Business Strategy: Strategic Planning, Factors, Techniques, Organizational Audit, Environmental Audit, Stakeholder Analysis, New Strategies

BUSINESS
STRATEGY

1.1 Strategic Planning
• Vision. Vision is basically the ability to see and in business terms vision is used for long run so that the particular company like Beach Break Live company that is a event
management company can survive for longer period in the market. Vision defines the ability of the company and their willingness towards achieving the success.
• The vision of Beach Break Lives is nery clear as they want to provide their best services in short period so that they can retain in the market and maximise their profit ratio.
Beach Break Lives is very clear with their vision that their first priority is their customers and then comes the rest. Vision is made for long period so that a company can
retain in the market and improves efficiency to take their organisation to another level and maximises the profit ratio.
• Mission. Mission and Vision are in separable because they cannot work individually. Mission and vision are like two sides of a coin as mission is very important to
complete a vision (Teece, 2010). Mission completes the vision as it has all planning treatises by implementing them as plan of action a company can achieve its goals on time
Beach Break Lives has a mission to achive efficiency in their operations by their professional work force by satisfying customers from the core so that they can recognition
in the market by their customers.
• They want to create unforgeable events for their customers so that they can hold their customers to at last. Beach Break Live has very definite mission to focus on their
customers and only on their work by giving priority to the preferences and choices so that they can provide best of their services in less time and money(Astrachan, 2010.).

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• Goals. Goals is one of the most important term in setting business as without goals business can't get established. Goals
defines the definite plan of action of the company as these includes what they want to achieve in what time and on which
level. Goals decides the future of the company as it decides its position in the market so goals is not a secondary as they
should be discussed before objectives.
• Beach Break Live is a event management company that's why it should set a goal for longer period by providing best or
excellence services to the customers and towards achieving great position in the market by generating more customers in
the market. Beach Break Live mostly prefers specific, measurable, achievable and time bond goals so that they can relate to
every thing in the market among the customers to achieve great position in the market after some years(Johnson, G., 2013.).

1.2 Factors considered for
formulating strategic plan
• Strength. This is the most and first discussed factors in strategic plan as it defines the ability and the quality of the services provided by the company
to their existing customers so that thy can retain in the market and match the market level by fighting competition to maximise efficiency and brings
effectiveness in the company. Beach Break Live show its strength through its customers because it has very strong network of customers and working
team all around the world. This company provides the best quality services to its customers in less time and in less pay.
• Weakness. Each and every company has some kind of weakness which leads them down in some way or the other. Beach Break Love
has only one weakness and that is its communication chain as communication chain defines the speed of the services that are providing by a
company.