Factors Affecting Strategic Planning in Business

Business Strategy
(TASK 1)

Introduction
Strategy is the most important element in running any of the
business. It is the plan of the management which helps the
organisation to grow and to increase the performance. Strategic
planning helps the organisation to attain the objectives and the goals
effectively.

1.1) Formulating the strategic business plan
considering goal, objectives vision and mission
of the firm
Mission- Mission basically defines why the firm is existing and
what all things will it does to attain the vision of the firm. It is a
very important aspect of the firm as it motivates the firm and its
employees to perform the given task effectively. There is no
official mission statement of Volkswagen but it has a group goal-
“The group goal is to offer attractive, safe and
environmentally sound vehicles which can be complete in an
increasingly tough market and set world standards in their
respective class. ”
Vision- It is a written statement which is a long term plan of the
organisation. It defines what the organisation want to do in the
future and what it wants to achieve in upcoming time.