Business Strategy Report: Strategic Planning Process and Analysis

This report provides an overview of business strategy, focusing on the strategic planning process. It assesses how business missions, visions, objectives, goals, and core competencies inform strategic planning. The report analyzes factors considered when formulating strategic plans and evaluates the effectiveness of techniques used in developing strategic business plans, including the BCG matrix. The conclusion emphasizes the importance of strategic planning for enhancing organizational performance and growth. This document is available on Desklib, a platform offering a wide range of study resources for students.

BUSINESS STRATEGY

CONTENT
 Introduction
 Business mission, vision, goals, objectives and core competencies
 Factors for formulating strategic plan
 The effective techniques that are used in strategic plan
 Conclusion
• References

INTRODUCTION
Business strategy is considered as the effective organisational plan which is
essential in dealing with business objectives and set aim. It plays the most
effective role in order to gain competitive advantage at market place. The
basic purpose of each organisation is to achieve their goals and objectives
within a stipulated period of time from which an effective business strategy
is required.

Business mission, vision, goals, objectives and
core competencies
Business strategy helps them in attainment of high profitability for their future growth. For
gaining growth organisation needs to prepare some mission, goals, vision, objectives and
core competencies, these are described as under:
Mission: It is most essential statement which is designed for each business to identifying
their aims.
Vision: Shine Retail Ltd is mainly target teenagers and adults in order to increasing their
sales and revenues through offering high quality goods and services to them.

CONTINUE...
Objectives: These are some essential component which are crated on the basis of
organisational aims and helps in providing a proper direction to higher authority
for carry out all business activities in right manner.
Core competencies: This can be described as the effective component of firm
where business is focusing on creating difference in their all business operations
through establishing effective plan and strategies in respect of gaining success
and growth.

BUSINESS PLAN
Business plan is the most significant part of firm in respect of managing their activities and measure their monetary
values that can be applied in performing various business activities in respect to gain higher level of growth.
BASIS TIME DURATION
Activities that are related with research and development of
firm.
15 to 40 days
Major aims that are linked with planning. 15 days
Evaluate the current position of firm. 10 to 20 days
Written documentation Retail industry. 15 days
Plan and policies that are effective for firm. 10 days
Revise and assist business plans 25 days

Factors for formulating strategic plan
Various strategies are implemented in order to effective functioning of business
activities, some components are described as under:
 Future Targets
 Financial aspects
 Customers
 Current market situation

The effective techniques that are used in strategic
plan
The classification of BCG Matrix is
describes as under:
 Stars
 Cash cows
 Dogs
 Question Mark

CONCLUSION
As per the above report it has been concluded that each business organisation is
focused on implementing best strategy at work place in order to enhancing their
performance and working ability of employees. Strategic planning plays most
effective role in business organisation and helps the higher authority to taking
effective decision that are beneficial for organisational performance and growth.

REFERENCES
Barberá, L., and et. al., 2012. Advanced model for maintenance management in a continuous improvement cycle:
integration into the business strategy. International Journal of System Assurance Engineering and Management.
3(1). pp.47-63.
Bharadwaj, A. and et. al., 2013. Digital business strategy: toward a next generation of insights.
Bharadwaj, A. and et. al., 2013. Visions and voices on emerging challenges in digital business strategy.
Burlton, R., 2010. Delivering business strategy through process management. In Handbook on Business Process
Management 2(pp. 5-37). Springer Berlin Heidelberg.
Campbell, D., Edgar, D. and Stonehouse, G., 2011.Business strategy: an introduction. Palgrave Macmillan.

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