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Business Strategy Assignment - Hungryhouse

Assessment on understanding the process of strategic planning and formulating a new strategy for a given organization.

20 Pages5225 Words22 Views
   

Added on  2020-09-17

Business Strategy Assignment - Hungryhouse

Assessment on understanding the process of strategic planning and formulating a new strategy for a given organization.

   Added on 2020-09-17

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BUSINESS STRATEGY
Business Strategy Assignment - Hungryhouse_1
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INTRODUCTIONBusiness strategy is considered as planning for increasing its efficiency and solving outoccurred issue at the workplace. It is helpful for organisation's effectiveness and enhancingmarketability as well competitive advantages. The present report is based on understandingconcept of business strategy for allocating fund for Hungryhouse. It is food and accommodationservice provider of UK comes under Dragon Den's list. However, different strategies and factorsrequires to be considered for strategies can be described. In addition to this, good understandingcan be enhanced towards strategic planning to allocate adequate fund for the enterprise.Moreover, stages to be followed for goal accomplishment will be introduced through thisassignment. Likewise, various tools for environmental and business improvement for VW AGgroup which is world's largest automotive manufacturing company can also be explained. Thus,strategies and planning procedures for businesses can be introduced with the help of this reporteffectively.TASK 11.1 Goals, objectives and missions in strategic planning for HungryhouseAs per the given case scenario, it is recognised that Hungryhouse is planning forimproving its services and creating innovations in its food and accommodation services.Therefore, allocating adequate fund is main target of the enterprise which can be identified as:Mission statement:To be the best community for financing the different organisations and serve through thevarious channel to provide feasibility to the customers.Increasing productivity and profitabilityof the organisation at higher level which impacts on marketability and competitiveness as well.However, it views for establishing and maintaining relations with customers as satisfying themon large scale with its services. ObjectivesOn the basis of set mission, following objectives are set for Hungryhouse as mentionedbelow:To be committed with the soundness and safetyTo serve prompt, accurate and courteous services.1
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To make proper funding which is easy for the different association so that they can servetheir best values whenever, wherever and however they choose.Hungryhouse aims to increase number of customers and achieving their satisfaction with foodand accommodation effectively. Including this, it aims to enhance profit level and sustaining itsmarket position for longer time period.Strategies:Variety of decisions are made regarding business operations of Hungryhouse includingallocating fund, resources etc. In addition to this, all the action plans which are to be included inproject made for management of all activities effectively. Thus, for improving quality servicesand business operations, strategies are prepared for project and its completion efficiently.Strategic plans consist of different factors to be considered like; cost incurred on expenses, timeconsuming in business operation.1.2 Factors considered for strategic planningStrategic plans consist of different factors to be considered like; cost incurred onexpenses, time consuming in business operations, performance of workers in team work etc.these factors are required to be considered for Hungryhouse to allocate required fund andresources can be understood as follows:Cost:In this consideration, cost incurred on expenses for project are determined includingpurchasing material, labour cost, additional overhead costs and so on.It is one of the essentialfactor to be considered related with cost effectiveness and further business operations.Therefore, variety of ideas are generated for reducing expenses and increasing sales revenue ofthe organisation. Time frame: strategic planning is creating very effectively and systematically able foroptimum utilization of resources and fund. However, it is considered that using time framemethod is effective for formulating and implementing strategy for Hungryhouse and itseffectiveness. On the basis of analysing this factor, project can be succeed as wellaccomplishment of goals are possible to allocate fund.In this consideration for project, timeconsumed on each activity of the project is determined. For example; for identifying actualposition of the enterprise, consuming 2-3 weeks, for formulation, implementation and evaluation,2
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