Importance of Goals and Objectives for Marketing Success
Added on 2020-06-06
13 Pages3900 Words61 Views
Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Business missions, vision, objectives, goals and core competencies helps in formulatingstrategic plans..............................................................................................................................1Covered in PPT...........................................................................................................................11.2 Factors should be considered while formulating strategic plans..........................................2Covered in PPT...........................................................................................................................21.3 Techniques used in developing strategic business plan........................................................2Covered in PPT...........................................................................................................................2TASK 2............................................................................................................................................22.1 Organisational audit for evaluating strategic position of company......................................22.2 Environmental audit of given organization...........................................................................32.3 Importance of stakeholders while formulating new business strategies...............................42.4 New strategy of organization................................................................................................6TASK 3............................................................................................................................................73.1 Strategies for market entry, substantive growth, limited growth and retrenchment.............73.2 Justification for selected strategy..........................................................................................7TASK 4............................................................................................................................................84.1 Roles and responsibilities of persons who engage in strategy implementation....................84.2 Resources required for implementing new business strategy...............................................84.3 Contribution of SMART objectives in achieving strategy implementation..........................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONIn the modern scenario, business strategies assist to give appropriate guidelines anddirections to company so that they can significantly survive in the competitive market place aswell as easy to attain their goals and objectives. Therefore, strategy affected by internal andexternal causes either positive or negative manner. Thus, it is necessary to be systematicallyanalyse and evaluate all major factors with the help of suitable methods and techniques. Thisreport classified into two sections first part is based on Azimo company. (Teece, 2010) Hence, inthe context of Azimo organisation here will be explained its goals, vision, mission, corecompetencies in an effective manner because it helps to formulate appropriate strategy plan.Whereas second part of this assignment based on Volkswagen company, it is one of the leadingautomotive organisation of UK. Thus, here will be systematically explained organisational auditfor evaluating and examining the actual position of the business firm. Additionally,environmental audit also here will be conducted in an systematic style. In the last, it will beelaborated importance of stakeholders within the business firm due to this stakeholder methodwill be used. (Scholes, 2015)TASK 11.1 Business missions, vision, objectives, goals and core competencies helps in formulatingstrategic plansCovered in PPT1.2 Factors should be considered while formulating strategic plansCovered in PPT1.3 Techniques used in developing strategic business planCovered in PPTTASK 22.1 Organisational audit for evaluating strategic position of companyIt is required to be significantly evaluate and analyse the strategic position of the businessfirm before developing new strategy for the company. With the help of this, an organisation can1
easy to get success as well as achieve their goals and objectives. Apart from this, organisationalaudit is one of the major aspect for every company because with the help of this can significantlyidentify the actual position and status in a impelling style (Astrachan, 2010). Thus, here can beused SWOT analysis tool for analysing and evaluating strengths, weaknesses, opportunities andthreats of the company. Along with this, SWOT analysis technique explained in the context ofVolkswagen such as follows: (Jurevicius, 2016)Illustration 1: Swot analysis of Volkswagen(Source- Jurevicius, 2016)STRENGTHSWEAKNESSESVolkswagen has great and effectivebrand image in the market placeIt also can be known as first entrant ofthe car market Work place of Volkswagen skilled andcapable employees are workingIt have several branches withinapproximately 27 countries across allover the world. In the current year regularly increasedcompetition level in the auto-mobilesector.It have limited growth rate because of itis an rivalry business firm. Volkswagen suffered by severalcontroversies thus all these situationsare directly affects on organisationperformance and brand name in thenegative manner. OPPORTUNITIESTHREATSVolkswagen can be expand theirOne of the major threat is continuously2
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