HND Business Strategy: Strategic Planning, Techniques & Analysis

This presentation provides an overview of strategic planning for R.K. Designers, a new business venture. It covers essential elements such as the company's vision, mission, goals, and core competencies, and how these inform strategic planning. The presentation analyzes factors to consider when formulating strategic plans, including industry analysis and the competitive landscape. It also evaluates the effectiveness of various strategic techniques like benchmarking, business analysis, stars, and cash cows. The conclusion emphasizes the importance of strategy formulation for achieving organizational goals and establishing a market position, highlighting how utilizing suitable techniques can guide R.K. Designers to success. Desklib offers more resources like this, including past papers and solved assignments, to aid students in their studies.

BUSINESS STRATEGY
Task 1

Cover Content
 Introduction
 Companies Vision, Mission And Goals
 Goals And Desires
 Factors For Strategic Planning
 Evaluation of Different Techniques
 Conclusion
 References

INTRODUCTION
Whenever an entrepreneur wish to start a new business it is required
that he formulates effective strategies as this helps in achieving the
goals and objectives. The given presentation will discuss the
planning done by R.K. Designers before opening their store in the
market. All the required elements like the strategy formulation will
be explained in detail which will help in the establishment of a new
firm.

Companies Vision Mission And Goals
Vision – The refereed organisation wish to operate with a vision of
acquiring the higher market share. For same the authority will be
formulate effective strategy so that they can achieve their targets.
Mission – This statement discusses the companies mission for which it
operates. R.K. Designers wishes to establish an example in the
market by supplying the quality and trendy product to the
customers.

Goals and Desires
 To give customers maximum satisfaction
 To enhance the total profitability
 To establish effective connection with the
clients

Factors For Strategic Planning
In order to design the strategy it is necessary that various factors are
considered so that effective results are achieved.
 Business – In order to design strategies for R.K. Designers
management first needs to go through the entire industry.
 Level of Competition – in order to earn the competitive
advantage this is necessary that formulation of strategies are done
after going through the present compete-ion which is present in
the industry.

Other Factors To Be Consider While
Formulating Planning

Evaluation Of Different Techniques
In order reach at successful results this is very crucial that evaluation of
existing techniques are done so that corrections if required can be
made at the same time. There are different techniques through which
the level of set strategies can be examined. Some of them are:
 BENCHMARKING
 BUSINESS ANALYSIS
 STARS
 CASH COWS

Process Of Analysing Strategy

Conclusion
From the given presentation it is summarised that to achieve the
organisations goals and objectives it strategy formulation is
effective. By utilising to various techniques the most suitable code
of conduct can be established which helps the new organisation R.K.
to make its position in market.

References
Aitken, H.G., 2016. Continuous Wave (pp. 512-13). Princeton
University Pres.
Brush, C. G. and et. al., 2015. The impact of resources on small firm
internationalization. Journal of Small Business Strategy. 13(1).
pp.1-17.
Carraher, S. M. and Paridon, T. J. 2015. Entrepreneurship journal
rankings across the discipline. Journal of Small Business Strategy.
19(2). pp.89-98.

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