BUSINESS STRATAGE INTRODUCTION 1 TASK 11 Covered in PPT1 TASK 21 2.1 Preparing strategic position for Volkswagen4 TASK 35
Added on 2020-10-04
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BUSINESSSTRATEGY
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT...........................................................................................................................1TASK 2............................................................................................................................................12.1 Enhancing strategic position with assistance of organizational audit...................................12.2 Executing environmental audit for Volkswagen...................................................................22.3 Measures linked with stakeholders in preparing of strategies..............................................42.4 New strategy for Volkswagen...............................................................................................4TASK 3............................................................................................................................................53.1 Alternative strategies related to market entry, sustainable and limited growth....................53.2 Selection of strategy..............................................................................................................64.1 Roles and responsibilities of in strategy implementation.....................................................74.2 Resources requirements for implementation of new strategy for VWAG............................84.3 Effort of SMART targets in business strategy......................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness strategy is termed as plan of actions comprising of rules and regulations used byfirms in order to achieve their goals and assigned targets. The mangers should effective monitorand execute plans and policies in order to increase work effectiveness. Strategy is essential forevery as it direct employees works which had to be performed by them, tools they had to adoptin order to achieve effectual results. This is valuable task in order achieve assigned targets indesired time frame (Astrachan, 2010). Volkswagen have implemented various strategies at workplaces which are useful in solving problems that are faced by clients. There were heavy penaltiesimposed on them as they were having defects in their cars and they were eliminating out smokein large amount. Fine was executed as there products were destroying natural beauty as smokewere released from vehicles. All these problems can be solved by making strategies thus creatinghealthy work environment. The report comprises studies about various process which are used instrategic planning, planning and implementing new strategy at work place, various tools andtechniques for strategy evaluation and lastly choosing and implementing best and effectivebusiness strategy.TASK 1Covered in PPTTASK 22.1 Enhancing strategic position with assistance of organizational auditEvery business enterprise is focusing on monitoring and implementing plans in order toanalyse internal audits which helps in analysing difficulties that are faced during enterpriseoperations. Good and effective results which are useful for business can be achieved byformulating plans and strategies which are helpful in achievement of good results. Employees aregiven power to keep records of all the activities which are executed by them in order to achievehealthy relations with all persons who are involved in business activities. Various tools can beenacted in order to accomplish strong and valuable positions at work places and stakeholder cando effective business operations in order to accomplish success (Bharadwaj and et. al., 2013).Strength and weak points can be easily identified by conducting SWOT analysis.Volkswagen can frame strategies in order to evaluate all those factors which are acting asobstacles in their business performances. Strong elements are useful in achieving success foroverall business operations. Back up plans are used for threats that are faced by business1
operations in order to resolve issues in planned ways and it results in affecting performance ofworkers as they are not able to carry out their working in effective ways.Strength: They have a strong points as opportunities are gathered in order to expand theirbusiness operations and achieve growth at domestic and international levels. This results inearning high market shares and profit ratios (Woodcock, Green and Starkey, 2011). As per thedata which were gathered in past year revenues and profits of business are increasingcontinuously. All there operations are managed in effective waysinstead their profit are nothigh. Various social measures are adopted so that activities of business can be easily expanded.Weaknesses: There are some weak points in every business and Volkswagen are dealingin cars of they have stocks which are unsold as new technologies cars are developed so peopleare not willing to buy old cars. This greatly affects their business structures and pricing plans.Thus policies should be framed in order to monitor each business operations which are affectingtheir working (Campbell, Edgar and Stonehouse, 2011). Marketing strategies are very beneficialin order to achieve strong positions from their rivalry business. Plans should be developed toanalyse all current conditions in market and achieve strong competitive positions.Opportunities: Volkswagen can easily make entry into new segments so as to expandtheir business operations all around the globe. Plans should be made in order to develop effectivemarketing strategies which are useful in achieving growth and success in their ventures. Theycan make modifications in their existing models of cars in order to save cost on developing newmanufacturing process again. Threats: Each business is facing issues at their business operations like productivity isaffected because of up-gradation in technologies, changes in taste and preferences of customersetc. There is solution for this problem by making effective strategies by analysing changes inorder to attain higher profitability (Casadesus-Masanell and Ricart, 2010). Cars should be madewith advanced technologies in order to satisfy needs of clients thus increase in sales ratios. Plansshould be made in order to achieve higher profitability from their rivalry business.2.2 Executing environmental audit for VolkswagenThe business of Volkswagen have faced high difficulties in 2015 on 18 September as thecars which were developed by them were eliminating smoke in huge amount and it affectedhealth and environmental aspects. There was problem in their manufacturing process and no testwere done so this issue was not identified. As people purchased the cars and start using them2
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