Small Business Strategy and Innovation

This assignment delves into the world of small business strategy. Students analyze various case studies that explore different approaches to strategic planning in small businesses. The focus is on how these businesses leverage innovation, adopt sustainable practices, and gain a competitive edge in their respective markets.

BUSINESS STRATEGY

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Business mission, vision, objectives, goals and core competencies which inform through
strategic planning.........................................................................................................................3
1.2 Analysis the factors which considering to formulating the strategic plan.............................4
1.3 Evaluates effectiveness of different techniques which is used to carry developing strategic
business plan................................................................................................................................5
TASK 2............................................................................................................................................6
2.1 Analysis the strategic position of VW AG with carrying organisational audit program.......6
2.2 Carry environment audit of VW AG.....................................................................................7
2.3 Significance of different stakeholders analysis with operating new strategy in VW AG.....8
2.4 New strategy for VW AG......................................................................................................9
TASK 3............................................................................................................................................9
3.1 Analysis the appropriate of alternative strategies..................................................................9
3.2 Justification of selection strategy.........................................................................................10
TASK 4..........................................................................................................................................10
4.1 Roles and responsibilities of different employee who change with implementing the
strategy.......................................................................................................................................10
4.2 Analysis the resources requirement for implementation of new strategy............................11
4.3 Evaluation of SMART objectives to carry implementation strategy...................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Business strategy is creating through development of the vision of each company. It
determines various activities which assist to grow operation and performance for development.
In this aspect, mission and vision is creating that demonstrate effective feature and performances
to dealing with various situation (Abdi Mussa, Dominic and Thamaraiselvan, 2013). With the
help of effective strategy and planning, the company can deal with formulation of business plan.
In this context, present report is based on VW AG which is determines plan in business strategic.
They are dealing in automobile industry to produce effective results and performances within the
business environment. In the present report, business strategic plan is carrying on Dragon den
BBC TV show which determines effective results and performances with implementing strategy.
In this context, report is covers mission, vision, objectives and goals of the company to formulate
ideas. Furthermore, it includes factors which creating impact on the outcomes and results of the
enterprise.
TASK 1
1.1 Business mission, vision, objectives, goals and core competencies which inform through
strategic planning
Mission
Mission is determining with different set of purposes that assist to maintain operations of
the company which enhance revenue and profits of Neil Westwood’s Magic Whiteboard. In this
aspect, the company can easily make smooth functioning and growth in effective way. They have
different mission such as creating value for each customer of the chosen firm, maintains loyalty
in the enterprise and enhancing market share at workplace (Oelze, Hoejmose and Millington,
2014).
Vision
Vision is also maintains things that helpful to attain future results. It is also helpful to
make sure that targets and growth in effective parameter. There are certain vision is creating to
make sure that overall targets can be attains. It includes getting most valuable customers and
staff member so that they can attain growth. They are also wants to includes innovative products
and services within the business environment which make sure that overall targets can be attain
(Abdi Mussa, Dominic and Thamaraiselvan, 2013).

Objectives and goals
In Neil Westwood’s Magic Whiteboard, goals and objectives are determining effective
results and performances to make proper guidelines. They posses effective goals and objective
such as make successful brand and operations and development of the organisation services
(Roloff, Aßländer and Zamantili Nayir, 2015).
Core competencies
Core competencies are also assist to enhance skills and knowledge that is require perform
various operations. Successful outcomes can be attain in easy way that make effective brand
image of the enterprise to achieve goals and objectives.
1.2 Analysis the factors which considering to formulating the strategic plan
Strategic planning is making effective process that demonstrates strategy which assists to
carry decision. In this way, the organisation can carry different resources to proper allocation for
pursue the plan (Human, Clark and Eustis, 2015). In Neil Westwood’s Magic Whiteboard,
direction can be also given in effective way that assists to grow outcomes and results to provide
effective results. There are certain factors included which create impact to formulate the plan:
Industry
In the important element which make effective results and program to ascertain the
positive outcomes. With the help of proper functioning, organisational performances can easily
operate their functions in systematic way (Roloff, Aßländer and Zamantili Nayir, 2015). Changes
are also determines as the factor which create impact in Neil Westwood’s Magic Whiteboard.
Competition
Analysis of the competition factors are also determines which create impact on
formulation of business plan and objectives. In this aspect, the chosen firm is unable to develop
their performances in the competition market. Thus, it is important to make sure that overall
productivity will be enhance in effective aspect. Neil Westwood’s Magic Whiteboard make their
product and services ahead from other businesses which assist to make proper functioning in the
business environment (Abdi Mussa, Dominic and Thamaraiselvan, 2013).
Strength and weaknesses
Strength and weaknesses are also determining effective results and performances within
the company to make sure effective results. In this aspect, formulation of business plan is
creating impact to analysis the strength and weaknesses at workplace. In this way, the company

can easily attain high market share through performing different activities. Beside this,
weaknesses is also creating negative impact on the firm and reducing loopholes which need to be
undertake for positive requirement (Roloff, Aßländer and Zamantili Nayir, 2015).
1.3 Evaluates effectiveness of different techniques which is used to carry developing strategic
business plan
There are different types of techniques which assist to make effective functioning in Neil
Westwood’s Magic Whiteboard. They are as follows:
BCG matrix
This matrix can be explains in the following terms:
 Stars: It indicates growth of the company in effective way which assists to create effective
results and performances. In this aspect, market share of the company can be enhances
which make profitability and positive outcomes within the business environment (Human,
Clark and Eustis, 2015). As results, Neil Westwood’s Magic Whiteboard can make effective
functioning.
 Cash cows: Cash cows indicate low growth of the company which reduce goals and
objectives in easy aspect. In this aspect, Neil Westwood’s Magic Whiteboard also facing
that low growth of the company. Thus, they are unable to give proper responses towards the
customers queries. As results, they are also unable to expand their operations and
performances to make effective results at workplace (Oelze, Hoejmose and Millington,
2014).
 Dog: It shows that low growth and market share of the enterprise due to unnecessary
elements. Hence, it is important to reduce unnecessary cost which creates negative impact
on the business operations. As results, the company is also able to develops solutions with
enhance profits (Abdi Mussa, Dominic and Thamaraiselvan, 2013).
 Question marks: It determines high growth of Neil Westwood’s Magic Whiteboard which
assists to make concentration on enhancing profits and revenue at workplace. It assists to
create different outcomes in various places. With ascertaining the risk element, business can
also perform in better way through creating advantages (Roloff, Aßländer and Zamantili
Nayir, 2015).
Marketing strategy

In this aspect, marketing strategy assists to maintain sustainability and attains competitive
advantages (Ward, 2016). This is because; there are different types of policies and rules are
determines for Neil Westwood’s Magic Whiteboard which includes following facts:
 Production method and organizational structure
 Different types of operational activities
 Competitive position of the enterprise
 Strategic development program
 Business and natural environment of the company
 Budget which is requires for operating functions (Cavusgil, Knight and Rose, 2014).
TASK 2
2.1 Analysis the strategic position of VW AG with carrying organisational audit program
In the VW AG, organisational audit is carry through demonstrate effective results and
programs with SWOT analysis. in this aspect, strength and weaknesses of the company can be
measure at workplace which assist to grow effective outcomes and performances. further, it is
also creating external opportunity for making proper functioning to remove threats from the
business environment. It gives proper direction to the organisation to enhance their performances
and results in positive aspect (Ibarra, Partida and Aguilar, 2015). SWOT analysis of the chosen
business can be taken in the following context:
Strength
 In the UK market, VW AG is the largest automobile industry which makes effective results
in the environment.
 They are also determines different policies and regulations that assist to grow effectiveness
of the company in positive aspect.
 The firm is determines high price of product and services which create effective impact on
products and services quality (Johnston and Bate, 2013).
Weaknesses
 VW AG is highly depends in different countries for raw material availability.
 Diversification of the company is very poor which create negative impact on the business
and its performances.

 Transportation cost of the company is too high which create negative impact on the
customer (Kim, 2014).
Opportunity
 VW AG has opportunity to expansion there business in different areas.
 Online sales are also promoting the productivity and outcomes within the enterprise. In this
aspect, the chosen firm has opportunity make attain high price for effective products and
services.
 Making qualitative products and also enhance productivity of the company which ensure
effective results at workplace to demonstrate effective results (Werbach, 2013).
Threats
 VW AG is also possesses risk factor which create negative impact on their performances to
determines effective results.
 With increasing unemployment in the environment can also generate problem to make
effective performances (Coltman, Tallon and Queiroz, 2015).
 Reducing of the income can also make negative impact on investment which made by VW
AG.
2.2 Carry environment audit of VW AG
In respect to carry environment audit of VW AG, following factors can be ascertain within
the business environment:
Political factors
VW AG is operating their functions in international market which creating effective
results and performances at workplace. Global political rules and regulations are creating high
impact on the chosen firm due to high taxes and other elements. However, various nations also
give opportunity to enhance market share (Oelze, Hoejmose and Millington, 2014).
Economic factors
Economic factors including demand, changes in currency exchange rates and currency as
well. These all elements are creating effective impact on the business and its performances to
determine profitability at workplace (Abdi Mussa, Dominic and Thamaraiselvan, 2013).
Slowdown condition of the UK market is creating impact on VW AG.
Social factors

Some times customers change their taste, preferences and many other elements which
need to be carry for assess the business results. There are various reasons which taken for
modifications in the customer taste (McGee and Shook, 2015). Behaviour and attitude of the
people is require to perform various functions and operations in effective.
Technological factors
In the UK technology is well developed which creating effective results and
performances to enhance results (Human, Clark and Eustis, 2015). Due to changes in market
trends, VW AG need to implements functions and operations that require to offers different
products and services.
Legal factors
Legal factors are comprises which develops performances of the business to demonstrate
different elements. performances of the chosen business can also improves through following all
policies and regulations of government to operate functions in international market. All laws and
other strategies frames by the government to creates effective results at workplace (Roloff,
Aßländer and Zamantili Nayir, 2015).
Environment factors
Main responsibility of VW AG is to protect the environment through operating different
functions and operations. In this aspect, it is important to take ethical and moral regulations that
are needed to perform effective functions within the enterprise (Litz and Stewart, 2015).
2.3 Significance of different stakeholders analysis with operating new strategy in VW AG
Stakeholders are demonstrating their performances and results to operate effective
functions in VW AG. In this context, there are different stakeholders are take place such as
customers, employees, government and suppliers, etc. (Auzair, Amiruddin and Maelah, 2013). It
will assist to grow effective information and results that are taken to creating positive aspect.
There are certain significance can be taken for different stakeholders at workplace which are as
follows:
Importance to formulate the strategy
 Get opinion and ideas from the different people.
 Highest support from the help of various people (Linder and Williander, 2015).
 Proper and effective communication with people to understand the strategy

There are certain steps can be taken at workplace which assists to grow effective results and
performances within the business environment. They are as follows:
Step 1
In this aspect, first step is need to be taken at workplace which assist to make business
performances in effective way. In this context, VW AG analysis their performances through
performing various activities and actions (Marchi, Maria and Micelli, 2013).
Step 2
In this step, the chosen company need to analysis their power and abilities that assist to
grow operations at workplace in effective way. With undertaking views from different
stakeholders, it has been assess that VW AG need to enhance their strength for attain positive
results. Furthermore, High power and low interest rates also need to capture the market as per the
business requirement (Taneja, Taneja and Hayek, 2016). Low interest rates take place to keep
effective information at workplace.
Step 3
It is the final step to analysis the good aspects within the cited firm. In this way, it has
been analysis that organisation and workers of VW AG are participate to attain positive results.
In this way, feedback from customers has been taken which assist to grow outcomes and
performances in effective manner (Roloff, Aßländer and Zamantili Nayir, 2015).
2.4 New strategy for VW AG
In order to adopt new strategy, VW AG can also create value and they are also focussing on
customer satisfaction with low cost products and services. In this way, they can attract various
customers within the organisation in effective way. Therefore, new product can also make by the
company to enhance their market share within the enterprise. it is also making profitability at
workplace for enhance the business performances (Abdi Mussa, Dominic and Thamaraiselvan,
2013).
TASK 3
3.1 Analysis the appropriate of alternative strategies
Following are certain alternatives strategies that can be used by the chosen firm:
Market entry strategy

In this strategy, business conduct development of the company that can be done through
enter in new area. As results, VW AG can make their operations and development programs in
new areas easily. In this way, they can take different element to enter in new area such as merger
and acquisition. In merger the company can make their operations with another business which
assist to grow outcomes and performances in easy way. In addition to this, loss and profit can
also share which demonstrate effective results at workplace. On the other hand, acquisition is
frame to take place with acquire the another business (Marchi, Maria and Micelli, 2013).
Substantive growth
In this types of strategy, VW AG can make their operations effective in term of related
diversification and unrelated diversification. In this related diversification existing product line
can be enhance within the market to develop effective results and performances. However,
unrelated diversification can be made with development the product line in new areas. As results,
the targets can be achieve in effective way for development of the organisation (Taneja, Taneja
and Hayek, 2016).
3.2 Justification of selection strategy
Main aim of VW AG is ascertain the effective results and performances through making
themselves as market leader. It will assist to grow operations and functions in effective way that
creating long term profits at workplace. For accomplish the mission and vision, the chosen
business need to perform their functions and operations with enter into new market. It will assist
to grow operations and performances as per the business requirement. Hence, it is the best
strategy which assist to grow outcomes and performances through targeting many people.
TASK 4
4.1 Roles and responsibilities of different employee who change with implementing the strategy
In respect to make effective results and performances, strategy implementation in require
to create positive view within the business environment. There are various elements which can
be undertake to attain goals and objectives. In VW AG, various types of employee are perform
their functions and operations in effective way through operations can be expanded. In this
aspect, the chosen firm has responsibility to assign responsibility and duty according to the
interest area and qualification of the people. As results, the company can easily make proper
functioning at workplace through deliver products and services. Further, at upper level,

employee has role to determines strategy on which other people can work. Therefore, the cited
firm will easily frame policy that ascertain for enhance their market share in different areas of the
world. With the help of focusing on each employee role, the organisation can also meet with
their targets and goals which assist to grow positive outcomes and performances in effective way
(Abdi Mussa, Dominic and Thamaraiselvan, 2013).
In addition to this, to frame the strategic planning employees of VW AG determines their
participation in the business as per the requirement. Accountant of the enterprise has role to
maintains proper records of financial transaction so that they can easily attain profitability at
workplace. with the help of monitoring and controlling the different activities, the cited firm
easily develop their functions and operations in new areas (Marchi, Maria and Micelli, 2013). As
results, they can make effective results and high profits through focusing on business operations
and performances. Moreover, proper and effective results are ascertain through developing
business activities that require to take roles and responsibilities as per the business requirement.
4.2 Analysis the resources requirement for implementation of new strategy
There are different types of resources are take place which assist to grow operations and
performances in effective way. Below are such factors which determine as the important
elements:
Human resources: Human resources are major key elements which determine their role to
ascertain effective profits and revenue at workplace. There are various elements in which the
company need to perform functions and operations with the help of employee. Hence, it creating
effective results to make profitability (Taneja, Taneja and Hayek, 2016). Employees of VW AG
giving their effective participation that assist to grow positive results and performances with
developing profitability.
Financial resources: Financial resources are another important element which consist to
purchasing raw material and many other essential requirement of the enterprise. In this aspect,
VW AG can easily perform their functions and operations in new areas. it will assist to enhance
revenue and profits of the business in systematic way (Marchi, Maria and Micelli, 2013).
Time and material resources: In order to implement every strategy, business need to perform
their functions and operations with time and many other material resources. thus, VW AG has
require for making the time that assist to grow operations and system in systematic way. Hence,
they can easily grow outcomes as per the business requirement resources.

4.3 Evaluation of SMART objectives to carry implementation strategy
SMART objectives consists various elements which assist to grow operations and
performances in effective way. It includes specific, measurement, achievable, realistic and time
frame objective. These elements are considering within the business environment as follows:
Specific
In order to attain effective results within the organisation, VW AG need to ascertain
specific objectives. The chosen business wants to enhance their profits and revenue with
development of the business in new areas.
Measurement
In this step, the cited firm need to develop their results and performances through
measurement of each objective at workplace. In this aspect, they have to make sure that
profitability can be develops in easy way that assist to grow effective operations and
performances within the business environment (Abdi Mussa, Dominic and Thamaraiselvan,
2013).
Achievable
However, the firm need to take roles for assess how much they have achieve goals and
objectives. In this aspect, they are determines effective results and performances that assist to
make proper functioning within the business environment.
Realistic
In this way, VW AG analysis that how much realistic are objectives and goals that assist
to grow operations and performances. Thus, they can enhance their share in effective way.
Time frame
For accomplish each objectives, the cited firm has responsibility to make time frame for
each activity. In this aspect, they can enhance their performances and results with developing
performances. In this aspect, enterprise frame time for ascertain each activity (Marchi, Maria and
Micelli, 2013).
CONCLUSION
From the above report, it can be concluded that strategy plan is very important element
which assist to grow operations and performances in effective way. In this aspect, report
summarized about the PESTLE analysis to conduct environment analysis at workplace.

Furthermore, it is also articulated about the internal environment analysis through SWOT
elements which assist to grow operations and performances in effective way.

REFERENCES
Books and Journals
Abdi Mussa, M., Dominic, P. D. D. and Thamaraiselvan, N., 2013. Aligning IT strategy with
business strategy for competitive advantage: a structural equation model. International
Journal of Business Excellence. 6(4). pp.425-447.
Auzair, S. M., Amiruddin, R. and Maelah, R., 2013. Linking business strategy to management
accounting. Jurnal Pengurusan. 37. pp.45-52.
Cavusgil, S. T., Knight, G. and Rose, E. L., 2014. International business. Pearson Australia.
Coltman, T., Tallon, P. and Queiroz, M., 2015. Strategic IT alignment: twenty-five years on.
Journal of Information Technology. 30(2). pp.91-100.
Human, S. E., Clark, T. and Eustis, A. C. S., 2015. Idea or prime opportunity? A framework for
evaluating business ideas for new and small ventures. Journal of Small Business Strategy.
15(1). pp.59-80.
Ibarra, L., Partida, A. and Aguilar, D., 2015. Electronic Commerce as a Business Strategy:
Impact in Consumption Habits in Hermosillo, Sonora's Inhabitants. Procedia-Social and
Behavioral Sciences. 175. pp.275-282.
Johnston, R. E. and Bate, J. D., 2013. The power of strategy innovation: a new way of linking
creativity and strategic planning to discover great business opportunities. AMACOM Div
American Mgmt Assn.
Kim, J., 2014. Platform business and network strategy. STI Policy Review. 5(1). pp.57-74.
Linder, M. and Williander, M., 2015. Circular business model innovation: inherent uncertainties.
Business Strategy and the Environment.
Litz, R. A. and Stewart, A. C., 2015. Where everybody knows your name: extraorganizational
clan-building as small firm strategy for home field advantage. Journal of Small Business
Strategy. 11(1). pp.1-13.
Marchi, V. D., Maria, E. D. and Micelli, S., 2013. Environmental strategies, upgrading and
competitive advantage in global value chains. Business strategy and the environment.
22(1). pp.62-72.
McGee, J. E. and Shook, C. L., 2015. Repsponding to Industry Consolidation in Fragmented
Industries: The Role of Capabilities in Small Business Survival. Journal of Small
Business Strategy. 11(2). pp.21-32.

Oelze, N., Hoejmose, S. U. and Millington, A., 2014. Sustainable development in supply chain
management: the role of organizational learning for policy implementation. Business
Strategy and the Environment.
Roloff, J., Aßländer, M. S. and Zamantili Nayir, D., 2015. The supplier perspective: forging
strong partnerships with buyers. Journal of Business Strategy. 36(1). pp.25-32.
Taneja, S., Taneja, S. and Hayek, M., 2016. Leaping innovation barriers to small business
longevity. Journal of Business Strategy. 37(3). pp.44-51.
Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth,
profitability, and family leadership. Springer.
Werbach, A., 2013. Strategy for sustainability: A business manifesto. Harvard Business Press.

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