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BUSINESS STRATEGY TASK 1
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COVER CONTENT •Introduction Vision, mission, objectives, goals and core competencies Factors considered while formulating strategic plans Effectiveness of techniques while developing business plans Conclusion References
INTRODUCTION Business strategy is a set of activities which prepared to achieve its desired goals and objectives in a minimum time period. In fact schemesoforganizationsaresimplydefinedasalongterm planning for existing business for profit maximization.
Vision,mission,objectives,goalsandcore competencies Business strategies of Volkswagenare very useful in estimating future cost.Main motive of a strategic planning is to eliminate barriers which might be arise while achieving company target. Therefore it is very indispensable to understand the vision, mission, objectives and core competencies of an organization.
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Factors considered while formulating strategic plans Internal factor External factor Communication Innovation
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Effectivenessoftechniqueswhiledeveloping business plans Volkswagen adopted two useful techniques are mentioned below :- BCG matrix PIMS
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Conclusion By concluding this report its has been understood that business strategy is very much indispensable for attaining the desired goals. In fact it covers all the necessary factors which plays a vital role while understanding the vision, mission of an enterprise.
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References Agyapong, A. and Boamah, R. B., 2013. Business strategies and competitive advantage of family hotel businesses in Ghana: The role of strategic leadership.Journal of Applied Business Research. 29(2). p.531. Aithal, P. S., 2016. Study on ABCD analysis technique for business models, business strategies, operating concepts & business systems.Browser Download This Paper.