Strategic Planning: Missions, Objectives, Goals & Core Competencies

This report provides an overview of business strategy, emphasizing its importance in achieving organizational goals and sustaining a competitive advantage. It examines key components such as mission, vision, objectives, goals, and core competencies, illustrating how these elements guide strategic planning. The report further analyzes internal factors like employee skills, value systems, and stakeholder involvement, as well as external factors including political, social, and economic influences. Techniques like the BCG matrix and Porter's Five Forces are discussed as effective tools for developing strategic business plans. The report concludes that a well-defined business strategy is crucial for enhancing a company's overall performance and ensuring long-term success in the market.