Business Strategy Assignment | Volkswagen Company
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Added on 2019-12-18
Business Strategy Assignment | Volkswagen Company
Added on 2019-12-18
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Asses how business objectives and core competencies inform strategic planning whenformulating strategic plans.....................................................................................................11.2 Factors that have to be considered when formulating strategic plan................................21.3 Evaluate the effectiveness of techniques used when developing strategic business plans3TASK 2 ...........................................................................................................................................42.1 Analyse the strategic positioning of VW AG by carrying out an organizational audit....42.2 Environment audit for VW AG........................................................................................52.3 Assess the significance of stakeholder analysis...............................................................62.4 Present a new strategy for VW AG..................................................................................7TASK 3 ...........................................................................................................................................73.1 Analyse the appropriateness of alternative strategies related to market entry, substantivegrowth, limited growth and retrenchment..............................................................................73.2 Justify the selection of a strategy......................................................................................8TASK 4 ........................................................................................................................................84.1 Assess the roles and responsibilities of personnel who are charged with strategyimplementation.......................................................................................................................84.2 Analyse the estimated resources requirements for implementing a new strategy for VWAG..........................................................................................................................................94.3 Evaluate the contribution of SMART targets to the achievement of strategyimplementation.....................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................12
INTRODUCTIONBusiness strategies are related to practices which are performed by the organization tofulfil their objectives. Through these strategies, the firm will be able to accomplish their longterm goals that will lead towards the success. Through these strategies, companies will be able tosustain their competitive advantage and along with this they can improve their financial growthin the market (Scholes, 2015). Resources are important asset of the enterprise such asemployees, brand value, suppliers. Companies should follow strategies to manage all theactivities so that they can expand their business at the global level. The present report is based onVolkswagen which performs their operations in the automotive industry. The below mentionedreport is based on business strategy which explains the process of strategic planning and whatkind of techniques are used by the firm to develop the plan. Along with this, it also focuses ondifferent types of approaches used by the entity to evaluate the strategies. Further, it emphasizeson the SMART objectives can help the firm in implementing the strategic plans.TASK 11.1 Asses how business objectives and core competencies inform strategic planning whenformulating strategic plansVolkswagen is the automotive industry and they are planning to expand their business insome countries of United Kingdom so that they can create a strong base of the customers. Whenthe company makes a plan to implement their strategy then they focuses on the mission, vision,objectives, goals and their core competencies so that the plan can be implemented in an effectivemanner (Teece, 2010). The business plan can be presented to the Dragon den which is a TVshow. Through this, the enterprise will be able to get an opportunity to attract number ofinvestors. Mission: This is a kind of statement which is made by the business organization and thisshows their goals and targets. Along with this, it describes their purpose that why theyestablish their business and how they will achieve their vision (Godwin, Kalapana andValli, 2013). For example, the mission statement of Volkswagen is to make long termstrategies to improve their relations with the customers and provide them with qualityservices.
Vision: This depicts the future of the company that what they want and where they willoperate. This also identifies the potential benefits and growth of the company. Forexample, the vision statement of Volkswagen is to make the company more innovativeand offer services throughout the world. Goal and objectives: Organization set some objectives and goals to improve their growthand position in the market. Objectives are short term and goals are long term. Here, thegoal of the company is to expand the business in United Kingdom and attract morecustomers throughout the world. The objectives are to offer quality services to thecustomers so that their level of satisfaction can be increased. Core competencies: These are related to skills and special qualities of the businessorganization so that they can achieve competitive advantage in the market. Some of thecore competencies of Volkswagen are distribution, manufacturing process and so on.Through these they will be able to get success (What Is a Business Strategy?. 2017). 1.2 Factors that have to be considered when formulating strategic planAt the time of developing their plan then there are many factors which may affectstrategic planning of the company (Bharadwaj and et.al., 2013). Strategic planning is a processthat is used by Volkswagen to improve their growth. Some of the factors are as follows:Internal factors: These factors are related to the policies, culture and strategies of theorganization. When the firm develop their plan then they should focus on these factors so thatplan can be made in an efficient manner. Along with this, plan should be based on the values andbeliefs of Volkswagen. External factors: These are also known as the macro factors which are not in control ofthe organization. Some of the external factors are political, economical, social, technological,competitors and so on (Srdjevic, Bajcetic and Srdjevic, 2012). These are:Political factors are related to laws and policies that are made by the state government ofthe country. The manager has to make plan on the basis of rules and regulations so thatoverall performance can be improved. Economical factors are related to wealth of the country and this will also affect businessoperations of the firm due to unemployment, interest rate and so on. 2
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