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Businesses Strategy Assignment - Volkswagen

   

Added on  2020-06-03

18 Pages5868 Words42 Views
BUSINESSES STRATEGY

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Explain various business vision, mission, goals, objectives and core competencies informstrategic planning when formulating strategic plan................................................................31.2 Explain factors which is very important in strategic formulation....................................41.3 Examine the effectiveness of techniques which is used in developing strategies plans. .5TASK 2............................................................................................................................................72.1 Explain the strategies positioning of given organisation by carrying out an organisationalaudit........................................................................................................................................72.2 Explain environmental audit for a given company...........................................................82.3 Explain the significance of stakeholders when formulating new strategy ....................102.4 Explain new business strategy........................................................................................11TASK 3 .........................................................................................................................................113.1 Explain various strategies related to retrenchment or limited growth, market entrysubstantive growth................................................................................................................113.2 Explain appropriate future strategy of Volkswagen.......................................................13TASK 4..........................................................................................................................................134.1 Explain roles and responsibilities of personnel needed for strategy implementation....134.2 Explain many resources required for implementation a new strategy...........................144.3 Explain smart objectives of VWAG ..............................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16

INTRODUCTIONEffective strategic planning is very important for any kind of organisation for achievetheir goals and objectives. Business strategy is play very important role in management planningbecause with use of these strategies a company can develop and improve their performance. Forattain success in future, enterprise is made various strategies. Apart from that there are manyinternal and external factors which directly and indirectly affect the operations and activities ofthe organisation(Moseley, 2017). To analyse the performance of the company it is important tomonitor these strategies. This report will discussed Volkswagen group which is the largest automobile enterprise in the world. Cited enterprise is manufacture various variety of cars andoperate their business activities approx more than 150 countries. This report will going todescribe vision, mission, competencies and objectives. Business strategies are help to overcomefrom financial difficulties which is faced by the enterprise. To understand the effectiveness ofvarious factors report will be describe SWOT and PESTLE analysis. Strategic plan is veryimportant for execution of strategic plan.TASK 11.1 Explain various business vision, mission, goals, objectives and core competencies informstrategic planning when formulating strategic planStrategic planning includes decide the policies and plans which is very important for fullfill the organisational objectives and targets. External and internal factors can also identified withthe helps of this planning.Mission: Decide the mission of the company is starting step to achieve the targets and goals.Employees can motivated and provide their full contribution towards improve and develop wholeorganisational performance. Vision is the based on the mission of the enterprise. Citedorganisation have mission to maintain their profitability level and give full satisfaction to thevarious customers situated in wide geographical area. Vision: It involves long term objectives and goals of the enterprise which have to be achieved infuture time period for getting success(Ireland, Hoskisson and Hitt, 2012). They also focuses onthe give profits to stakeholders which helps to create goodwill and brand image of the citedcompany. Success of the enterprise is depend on the effective vision creation which helps to fullfill the long term targets.

Goals: This includes organisational long term and short term goals which depend in therequirements of the company. Main goals of the cited enterprise is that give their best and qualityproducts and services and increase the probability level. It is like long term planing which needlots of time consumed(Chang, 2016). Goals are designed by the top level management and lowerlevel workers and employees helps to them accomplish these goals.Objectives: There are the difference between objectives and goals. Nature of objectives is thatthey are short term in nature and helps to attain the ultimate destination. Purpose of the citedenterprise is to give the motivation to every workers so they can increase the productivity andimprove performance. Core competencies: Cited company want to achieve competitive advantage and for this purposethey have to increase their core competencies. Volkswagen focuses on their competencies interms of product manufacturing, process, development and distribution facilities. These abilitiesof the organisation is helps to make brand image and goodwill in the market.1.2 Explain factors which is very important in strategic formulationThere are various factors which affect the strategic planning which have to be consideredby the cited organisation. Five phase which is play very important role to improve and developthe strategic planning are mentioned below:First step involves identify the SWOT analysis which play very important role tomaintain the good performance of cited company. There are many external and internal factorswhich affect the profitability and progress of the organisation. So it is important to analyse theinternal strength and weaknesses and opportunities and threats which are exists in the externalenvironment.Second stage to monitor strategic planning is includes PESTLE analysis. This includespolitical, legal, social, technological and environment etc. productivity and performance can beimproved by the identification of the these factors.The third stage is to identification of SWOT matrix which is very important for strategicplanning. These matrix is are divided in four parts such as S-O which consist Max max, S-Owhich describe Max min, W-T means min min and last is W-O which is min maxstrategy(Wheelen and Hunger, 2017).There are many tools and techniques which is used by the cited organisation to analysethe strategy planning. Many challenges is faced by the enterprise which arises from internal and

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