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Strategic Planning Assignment: Vista Company

   

Added on  2020-06-06

14 Pages3607 Words838 Views
Strategic PlanningTABLE OF CONTENTS

INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Mission, Vision, strategy and business plans of Vista company...........................................3Evaluating the way stakeholder expectation influence organizations.........................................5Evaluating the way stakeholder expectation influence organisations..........................................5Stakeholder mapping is the effective tool that can be used to identify the way stakeholdershave influence on organisation. It is used by organisation to identify the stakeholderexpectation and analysing the influence of such people on business activities...........................6TASK 2............................................................................................................................................62.1Analyzing the impact of mission and vision statement of VISTA.........................................6TASK 3............................................................................................................................................83.1 Explaining the significance of developing organisational strategy and business plans.........83.2 Evaluating the tools that can be used to review organisational strategy and business plans.8TASK 4............................................................................................................................................94.1 Strategic option for Vista.......................................................................................................94.2 Criteria for reviewing the potential strategic options...........................................................10TASK 5..........................................................................................................................................115.1 Explaining the structure required for delivering strategy....................................................115.2 Explaining the way stakeholders are involved in formulation of plan................................115.3Providing a dissemination procedure in order to ensure stakeholder are informed andcommitted to plan.......................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................12

INTRODUCTIONStrategy planning is defined as the procedure of establishing objectives, identification andallocation of resources in order to achieve business goals. It is also associated with setting longterm mission and vision for firm, determining the tactics to explore and capture variousopportunities. The purpose of strategic planning is to ensure that employees and otherstakeholders are working together in order to achieve common goals.The study has focus on identifying various external forces that have great impact onbusiness activities that can be understood in context of Vista company. It will demonstrate thesignificance of strategies and policies.TASK 11.1 Mission, Vision, strategy and business plans of Vista companyVista is leading company dealing in Information technology sector in UK. It providestechnical support including hardware procurement, maintenance, hanging, cabling, installationand contact center management. to retailers, hospitality, tour and travel industries. Theorganization provides Epos support, maintenance and installation services. Vista providestechnical assistance to more than 119 leading retailers company in UK. It also providesinnovative ideas and solution to hospitality sector in order to solve various problems related toindustry.Vision- It describes the position that the organization wants to achieve in future. Visiondrives firm towards growth.Mission-It is a statement that describes organization function, and competitive advantage.Mission indicates the business philosophies and goals. It indicates the reason and purposeof company.Strategy-It refers to the sum of actions that enterprise is required to take in order toachieve short as well as long term goals.Business plan include identifying and setting vision as well as mission, it emphasizes onevery aspect of business that have great impact on organization ability to achieve its goals andobjectives. Business plan is an effective tool that drive business entity towards achieving itsgoals and objectives. Strategies is formulated in order to accomplish goals that has been set by

business plan. Strategy provides the path to accomplish business plan. It considers the long-termobjectives, medium term processes and short-term plan of actions. Strategy is referred to as bestuse of scarce resources to achieve specific objectives.The way external factors have impact on organization PESTLE analysis is an effective tool to analyze the effect of various macroenvironmental factors on business operations. These forces have great impact on the variousstrategy, policies and decisions of firm.The macro environmental factors consist of various elements such as pollical, social,technological, economic, legal and environmental constituents.Political factors-The political factors have great impact on the expansion and marketingstrategy of organization. Political elements include policies related to particular industries,regulation associated with particular business activities. These codes of conducts are framed bylegal and political parties in order to avoid unfair trade practices.Economic factors-These forces have great impact on Vista financial performance as wellas om its profitability and revenue generation capacity. These forces have great effect on thebuying and purchasing power of company. It is required by firm to buy material in bulk at thetime of favorable economic condition. Economic forces have impact on organizational economicpolicies.Social factors-These factors are very challenging as the customer taste and preferences onthe basis of trends prevailing its society. As Vista is dealing in service sector and providingtechnological solution the firm has less impact on its strategy.Technological factors-As these forces is very important to be consider by VISTAcompany as it is dealing in service sector. It is required by organization to keep updatethemselves with latest technological trend. As this will assist business entity in identifyingtechnical problems and analyzing effective solution.Legal factors-This forces have great effect on the sustainability of organization. It is veryEssential for Manager in VISTA to adopt various effective strategy in order to comply withgovernment legislation. As this will aid business entity in eliminating

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