Understanding Business Strategy: Mission, Vision, Objectives, and Core Competencies

Business Strategy
(Understand the process of strategic planning)
Task 1

Table of contents
• Introduction
• Business missions, visions,objectives and core
competencies
• Factors that have to be considered when formulating
strategic plans
• Effectiveness of techniques used when developing
strategic business plans
• References

Introduction
• This presentation is explaining about the business
mission, vision, objectives and core competencies. The
factors that are essential while formulating strategy are
also described. Additionally, effectiveness of BCG matrix
is explained that aids in formulating strategies.

Business missions, visions,objectives and
core competencies
• Missions statements are set of purposes that an enterprise
wishes to fulfil the expectation of their stakeholders. It
assist in recognising how business is running and
providing range of quality services and products to their
potential customers.