Business Strategy [Strategic business plan].

Business Strategy
[Strategic business plan]

Table of Content
Points discuss in presentation Slide No.
Introduction 3
Business mission, vision, objectives, goals and core
competencies inform strategic planning
4
Factors considered when formulating strategic plan 6
Techniques which used in developing strategic
business plan
8
Conclusion 9
References 10

Introduction
A business plan which helps to achieve objectives within a time
period. Dragon Den is show which provides financial support to
entrepreneurs.

Business mission, vision, objectives, goals
and core competencies inform strategic
planning
Some points are here to describe how mission, vision informs
about strategic planning;
 Mission: It helps to provide a direction to enterprise.
 Vision: It shows a would be position of company after
particular time of period.

Continued...
 Objectives: It is desired outcomes which a company wants to
get.
 Goals: Specific points which determines business activities of
a company.
 Core competencies: Points which is a strength of company
can be core competencies

Factors considered when formulating
strategic plan
Some factors are here which considered before formulating a
strategic plan:
Engagement: It is related to employees which are involved in
implementation process.
Communication: It is essential for leaders and manager to make a
proper communication

Continued...
Innovation: It is essential for any company to make an innovative
business strategy to make a better placement of products.
Project management: It has to be accurate as per the needs of
company

Techniques which used in developing
strategic business plan
Some of the major techniques are here:
 SWOT analysis
 PESTLE analysis
 Nominal ranking

Conclusion
On the basis of this study it can be concluded that mission, vision
and core competencies are having huge significance in strategic
planning.

References
Bharadwaj, A. and et. al., 2013. Visions and voices on emerging
challenges in digital business strategy.
Campbell, D., Edgar, D. and Stonehouse, G., 2011. Business
strategy: an introduction. Palgrave Macmillan.
Chang, T.C. and Chuang, S.H., 2011. Performance implications of
knowledge management processes: Examining the roles of
infrastructure capability and business strategy. Expert systems
with applications. 38(5). pp.6170-6178.

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