategy for company.......................................................11
TASK 3..........................................................................................................................................12
3.1 Analysis of appropriateness of alternative strategies.....................................................12
3.2 Justification for the selection of appropriate strategy.....................................................12
TASK 4..........................................................................................................................................13
4.1 Assessment of roles and responsibilities of personnel ..................................................13
4.2 Analysis of needs of resources to meet the strategies....................................................13
4.3 Evaluation of the contribution of SMART goals...........................................................14
REFERENCES..............................................................................................................................16
Illustration Index
Illustration 1: BCG growth matrix...................................................................................................5
Illustration 2: SWOT analysis..........................................................................................................8
Illustration 3: Ansoff matrix..........................................................................................................11

INTRODUCTION
Business strategy is considered as strategic implementation of well-defined business plan
that leads to success of business firms and helps to attain specific business objectives and goals.
Basically, clarifies the ways through which an organization will be able to survive in competitive
business environment (Hood and Birkinshaw, 2016). It is significant for firm to overcome from
the negative impact of external environmental factors in market that affects the business position.
Producing a well-defined business plan is one of major activities of management. In present
report, in order to get an investment for the dragon den BBC, an effective business plan has been
discussed which clarifies the vision, mission, objectives and core competencies of organization.
Moreover, some most important factors are also explained in this assignment which are needed
for firm or personnel to recognise before development of strategic business plan ( Lienert,
Schnetzer and Ingold, 2013). Apart from this, case of Volkswagen is also analysed in this report
to understand various challenges faced by them in sustaining their business in competitive
business environment. Various internal and external factors are also discussed, to analyse their
impact on business operations of Volkswagen. At last, SMART objectives of firm are discussed
to recognised their contribution in successful implementation of business strategy.
TASK 1
1.1 Evaluation of business vision, mission, objectives and core competencies to
inform strategic planning.
In order to establish a new business, it is essential for entrepreneurs or individual to
develop strategic business planning through which it will be able to convince its stakeholders or
organizations and achieve resources required to meet those strategic plans. Strategic planning is
mainly considered as process that demonstrate organisational policies, ways and allocation of
resources to meet strategic business objectives (Kent and Zunker, 2015). In the present scenario,
effective business plan has been discussed to the staff before pitching for the investment in front
Dragon den BBC. It involves some specific and major components and without them it is not
possible to prepare a complete strategic planning such as:
 Mission: It is considered as basic aim of enterprise which describes why it exists and also
describe its actions to meet its vision. This statement is very important for organisation as
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it inspires employees to work make a coordination and make their focus on achievement
of company's vision. For example: A mission of retail enterprise is “to provide unique
and fashionable brand products in order to satisfy the customers' demand and
achievement of market share to become a leader in fashion retail industry”.
 Vision: It is considered as the outline of organization which clarifies its future desired
position in a particular industry or business. It also provides understanding about what the
firm wants to achieve in a specific time frame (Wæraas, 2015). For example: vision
statements of retail fashion brands are “to become a market leader by providing the
satisfaction to customers by accomplishing their demand and achieve the highest
probability in retail industry..
 Objectives: It is an end result which is the measure of progress which is required to meet
the targets of an organization. These are also considered as steps through which a
business enterprise will ultimately meet those business plans.
 Core competencies: It mainly provides competitive advantages over other companies to
sustain in competitive market situation. If any organization have competitiveness then it
is clear that it will able to sustain in their desire market. For example; The major abilities
of retails fashion brands are its quality of products, well developed marketing channels,
competitive prices, qualified employees and effective after sale services etc. It is
considered as essential element to gain success as it acts as cross functional process of
business.
 Thus, these major components will help them to influence the financial organization
Dragon den BBC to attain the resources required for accomplishment of business plan.
1.2 Analysis of the factors to be recognised to formulate strategic planning.
In competitive business environment, companies also have to face some challenges or
issues while formulation strategic business plan. There are some issues involved in strategic
planning and those issues must be resolved properly by setting priorities in terms of importance
and time. Sometimes it is difficult to achieve business objectives as there are some major issues
they have to face while implementation of policies and procedures (Norton, 2014). In this
context, for achievement of success in business plans there are some important factors that have
been discussed which the personnel or company have to analyse while accomplishment of
strategic planning such as:
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