Missions, Visions, Objectives, and Core Competencies of Business

The presentation explains the missions, visions, objectives, and core competencies of BBC. It also discusses the factors to consider when developing strategic plans and evaluates the effectiveness of different methods used. References are provided.

BUSINESS
STRATEGY
Task

Table of contents
• Introduction
• Missions, visions, objectives, goals and core
competencies of business
• Factors that must considered at the time of developing
strategic plans
• Effectualness of methods used in developing strategic
business plans
• References
1

Introduction
The presentation is explaining the missions, visions,
objectives and core competencies of BBC. Here also the
factors that are considered at the time of formulating
strategies are described.
2

Missions, visions, objectives, goals and
core competencies of business
There are some important parts of business of BBC that
decides how strategies can be formulated described below:
Mission: It is nothing but a collection of purposes through
which corporate wishes to meet the expectation of its
stakeholders.
3

Cont
• Vision: Vision statement are describing the future
prospect of firm. It aids in recognizing actual or expected
profitability and expansion of organisation.
• Goals and objectives: Objectives simply refers to short
term schemes while goals are long term plans of an
enterprise.
4

Cont
• Core competencies: These are extraordinary ability and
attributes that is helpful in making the business prodigious
in relation to their competitors.
• The major competitors of BBC are CNN, Fox NEWS, Sky
NEWS, etc.
5

Factors that must considered at the time
of developing strategic plans
• Strategic planning is the process through which
corporation explains its strategies and make judgement
about how to collect its raw materials in order to examine
these strategies.
• There are commonly three factors that can be considered
in making plans for running business. They are following:
6

Cont
• The industry: At the time of strategy designing,
assessment of overall industry is very necessary. The
consideration of size of market, historical information and
current data regarding organisation, expected growth,
new entrance of market, profitability in relation to
competitors, threats, opportunities, etc. is very important.
7

Cont
• The competition: To analyse the positioning of
competitors have to be considered while making the
plans. This is because an enterprise can attain success or
become successful by knowing the nature or behaviour of
their competitors in the market.
8

Cont
• Strength and Weaknesses: Strength and weaknesses can
be analysed by doing SWOT analysis as this is very
critical in order to make strategies.
• weaknesses should also be visualise in order to diminish
that. Company have to make strategies to reduce their
weakness by improving their efficiency.
9

Effectualness of methods used in
developing strategic business plans
BCG growth share matrix can be used as a technique that is
used by BBC in developing its strategic plans. As per this,
company may face the following four types of conditions:
• Stars: This reflects full growth and broad market share.
This also take decision in growing their share in market.
10

Cont
• Cash cows: This shows low market growth but have
sustainable market share. In such condition, enterprise
might faces less expansion in market but at similar time
they attain a high sharing in market through which they
can earn more amount of money.
12

Cont
• Dog: It show less growth in marketplace as well as
reduced sharing in market. In such situations, firm
have to minimize their extra costs and make saving.
Managers should stop their business in the case where
they are receiving losses continuously and should start
a new business in place of that.
13

Cont
• Question marks: This reflects high growth but it give a
minimum share in market. This shows that some risks is
related with this as low level market indicates failure of
company. This occurs when new or fresh product is
introduced.
14

References
Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business
strategy: an introduction. Palgrave Macmillan.
Casadesus-Masanell, R. and Ricart, J. E., 2010. From
strategy to business models and onto tactics. Long range
planning. 43(2). pp.195-215.
Montgomery, C. A. ed., 2011. Resource-based and
evolutionary theories of the firm: towards a synthesis.
Springer Science & Business Media.
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THANK YOU
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