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Strategic Plans of United Finance Company SAOG - PDF

   

Added on  2020-10-05

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Strategic Plansof UnitedFinanceCompany SAOG1

Table of ContentsINTRODUCTION...........................................................................................................................31.1 Business mission, vision, objectives and core competencies. .........................................31.2 Factors that have to be considered when functioning strategic plans..............................41.3 Effectiveness of techniques used when developing strategic business plan....................5TASK 2- Formulating a new strategy .............................................................................................62.1 SWOT analysis and Value Chain Analysis......................................................................62.2 PESTLE analysis and Porter's Five Forces analysis .......................................................72.3 Significance of company's stakeholders analysis when formulating new strategy..........82.4 New strategy for the organisation...................................................................................10TASK 3 – Strategy Formulation....................................................................................................103.1 Appropriateness of alternatives strategies related to market entry, substantive growth,limited growth or retrenchment............................................................................................103.2 Selection of a strategy....................................................................................................11TASK 4- Implementing strategy....................................................................................................124.1 Roles and responsibilities of personnel who are charged with strategic implementation.124.2 Estimated resource requirement for implementing new strategy...................................124.3 Contribution of SMART targets for achievement of strategic implementation.............13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................152

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INTRODUCTIONThe strategy of business can be defined as a strategy that sets out to achieve its desiredends i.e. goals. Further, it can be simply described as a long term business planning. It can alsobe explained as the course of action or collection of decisions which assist the entrepreneurs inattaining specific business objectives. In addition, strategy is considered important as it is notpossible to anticipate the future. As, without an appropriate prediction, the companies must beprepared to deal with the uncertain events which constitute the business environment. Strategyby the organisations is developed to take into consideration the probable behaviour of customersand competitors. The major purpose is to achieve effectiveness, mobilising resources, meetingchallenges and threats and competitive advantage (Bull, Jobstvogt and Carter-Silk, 2016). The chosen organisation is United Finance Company SAOG, that provides vehicle andequipments financing in the Sultanate of Oman. The firm has been serving Omani business since1997, and is listed in Muscat Securities Market. The assignment aim is to produce a managementreport that provides a strategic analysis of United Finance Company that is operating in Gulfregion. The report will examine and critically evaluate the present strategy of the firm. Further,recommendations are need to be made based on the analysis, and outline & evaluate a range ofoptions and selecting the most appropriate one for implementation. This report is supposed touse some theoretical models, framework and theories in order to underpin the analysis. TASK 1 – Strategic Planning process 1.1 Business mission, vision, objectives and core competencies. United Finance Company SAOG, is an Oman based shareholding public company thatoffers leasing and financial services solutions. A number of goods both conventional and non-conventional are offered by this organisation, including corporate deposits and Banc assurance.Moreover, the company is principally engaged in the provision of vehicle and equipmentfinancing, composite loans, bridge loans, debt factoring, hire purchase & leasing in Sultanate ofOman. The company run its branches in Firaq, soahr, Ibra, Ibri, and Mawelah (Goetsch andDavis, 2014). Historically, the organisation came into existence and registered as a joint stockCompany on January 1995. Further, 40% of the Company's shares are owned by the publicpresently, whereas the founder shareholders own 60%. The present shareholders of the firm are4

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