Strategic Planning - Task 3

This presentation discusses the importance of reviewing organizational strategies and business plans for achieving better outcomes. It explores the concept of review, tools for reviewing strategies, and conducts a SWOT analysis of Vista Group. The presentation also highlights the resource-based approach and the review process of business plans.

Strategic planning- Task 3

Introduction
 Review of organizational strategies has been done in the
presentation in context of Vista to so that adequate changes can
be done to achieve the better outcomes.

Concept of review of business plans
 The review of business plans dictates the information that plans
are going according to set expectations of the stakeholders or not
(Driouchi and Bennett, 2012).

Importance of review in developing
organizational strategy
 According to Driouchi and Bennett (2012), review of
organizational strategies and business plans is important because
it provides the opportunities to implement the changes in
processes.
 To be aware about the quality of work

Cont…
 Helps to evaluate management capabilities
 Supports to know about budget
 Helps to minimize the wastage
 Business performance

Cont…
 Provides an opportunity to maintain a relationship between
planning and strategic advantages
 Helps to perform frequent changes

Tools to review organizational strategy and business
plans
 Benchmarking
 Resource based approach
 SWOT analysis (Strengths, Weaknesses, Opportunities and
Threats)

Cont…
 Benchmarking- it supports to promote performance
improvement and implement new strategies according to review.
In this context, Vista can apply benchmarking tool to analyze the
current strategies of the organizations because through
benchmarking strategy management become aware about current
position of working

Cont…
 Vista can come to know about the current strengths and
weaknesses of the organization as well as employees.
Furthermore, on the basis of benchmarking tool, Vista can change
into the business strategies for achievement of adequate results

Importance of benchmarking
 Vista can set a level of performance expectations by reviewing
business plans and accordingly focus on the further developments
and innovations.
 benchmarking helps the companies to set the standards and
accordingly perform the changes in strategies and business plans
for optimum outcomes.

SWOT analysis
 SWOT analysis is used to analyse the internal and external
strengths of the organization so that competitive advantages can
be obtained in the market among rivalries

SWOT analysis of Vista group
Strengths
 Brand image
 Quality products and technical solutions
 A large number of consumers
 Strong distribution network (Blue ocean University, 2019)

Cont…
Weaknesses
 Large competitors
 High turnover of employees
 Investments on R&D is minimum
 Limited number of products

Cont…
Opportunities
 New trends in consumer behavior
 Stability in market
 Opening up of new markets
 Free cash flow availability

Cont…
Threats
 Governmental laws in different markets
 Shortage of skills
 Availability of local distributors

Current position of Vista international
 Competitive in technological market
 Least adaptive in compare to business rivalries
 Least focus on growth of the business

Resource-based approach
 Vista can apply the resource-based approach to analyze the
business strategies and business plans and accordingly apply the
apply the required resources for the achievement of targets.

Review process of business plans
 Assess the core activities
 Evaluate business strategies
 Review financial position of organization
 Conduct competitor analysis
 Customer and market analysis
 Apply models for strategic analysis

References
 Barney, J.B., 2012. Purchasing, supply chain management and
sustained competitive advantage: The relevance of resource‐based
theory. Journal of supply chain management, 48(2), pp.3-6.
 Driouchi, T. and Bennett, D.J., 2012. Real options in management and
organizational strategy: A review of decision‐making and performance
implications. International Journal of Management Reviews, 14(1),
pp.39-62.
 Gernaey, K.V., Jeppsson, U., Vanrolleghem, P.A. and Copp, J.B. eds.,
2014. Benchmarking of control strategies for wastewater treatment
plants. IWA Publishing.

Cont…
 Zairi, M., 2010. Benchmarking for best practice. Routledge
 Blue ocean University, 2019. SWOT analysis. (Online). Available at: <
http://fernfortuniversity.com/term-papers/swot/nyse/6291-vista-group-
international-limited-.php
>. [Accessed on 5 April 2019]