HND Business Strategy: Strategic Planning, Formulation, and Evaluation

This report provides an analysis of business strategy, focusing on strategic planning, formulation, and evaluation. It assesses how business missions, visions, objectives, goals, and core competencies inform strategic planning. The report analyzes factors to consider when formulating strategic plans, including micro and macro environments, using SWOT and PESTLE analyses. It evaluates the effectiveness of techniques used in developing strategic business plans, analyzes the strategic positioning of an organization through an organizational audit, and assesses the significance of stakeholder analysis when formulating new strategies. The report concludes by emphasizing the importance of business strategy in achieving organizational goals and objectives, highlighting the role of stakeholders in various activities of the company.

Business Strategy
(TASK 1)

Table Of Content
• Introduction
• Business missions, Visions, objectives and core
competencies
 Factors to be considered while formulating plan
 Micro Environment
• Macro Environment
• Conclusion
• References

Introduction
Business strategy is very crucial and important element of an
respective organisations which help to the company in
achieving as well as accomplishing their targets and objectives.
This assist in the impoverishing performance of all operations
and intensify services and their productivity.

Business missions, Visions, objectives
and core competencies
To achieve and accomplish the goals then it demands for
concentrations and focus on the upcoming and recent trends
which help in set the priorities and goals. Although it is
important so cope up with the current scenario

Contd..
Mission:- The major mission of Volkswagen is to build
values for there customers for getting the Credibility and
also create group of potential purchasers.
Vision :- By serving the high quality and vale products and
services to their customers then they will make their
employees, consumers, stakeholders loyal to their specific
brands.

Contd...
Objectives :- The main aim of the company is profit
maximizing by increase the sales in the market places and
through this action they will settle up good reputation in
business environment.
Goal :- Their main aim is to expand the business more so
the various customhouse from the different locality will get
the benefit of their products

Core competencies
Core competencies- This basically depicts the good services
and other specific speciality of the Volkswagen by getting
the advantages at large Cost prices of products.
• Self review
• Eco- friendly services

Formulation of strategic plan
There are various kinds of factors that can be analysed by
taken an action plan. There are mainly two types of factors
of business environment such as macro and micro.

Macro environment
It is internal element which can be managed and controlled by
firm. It will directly affects on business operations. SWOT
analysis of Volkswagen:
Strength
Leading car manufacturing
company
They have approx. 350000
employees
Weaknesses
Limited market share
Mass competitors
Opportunities
Expand firm business in all over
the world
Adopt new features and designs
Threats
Increase cost of raw material
Fast changes in technologies

Macro environment
It is the external factor which will be uncontrollable by firm and they
required to evaluate pestle so that they can identify external factors
of business environment.
Political
 Government restrict on selling some specific products
 Firm will also modify their norms according to the system
managements
Economical-
 Any changes occurs in taxation policy then it directly affects
business activities or activities
 They required to alter their plans according to them

Contd..
Social-
 An enterprise required to promote new products and
services
 Volkswagen adopt latest cultures and values
Technological-
 Firm require to adopt and update latest techniques and
methods that will help in enhancing sale of products and
services
 This will directly gain attention of customers towards
company new goods

Contd..
Environmental-
 Organisation should reduce wastage of raw material
during production processing
 This will assist in increasing profitability and
productivity
Legal-
 Authorities develop different rules and regulations
which must be followed by firm
 These norms are directly company business
activities and its operations