Business Strategy Assignment- Doc
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Added on 2019-12-28
Business Strategy Assignment- Doc
Added on 2019-12-28
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BUSINESSSTRATEGY
Table of ContentsINTRODUCTION.....................................................................................................................................3TASK1........................................................................................................................................................31.1) Mission, vision goals, objectives core competencies inform strategic planning................................31.2) Factors considered in formulating strategic pans......................................................................41.3) Effectiveness of used techniques in strategic planning.............................................................5TASK2........................................................................................................................................................62.1 Analysing strategic positioning by organisational audit.............................................................62.2) Environmental audit of VW AG................................................................................................82.3) Significance of the stakeholders in the formulation of strategies.............................................92.4)New strategy of the organisation..............................................................................................10TASK3......................................................................................................................................................113.1) Appropriateness of the alternative strategies...........................................................................113.2) Justification of the selected strategies.....................................................................................11TASK4......................................................................................................................................................124.1) Roles and responsibilities of the related people in strategy implementation..........................124.2)Analysis of the estimated resources.........................................................................................124.3)Evaluating the contribution of SMART targets........................................................................13CONCLUSION........................................................................................................................................14REFERENCES.........................................................................................................................................15
INTRODUCTIONBusiness strategy is the model through which the organisation can be able to make the plans inwell defined manner to attain the objectives of it. It is a plan that is made for long term purpose by thefirm to enhance the performance and also to face the environmental factors that can impact theoperations of the firm. It is made as to grow the business and to develop an create awareness in themarket. Volkswagen is one of the leading auto-mobile industry in the current market (Astrachan, 2010).The car of it is listed inn the top ten best selling cars- Volkswagen Golf, Volkswagen Passat andVolkswagen Beetle, there are most sold vehicle of the firm. The firm has made number of strategies tosustain and to grow as well as to lead in the competitive market. The strategic management has themain role in the firms profitability and productivity.TASK 11.1) Mission, vision goals, objectives core competencies inform strategic planning.Strategy is the guide that are made by the organisation for log term perspectives to attain thegrowth and its survival. It is very essential for the organisation to be rational while making any kind ofplans and decisions related to the operations of the firm. What ever the strategies are made has to berelevant to objectives and goals of firm. There are certain aspects that help in making effectivestrategies they are as follows-1.Mission statement- It is a kind of a written statement which provides the basic and coreinformation related to the firm. It basically defines the core functions and how it has to carry outall its operations in upcoming years (Bharadwaj and et.al, 2013). Therefore it can be said asmission statement is the basic that defines why the organisation is existing in the market.2.Vision- This is also a written statement which defines the current position of the firm anddeclares where it has to reach in the future so that its objectives and goals can be attained asplanned. There are certain things that a vision statement contain in it, such as-It must contain a clear and accurate capability of the future position of the firm.It must be capable enough to allocate and function with all the available resources.It must be powerful so that the motivation of the manpower of the firm can beautomatically get generated.3.Core competencies- it is the core quality and techniques that differentiate the organisation fromthe other competitors of market. The USP of the business which help the firm to make its own
unique identity in the market.4.Goals- These are the plans that are of long term nature and as it get accomplished the purposeand the aims get completed (Burlton, 2010). It is almost similar to the objectives of firm.5.Objectives- These are the plans that are made for short period of time. The missions can getattained with the help of fulfilment of objectives.1.2) Factors considered in formulating strategic pans.The strategic planning is the most important factors of the firm as to attain the planned anddesired goals of it. There are many factors that are very essential in the organisation to formulate thestrategic plans for the firm to attain success and growth in market. These factors has to be considered asthey hep in making effective strategies for the firm. They are as follows-Managers- The organisational hierarchy has few levels, top level, middle level and lower level.The strategies are made by the top level management of the firm keeping in mind about thebusiness objectives and aims. The middle level management will delegate the roles andresponsibilities and at last the lower level management will set their individual targets to attainthe set strategies by the manager of top level.Delegation- it is the important factors in the concept of strategic planning as because the middlelevel management team will delegate the duties to their subordinates to perform the taskaccordingly. The duties and responsibilities are divided and allotted according to the skills andcapabilities of the employees and workers of the firm (Campbell, Edgar and Stonehouse, 2011).The delegation is depended upon the availability of the resources and this will help in theenhancement of productivity in the organisation.Strategic planning steps
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