Business Strategy Management

Added on - 21 Feb 2021

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MANAGING BUSINESSSTRATEGY
EXECUTIVE SUMMARYThis report is written in context with Hong Kong Jockey club which is a non-profit firmoffering sporting, horse racing and betting entertainment within Hong Kong. Company wasfounded in 1884 and headquartered in Hong Kong. This assignment is going to discuss aboutvision and mission of the company which is to became a market leader in offering sporting andentertainment to people. For designing balanced score card, firm can use its analytical report sothat performance can be measured properly. Beside this, PESTLE analysis will be conducted toacknowledge external business environment in a deeply manner. Porter's five force model isapplied so that different competitive forces affecting market can be identified easily. At last, byusing strategy implementation method, organisation will apply various innovative strategieswhich will benefits the company in achieving their desired growth, results and success.
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Introduction of business nature of organisation along with its mission, vision and corecompetencies..........................................................................................................................1Designing of balance scorecard for firm by highlighting analytical report for performancematrix......................................................................................................................................3PESTLE analysis in organizational context...........................................................................5Porter's five forces to identify competitive forces of market sector.......................................7Strategy implementation method to implement innovative strategies in organizational context................................................................................................................................................9RECOMMENDATION.................................................................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness strategy is referred to the set of actions or decisions that benefits a businessperson in attention particular business objectives. It is a master plan which is implemented by themanagement of an organisation so that a stable position can be secured within marketplace.Managing business strategy is defined as different tactics which are adopted by a company sothat required strategies can be implemented in a proper manner(Barberá and et. al., 2012). Thisassignment report is written in context with Hong Kong jockey club which is a Hong Kong basednon-profit and charity organisation. This company provides sporting, betting entertainment andhouse racing to their customers. Hong Kong Jockey club was founded in 1884 and in 1971,jockey club is transformed into a professional racing institution for horses. Company is a charityand non-profit business which have the goal to offer high entertainment and sporting facilities tothe local residents or outside visitors.Beside this, organisation also provides football betting and lottery activities so thatcustomers can spend quality time by trying their luck. Jockey club has also started a horsetraining hub so that their charity institution can further expand in Hong Kong market. Companyuses major of their earning in community works and projects. Club is sustaining a strong positionin marketplace from last 135 years(Blackburn, Hart and Wainwright, 2013). Company alsocontributes high in the economy of country by different ways such as donation, lottery fund,offering job opportunities, taxes, development of infrastructure etc. Horse racing and associatedsporting in Hong Kong is a smartest and slickest racing product in global context. This sport ishigh on integrity and quality, huge in case of turnover and very easy to understand. This reportwill include about business nature, mission, vision and core competencies of the company.Balanced score card for concerned company is designed to acknowledge performance ofcompany. PESTLE framework and porter's five forces is performed to acknowledge business andbusiness environment. At last, methods of strategy implementation are used so that innovativebusiness strategies can be applied in a proper manner.MAIN BODYIntroduction of business nature of organisation along with its mission, vision and corecompetenciesBusiness nature of company1
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