Roles and Responsibilities of Personnel During Strategy Implementation
Assessment on understanding the process of strategic planning and formulating a new strategy.
12 Pages4090 Words92 Views
Added on 2020-06-03
Roles and Responsibilities of Personnel During Strategy Implementation
Assessment on understanding the process of strategic planning and formulating a new strategy.
Added on 2020-06-03
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Business Strategy
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Objectives, goals, vision and mission of business inform strategic planning.......................11.2 Elements to be considered during formulation of strategic plans.........................................21.3 Effectiveness of various techniques used during development of business plans................3TASK 2............................................................................................................................................42.1 Strategic positioning of enterprise with the help of organisational audit..............................42.2 Environmental audit..............................................................................................................52.3 Importance of stakeholder analysis.......................................................................................62.4 New strategy for organisation...............................................................................................7TASK 3............................................................................................................................................73.1 Appropriateness of alternative strategy.................................................................................73.2 Justification of selected strategy...........................................................................................8TASK 4............................................................................................................................................84.1 Roles and responsibilities of personnel during strategy implementation..............................84.2 Resources required for implementation of new strategy.......................................................94.3 Contribution of SMART targets in achieve objectives of strategy implementation...........10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness strategy mainly refers to the long term planning done by managers in order toachieve predetermined goals and objectives. This indicates the summary of all future actions ofcompany to fulfil demands of its customers (Granados and Gupta, 2013). Main feature ofeffective business strategy is that it helps business in utilising all its resources and help inachieving efficiency in the production process. Before formulating a strategy for business, it isessential for the manager to first identify and analyse the needs of its customers and stakeholdersas fulfilment of needs of these is essential to achieve success of business. Volkswagen, one of thebiggest manufacturers of automobile is chosen in this report for study. Significance ofstakeholder analysis and roles and responsibilities of employees during process of strategyimplementation are all detailed in this report. Contribution of SMART objectives in achievementof business objectives is all mentioned under this. TASK 1Covered in PPTTASK 22.1 Strategic positioning of enterprise with the help of organisational auditOrganisational audit is known as the procedure under which manager evaluate variousactivities of firm in order to achieve goals and to better satisfy the needs of its customers(Alsudiri, Al-Karaghouli and Eldabi, 2013). One of the main feature of this is that it helpmanager in collect information about various aspects such as strengths and weakness ofcompany. For this SWOT analysis can be used by the managers of Volkswagen. Strengths: Capabilities of firm which help in get competitive advantage in market is known asstrengths of firm. Identification of these is very essential as manager can use it to capture a largermarket share. Main strengths of Volkswagen are:Company use an effective approach for undertake it production which help enterprise inmaintain the quality and also attract large number of customers. Presently operations of company are expanded in various areas which help enterprise ingenerate large amount of profits every year.Weakness:Lack of sills of employees working in Volkswagen negatively affect the businessoperations.1
Increase number of competitors. Opportunities: Increasing tend of technological products give an opportunity to enterprise to make andoffer innovative products to its customers. Further, variation in needs and requirement of customers provide a platform to companyto add new features in its product. Threats:As automobile industry has high rate of growth than it attract number of participantswhich serve a biggest threat to company. Changes in government and its policies negatively affect the business activities anddecision making process of enterprise. 2.2 Environmental auditEnvironmental audit is known as the process under which manager first identify thevarious factors exist in business environment and study impact of those elements on decisionmaking process of company. All this help manager in formulate effective policies for businessoperations. PESTLE approach can be used by the managers of Volkswagen to determine theimpact of external elements on business activities:Political factors: Political stability in a country and various rules, regulation and policiesformulate by government in order to maintain economic growth of country is come underthis. As Volkswagen is operating on an international level so different norms and rules ofvarious countries affect the marketing decision of company (Azar, 2011). To achieve setgoals and objectives all these factors must be study by the manager of company. Economic elements: This include the various elements such as inflation rate, deflationrate and exchange rate which affect the operations of a company. For example: Ifgovernment increase the tax rate of firms than this will negatively affect the expansionactivities of Volkswagen.Social factors: Various factors such as attitudes, beliefs, interest and behaviour of targetcustomers come under this. Any variation in these factors must be consider by the mmanagers to make products as per the requirements of customers. Technological elements: Technology used by enterprise for undertake production ofproducts play a big role and largely affect the success of company. It is very essential for2
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