Developing Effective Strategic Plans for Business Growth

Learn about the factors and techniques involved in developing an effective strategic plan for business growth. Understand the importance of mission, vision, objectives, goals, and core competencies in strategic planning. Explore the internal and external factors that need to be considered when formulating a strategic plan. Gain insights into the PESTEL analysis and its role in strategic planning.

INTRODUCTION
Every company make their business strategy. Business
strategy refers that strategies which help organisation to
manage organisation goal, mission, objectives and extend
business. A business strategy is derived for a specific
purpose to increase total productivity of organisation.
Company use strategic plan and theories to increase profit
and sale.

1.1 Mission, vision, objectives, goals and core
competencies
Strategic planning is a process which help in all sector to
complete any specific task. As TV serials and other
television program that kind of market strategy which help to
increase popularity of serial and people like to watch that
serial. .
Mission:- An organisation make their mission to complete in
a particular time. As Dragon den management make a
mission that they subscribed by 500 viewers in a week. It
can be a short term goal of TV series.

Continued
Vision:- Vision is the future statement of an organisation.
As Dragon Den serial decide about their vision for future.
TV serials make their vision to viewers. TV serials also
want to increase TRP on television. TRP is the rating
scale of any show. TRP describe about the television
rating performance of any serial.
Goal:- Goal describe about the long term achievement in
future. As Dragon Den serial make their goal to achieve
higher growth in TRP and increment in viewers. Goal
depend on the organisation work category and objectives
of organisation.

Continued
Objectives:- Objectives refer the process to achieve
organisation goal. It describe about points which have to
complete by organisation to achieve goal. As Dragon den
objective is make series on entrepreneur pitch their
business idea to secure investment finance and another
objective may be higher growth in series viewers.
Core Competencies: Some core competencies are
helpful to competitive advantage over their competitors.

1.2 Factors that considered when formulating
strategic plan
Strategic plan is necessary to every organisation and
helpful to achieve mission and objective of
organisation. Dragon Den also make their strategy to
increment viewers and channel subscription.

Continued
Internal factor:- Internal factor refer those factor which are
internally related by the organisation. Many internal factor
affect a strategic plan in organisation. As these internal factors
are cultural, core of ethics and other policies of organisation. As
Dragon den series make their episode on entrepreneur pitching
business idea. These factor can manipulate business strategy. So
company should manage their internal factors.
External Factor:- Many external factor are there which effect the
work of organisation. These factors are political, social,
economical, technological and socio cultural. As Dragon den
make their episode if that episode related with any culture issue
or any external factor so may be negative impact have to face
that episode. People do not like that episode and Dragon Den
loose their viewers.

PESTEL Analyses

1.3 Effectiveness techniques to develop strategic
plan
Every organisation need strategic plan to complete any specific
task. So company use strategic planning to implement any work.
Strategic planning is required to make effective business plan. As
Dragon Den make strategic plan to increment in viewers, fulfil the
choice of viewers, increment in TRP scale and many other things
which can increase the popularity of show. A series should be
connect with the human life and reliable thing which can be
tangible or intangible.

Continued
Star:- Star represent higher growth and higher market share. As
Dragon Den make episode and people give feedback on that
episode which is helpful to improve next episode concept.
Episode concept can increase and decrease viewers.
Question mark:- Question mark refers high growth rate but low
market share. As Dragon Den some episode are unable to get
people concentration but dragon den invest a lot of money on
the casting of episodes.

Continued
Cash cow:- Cash cow are refer that businesses which have low
market growth and high market share. These business can
survive in market and get higher achievement in growth of
business. As Dragon Den is most popular episode series.
Dragon den have big market share in most of the countries.
Dogs:- It show the negative impact on organisation. It refers that
organisation which invest a lot of money but does not get any
market growth or increment in market share. As Dragon den
face decrement in viewers where people are mostly uneducated.
Uneducated people are unable to understand the concept of
entrepreneur business idea.

References
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Burlton, R., 2010. Delivering business strategy through
process management. In Handbook on Business
Process Management 2 (pp. 5-37). Springer Berlin
Heidelberg.
Campbell, D., Edgar, D. and Stonehouse, G., 2011.
Business strategy: an introduction. Palgrave Macmillan.