James&Jerry: Strategic Planning, Formulation, and Techniques

This business strategy report assesses the strategic planning process, focusing on James&Jerry. It covers the business mission, vision, objectives, goals, and core competencies, highlighting their importance in strategic planning. The report analyzes factors to consider when formulating strategic plans, including the role of managers, delegation, targets, and resources. It evaluates the effectiveness of techniques like the BCG matrix and McKinsey matrix in developing strategic business plans, emphasizing their role in evaluating market share and competitive positioning. The document concludes with a list of references and is available on Desklib, a platform for students to access study resources and solved assignments.

Business Strategy
(Task 1)

Contents
• Introduction
 Business mission, vision, objectives, goals and core
competencies
 Factors that have be considered when formulating strategic
plan
 Effectiveness of techniques used when developing strategic
business plans
 References

Business mission, vision, objectives, goals and
core competencies
Strategic planning process is one of the important aspect for the
company which helps in achieving organizational goals and
objectives in effective manner. With the help of this company
effectively utilize their available resources. Effective strategies
plan include mission, vision, goals, objectives and core
competencies which helps in enhancing the overall performance
of the company at market place.

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Mission: Mission statement of James&Jerry is to offer new and
innovative as well as quality products to their customers in
order to achieve their satisfaction level which leads in
enhancing the profitability level of the company.
Vision: The vision statement of James&Jerry is to make
ecofriendly vehicles and lead at global level.

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Goals: In this the short team goal of James&Jerry is to attract
more customers by providing quality services and other side
the long term goal is to attain their mission statement in
appropriate time period.
Objectives: The main objectives of James&Jerry is use offer new
and quality services to their customers in order to achieve their
higher satisfaction by them.

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Core competencies: It is an also effective which considered in
strategic planning. It is an specific and unique aspect which
helps in enhancing the employees skills and abilities in order
to get better results.

Factors that have be considered when
formulating strategic plan
Strategic planning is one of the effective and important process
for the company which helps in achieving goals and objectives
in appropriate manner. It include various factors which aid in
evaluating as well as assessing the activities of the business on
daily basis.

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Managers: They are the important factors in organization which
is related with top, middle and lower level managers.
Delegation: It is also important elements in which middle level
manager delegate with their duties and provide their
employees as per their capabilities which helps in completing
all the task in effective manner.

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Targets: It is one of the important aspect which is set by the top
level authorities to improve their performance which leads in
achieving higher profitability of the company.
Resources: It is prime need of the company which helps in
formulating a strategic plan. With the help of this company
execute their organizational activities.

Effectiveness of techniques used when
developing strategic business plans
Strategic planning is one of the effective process which is based
ion the particular situation. With the help of this firm maintain
their strong position at market place. With the help of this
manager and employer easily execute their business activities
in most effective manner.

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BCG matrix: It is one of the important matrix which is used by
the company to evaluate the market share of the company. It
include four aspect which helps in determining the actual
position of the business in market. It include cash cow, stars,
question mark and dog.
Mc Kinsey matrix: It an effective strategy which include three
aspect such as high, medium and low. It helps in defining the
attractive position of the company at market place.

References
Basco, R., 2015. Family business and regional development—A
theoretical model of regional familiness. Journal of Family
Business Strategy. 6(4). pp.259-271.
Bryman, A. and Bell, E., 2015. Business research methods.
Oxford University Press, USA.
Carayannis, E. G., Sindakis, S. and Walter, C., 2015. Business
model innovation as lever of organizational sustainability.
The Journal of Technology Transfer. 40(1). pp.85-104.