(solved) Business Strategy Assignment
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Added on 2020-07-22
(solved) Business Strategy Assignment
Added on 2020-07-22
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BUSINESSSTRATGEY
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in PPT...........................................................................................................................1TASK 2............................................................................................................................................12.1 Organisational audit..............................................................................................................12.2 Environmental audit..............................................................................................................32.3 Significance of stakeholders' analysis...................................................................................42.4 Present a new strategy for Volkswagen................................................................................53.1 Appropriateness of alternative strategies relating to market entry........................................63.2 Justify the selection of strategy.............................................................................................74.1 Roles and responsibilities of a person who is charged in strategic implementation.............74.2 Resources requirement for implementing new strategy........................................................84.3 Contribution of SMART objectives......................................................................................9CONCLUSION ...............................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONBusiness strategy is the term which is used by managers to achieve desired outcomes. Itcan also be known as long term business planning, which is liable to resolve major issues of thefirm. In addition, effective business strategies are concerned with working activities andoperations; it also include effectively allocation of resources in order to gain high profitabilityand growth. It provides long term growth and prosperity to a company (Butler, 2012). Theproject report is based upon Volkswagen which is German auto marker. It was established in 28May 1937 and now serving its services all over the globe. The main aim of the company is tobecome a leading provider of sustainable mobility. Apart from this, the assignment will bediscuss those factors which are involved in formulation of strategic plans. There are describedvarious tools and techniques which are used in developing business plans and policies. Readerswill also came to know organisational and environmental audit. The report consists importanceof stakeholder analysis in order to understand their interests. Managers, employers, leaders,subordinates, CEO, directors have an important role in strategic implementation process withinworkplace. For this purpose, managers have to set SMART objectives in order to achieve marketgrowth for long term period. TASK 1Covered in PPTTASK 22.1 Organisational auditEffective measurement of each and every activity helps managers to find out needs andwants of potential customers. It also helps them to gain better outcomes. Therefore, the overallprocess is known as organisational audit. It helps managers in verifying company's strategies andpolicies. The audit gives an ideal map for core business processes so as to done all workingoperation in a systematic manner. If owners' of Volkswagen conduct organisational audit as theycan easily understand their strength, opportunities and weaknesses, threats that will impact uponbusiness activities and their operations. Therefore organisational audit consists with SWOTanalysis of the firm. So that, organisational audit of Volkswagen is stated as below: - STRENGTH Volkswagen brand portfolio is greatestWEAKNESSESIn this competitive environment, there1
between all auto mobile companies. Ithas its own 12 different brand ofvehicles. For example- Seat, Audi,Skoda, Bugatti etc. The company will introduced 30 brandnew electrical vehicles by 2025.Recently is has introduced its newmarket strategy - “TOGETHER 2025”.For that, its focuses on increasingprofitability and efficiency in targetmarket. Operations and activities in Volkswagenare fully managed which are helpful forit to achieve goals and objectives(Dandira, 2011). Volkswagen cars are highly technicaland innovative which shows thatcompany is more focused towardsmarketing research. is a intense competition of various carmanufactures. Through which marketshare of Volkswagen is also goesreduce. Little expertise and no emphasis uponmaking battery driven cars. Negative publicity of Volkswagen candecrease its market image orreputation. OPPORTUNITIESFuel prices will be rise, which isbeneficial for car manufacturers as theycan gain high profits and sales in targetmarket. Weak pound exchange rate as companyis not able to achieve its sales targets inUK. THREATS Strict government laws andregulations. Companies will have to pay variousfines if there products are harmful forenvironment (Elhamma and Zhang,2013). 2
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