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BUSINESS STRATEGY INTRODUCTION 1 TASK 11 1.1 Formulating Strategic Plans of Azimo

   

Added on  2020-06-06

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BUSINESS STRATEGY
BUSINESS STRATEGY INTRODUCTION 1 TASK 11 1.1 Formulating Strategic Plans of Azimo_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Goals, objectives, core competencies, mission and vision statement of Azimo...................11.2 Components which should be reckoned while formulating new strategic plans..................11.3 Methods and their effectiveness which is used when developing strategic pans of firm......1TASK 2............................................................................................................................................12.1 Strategic position analysis by taking help of organisational audit........................................12.2 Environmental audit of organisation.....................................................................................32.3 Stakeholder analysis and its importance while formulating new strategy............................42.4 New strategy of business enterprise......................................................................................5TASK 3............................................................................................................................................53.1 Alternatives strategies which is interlinked with market entry, substantive growth, limitedgrowth or retrenchment...............................................................................................................53.2 Justification for selected strategy..........................................................................................6TASK 4............................................................................................................................................64.1 Roles and responsibilities of personnel which takes part in strategy implementation..........64.2 Resources required for implementing new strategy within work place................................74.3 SMART targets and its contribution in the achievement of strategy implementation in firm.....................................................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
BUSINESS STRATEGY INTRODUCTION 1 TASK 11 1.1 Formulating Strategic Plans of Azimo_2
INTRODUCTIONBusiness strategy is the managerial concept which provides right direction to company sothat it can accomplish its desired goals and objectives in a systematic manner. The mostimportant function of its manager is to make sure that he is developing new plans and proceduresto consider the business environment (Campbell, Edgar and Stonehouse, 2011). With the help ofeffective strategies, organization can lead to high level of success and achieve competitiveadvantage in marketplace. This report is focused on Volkswagen which is a multinational carmanufacturing company. In this report, different goals, objectives and core competencies ofAzimo has been determined which it wants to represent In front of dragons den. Some factorsand techniques has been evaluated which is highly import for implementing new strategy withinwork place. Apart from this, organisational and environmental audit has been conducted todetermine actual position of Volkswagen. Along with this different growth strategies has beendetermined which can be used by this company fro better growth (Connor and Lande, 2012).Different roles and responsibilities of personnel has been assessed which are charged in strategyimplementation. At last, contribution of SMART Targets has been evaluated in achievingstrategy implementation. TASK 11.1 Goals, objectives, core competencies, mission and vision statement of AzimoCovered in PPT1.2 Components which should be reckoned while formulating new strategic plansCovered in PPT1.3 Methods and their effectiveness which is used when developing strategic pans of firmCovered in PPTTASK 22.1 Strategic position analysis by taking help of organisational auditBusiness strategy is a pattern which guides organization in making those effective plansand procedures which can lead it to high level of growth and development. In present scenario,almost all companies are getting attracted towards new strategy formulation and implementationso that they can operate their business activities and practices in most effective and systematic1
BUSINESS STRATEGY INTRODUCTION 1 TASK 11 1.1 Formulating Strategic Plans of Azimo_3
manner. Business managers develop new strategies so that they can easily achieve their visionand mission. Also, it can help organization in surviving in market place for long time period andprovides its right guidelines so that it can grow and develop in appropriate manner (Kirkwood,and Walton, 2011).It is huge responsibility of managers to determine all the factors of business environmentand current position of company while implementing new strategy within market place.Volkswagen is one of the leading car manufacturer company which wants to implement a newstrategy in its work place so that it can achieve competitive advantage. Before implementing anew strategy or making changes in its existing workplace its manager needs to conduct itsorganisational audit so that they can determine all its strengths and weaknesses. They can takehelp of SWOT analysis to determine its actual position in market place. Strengths: This organization have great presence in all over the world. As, it operates in more than153 countries. It is known as largest organization in Germany, second largest in Chinaand third biggest organization in Brazil. It covers such big area of auto mobile industry. Its strength can be determined its hugenumber of workers which is approx around 600,000. This company gives core importance to its research and development departmentbecause it believes that it can enhance its profit level only by satisfying actual needs andwants of its customer. Weaknesses: This organisation have such poor position in India which is considered as well growingand developing market. Most of its car are not environment-friendly which influence a negative impact on itscorporate image (Huy, 2011). It face various problems because of its leading competitor Toyota. Opportunities:By taking help of new and highly developed technology it can improve its existingbusiness position and also can give tough competition to its various market competitors.By expanding its business into Indian market it can cover a huge number of marketshare. 2
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