Strategic Management and Planning

Running head: STRATEGIC MANAGEMENT AND PLANNING
STRATEGIC MANAGEMENT AND PLANNING
Name of the Student
Name of the University
Author Note

1STRATEGIC MANAGEMENT AND PLANNING
Table of Contents
Task 1.............................................................................................................................2
Explanation based on vision, mission, strategy and business plans and relationships
between them.........................................................................................................................2
Effect of external factors on organizations’ strategies...............................................3
Evaluation of ways by which stakeholder expectations and influence on
organizations..........................................................................................................................5
Task 2.............................................................................................................................6
Analysis of mission and vision of Vista UK..............................................................6
Evaluation of the impact on mission and vision of Vista on the strategies................7
External influences on the strategy of Vista..............................................................8
Task 3...........................................................................................................................10
Importance of review in development of organizational strategies and business
plans.....................................................................................................................................10
Evaluation of tools that can be used to review organizational strategies and business
plans.....................................................................................................................................12
Reviews of current position of Vista........................................................................15
Competitive strengths and weaknesses of current business strategy and business
plans of Vista........................................................................................................................16
Task 4...........................................................................................................................16
Strategy options for Vista.........................................................................................16
Criteria based on review of potential strategy options.............................................17
Task 5...........................................................................................................................18
Explanation of the structure of a plan required to deliver strategy..........................18
Explanation based on the ways by which stakeholders are involved in formulation
of the plan.............................................................................................................................19
Process of providing information to the stakeholders..............................................19
Creation of monitoring system to implement the plan successfully........................20
Conclusion....................................................................................................................20
References....................................................................................................................21

2STRATEGIC MANAGEMENT AND PLANNING
Task 1
Explanation based on vision, mission, strategy and business plans and relationships
between them
A mission statement is considered to be an explanation that is based on the reasons
behind the effective existence of the organization in the industry. The overall intention and
purpose of the organization is explained with the help of a mission statement. Mission
statement is able to provide support to the vision that is developed by the organization. The
vision statement is helpful in communicating the direction and purpose to the employees,
vendors, customers and other different stakeholders who are a part of the operations 1.
The focus of vision statement is on the future strategies and operations of an
organization. Mission statement on the other hand is only based on the present operating
procedures that have been developed by the company. The mission and vision statements that
are developed by the organizations are able to play a major role in the effective development
of different strategies that are implemented 2.
The business plans that are developed by organizations are considered to be important
for the ways by which they are able to continue their successful operations in the respective
industries. The plans that are developed by the organizations can play a major role in the
fulfilment of overall organizational objectives. The structure of an organization is able to play
a major role in the proper development of business plans which can play a major role in
development of business operations 3.
1 Afrifa, Godfred Adjapong. "Net working capital, cash flow and performance of UK SMEs." Review
of Accounting and Finance 15.1 (2016): 21-44.
2 Bailey, Catherine, et al. Strategic human resource management. Oxford University Press, 2018.
3 Barney, Jay B. "Resources, capabilities, core competencies, invisible assets, and knowledge assets:
Label proliferation and theory development in the field of strategic management." The SMS Blackwell handbook
of organizational capabilities (2017): 422-426.

3STRATEGIC MANAGEMENT AND PLANNING
The objectives and goals of the organization are mainly considered for the proper
formation of business plans. Implementation of proper changes in the organizational
processes is considered to be an important part of the business plans of companies that are
formed. The current business processes are also implemented effectively within the business
plans that are formed by the organizations 4.
The proper implementation of business plans is based on the proper consideration of
mission and vision statement that has been developed in an effective manner. The vision
statement of the organization has an impact on the strategies that are implemented and the
ways by which it is able to gain high levels of profitability as well. The organization is able to
maintain its operations in a sustainable manner with the proper implementation of the
business plans that are developed with respect to the mission and vision statement 5.
Effect of external factors on organizations’ strategies
As discussed by Bernon , Cullen and Gorst 6, the external and internal factors have an
impact on the organizational strategies and plans. The environmental factors are sometimes
controllable and sometimes cannot be controlled by the organization. Various operations of
the modern organizations that range from goal setting to the daily operations are affected by
the factors related to external environment. External factors are considered to be highly
important for the development of strategies for implementing in various organizational
operations in an effective manner.
4 Bassano, Clara, Paolo Piciocchi, and Maria Cristina Pietronudo. "Managing value co-creation in
consumer service systems within smart retail settings." Journal of Retailing and Consumer Services 45 (2018):
190-197.
5 Baumgartner, Rupert J., and Romana Rauter. "Strategic perspectives of corporate sustainability
management to develop a sustainable organization." Journal of Cleaner Production 140 (2017): 81-92.
6 Bernon, Michael, John Cullen, and Jonathan Gorst. "Online retail returns management: Integration
within an omni-channel distribution context." International Journal of Physical Distribution & Logistics
Management 46.6/7 (2016): 584-605.

4STRATEGIC MANAGEMENT AND PLANNING
As opined by Blackley, Resnick and Cassidy 7, the profitability and stability of the
organizations is affected by changes that take place in the external environment. Policies
developed by the government have an impact on the ways by which organizations develop
their strategies and business plans. Legislations and laws in different countries also affect
strategies implemented by the organizations and business plans that are implemented as well.
The tax policies are considered to be the most important part of legislations that have an
impact on the operations of the modern organizations 8.
Tax policies have an impact on the costs that are related to production in the
organizations and the ways by which they are able to maintain the levels of profits as well.
The environment of the country in which an organization operates is considered to be an
important part of the external factors that have an impact on the strategies and business plans
as well 9. According to Chernev 10, the different external environment based factors that can
affect the strategies and business plans of the organizations include, political factors,
economic factors, social factors, technological factors, legal factors and environmental
factors. The PESTEL analysis is considered to be an important factor that is able to affect the
ways by which strategies are developed by the organizations. The analysis of environment
with the help of this framework is able to affect the ways by which the organization can form
the business plans in order to operate in a successful manner 11.
7 Blackley, Nelson, Sheilagh Mary Resnick, and Kim Cassidy. "Improving UK retail academic-
practitioner research: insights from relationship marketing." International Journal of retail & distribution
management 45.1 (2017): 4-19.
8 Bogomolova, Svetlana, et al. "Price promotion landscape in the US and UK: Depicting retail practice
to inform future research agenda." Journal of Retailing and Consumer Services 25 (2015): 1-11.
9 Carmichael, George, Yu-Wang Chen, and Cheng Luo. "Data-driven segmentation of consumers'
purchase behaviour in the retail industry." 2018 4th International Conference on Information Management
(ICIM). IEEE, 2018.
10 Chernev, Alexander. Strategic marketing management. Cerebellum Press, 2018.
11 Colicev, Anatoli, Ashwin Malshe, and Koen Pauwels. "Social Media and Customer-Based Brand
Equity: An Empirical Investigation in Retail Industry." Administrative Sciences 8.3 (2018): 55.

5STRATEGIC MANAGEMENT AND PLANNING
Evaluation of ways by which stakeholder expectations and influence on organizations
As discussed by Dagnino, King and Tienari 12, the stakeholders of an organization can
be defined as the entities that are affected by the operations of different businesses. The
impact of business operations on the stakeholders can be direct or indirect as well. The
suppliers and customers of the organization are considered to be the most significant
stakeholders are able to affect the companies with respect to their demands and needs. The
organizations have to consider the demands and needs of consumers in order to ensure that
they are effectively fulfilled 13.
According to Demir, Wennberrg and McKelvie 14, the stakeholders of modern
organizations are also able to affect the operations and business strategies as well. The
analysis of stakeholders of business is considered to be the most important part of the strategy
development process of the organization. The stakeholders of the organization are listed and
degree or levels of interest are also developed with the help of communication process that is
formed. The business also needs to fulfil the needs of stakeholders and also communicate the
goals of the organization as well 15.
According to Engert, Rauter and Baumgartner 16, the business plans of the
organization are developed with respect to the needs of stakeholders and the ways by which
their expectations can be fulfilled in an effective manner. The profits that are offered to the
12 Dagnino, Giovanni Battista, David R. King, and Janne Tienari. "Strategic management of dynamic
growth." (2017): 427-430.
13 David, Fred R., and Forest R. David. Strategic management: A competitive advantage approach,
concepts and cases. Pearson, 2016.
14 Demir, Robert, Karl Wennberg, and Alexander McKelvie. "The strategic management of high-
growth firms: A review and theoretical conceptualization." Long Range Planning 50.4 (2017): 431-456.
15 Durand, Rodolphe, Robert M. Grant, and Tammy L. Madsen. "The expanding domain of strategic
management research and the quest for integration." Strategic Management Journal38.1 (2017): 4-16.
16 Engert, Sabrina, Romana Rauter, and Rupert J. Baumgartner. "Exploring the integration of corporate
sustainability into strategic management: a literature review." Journal of cleaner production 112 (2016): 2833-
2850.