Business Strategy for Desklib - Mission, Vision, Goals, Objectives, and Techniques for Developing Strategic Planning

BUSINESS STRATEGY

Task 1
a. The mission, vision, goals and objectives
MISSION
Dream or a picture to be achieved ultimately
VISION
Statement of the business
AIMS AND SMART OBJECTIVES
Results to be achieved.
S – Specific
M – Measurable
A – Achievable
R – Realistic
T – Timed
CORE COMPETENCIES
Competitive advantage & capabilities

b. For example:
Mark & Spencer Next Plc
Mission - to continue the work by
transforming the infrastructure and to focus
on consolidating their position as a leading
international and channelization in retailer
market.
Vision - to develop a world class talent
pool and further growing skills in key
strategic areas. To have a leading position
in the food market with more food stores.
Smart Objectives -
A more efficient sales process
Improving online shopping
Brand and customer satisfaction
Core competencies – it has the ability to
compete in retail sector because it has a
big support from its existing customer. It
has a tight hold on international food
market too.
Mission – to improve the product ranges
and compete the customers requirements.
Vision – to expand its business in
international market and serve the
customers their best products.
Smart objectives -
Improved customer services by hiring
skilled staff
Designing appealing products for its
customers.
Increase the profitable margins
Core competencies – Next plc is a leading
organization which covers the market of
home products on international grounds
with more than 200 stores.

TASK 2
a. Essential factors in business planning process
Framing a Time scale: Company should define its time duration that is needed to achieve the
targeted objective and goals.
Map a route: Company has to adopt a strategic action. Working as per the steps would certainly
lead to success.
Resources availability & requirement: Company should acquire the knowledge about the
resources available and required during working on the plan.
Present and Future condition: Organization's mission, values, principles and barriers helps in
proper generation of strategic plan. To attain the desired future position, an organization's
vision and targets should be specific, realistic and achievable in strategic plan.
Barriers: Identifying the barriers to the strategic plan would enhance the company's working.
Barrier plays a vital role in influencing the strategic plan from its way of achieving the
motives and goals

Other Factors to be considered are:
To start strategic planning – when a company suffers from the situations like low
productivity, profitability and less market growth. It should identify the factors like
reasons behind such result which may be old machinery, ineffective supply chain,
less responsive market, etc. for example M&S has modified it's supply chain in
Europe to overcome the needs of customer.
Persons to consult and involve during the process – They could be the stakeholders of
the organization which would provide better review/statement in order to bring the
changes.
Impact on managers - Factors like rising the efficiency, allocating more resources,
executing the operations, etc could affect the working condition of the mangers. For
example, Next plc has a focused its direction over expanding its business in
international business which is emphasizing pressure on its managers.
Influence on targets (e.g. sales, profits, market share) – factors to be considered in
order to maintain the level of achieving the targets are balancing the brand loyalty
and its name, rising the customer satisfaction, leading the market position, etc.