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Business Strategy for Volkswagen

   

Added on  2020-06-05

11 Pages3003 Words231 Views
Business Strategy
Business Strategy for Volkswagen_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2 ...........................................................................................................................................12.1 Strategic positioning of Volkswagen ...............................................................................12.2 Environmental audit.........................................................................................................22.3 Significance of stakeholder analysis................................................................................32.4 New strategy.....................................................................................................................3TASK 3............................................................................................................................................43.1 Alternative strategies........................................................................................................43.2 Justification of strategy.....................................................................................................5TASK 4............................................................................................................................................54.1 Roles and responsibilities of personnel in strategy execution..........................................54.2 Resources required for implementation of strategy..........................................................64.3 Contribution of SMART targets during strategy implementation....................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONLong term planning of a business to achieve its desired objectives is known as businessstrategy. Basically, it is a summary of all actions like how company will achieve its objectives,meet the requirements of its customers, stakeholders and will get competitive advantages overothers. Further, business strategy gives an opportunity to the manager to evaluate profitability ofeach product’s sale by company which guides in expansion and reduction of product line.Volkswagen one of the larger manufacturer and retailer in automobile sector is also taken underthis report. Various factors which must be considered by an enterprise during formulation ofstrategic plans are all detailed in this report. Further, strategic positioning and environmentalaudit of Volkswagen is also mentioned here. TASK 1Covered in PPTTASK 2 2.1 Strategic positioning of Volkswagen Organisational audit is a process of evaluating various activities of firm to better satisfythe needs of its customers and to increase its market share. Main benefit of organisational audit isthat it gives information to manager regarding the capabilities of company. SWOT is an effectivetool which can be used by the managers of Volkswagen. Strengths: Specific skills of a company which make it different from its rivals is known as thestrength of company (Alsudiri, Al-Karaghouli and Eldabi, 2013). Effective application of these strengths help firm to achieve its target market easily.Following are the main strengths of Volkswagen:Firm use an effective or standard method to make products for its customers which helpin maintaining the quality. Operation of firm are expanded in number of areas which help firm to generate largeamount of revenues. Weaknesses: Increase number of competition. 1
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Lack of skills and ability of workers negative affect the effectiveness of businessoperations. Opportunities:Increase scope of technological products give an opportunity to firm to expand itsactivities in number of areas. Changing needs and wants of customers provide an opportunity to firm to add newfeatures in its product.Threats:Change in government and its policies create unnecessary hurdles in functioning ofbusiness. Increase number of competitors is one of the biggest threats for firm. With effective use of SWOT, Volkswagen can capture a better place in market. 2.2 Environmental auditProcess of identifying various elements exist in environment and its impact on businessactivities of a company is known as environmental audit. This guide manager of firm in decidefuture activities of business to achieve set results. For this, PESTLE is an approach which can beused by the managers of Volkswagen.Political factors: As firm is operating on an international level that's why Volkswagenface number of issues while execute its operations (Azar, 2011). Policies and rules ofgovernment of different countries affect the business activities of Volkswagen.Economic factors: Various elements relate with the economy of a country like interestrate, wage rate, inflation, deflation an many more affect the business activities of anenterprise. For example if banks of UK will increase the rate of interest on loan than thiswill create a hurdle in expansion business operation of Volkswagen.Social factors: This elements cover the factors related with the routine life of customerslike their habits, attitudes, behaviour and many more. All this affect the final purchaseprocess of customers. Technological factors: Technology play an essential role in automobile sector that's whyuse of updated technology for making make and offer products to customers is veryessential. 2
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