Business Strategy Assignment: Volkswagen

Added on - 06 Jun 2020

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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................3Task 1...............................................................................................................................................31.1 Business mission, vision, objectives, goal and competencies...............................................31.2 Factors considered while formulating strategic plan............................................................41.3 Effectiveness of the techniques used in the planning of business strategies........................5Task 2...............................................................................................................................................62.1 Strategic positioning of the Volkswagen group..................................................................62.2 Environmental audit of Volkswagen group..........................................................................72.3 Significance of stakeholders analysis to formulate strategy in the Volkswagen group........82.4 New business strategy for th e Volkswagen group...............................................................93.1 Appropriateness of Alternative Strategy for the Volkswagen group...................................93.2 Selection of Strategy for Volkswagen group......................................................................114.1 Roles and responsibilities of personal at Volkswagen group..............................................114.2 Estimation of the resources required to implement a new strategy....................................124.3 Contribution of SMART targets to achieve strategic implementation................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONBusiness strategy refers to the long term planning by a business to achieve the goals andobjectives. The planning of the organisation consist various important roles which helps theorganisation to enhance the profitability and productivity. It also includes missions, vision etc. toincrease the effectiveness in the functioning of the organisation. As the business strategies helpsin increasing the effectiveness within a business it helps it to achieve effective purposes andoutcomes (Alsudiri,Karaghouli and Eldabi,2013). The present report is based on Volkswagenwhich is a automotive industry and have international markets through developing properbusiness strategies. The report covers strategic position of the organisation which helps to gaininsight knowledge of the company. It also consists environmental audit to identify the impact ofmarket elements on the business in the areas of organisational function within the organisation(Annabi and McGann,2013).Task 11.1 Business mission, vision, objectives, goal and competenciesIn order to determine the strategic position of Skinny Tan by Kate cotton and LouiseFerguson the following are the Missions, vision, objectives, goal and competencies of thecompany -Mission – It refers to the set of purposes which are required to be accomplish forobtaining the results. It helps to increase the performance of the organisation insystematic manner which leads to increase in profitability of the company(Eaton andKilby,2015). There are three elements of Mission completion – Creating effective valueof each customer, Maintaining loyalty towards the organisational performance andIncreasing market share and program.Vision – vision of the company focuses on increasing the number of customer andemployees to achieve profitability and enhancing the services of the company to attractcustomers of various markets (García‐Rodríguez, García‐Rodríguez and Major, 2013).Objectives and goals – It refers to creating short term plans that can help the company toachieve the goals and objectives and to ascertain effective results and performances byproviding guidance to accomplish successful operations and results.
Competencies – Increasing brand performance and determining the skills and knowledgewhich are needed to perform the organisational functions and operations.1.2 Factors considered while formulating strategic planThere are various kinds of factors that are to be considered while formulating businessplan. These factors have a great impact on the strategic plan. Therefore, Skinny Tan has to makesure that the outcomes of the plan are effective for the business (Huarng and Mas Tur,2015). Thedifferent types of elements affecting the business plan are as follows -Industry – This element ave a major impact on the performance of the Skinny Tan. Theindustry in-order to increase the productivity create various business plans.Differentindustries have different kind of operations and due to this the plans are createdaccordingly to get more results and achieve their respective goals.Competition – Competition is the another element which influence the strategic plans ofthe organisation. There are many organisations in the market which are providing sameproducts as Skinny Tan, Many brands are available in the market so in order to competeto the other substitutes a company need to make such plans which can increase thereprofitability and value in the market.Environmental issues and Trends – There are many issues a company faces, Internal aswell as external. For example – Staff conflicts , natural hazards etc. These elementsaffects the functioning of the organisation and due to this the business plans areinfluenced (Olson,Duray and Olson,2016)Strength and weaknesses – Each and every organisation is aware of its strengths andweaknesses so make the best uses of their strengths and avoiding or removing theweaknesses the organisation formulate their business plans or strategies.1.3 Effectiveness of the techniques used in the planning of business strategiesIn order to develop a proper strategy in the Skinny Tan there are various techniques usedwhile planing any business strategy which helps the company get the best outcomes(BCG-matrix, 2017) The different types of techniques used are as follows -BCG matrix – There arevarious elements in this technique which create a impact on the development of a business plan -1. Stars – It determines the growth of the company, which refers to its productivity andprofitability. It is an important element to decide what is best for a company to achieve theobjectives and goals (Slack,2015). For example - Skinny Tan has achieved a great growth.
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