Strategies for Building Business Relationships in Knowledge-Intensive Services
Added on 2019-12-28
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Business Strategy
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Assessing the elements to inform a strategic planning.........................................................11.2 Analysing factors to be considered while formulating strategic plans.................................21.3 Evaluating effectiveness of techniques to develop strategic business plans.........................4TASK 2............................................................................................................................................52.1 Analysing the strategic positioning of McDonald's by its organisational audit....................52.2 Carrying an environmental audit for McDonald's.................................................................72.3 Assessing the significance of stakeholder analysis while formulating a new strategy.........82.4 Presenting a new strategy for McDonald's............................................................................8TASK 3............................................................................................................................................93.1 Appropriateness of alternative strategies .............................................................................93.2 Justifying the selection of strategy......................................................................................10TASK 4..........................................................................................................................................114.1 Assessing the roles and responsibilities of personnels charged with strategicimplementation of plan.............................................................................................................114.2 Analysing the estimated resource requirement to implement a new strategy.....................124.3 Evaluating the concept of SMART targets.........................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14ILLUSTRATION INDEXIllustration 1: BCG matrix...............................................................................................................5
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INTRODUCTIONBusiness strategy is basically referred to the strategic management to execute certainrequisite activities into the organisation. It is an overall search operation of the firm where theyare primarily recommended analysing the existent state of their business. This is mainly to bringcertain mandatory alterations into it that significantly matches the upcoming changes into theirprevalent markets (Haley, Haley and Tan, 2012). It is however important for the firms toprimarily evaluate their recently ongoing functionalities by together scrutinizing any leadingmodifications into the market. Business strategies largely serves the entrepreneurs to handle thespecified arenas of their business which directly regards to the modernised aspects ofglobalisation. This is assumed to be amongst one of the main reason where the firms are facing arigorously challenging state of their business and hence requires a firmly planned strategy tofurther commence their major business activities into a rectified manner.The present report is to demonstrate the business strategies of McDonald's, where it isnotably executing its business activities at almost every corner of the world. It thence has arenowned recognition all over the globe as a steadily growing industry of fast food where it hascovered over 36, 525 number of locations till the year of 2015 (Markus and Loebbecke, 2013).With a foundation of almost 76 years, it is famously known to be the fastest chain of hamburgersand other varied products to appease the taste buds of the consumers of almost all age groups.TASK 11.1 Assessing the elements to inform a strategic planningBusiness missions and visions play a vital role into considering the future prospectives ofa business where it together defines the goals and objectives of the firm. However, it is yetanother crucial demand of certain aptly build core competencies that directly recommends for astrategic planning of business activities (Zaefarian, Henneberg and Naudé, 2013). Thus,McDonald's mission, vision, objectives and core competent fields are as discoursed below-Vision-McDonald's vision is directly referred to the modern aspect of technology wherethey want to become the chief leader into their respective food industry. It is where theyare implementing a mandatory inclusion of certain advanced technical approaches tohandle their critical operations. This primarily begins with the production of their foodproducts and ultimately with some contemporary methods of servicing their clients and1
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