Strategic Management: Evaluation of Purpose, Vision, Mission, and Objectives

BSc (Hons) Business Management Top up
BMP6002
Strategic Management
Strategy Evaluation
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Table of Contents
Introduction...............................................................................................................................2
A critical evaluation of the value of clear purpose, vision, mission and objectives..................2
Assess the competitive using the VRIO framework...................................................................4
Using PESTLE framework analyzing the external environment.................................................6
Application of the Porter’s Five Forces......................................................................................9
A review of the business strategy for British Airways.............................................................10
Conclusion................................................................................................................................11
References................................................................................................................................12
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Introduction
Strategic management is considered as the continuous preparation,
supervision, review and evaluation of all the requirements that an organization must
address in order to achieve their goals and objectives. It helps the business in
assessing their current situation in the present situation as well as for the future
situation. It also assists in setting up the right path for the company and for the
employees. British Airways is taken as based company. British Airways is
considered as the second largest UK based carrier According to the fleet size and
passenger carried. This organization was found in 1974, headquartered in London.
In this report, it covers the external and internal environmental factors that impact on
the strategy and review on the strategic plan of the organization.
A critical evaluation of the value of clear purpose,
vision, mission and objectives
Organizational strategy refers to as outlining how an organization is able to
achieve its mission and vision. It is considered as a strategy for allocating capital and
supporting various business functions such as inventory, marketing common
development and infrastructure (Abutabenjeh, 2021). It makes sure that the business
is able to set their milestones and achieve their targeted goals. Along with this, it
assists in establishing a long term goals and vision for the organisation.
Organizational strategy of British Airways
British Airways is catering their customers across the globe and it is the
second largest airline in UK. They’re offering quality service to their customers at a
very reasonable price as well as with an overwhelming experience. In 2018, they
have generated revenue of £13.02 million and £13.29 million in 2019 which has a
great contribution towards the corporate growth. British Airways is considered as a
luxury airline in which the company’s market model can be defined as value creation.
Along with that, with an operating profit margin of 12 to 15%, the airline seeks to
achieve a minimum 15% return on capital (Ansoff and et. al., 2018).
Mission
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British Airways corporate mission, led by Sian Doyle is to improve its brand
reputation by supplying customers with high quality services. With growth expected
assets expanding from 10.8 billion pounds to £18.8 billion, British Airways is one of
the leading airline providers. The provision of services where the consumer feels
secure and confident during their travel experiences prioritized in the mission
statement of British Airways (Cabrilo and Dahms, 2018). They maintain that they bring
value to their customers and the world by combining new techniques with cutting
edge technologies to provide meaningful opportunities for their customers. They
provide a wide variety of services and items to their customers which include travel
courses, lounges, streaming newspapers for their entertainment I’m family travel. By
incorporating intellectual resources and technical creativity in the growth process,
British Airways ensures that it meets their mission by developing a dynamic,
competitive and demanding workplace. They attract their customers from different
sectors by offering them a one of a kind experience of healthy flight services. Their
strategy is to reshaping of merchandise and the introduction of advanced club suite
in A350 aircraft which will provide access to direct aisle, luxury seat and suite doors
with improved privacy. Mototoktug is providing corporate Industries with a significant
edge in the present competitive period by providing signature luxury dinners comity
facilities, alcoholic and soft beverages , ordering versatility and convenient seating
arrangement with the characteristic qualities of comfy sofa, accommodation package
and the use of technological advancements in biometric boarding.
Vision
British Airways is known for supplying their customers with exclusive
opportunities through high quality services. Their vision states that it aspires to
become the leading airline by offering high quality services to their customers while
protecting their interest (Emeagwali, 2017). Their strategy approach it's to achieve
their vision on re storing an re developing commodities such as business class
seeds and refreshed first class given. the company wants to invest in lounge and re
develop their luxury services. In addition to this, the organization also strives to
achieve their strategic mission by providing exceptional customer support. British
Airways in-flight entertainment offerings include free Wi-Fi, digital newspaper and
online magazines instead my obtaining new position and cooperating it’s to improve
package and terminal facilities, their aim to enhance the competitiveness in the UK
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