Understanding the Process of Strategic Planning

This presentation provides an overview of the process of strategic planning and its significance in business strategy. It includes a case study on Exon Motors Ltd, an auto mobile modifier company, discussing its core competencies, vision, mission, goals, and the factors to be considered while formulating strategic plans. The effectiveness of various techniques used in formulating strategic business plans is also explored.

Business Strategy
(Understanding the process of strategic
planning)
Task 1

Table of Content
• Introduction
• Core competencies, vision, mission and goals
• Factors which should be considered while formulating
strategic plans
• Effectiveness of various techniques used while formulating
strategic business plans
• References

INTRODUCTION
 Business strategies can be referred as a set of activities by which company
reaches to its decided destination within stipulated period of time.
 This presentation is based on Exon Motors Ltd which is a auto mobile
modifier company.

Continued...
 It is established in 2014.
 It requires some funds for business expansion.
 It provides innovative and unique design of products or
services to their clients.

Core competencies, vision, mission and
goals
 Vision- Company wants to become
leader in auto mobile industry
 Mission- This statement states
about the reasons for the existence
of company. It wants to become
popular modifier firm in UK by
competing competitors.

Continued...
 Core competencies- It can be referred as a special
features or characteristics of company which makes it
different from its rivals. It helps in achieving
competitive advantages over its competitors. Its main
capability is to make innovative or unique products at
reasonable prices.

Continued...
 Goals- Its primary aim is to provide better quality of products
so that customer's needs or wants can be satisfied.
 Objectives- It has various objectives which are described
below-
 Build brand image as best modifier company in the
market.
 Deliver products or services as per expectation of clients.

Factors to be considered while
formulating strategic plan
Internal factors:
 Value system of the firm
 Employees
 Organisation culture

Factors to be considered while
formulating strategic plan
Internal factors:
 Value system of the firm
 Employees
 Organisation culture

Continued...
External factor
 Political- It is the most influential factor because VW
AG has to make their policy or strategy as per
government's norms otherwise it will create hindrance
in business activities.
 Economic factor- While making strategic plan,
management of VW AG should evaluate the economic
condition of country.

Effectiveness of used techniques in
formulating strategy
BCG matrix- It is helpful in doing long term strategic
planning that aids in evaluating growth opportunities
for business. It includes four elements that are given
below-
 Dogs
 Cash cow
 Star
 Question mark

Continued...
Ansoff matrix- It is another marketing
tool that helps in determining its
product and market growth related
strategy.
 Market penetration
 Product development
 Market development
 Diversification

References
Helms, M. M. and Whitesell, M., 2013. Transitioning to the embedded
librarian model and improving the senior capstone business strategy
course. The Journal of Academic Librarianship. 39(5). pp.401-413.
Kalyani, M. and Sahoo, M. P., 2011. Human resource strategy: A tool
of managing change for organizational excellence. International
Journal of Business and Management. 6(8). p.280.
Ozaki, R., 2011. Adopting sustainable innovation: what makes
consumers sign up to green electricity?. Business Strategy and the
Environment. 20(1). pp.1-17.

THANK YOU