Company Mission, Vision, Core Competencies, Goals and Objectives

This presentation provides insights into the mission, vision, core competencies, goals, and objectives of a company. It also discusses the factors that require special consideration in strategy formulation and evaluates the effectiveness of techniques like SWOT analysis, BCG matrix, and Porter's Five Forces model in strategic business planning.

TASK 1

Companies mission, Vision, core
competencies goals and objectives
The company James Halliburton's Waterbuoy is
selling luminous balloons. The organisation is
manufacturing large size of balloons that
contains Led lights in them which cann be
switch on and can be spotted from up to mile
away.

Mission
The mission statement is short statement that describes
the purpose, scope, philosophies, activities of firm.
The mission of the James Halloburtons Waterbuoy
company is to increase its sales of balloons by
designing innovative balloons.

Vision
Vision statement describes the desired position
that company wants to achieve in the future.
The vision of the company is to become top
seller of balloons.

Goals
Goals assists firm, in identifying the things that
are to be achieved by enterprise.
The goals of Halloburtons firm is to produce
innovative balloons to meet the demands and
expectation of customer.

Objectives
Objective of organisation refers to the outcome
that thee enterprise would loke to accomplish.
The objective of the organisation is to gain
customer loyalty by providing enhanced
quality of balloons.

Core competencies
Core competencies refers to the strength of the
form that helps firm in gaining competitive
advantage over its competitors.
The core competencies lie in the technology
used by organisation for producing
innovative products.

Factors that required special
consideration
There are various factors that require special
consideration whole formulating strategy.
These factors can be categorise into two
internal and external factors.

Internal factors
The various internal factors include organisational
culture, environment, policies, code of conduct,
ethics, human resource, leadership style, management
etc.
These factors have direct effect on the strategic
formulation process. For successful formulation of
strategy it is required by Halloburtons Waterbuoy to
consider these factors.

External factors
There are various external factors that have direct impact on
strategy formulation process of organisation. These
elements are uncontrollable and unmanageable. The
various external factors are-Political factors, Legal
factors, Economic factors, Social factors and
Technological factors

Effectiveness of techniques used
while formulating strategic business
plans
Swot analysis technique: SWOT analysis is used by
Halloburtons Waterbuo organisation in order to analyse
their current business status. This techniques assist firm in
identifying its strength , weaknesses opportunities and
threat.

Advantages of Swot analysis
Swot analysis techniques enables business unit
to comprehend their strength and enhance
their brand image.
This technique provides opportunities to firm in
order to identify its weakness.

Disadvantages
The swot analysis does not provide effective solutions.
Much information is provided by swot analysis but only
some part has information has value.
Swot analysis suggest business to have focus on strength
but too much focus on strength may lead lack of
attention on weakness and threats.

BCG matrix
This techniques assist Halloburtons Waterbuo enterprise in
determining their business unit that is their product line. This
technique consist of chart to rank the business unit on the basis
of their relative market share and growth rates. The bCg
matrix consist of four quadrants such as cash cows, stars, dogs
and question marks.

Advantages of BCG matrix
This technique is designed to help business in long
term strategic planning.
It assists business unit in analysing growth
opportunities by reviewing its portfolio of products
to formulate investment strategy.
The quadrant in BCG matrix enables organisation in
evaluating the current position of organisation and

Disadvantage
This technique provides limited information which can not be
proved effective in formulation of strategy.
This model is based on two dimensions – market growth and
market share these could not be sufficient for taking major
investment decisions.
This technique neglects small competitors that may have major
influence competitive strategy of organisation.

Porters five force model
This model assist Halloburtons Waterbuo business unit in
determining the type of competition in their industry.
This techniques help form in analysing the power of
buyer and suppliers, treat of new entrant, risk from
substitute product etc.

Advantages
This model assist firm in framing effective strategy by
providing various information related to all elements in
the industries.
This technique help organisation in analysing influence of
various factor on strategy formulation process of
organisation.

Disadvantages
The data provided by this factor is based on only external
factors it does not include the influence of internal
factors on strategy formulation process.

REFERENCES
Motohashi, K., 2015. Global business strategy:
Multinational corporations venturing into emerging
Markets. Springer Science+ Business Media.
Neugebauer, F., Figge, F. and Hahn, T., 2016. Planned or
emergent strategy making? Exploring the formation of
corporate sustainability strategies. Business strategy and
the environment. 25(5). pp.323-336.
Shepherd, A.K. and Toms, S., 2017. Entrepreneurship,
Business Strategy and Philanthropy: Competition and
Regulation in Nineteenth Century British Cotton Textiles.

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