Business Strategy: Process of Strategic Planning

This presentation explains the mission, vision, goals and objectives, core competencies of John motors and the factors considered while formulating strategies. It also discusses the effectiveness of techniques used in developing a strategic business plan.

Business strategy
(process of strategic planning)
Task

Table of contents
• Introduction
• Mission, vision, objectives informing strategic planning
• Factors that have to be considered when formulating
strategic plan
• Effectiveness of techniques used when developing
strategic business plan
• Referneces
1

Introduction
• This presentation is explaining the mission, vision, goals
and objectives, core competencies of John motors. The
factors that are considered while formulating strategies
are also explained here. BCG matrix is used in analysis of
stakeholders.
2

Mission, vision, objectives informing
strategic planning
• Mission: It is a basic aim of an organisations. It explains
why the company exists and it have to do to achieve its
vision. Mission statement is very essential for an
enterprise as this encourages workers to work in a team
and attaining the vision of company.
3

Cont..
• Vision : This explains future expectation of a company. It
also assist in identifying potential benefit and the growth
of corporation. Generally, vision statements are made on
the ground of long term goal of organisation and future
performance.
4

Cont..
• Goals and objectives: Goals and objectives are common
guidelines that an enterprise wishes to attain in certain
interval of time. The processes involved in achieving
goals are called objectives. They are short term schemes.
But the goals are something bigger than objectives. They
are commonly known as long term business plan.
5

Cont..
• Core competence: Core competencies are extra ordinary
skills that assist in making exceptional services or
products in comparison to their competitors. It also aids
in creating a brand image for workers and gaining their
blind trust on the business.
6

Factors that have to be considered when
formulating strategic plan
Strategic planning is the process via which an enterprise can
effectively defines its strategy and can make decision about
how the allocation of resources can be done in order to
pursue their strategies. It also guides so that strategies can be
effectively applied.
7

Cont..
There are commonly three factors that are focussed while
formulating strategic planning that are following:
• Industry
• The competition
• Strength and weaknesses
8

Effectiveness of techniques used when
developing strategic business plan
BCG matrix are used in order to develop the strategic
business plans. This matrix shows four types of situation that
John motors will face that are explained below:
• Stars
• Cash cows
• Dogs
• Question marks
9

Cont..
Disadvantages of BCG matrix are following:
• Success of enterprise cannot be indicated by only high
sharing of market. It also depends on several other
factors.
• It is very difficult to acquire information about the
growth and sharing of market.
10

Cont..
Advantages of BCG matrix are listed below:
• This matrix assist in understanding the corporation
where and when to invest.
• When to concentrate on new business as per the
determination of loss continuously
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References
Astrachan, J. H., 2010. Strategy in family business: Toward
a multidimensional research agenda. Journal of Family
Business Strategy. 1(1). pp.6-14.Burlton, R., 2010.
Delivering business strategy through process management.
In Handbook on Business Process Management 2 (pp. 5-37).
Springer Berlin Heidelberg.
Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business
strategy: an introduction. Palgrave Macmillan.
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THANK YOU
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