Strategic Planning and Formulation in Business Strategy - HND L5

This report provides an overview of business strategy, focusing on the importance of strategic planning and formulation for organizational success. It begins by defining key concepts such as mission, vision, objectives, and core competencies, emphasizing their role in informing strategic planning. The report then analyzes various factors that must be considered when formulating strategic plans, including cost-effectiveness, brand development, and customer feedback. It evaluates the effectiveness of different techniques like the BCG matrix and Ansoff's matrix, highlighting their utility in long-term business planning and innovation. The report concludes by underscoring the significance of business strategy in developing activities and rebuilding brand reputation, emphasizing that the accomplishment of organizational goals depends on stakeholder management. Desklib provides access to similar solved assignments and resources for students.

Business Strategy
(Task 1)

Table of Content
• Introduction
• Mission, vision, objectives and Core competencies
• Considering factors while formulating strategic plans
• Effectiveness of techniques
• Conclusion
• References

Introduction
Business strategy is indispensable and crucial element for
achieving goals and objectives of an organisation. It aid in
developing performance of operations and increase the level
of productivity. The purpose of this report is to create a
business plan by determining and designing vision, mission
and objectives of an organisation to gain sponsor investors.

Missions, visions, objectives and core
competencies
Mission
Mama's Kitchen mission to provide the best Mexican food
and Sushi as well as best brewed in the streets of London.
Vision
Mama's Kitchen vision to support best services and food
quality to clients and compete competitors in local areas by
implicate effective strategies.

Continue..
Objectives
• Mama's Kitchen objectives consist of gaining more than
the 25% of invested money in business within 1 year.
Goals
Mama's Kitchen is fresh business start-ups that is focusing
the development opportunity.

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Core Competencies
• Cost effective prices and effective quality
• Brand labelling development
• Review the responses of users of services.

Considering factors while formulating
strategic plans
Mama's Kitchen aim is develop plans and programs which
can assist in innovating products and services as well as
provides services in lesser cost than competitors. The
management of strategies helps in deploying business
attaining the set goals and objectives of an organization. This
identify the designs which can assist in solving issues and
conflicts as well as comply the effective strategies and plans
into the company.

Effectiveness of techniques
This method is use for planning of long term businesses for
the evolvement and development of company by which
organization. This have been categorised into four parts:
• Dogs
• Question mark
• Stars
• Cash cows

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Ansoff's Matrix
This helps Mama's Kitchen in scaling and reviewing the
concepts and commodities in innovative and creative way.
This helps in increasing sales and revenues.

Conclusion
This report summaries that business strategy helps in
developing and evolving the activities and rebuilding brand
reputation among the factors of market. This is essential for
a company. Accomplishment of objectives and goals of
organization depend on stakeholder and their administration.

References
• Scullion, H. and Collings, D., 2011. Global talent
management. Routledge.
• Verbeke, A., 2013. International business strategy.
Cambridge University Press.
• Zott, C., Amit, R. and Massa, L., 2011. The business
model: recent developments and future research. Journal
of management. 37(4). pp.1019-1042.

Thank You