Business Strategy

This presentation provides an overview of business strategy, including the importance of mission, vision, core competencies, and goals. It also discusses the factors to consider when formulating strategic plans and the effectiveness of techniques used in developing strategic business plans.

Business strategy
(Task 1)

Table of Content
 Introduction
 Mission, vision, core competencies and goals
 Factors that have to be considered when formulating plans
 Effectiveness of techniques used when developing strategic
business plans
 References

Introduction
Strategy is an art of the planning which designed to get long
term goals and objectives. an important tool for every organi
zation as it helps in achieving organizational goals and objec
tives. It is an effective medium to measure overall performa
nce of business because it define systematic process which u
se by the company to define their goals.

Mission, vision, core competencies and goals
Business strategy is an effective process of an organization to
evaluate effectiveness of the company in appropriate manner.
It helps in taking better decision regarding various business a
ctivities.

Continued...
Vision- It is a statement that define ability of the business organization to think about the fut
ure plan which company wants to achieve in coming time.

Continued...
Mission- It is the written statement which define the organizat
ion purpose and scope in effective manner.

Continued...
Core competencies: It is unique skills and quality of the co
mpany which is totally different from its competitors. This q
uality assist in providing better opportunity to capture larger
market share.

Continued...
Goals and objectives of the company: The main objective
of Jack & Jones is to achieve competitive position at global
market by making and providing innovative products to its
customers.
Use of new and innovative technology in auto mobile sectors
is also important for firm to get positive results in appropriate
manner.

Factors to be considerd when formulating
strategic plans
In todays business environment many factors which affect th
e strategic planning process but mainly there are two facto
rs are given below:
 Internal factors
 External factors

Continued...
Internal factors:
 Value system
 Capabilities as well as abilities of employees
 Stakeholders:

Continued...
External factors:
 Political factors
 Social factors
 Economic factors

Effectiveness of techniques used when
developing strategic business plans
BCG matrix: It is one of the best technique which is used b
y manager of the Jack & Jones to generate higher revenue in e
very year. It helps to manager in evaluating effectiveness of th
e business and its products which offer in market in fast speed.
 Stars
 Question marks
 Cash cows
 Dogs

Continued...
Porter's five force analysis:
 Bargaining power of suppliers
 Bargaining power of customers
 Threats of substitutes
 Threats of new entrants
 Industry rivalry

References
Twarowska, K. and Kąkol, M., 2013. International Business
Strategy-reasons and forms of expansion into foreign
markets. In Management, knowledge and learning
International conference (pp. P1005-1011).
Zolkiewski, J. M. and Feng, J., 2011. Relationship portfolios
and guanxi in Chinese business strategy. Journal of Business
& Industrial Marketing. 27(1). pp.16-28.

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