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Business Strategy - British Airways

   

Added on  2020-02-03

15 Pages4374 Words58 Views
Business Strategy

Table of ContentsINTRODUCTION...........................................................................................................................3TASK1 ............................................................................................................................................31.1 Evaluate how visions, missions, goals, objective and set competencies inform strategicalplanning..................................................................................................................................31.2 The factors that have to be considered when formulating strategic plans .......................41.3 Evaluate the effectiveness of techniques used when developing strategic business plans5TASK 2 ...........................................................................................................................................53.1 Select an appropriate future strategy for British Airways PLC and evaluate theeffectiveness...........................................................................................................................53.2 Analyze the appropriateness of alternative strategies......................................................6TASK 3 ...........................................................................................................................................74.1 The roles and responsibilities of personnel (HR) for implementing a specific strategy. .74.2 The estimated resource requirements for implementing a new strategy..........................84.3 The contribution of S.M.A.R.T targets to the achievement of strategy implementation8TASK4 ............................................................................................................................................9The strategic positioning of British Airways by carrying out an organizational audit..........9Environmental audit for British Airways.............................................................................11The significance of stakeholder analysis when formulating new strategy...........................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................15

INTRODUCTIONStrategies are formulated by the organizations so that they can attain their vision andmission in an efficient manner. Business strategies are related to the long term plan and practicesthat are used by the firm so that their overall growth can be improved. The executives have tofocused on the resources when they are implementing any plan so that competitiveness can beachieved (Scholes, 2015). Through these strategies, company will be able to fulfil the demand oftheir stakeholders so that their financial growth can be enhanced. The present report is based onBritish Airways which perform their operations in aviation industry. They are formulating theirplans so that they can increase the satisfaction level of their consumers. In this context, reportexplains the process of strategic plan and how some factors affect the performance of anenterprise. Along with this, it explains the approaches that are used to evaluate the strategies. TASK1 1.1 Evaluate how visions, missions, goals, objective and set competencies inform strategicalplanningStrategic planning is basically an activity of organisational administration which is usedto set high status, resources and energy, to strength operations and to make sure that employessand shareholders are working to achieve common goals (Rothaermel, 2015). There are varioustypes of visions, missions, goals, objective and set competencies are being used to achievestrategical planning. British Airways have five strategic goals to achieve like to be the firstchoice in airline for long wait premium customers, to deliver excellent services at every point, togrow presence in various cities, to stand on top in London, and to satisfy customers needs andmaintain margines by new stream of revenue. To achieve such goals, they have certain missions,visions and objective:-

Missions: British Airways always make sure that their customer should fly confidently toany destination and they ensure that together they will behave responsibly to take care in theworld they live in. This mission of them does not only represent that they are an Airlinesorganization but they are a dutiful corporate company (What Is Strategy and Why Is ItImportant?. 2017).Visions: There vision is to be the dutiful airlines in the world, that is responsible forcustomer needs, they want to be the indisputable ruler in the world, and be the esteem airlines infamous cities.Objectives: Main objective of British Airways is that they want their customers tochoose them again and again, wants to give premium and good quality services to eachcustomers and to be at the leading position in the airlines sector across the world (Higgins, Omerand Phillips, 2015).1.2 The factors that have to be considered when formulating strategic plans Success of any organization depends on the strategic plans that is made by the companybecause these plans take an organization towards a specific direction. Several factors thatdetermine the strategic plans of British Airways are :-Internal Factors:- These factors are those which are inside the organisation, they maybe culture of organisation, ethics, strategies and policies (Kourdi, 2015). These factorsmust be taken into consideration to form a successful strategic plan so as to achieve longand short term goals.Stakeholder:- The major stakeholders are managers, employees, customers, creditor,supplier, community and government. Each one of them have different expectation thatthat affect the business.External Factors:- These are those factors that are not controlled by organisation andthey are outside of it. These factors are like political, social, cultural and technological.Political Factors:- These are like government policies, laws that affect the organisationin one or other way, it may include various TAX policies, VAT, that are affecting BritishAirways.Economic Factor:- Economic factors are related to the countries wealth and the abilityof customer to buy products and services. This focuses on interest rate, consumer debt

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