Importance of Review in Developing Organisational Strategy and Business Plans

This presentation discusses the importance of review in developing organisational strategy and business plans. It also explores the tools that can be used for reviewing organisational strategy and business plans.

Strategic Planning
(TASK 3)

TABLE OF CONTENTS
• INTRODUCTION
• Explaining the importance of review in developing organizational strategy and
business plans
• Evaluating the tools which can be used to review organizational strategy and business
plans
• CONCLUSION
• REFERENCES

INTRODUCTION
Strategic planning is a process of determining a strategy for an organisation. The process
includes activities of research, direction and making decisions. This concept of strategic
planning helps an organisation to grow and develop with a well executed plan. In this
report, Vista company is selected which is a multinational organisation. It is assumed that
this company is a service provider of technology solutions. This company provide their
services to various businesses including film industry. In this presentation importance of
review in developing organisational strategy and business plans will be discussed along
with the tools which can be used to review organisational strategy and business plans

Importance of review in developing organisational strategy
and business plans
Review is a technique by which an organisation evaluates their internal and external
environment so that they can effectively develop their strategies and business plans. In
order to better understand this concept, strategies and business plan of Vue
Entertainment, UK is analysed. This company is a client of Vista, as per the vision and
mission of Vista company it is clear that the aims and strategies of this organisation is
based on the objective of their client. In order to analyse Vista’s future direction Vue
entertainment is considered.

CONTINUE…
Along with strategies, business plan of an organisation is also beneficial with reviewing.
As this technique helps Vue Entertainment to review the external and internal market
which is important for an organisation to develop a business plan. Vue generally uses
SWOT and PESTLE tool of reviewing.

Tools to review organisational strategy and
business plans
Reviewing is a technique which helps in analysing and evaluating
the external and internal aspects of a business. Reviewing is a
procedure which can be done by using various tools. These tools
involve various elements which can help an organisation to
evaluate their surroundings. One of the most effective reviewing
tool is VMOST which stands for Vision, Mission, Objectives,
Strategy and Tactical in this tool an organisation review their
vision and other aspects by which it is easier for them to analyse
business plan

CONTINUE…
SWOT is a review tool which helps in re evaluating business plan as it is important for
an organisation to make sure that their business plan is inclined with their current
resources. SWOT is a tool which helps in analysing strengths, weaknesses,
opportunities and threats of an organisation. Strengths and weaknesses are related with
internal aspects and other two elements are related to external environment. SWOT
analysis helps in reviewing business plan of an organisation and make sure that the
plan should flaunt company’s strengths and underline all the threats.

CONCLUSION
From the above report, it has been concluded that strategic planning is procedure of
preparing strategic and business plans for an organisation.
Various review techniques are used in this report and a small scale organisation is
analysed from which it is concluded that an organisation is required to analyse its
strategic options in order to gain insights about their growth and development.

REFERENCES
Tavitiyaman, P., Qu, H. and Zhang, H. Q., 2011. The impact of industry force factors on
resource competitive strategies and hotel performance. International Journal of
Hospitality Management.30(3). pp.648-657.
Williams, B. and Figueiredo, J., 2011, June. Strategy and technology management: An
innovation-leader case study. InTechnology Management Conference (ITMC), 2011
IEEE International (pp. 806-811). IEEE.

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