An Analysis of Business Strategies and Strategic Planning Techniques

This report delves into business strategies and strategic planning techniques employed by companies like Nisa to achieve their objectives. It covers key aspects such as mission and vision statements, strategic planning processes, and the role of senior management in implementing these strategies. The report also addresses issues like market research, adapting to environmental changes, and various planning techniques such as benchmarking and business plans. The importance of strategic planning in achieving targets, retaining customers, and gaining a competitive edge is highlighted, referencing academic sources to support the analysis. Desklib offers a platform for students to access similar solved assignments and past papers.

Business strategies

Introduction
Business strategy are planned by executive officers
then approved by Board of directors after that
implemented within organization and followed by
members. Strategies are pre planned activities which
every company uses for smooth functioning of
businesses. Nisa makes plans and strategies for
meeting the mission, vision, goal and objectives. For
identifying the actual position of the company, auditors
are required to follow audit procedure for conducting
audit of Nisa.

Strategic contexts and terminology
Nisa company is dealing in retail business which
has small grocery shops and wholesalers in United
kingdom. The strategic planning is important for
every organisation for their success. In strategic
planning all the planned activities are undertaken
for the development and achievement of long and
short term objectives.

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The mission statement of cited company is to support,
promote and develop all the ice skating discipline with
the safe and positive shaping environment so that it
provides the opportunities for participants to
accomplish their personal goals with in a competitive
activity.

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The vision statement of Nisa is to act as responsible
organisation to operate their business activities
properly and to seeking in to improve the performance
in different sectors of market.
The objectives the enterprises is to capture the more
market share which will increase profitability and
maximize the growth.

1.2 Strategic planning and issues
involved in strategic planning
Strategy planning defines the strategy of organisation
and helps the managers to take the appropriate decision
in allocating the resources. In organisation the manager
have to control all mechanism for proper
implementation of the strategy. While making the
strategic planning it describes that how the targets will
be achieved by the company by the allocation of
resources.

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Strategic planning includes the process of
implementation and formulation in formation of the
organisation objectives. The managers of Nisa have to
make proper strategic planning for the achievement of
targets with in time period.
The company will succeed in market only when
customers are retaining for a long period of time and the
company have to make the strong strategic planning to
beat the competitors. The manager have to provide the
core value to customers than the competition.

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Some of the issues are :-
 Marketing department have to regularly conduct the
market research to properly identify the needs of
customers and try to design the best quality of
products and services for them.
 Since environmental of every business organisation
is changing constantly. So the enterprises have to
adapt those changes which will affect the decision
of managers.

1.3 Senior management and different
strategic planning techniques
Various types of strategic planning techniques are
used by senior management in order to improve
performance of Nisa in international market. This
is the forecasting concept which help company to
meet their desired goals and objective.

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Further, Nisa is an international retailing company which
provide its goods and services in many countries. So that, it
have to make plans and execute them where it is necessary.
Various strategic planning techniques are used by companies
are as follows:
Marketing plan- Nisa company use different types of
marketing method which improve their earning efficiency and
increase number of customer as well.

Planning Techniques
Few of the planning techniques are:
 Benchmarking – It is a comparison of metrics of
competitors with the self company or to find out the
industry average so as to find compatibility.
Business plan- It is a forecasting concept which help
company to reduce their contingencies and conflict as
well which are may or may not be arises in future
time. This tool is used for staring up and maintain
overall performance of company.

References
Astrachan, J.H., 2010. Strategy in family business:
Toward a multidimensional research agenda.
Journal of Family Business Strategy. 1(1). pp.6-14.
 Bharadwaj, A., and et. al, 2013. Digital business
strategy: toward a next generation of insights.
 Campbell, D., Edgar, D. and Stonehouse, G.,
2011. Business strategy: an introduction. Palgrave
Macmillan.