Business Strategy

This presentation discusses the role of business strategy in achieving goals and objectives. It explores the factors to consider when developing a strategic plan and evaluates the effectiveness of techniques used in strategic business planning. The presentation also includes a case study on Hungry House, a company in the hotel industry.

Business Strategy

Content
The report will contain
Introduction
–1.1 Assessing the way Business Vision, mission and goals and
objectives inform strategic planning
–1.2 Analysing the factors that are required to be considered
when developing strategic plan
–1.3 Evaluating the effectiveness of techniques used when
developing strategic business plans
Conclusion

INTRODUCTION
Business strategy play major role in the growth of the firm. It
helps the entity in proper planning and directing the firm in right
direction that help them in achieving its goals and objectives. It
helps the firm in making right decision regarding the allocation
of the resources so that maximum use of it can be done.

1.1 Assessing the way Business Vision, mission and
goals and objectives inform strategic planning
Strategic Planning is refers to the procedure of deciding and
defining the strategies or tactics that are required to be executed
in order to achieve goals, objective and developing core
competencies. This procedure is largely impacted by the vision,
mission, and core competency of the firm. All these elements
have great impact on the business policies, procedures, business
plan etc. The policies, system and procedures are designed by
manager on the basis of the organisation goals and objectives

Hungry house is a company that deals in hotel industry. The
organisation provides premier online platform for takeaway and
food delivery. It has 9999 restaurants worldwide.
Vision of Hungry House: Hungry house has partnered with the
best takeaways across Britain so that customer can find and order
a delicious meal in minutes.

Vision
Vision is defined as the state that the business entity want to
achieve in the future. The vision of Hungry House is to generate
wealth for workers, their families, franchisers and business
partners. Their other vision is to continue ethical working and
developing a suitable growth model that is suitable to food sector.

Mission
Mission of the business entity is to deliver good quality food at
reasonable price. It other mission is to provide convenient, faster
services to its clients. The other mission of the organisation is to
develop its employees so that the firm can deliver effective,
quick and professional service to its clients.

Contd.
The objective of hungry house is same as other organisation that
are dealing in food industry. The purpose of Hungry house is to
generate high volume sales. The objective of the firm is to
develop new programme in order to replace their existing
solution to generate high income.

Contd.
Core competencies of Hungry House is that the company has expert
team of cooks and marketing team. The organisation also has
innovative technology that assist enterprise in preparing and delivery
tasty food to customers. Business entity has conduct effective
partnership with the reputed firms that has allowed organisation to
deliver quality food at reasonable price to consumer. This partnership
strategy has supported cited venture in gaining customer loyalty and
increase profitability. Unique culture has allowed business entity to
gain support from its member and achieve business goals as well as
objectives

1.2 Analysing the factors that are required to be
considered when developing strategic plan
The strategic factors are those important elements that business
entity require to considered in order to achieve success and foster
growth. The following are the elements that are important to be
considered when formulating strategic plan these are:

Vision and mission of the company-
Stakeholders-The stakeholders are those significant person who have direct
impact on business performance and great influence on decision, plans and
policies of firm. The important stakeholder of hungry house are managers,
workers, supplier, customers, partners and creditors. Stakeholders have various
expectation that has great impact on decision and strategic planning. This factor
has great influence on the objective of strategic planning and also on the
outcome that is generated by implementing the plan. The strategic plan should
consider the interest of each individual who are directly associated with
operational activities in organisation as this factor has great effect on business
performance.

Contd.
Environment-The organisational environment can be categorise
into two these are internal and external conditions. Both the
environment are required to be considered when developing
strategic planning. Analysing the internal factors assist manager
in identifying the strength and weakness of firm. Scanning the
external environment support manager in Planning the suitable
tactics in order to reduce the effect or influence of macro
environmental variables on business operations.

Contd.
Action plans-These are to be considered as this factor has great effect on the
outcome. These are closer to achieve the goals which helps fulfil the Business
objectives.
Resources: It is the basic requirement of any organisation that helps business
entity in achieving its strategic goals and objectives. The resources of the firm
are required to be allocated as per the output of the procedure. As lack of
resources can lead to ineffective strategic planning.
Defining the competitive advantage-It helps the manager in determining the
position that the company can achieve in relation to its competitors

1.3 Evaluating the effectiveness of techniques used
when developing strategic business plans
BCG matrix is the appropriate tool that can be used to measure the
effectiveness of Strategic business plan. It is a planning tool which
utilises graphical representation of organisation products and services.
BCG matrix is an effort to assist business entity in deciding what is
should keep, sell or invest in. It also supports manager in identifying
the condition or situation of the company. It aids manager in
developing plan and suitable tactics that can be used by enterprise for
solving various business issues and improving performance. BCG
matrix assist Hungry house manager in determining the level of
industry in terms of share and market value.

Contd.
It helps manager in formulating strategic business plans. The strategic
organisational plans are developed Buy considering the growth rate and current
situation of the industry in which the cited venture is operating. BCG matrix is
more concerned with determining the industrial growth along with the share of
organisation. It consists of four dimensions these are star, cash cow, dog and
question mark. Cash cow indicates the stagnant growth of industry but
favourable market share for Hungry House. Question mark demonstrate low
business share and slow industrial growth. Stars symbol indicates high
business and industrial growth rate. The dog symbol demonstrate slow
industrial and business growth

Contd.
The other technique is directional policy matrices that can be
used to measure the effectiveness of the technique used in
development of strategic business plans. The significance of this
tool is that t is a choice between two or more good operations. It
assists manager in deciding which field the firm should develop
tactics in order to achieve desired business goals and objectives

CONCLUSION
From the above report it can be concluded that the business
strategy play major role in attaining and achieving the goals of
the firm. It also help in determining the core values of the firm.

REFERENCES
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insights to both growth opportunities and organisational strategy in SME’s as part of a
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innovation.
Butler, D., 2012. Business development: a guide to small business strategy. Routledge.
Blackburn, R. A., Hart, M. and Wainwright, T., 2013. Small business performance:
business, strategy and owner-manager characteristics. Journal of small business and
enterprise development. 20(1). pp.8-27.