Entrepreneurial Strategy Framework PDF

Strategy

Executive Summary:
From the report it has been summarises that entrepreneurial strategy is the framework
which is followed by the companies in order to decide the structure and planning the process to
achieve the organizational objectives and goals. There are so many strategic tools and techniques
which may help the management of SMEs such as BCG matrix, PIMS, Porter's Five Forces,
McKinsey's 7S model, Value chain model, Etc.
The directors of First Mile Company uses SWOT and PESTEL analysis tools in order to
understand and analyse the impacts of external and internal factors upon the organization. These
elements may affect the strategies of the organization adversely as well as favourably.
First Mile Company has set some goals in order to increase its brand name and
profitability as well for which it has used SMART technique. It has been felt that in order to
fulfil all its objectives it should follow the McKinsey's 7S model to built the structure of its
operations. The company is also advised that the specific steps should be followed to achieve and
sustain the success.

Table of Contents
INTRODUCTION...........................................................................................................................1
Entrepreneurial Strategy: ................................................................................................................1
BCG Matrix: ...............................................................................................................................1
Porter's Five Forces Model: ........................................................................................................2
McKinsey's 7S Model: ................................................................................................................3
Organisational strategic situation, capabilities and position analysis:.............................................5
SWOT Analysis:..........................................................................................................................5
PESTLE Analysis:.......................................................................................................................5
Set of Objectives for the Organization:...........................................................................................6
Implementation of Strategy:............................................................................................................8
RECOMMENDATION:..................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
In today’s changing business environment, a businessperson may easily overpowered by
economical structural changes. Though, it is essential to stay centred on business goals for the
establishment. The framework is dignified from others that describe the word ‘entrepreneurial’ to
distinguish a long‐term concept of strategic demeanour. Entrepreneurial strategy will be
activated with some larger or lesser tendency by all enterprises, whether their long‐term action is
retrogressive or innovative.
This project or assessment covers various types of entrepreneurial strategies,
organization's situation, capabilities and position regarding strategies, company's objectives and
use of strategy to reach them in context with an SME, First Mile Company situated in London
and Birmingham and involved in a business of recycling process of corporates' waste and enliven
organizations to be more responsible for environment.
Entrepreneurial Strategy:
Entrepreneurial strategy can be defined as plan of action regarding widely spread
coincidental changes in the structure of decisions condemned by an establishment. It is a process
of innovating and developing new products and thoughts in competitive environment (Ardakan
and Hamadani, 2014). These entrepreneurial strategies suggest innovative techniques to drive the
business and taking risks regarding all aspects related to objectives and operations. The
following are common strategies that can be adopted by the First Mile Company in relation to
develop and consolidate its situations:
BCG Matrix:
The BCG matrix has been introduced by The Boston Consulting Group also known as
product portfolio matrix and Growth Share matrix is designed to assist the management
regarding long-term strategic planning, to help a business regarding growth opportunities by
reviewing its function of products, to decide the cease or development of the products, where to
invest (Brilha and et.al, 2017). This Matrix is divided into 4 quadrants that are based on an
analysis of market share and relative market growth which are presented below:
Stars: The products or units produced in the business that have the maximum market
share and create most of the cash within the organization are considered in stars quadrant.
However, stars consume huge amount of cash because of their high growth rate. Flexible plastic
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