HND Business Level 5: Strategic Planning, Techniques and Evaluation

This report provides an overview of business strategy, emphasizing the role of business missions, visions, objectives, goals, and core competencies in strategic planning. It analyzes the factors that must be considered when formulating strategic plans and evaluates the effectiveness of techniques used in developing strategic business plans, such as Ansoff and BCG matrix. The report highlights how strategic plans are essential for the optimum utilization of resources and for guiding a company toward its long-term goals. It uses the example of "Travel Planner" to explain the concepts. The assignment solution underscores the importance of strategic planning for any organization seeking to achieve its vision and mission, and suggests that Ansoff and BCG matrix are useful in checking the effectiveness of techniques used in creation of a plan. Desklib provides access to similar solved assignments and resources for students.

Business Strategy
(Task 3)

Introduction
 Introduction
 Role of business missions and goals in creation of
strategic plan
 Important factors in formulation of a plan
 Effectiveness of techniques that are used in development
of strategic plans
 Conclusion
 References

INTRODUCTION
Business strategy help an organisation in attaining their
vision and mission. It help them in providing correct
direction which is essential for aching long term goals.
This presentation will help Travel Planner for getting
financial assistance from producer of dragon den.

Mission and vision
Mission – Cited company want to solve all the hurdles
which customers face at the time of travelling. They want
to generate affordable plans and develop a healthy
relationship with their customers.
Visions – ''Travel planner'' want to become the number one
company of tourism sector, they want to expand their
business across the globe.

Significant elements in creation of a plan
Competitors made a huge impact on the plans made by an
organisation. Growth of industry play significant role in
formation of a plan because it if as sector will progress
then companies operating under it will also earn more
profit.

Effectiveness of techniques which is used
in development of strategic plans
Anstroff and BCG matrix
help an organisation for
checking effective of
various tools which they
are using in development
of strategic planning. It
assist company in
expansion of business.

Continue
Most of the firms use it for
development of new
product and future plans,
this is necessary for
attaining long term goals
of a company.

Conclusion
At the end, it can be concluded that a an strategic plans is
necessary for optimum utilisation of resources It helps a
company in proceeding towards their goals. Ansoff and
BCG matrix can check the effectiveness of different
techniques which are used in creation of a plan.

References
Scholes, M.S., 2015. Taxes and business strategy. Prentice
Hall.
Stiakakis, E. and Georgiadis, C.K., 2011. Drivers of a
tourism e-business strategy: the impact of information
and communication technologies. Operational
Research. 11(2). pp.149-169.

THANK-YOU