Business Strategy Analysis and Implementation
Added on 2020-02-17
17 Pages4532 Words437 Views
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Vision, mission, goals, objectives and core competencies of business.................................11.2 Factors which are considered while making strategic plans.................................................21.3 Effectiveness of techniques for developing business plans..................................................3TASK 2............................................................................................................................................52.1 Strategic position of Volkswagen.........................................................................................52.2 Environmental audit of Volkswagen.....................................................................................62.3 Importance of stakeholder analysis at the time of new strategy...........................................72.4 New strategy for Volkswagen...............................................................................................8TASK 3 ...........................................................................................................................................83.1 Effectiveness of alternative strategies...................................................................................83.2 Justification for strategy selection.......................................................................................10TASK 4..........................................................................................................................................104.1 Responsibilities and roles of personnel...............................................................................104.2 Resource requirement for the implementation of new strategy..........................................114.3 Evaluation of SMART targets for achieving implementation of strategy..........................12CONCLUSION ............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONBusiness strategy is defined as one of the important concept in an organisation as itsupports a company to achieve various objectives and goals. It can be termed as a kind ofmanagement plan which has been used by an enterprise for attaining business objectives,strategic planning consist of distinct types of strategies in order to make sure long term growth ofbusiness (Ang, 2011). This report is based on the topic of strategy on the case study ofVolkswagen, an auto-mobile manufacturing company of Germany. In this report, goals,objectives, mission, vision and different factors influencing strategic plan will be analysed.Effectiveness of different techniques used for making plans, strategic position of a company,environment audit and selection of appropriate strategy used for achieving goals will also bedetermined. Business strategy is a set of different kinds of works which supports a company toachieve success in a market. TASK 1 1.1 Vision, mission, goals, objectives and core competencies of businessMission can be defined as a company's purpose statement and the reason for theirexistence in a market. It also defines abilities and facilities of a company. It tells about valuesand ideals which an organisation is pursuing in a short time period. It focuses on businessactivities and main value of a business (Burlton, 2015). VW also have a mission statement,which can be defined as: “To form long term strategic partnership with customers and to support them in creatingright choice in regards with their business needs, by decreasing fleet cost and giving worldclass service for customers.”Vision is defined as a statement which defines what company want to be in future. Ithelps in showing organisation its future directions and what needs to be done in future. Visionstatement is a type of inspiration for a company, when there no answer regarding problems. Itdefines way of doing things. Vision statement of VW can be defined as:“To focus on positioning and to be a global economic and environmental leader amongmanufacturers of auto-mobile.”Objectives and goals are defined as specific results which a system or person wants toachieve in a particular time frame and with the support of available resources (Champoux and1
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