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Developing Strategic Plans for Business

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Added on  2020-07-23

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Business Strategy INTRODUCTION 1 TASK 11 1.1 Formulation of strategic mission, vision, goals and core competency inform the strategic planning 1 1.2 Analysis of the factors that have to be considered when formulating strategic plans for business 2 1.3 Evaluation of the effectiveness of techniques which are used when developing strategic plans for business 3 TASK 25 2.1 Organisation audit for analysis of strategic positioning 5 2.2 Carry out an environment audit6 2.3 Significance of stakeholder analysis when formulating a new strategy 7 2.4 Present a new strategy for

Developing Strategic Plans for Business

   Added on 2020-07-23

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Business Strategy
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Formulation of strategic mission, vision, goals and core competency inform the strategicplanning.......................................................................................................................................11.2 Analysis of the factors that have to be considered when formulatingstrategic plans for business.........................................................................................................21.3 Evaluation of the effectiveness of techniques which are used whendeveloping strategic plans for business......................................................................................3TASK 2............................................................................................................................................52.1 Organisation audit for analysis of strategic positioning........................................................52.2 Carry out an environment audit.............................................................................................62.3 Significance of stakeholder analysis whenformulating a new strategy.........................................................................................................72.4 Present a new strategy for a company...................................................................................8TASK 3............................................................................................................................................83.1 Analysis of the appropriateness of alternative strategies related with M&S........................83.2 Justification of the strategy which is appropriate for business.............................................9TASK 4..........................................................................................................................................104.1 Assessment of the roles and responsibilities of personnel who arecharged with strategy implementation.....................................................................................104.2 Analysis of the estimated resource requirements for implementing a newstrategy for Honda....................................................................................................................104.3 Evaluation of the contribution from SMART targets to the achievementof strategy implementation.......................................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONFor any business it is necessary for them to formulate appropriate strategies throughwhich they can sustain at market for long term. It is helpful in growth and development of acompany (Acquaah, 2013). Every firm prepare their targets for long term purpose of a companyin which they can combine each and every factor which is appropriate for accomplish targets.This assignment is based on MacDonald, Marks and Spencer and Honda which are largestorganisations in their field. The reason behind this existence is preparation of appropriatestrategic planning in which all the mission, vision, goals, objectives and core competency isclearly defined. Moreover, company also formulate a plan in which they are going to prepare amapping for their stakeholders and conduct an audit for analysing the environment. Moreover,company also have to prepare some alternative plan for any difficult time. This aid them inmanaging their activities. All three companies have to adopt appropriate strategy which is helpfulfor them in their long term. This work get done through senior management of a company. TASK 11.1 Formulation of strategic mission, vision, goals and core competency inform the strategicplanningFor every company it is necessary for them to formulate strategic plan through whichthey can sustain at market for long term. For this, active participation for a company is must. Itused to assist in working in appropriate manner. Strategic planning is a process which adopt by acompany in defining their strategy or direction in which whole business is going to commencedand allocate resources according to requirement of strategy implementation (vision statement,2017). It is completely based on setting priorities for a business and choose appropriate energyfor that. In this context, mission, vision, goals, objectives and core competency will lead todescribed (objective, 2017). Every industry and business have distinct strategic planning whichleads to get done in more adequate manner. Key wordsDefinition Example MissionIt is a written statement oforganisational purpose andidentify the scope ofoperations. It leads to provideWe take pride in making a perfect pizza and providing courteous and helpful service on time all the time – Pizza 1
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