BUSINESS STRATEGY TASK 1.

BUSINESS
STRATEGY
TASK 1

Covered content
• Introduction
• Business mission, vision, goals, objectives and core
competencies
• Factors which must be considered while formulating plan
• Effectiveness of techniques business need when developing
their plans
• References

Introduction
Business strategy assumes an exceptionally prominent role in
growth as well as development of each and every sort of
association. It is essential for employer to create an effective
plan, which will assist employee to achieve goals and targets in
an appropriate way. Along with this, it is a continuous procedure.

Business mission, vision, goals, objectives and
core competencies
An appropriate plan of firm plays an essential role to fulfil
mission, goals, vision, core competencies and so on. If association
create an effective strategy then it will assist them to decrease cost
of products as well as services.

Continued...
There are some business strategies which are related with
Volkswagen, are discussed as beneath:
• Mission
• Vision
• Goals and objectives
• Core competencies

Continued...
Manager of organisation has to implement business plan which
comprises various stages and in addition mission, vision,
objectives, goals and core competencies plays a prominent
role.
BASIS TIME PERIOD
Research 18 days
Identify aim of plan 6 days
Determine profile of organisation 4 days
Documentation 3 days
Choose appropriate strategic
marketing plan
5 days
Implementation and evaluation 12 days

Factors which must be considered while
formulating plan
Fundamental obligation of higher level authority is to create
strategic plan for enterprise. There are some factors which must be
taken into consideration by employer of Volkswagen, while they
are developing strategy for firm, are mentioned as beneath:
 Communication
 Innovation
 Culture

Effectiveness of techniques business need when
developing their plans
Volkswagen can develop some plans for their business, as it will
aid them to achieve goals and targets in an effective and efficient
manner. As per this, each and every cell has their own mean,
which are mentioned as below:
• Stars
• Cash cows
• Dog
• Question mark

References
• Godlevskaja, O., van Iwaarden, J. and van der Wiele, T.,
2011. Moving from product-based to service-based
business strategies: Services categorisation schemes for
the automotive industry. International Journal of Quality
& Reliability Management. 28(1). pp.62-94.
• Houdet, J., Trommetter, M. and Weber, J., 2012.
Understanding changes in business strategies regarding
biodiversity and ecosystem services. Ecological
Economics. 73. pp.37-46.

Thank You