Business Strategy of Volkswagen
18 Pages4753 Words129 Views
Added on 2020-01-28
Business Strategy of Volkswagen
Added on 2020-01-28
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Assess how business missions, visions, objectives, goals & core competencies informstrategic planning when formulating strategic plans ..................................................................31.2 Analyze the factors that have to be considered when formulating strategic plan ..............41.3 Evaluate the effectiveness of techniques used when developing strategic business plans....5TASK 2............................................................................................................................................62.1 Analyze the strategic positioning of VW AG by carrying out an organizational audit ........62.2 Carry out an environment audit for VW AG......................................................................72.3 Assess the significance of stakeholder analysis when formulating new strategy for VWAG................................................................................................................................................82.4 Present a new strategy for VW AG...................................................................................10TASK 3..........................................................................................................................................113.1 Analyze the appropriateness of alternative strategies relating to market entry, substantivegrowth, limited growth or retrenchment for VW AG................................................................113.2 Justify the selection of a strategy.......................................................................................12TASK 4..........................................................................................................................................124.1 Assess the roles & responsibilities of personnel who are charged with strategyimplementation..........................................................................................................................124.2 Analyze the estimated resource requirements for implementing a new strategy for VW AG....................................................................................................................................................134.3 Evaluate the contribution of SMART targets to the achievement of strategyimplementation in VW AG........................................................................................................142
CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................163
INTRODUCTIONThe objective of the report is to study Business Strategies that can be applied to getsucceed in the business. Strategy is required by every company to achieve its targets andobjectives . Strategic plan is formulated by the top level management members which is thencommunicated to the other members of the team (Scholes, 2015). Study will asses importance ofmission statements, visions , goals and objectives of the company to formulate business plan.Factors involved in formulating strategic plan such as innovation, communication, resources etcwill be studied. BCG matrix technique will be used in development of strategic plan.Organization audit of Volkswagen will be performed using SWOT analysis and PESTELanalysis will be used for environmental audit. Market penetration and Market developmentstrategies will be used for VW and appropriateness of this strategy will be analyzed.TASK 11.1 Assess how business missions, visions, objectives, goals & core competencies informstrategic planning when formulating strategic plans The process of defining strategies of an organization in which it will direct its works andmake decisions by using available resources to implement the current strategy is known asstrategic planning. Strategic planning for any business involves certain elements that aredescribed below:Mission: Mission statement of the organization is identified before planning any strategy.Objective of mission statement is to fulfill goals of the organization. Mission statement isuseful to identify market size of any company. For example, VW's mission statement isto offer safe and attractive vehicles to the customers which does not produce sound as itcould be harmful to others. Environmental friendly vehicles can challenge in inflexiblemarket by setting standards into specific field (Leonidou and et.al., 2015).Visions: Vision statement presents description about what company would accomplish inthe long term future. It also declares mid term goals of the company. Basically Vision isthe steps required to attain mission statement.Goals: Goal represents something that you working on to achieve. It includes planningfor accomplishing targets. Goals can be classified into categories: short term goals and4
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