Business Strategy

This presentation provides an overview of business strategy and the process of developing a strategic business plan. It covers the importance of mission, vision, objectives, and goals in strategic planning. It also discusses the factors to consider and techniques to use when formulating a strategic plan.

Business Strategy
[Strategic business plan]

Table of Content
Points discuss in presentation
Introduction
Business mission, vision, objectives, goals and core competencies inform
strategic planning
Factors considered when formulating strategic plan
Techniques which used in developing strategic business plan
Conclusion
References

Introduction
Business strategy is a written document which helps to
organisation to set their direction of working time by time. This
presentation is based on the mission, vision, objectives and
goals of entrepreneurs on which they can get financial help from
the producers of Dragon den.

Business mission, vision, objectives, goals
and core competencies inform strategic
planning
Mission and vision of an organisation can be considered as the main
reason of existence of a company. All of their policies have either
direct or indirect connection with their goals and objectives.
Mission: Volkswagen group want to create a long term relationship
with their customers, they want to support them in making right
choice.
Vision: They want to keep their focus on brand so their can become
global leader in automotive industry.

Continued...
Goals and objectives: They are targetting to generate a sale of 10
million vehicle every year.
Core competency: Cited organisation offer wide range of products.

Factors considered when formulating
strategic plan
Cited organisation have to think about various elements at the time
of strategic planning. These factors have capacity to derail the
company from right track but at the same time they can help
them in earning huge amount of money. Some of the important
components are as follows:
Competition – Significant number of companies are operating in
automotive industry.
Industry – If something happens in industry than it affect all the
companies who are operating in this sector

Continued...
Strength and weakness – Every enterprise has some strength, if
they find them in appropriate time than it can assist them in
achieving their objectives.

Techniques which used in developing
strategic business plan
Various types of techniques for formation of business plan
is available for an organisation. They can ascertain their
need and choose appropriate tool according to their
understanding. Some of them are as follows:
 BCG matrix
 Ansoff matrix

Continued...
Star – In this scenario, an enterprise
has high share in a growing
market.
Cash cow – Sometime company face
a situation where they have high
share in a low growth market.
Dogs – In this case, an enterprise has
low market share in a low
growing marketing.
Question mark – In this situation, a
firm has low market share in a
growing market.

Continued...
Market penetration – In this plan, an
organisation sell their existing product
in existing marketing.
Marketing development – New market is
targeted by launching exiting product.
Product development – A new product is
launched in existing market in order
to attract customers and get some
competitive advantage on
competitors.
Diversification – New products are
introduced in completely new market.

Conclusion
Mission and objectives helps to organisation to determine their
workings as per attainment of objectives. It is essential for the
companies to define their objectives to employees which can
help to them to make a better change in their performance.

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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