Business Strategy: Strategic Planning, Core Competencies & Objectives

This presentation discusses the importance of business mission, vision, goals, and core competencies in strategic planning. It analyzes factors considered when making strategic plans, including market segmentation and strategic positioning. Techniques like benchmarking and share matrices are evaluated for their effectiveness in developing business strategies. The presentation concludes that setting clear objectives, goals, and understanding core competencies are crucial before formulating any new strategic plan. It also emphasizes that a business enterprise should use many techniques in developing strategic plans. Desklib offers a wealth of similar resources for students.

Business Strategy

Table of Content
 Introduction
 Business mission, vision, goals, core competencies
inform strategic planning
 Factors that have consider when making strategic plans
 Effectiveness of techniques used for developing business
 Conclusion
 References

Introduction
In this presentation mentioned
about the vision, mission,
goals and objectives at the
time of implementation of
strategic plans. There are some
factors that have considered
when making new strategic
plans and policies.

Business mission, vision, goals inform
strategic planning
Business strategy helps in increasing the growth and the
development of an organisation. The good strategy helps
in maintaining a positive working environment in
company. The Volkswagen is a large automotive business
firm and its aim is to enhancing the growth and the
profitability of a business firm.

Continued...
Vision
It means that what a company want
to do in future and what is the
future goals or objective of
business. The main vision of the
company is to be a leading
company in dance and event
sector across UK.

Factors that have consider when making
strategic plans
There are many factors which are necessary to including at
the time of introducing a new business strategy. The
priority of Swing Patrol is to teach better dance to every
person.

Continued...
 This Swing Patrol can be segment its market in to new
areas and from this it can target its new customers
easily but before segmentation, it is necessary for the
management of this business firm, is to formulating a
strategic plan.

Effectiveness of techniques used for
developing business
A business firm uses various techniques planning that can
be beneficial and effective for the formulating the
business strategic plans. The first technique is
Benchmarking and it helps business organisation to set
the large standards for itself and it can be helpful in
inspiring all the employees in an organisation.

Effectiveness of techniques used for
developing business
A business firm uses various techniques planning that can
be beneficial and effective for the formulating the
business strategic plans. The first technique is
Benchmarking and it helps business organisation to set
the large standards for itself and it can be helpful in
inspiring all the employees in an organisation.

Continued...
This matrix gives the data and information regarding the
positioning of its services at the market place. With the
help of its result, it will be easy to know about the current
performance of this business organisation and on the
basis of this, it can make some changes in its plans. This
share matrix is also helpful in supporting the components
of product mix.

Conclusion
It is concluded from the above presentation is that before
formulation or making any new strategic plan, then it is
necessary to set all the objective, goals, core
competencies and mission of business A business
enterprise use many techniques in developing strategic
plan.

References
Campbell, D., Edgar, D and Stonehouse, G., 2011. Business
strategy: an introduction. Palgrave Macmillan.
Peteraf, M., Gamble, J and Thompson Jr, A., 2014.
Essentials of strategic management: The quest for
competitive advantage. McGraw-Hill Education.

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