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Business Strategy Assignment Solutions (Doc)

   

Added on  2021-01-01

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Business Strategy
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Table of ContentsINTRODUCTION...........................................................................................................................11. Analysis of company's capabilities and its key success factor in market...............................12. Stakeholder theory to analyse major stakeholders of the business........................................53.Theoretical framework to access the company's culture..........................................................84.Strategy recommendation for future development of the organisation....................................9CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................14
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INTRODUCTIONBusiness strategy is the grand plan made by organisations to perform their activities andto achieve the goals (Business Strategy , 2018). It is a long term business planing and is related toissues like resources for the organisation (manpower resources as well as financial resources).Strategies are also help in planning about the scope of activities like what to produce, where toproduce and for whom to produce. Business strategy is divided into two i.e. Generic strategy andcompetitive strategy. Virgin group is taken as example to understand the concept of businessstrategy. It is a British multinational conglomerate venture founded in 1970, its headquarter is inLondon UK and is dealing in diversified products which include banking, books, commercialaviation, consumer electronics, internet, health care, films, radio, travel, retail, rail transport etc.Further in this report companies capabilities and its success will be discussed with the help ofVRIO model and stakeholder theory will also be critically analysed. At the end company'sculture will be discussed with the help of theoretical framework. 1. Analysis of company's capabilities and its key success factor in marketVRIO is a framework of business analysis which organisation uses for their strategicscheme (Nohria, 2017). It is used for analysing the internal procedure of business and alsoevaluate resource and capabilities of organisation. It consist of four questions value, rarity,inimitably and organization.Resources ValueRareImitationOrganisationAdvantageIntellectualpropertyrights, copyright andtrademark.Yes, it isvaluable to theVirgin groupbecause IPR,Trademark andCopyrights aredifferent ineveryorganisationwhich othersare notYes, IPR andtrademark arerare to everyorganisationso do theVirgin groupbecause it isnot made tocopy and it isunique. Success factorNo, imitationof IPR andtrademark isnot possible inVirgin Groupbecause it istheir personaland legalassets whichno one cancopy becauseYes, companyhave properresources andarrangement tokeep their IPRand trademarksafe. Theyhave secured itby doingpatent of theirintangibleIt providestrongcompetitiveadvantage tothe virginmobile. 1
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allowed tocopy. Itiscontributing inthe success oforganisationby improvingcompany'sgoodwill, it isacting as itskey successfactor. for theorganisation isthat it makeVirgin groupunique fromothers andhelp them incompeting inthe market. it is against thelaw. Itiscontributing inthe businessorganisationby providingthem anunique ordifferentidentity(Meckling,2015). assets. Brandpositioning incomparisontocompetitorsYes, it isvaluable to theVirgin groupbecause brandis the elementwhich helpthem inmakingthemselvesdifferent andsuccessfulfrom itscompetitors(Rosemannand vomBrocke,2015). ItisNo, is it notrare becauseothers are alsowant to reachthat level ofsuccess andposition. Yes, it isimitable byothercompaniesbecause theyalso want toreach to hatposition andfor thatcompetitorscan copy theVirgin groupand theirproducts. Theybring fakeproducts in themarket whichlower downYes, companyhas thoseresourceswhich canhelp them inmaintainingtheir brandimage in themarket. It providetemporarycompetitiveadvantage tothe VirginGroup. 2
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