Business Strategy

This presentation provides an overview of business strategy and its role in achieving a competitive edge. It focuses on Kirsty's, a company operating in the healthy ready to eat sector, and discusses its mission, vision, objectives, goals, and competencies. The presentation also covers factors to consider while formulating a strategic plan, effectiveness of techniques such as BCG Matrix and SPACE Analysis, and references for further reading.

Business Strategy
(TASK 1)

Table of Content
• Introduction
• 1.1 Business Mission, Vision, Objectives, Goals and
Competencies
• 1.2 Factors to be considered while formulating plan
• 1.3 Effectiveness of Techniques
• References

Introduction
Business strategy refers to a tool which is used by managers to attain a
competitive edge in the market.
It sets a path that can be followed by employees as to achieve different
goals and objectives in a efficient way.
This presentation is about a new company which is operating in a
healthy ready to eat sector. The name of organisation is Kirsty's.

1.1 Business Mission, Vision, Objectives,
Goals and Competencies
Kirsty's was established in 2013, the prime products sold by company
was healthy ice-creams which did not had any harmful chemical touch.
Aim: The company aims to enter into healthy staple food which is sold
in a form of ready to eat meals as to target current generation
requirements.

Cont.
The managers are responsible for aligning various elements as to gain
better market consistency:
Mission: The main mission of company is to modify the way meals are
sold in the market.
Vision: The company aims to become top player in UK market of
healthy ready to eat meals. It aims to perform various activities with a
aim of:
» Quality
» Standards

Cont...
Goals: The main goal of organisation is to serve people with
products that help them in living a healthy life.
Objectives: They state about how company will achieve its
goals:
• All the services are customer focused
• Innovation is integrated in conducting every process
• Duplication is avoided.

Cont...
Core Competencies: Kirsty's is focused on providing healthy meals to
people via different modes. It serves through restaurants, super stores
and canteens.
● Mainly concentrate over the quality of products and services.
● Use organic and eco-friendly ingredients
● Cost effective prices and effective quality
● Brand labelling development

1.2 Factors to be Considered while
Formulating Strategic Plan
There are different types of
factors that are analysed for
formulating an effective plan of
action. Basically there are two
type of environment which have
impact on organisation: Micro
and Macro.

Cont.
Micro Environment: It is controllable environment that can be
managed by changes in rules and polices of companies. They are
internal in nature and can be analysed easily. It has to be evaluated by
Using SWOT analysis of Kirsty's :

Cont..
Strengths
 Innovation
 Creativity
 Customisation of meals
 Healthy products, gluten free,
sugar free.
Weakness
 Intense competition is there in
market by similar companies.
 Limited market share growth due to
competition
Opportunities
 Developing long term
relationship with consumers
 Implementation of new idea's
Threats
 Innovative techniques used by
competitors
 Rise in cost of raw material

Cont.
Macro Environment: There are different types of external factors that
cant be controlled by company and to analyse them they have to use
PESTLE analysis:
Political:
• Government attitude towards business in food sectors can impact
business.
• Political stability can cause unrest which is threat for business.

Economic:
• Economic growth rate of
nation.
• Rate of unemployment
• inflation rate, interest rate and
monetary policy of banks.
• Consumer confidence in
government and organisation.
Cont...
Social:
• Income distribution between
different levels of society
• Mobility of labour in market
• Changes in Lifestyle and
preference of people

Cont...
Technological: There are different types of changes taking place in
technology such as, new innovation and inventions in food processing.
Cost of technology to company and other issues.
Legal and Environment: These two are separate issues but these days
different environmental laws are being formed as to reduce emissions
that harms environment. Focus on sustainability is is also increasing.

1.3 Effectiveness of Techniques
There are different tools that are used by managers as to analyse
effectiveness of methods used.
The two strategies used by Kirsty's are:
• BCG Matrix
• Space Analysis

Cont..
BCG Matrix: The company is able to categorise and manage all the
products in a effective manner with this matrix. It assist in portfolio and
investment management.

Cont..
SPACE Analysis: SPACE analysis is stated to be an technique that is
used by managers in Kirsty's to manage and plan future activities. It
assist in developing an idea that is feasible for business organisation.
Financial strengths: The Kirsty's is trying to boost its profitability by
4% in next one year.
Competitive advantage: Creative, strategic and flexible approach.

References
● Meskendahl, S., 2010. The influence of business strategy on project
portfolio management and its success—a conceptual framework.
International Journal of Project Management. 28(8). pp.807-
817.
● Mithas, S. and Lucas, H. C., 2010. What is your digital business
strategy?. IT professional. 12(6). pp.4-6.
● Montgomery, C. A. ed., 2011. Resource-based and evolutionary
theories of the firm: towards a synthesis. Springer Science &
Business Media.

Thank You