Report on Busines Strategy of Volkswagen
Added on 2020-06-06
13 Pages4122 Words51 Views
BUSINESSSTRATEGY
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT...........................................................................................................................1TASK 2............................................................................................................................................12.1 Evaluating strategic position with the use of organizational audit.......................................12.2 Environmental audit for Volkswagen...................................................................................22.3 Value of the stakeholders in preparing of strategies.............................................................42.4 New strategy for Volkswagen...............................................................................................5TASK 3............................................................................................................................................63.1 Suitability of alternative strategies which are linked with market entry and growth...........63.2 Justification for selection of business strategy......................................................................6TASK 4............................................................................................................................................74.1 Roles & responsibilities of personnel in strategy implementation........................................74.2 Resources requirements for implementation of new strategy for VWAG............................74.3 Effort of SMART targets in business strategy......................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness strategy is reflected as plans and policies which are used by firms in order toachieve all their assigned goals and business objectives. All the activities of firms should bemonitored & controlled in order to ensure smooth functioning at work place. Strategy are usefultools for mangers as it helps them to make plans and policies in accordance with that allemployees will execute their working in order to achieve their targets. It is more beneficialprocess as it helps business in achieving consistency in all their business operations andresources are used economically so as to save them for future use (Astrachan, 2010).Volkswagen have designed effective business strategy in order to resolve all the issues that arefaced by customers in present business situation. Penalties are imposed by team responsible forprotecting environment in order control harmful gases that are eliminating from vehicles. Thisissue can easily be resolved with the help of various marketing strategy thus creating positiveimage in minds of customers. The undermentioned report studies about role of stakeholder informulation of business strategy, plans developed for establishment of new markets, varioustools which are related with retrenchment & growth in order to execute new strategy.TASK 1Covered in PPTTASK 22.1 Evaluating strategic position with the use of organizational auditEach and every business should focus on internal audits as it its beneficial in identifyingall risk factors so that business will not face any difficulty in their business operations. Firmshave focused on adopting various tools and techniques which are effective and helps business toachieve good results. The employees are given duties to monitor and keep records of all theactivities which are performed by them in order to achieve positive and healthy environment atwork places. They should make plans in order to build strong image among all the stakeholderwho are involved in business and performing business operations (Bharadwaj and et. al., 2013).SWOT analysis are useful useful tools which are adopted by all business in order toidentify their strengths and weaknesses. Volkswagen is analysing all those factors which arecreating difficulties for their business activities. The strong points are valuable in achievinggrowth and success for firms. Threats are helpful in designing back plans so that all the1
difficulties will be easily solved by applying measures to enhance performance of workers inincreasing productivity.Strength: Volkswagen had generated clear goals and business objectives in order toexpand their business outside the boundaries of nations. This helps them in earning higherprofitability and market shares. According to index data of past years there revenues areincreasing on continuous basis. There profitability factors are not so high but they are easilymanaging all their activities in effective ways. They are planning to develop and adopt socialmeasures in order to make their business grow.Weaknesses: Volkswagen are having bulk stock which are unsold and this greatly affectstheir pricing structures and disturbs their profitability and sales ratios. There are differentmarketing strategies which are affecting their pricing policies and this should be effectivelymonitored. They are not having effective marketing strategies then it results in not achievingcompetitive gains. As there is higher competition in economy so they have to formulate goodbusiness strategy in order to achieve growth.Opportunities: The selected business is having different chances in order to expand theirbusiness operations by making entry into different segments. Firms should develop thosebusiness strategy which are effectual for business in order to achieve growth and development.Various tools and techniques are adopted by which firms can easily expand their business andachieve success in their ventures (Campbell, Edgar and Stonehouse, 2011).Threats: There are various difficulties which are faced by business like changes intechnologies, modifications in trends of customers. This can be solved by developing effectivebusiness strategy in order to make plans according to technological advancement. They can facetough competition from rivalries who are operating in same business.Team management are helpful in order to carry out all business activities in planned andeffective ways. This helps in building strong coordination among all employees which results indevelopment of healthy working environment.2.2 Environmental audit for VolkswagenIn the year 2015 on 18 September there were difficulties which were faced by businesswhich had to be resolved like cars which were developed by them were eliminating out harmfulpollution from vehicles. The customers who have purchased the car were complaining about the2
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