Strategic Planning: Business Missions, Objectives, and BCG Analysis

This presentation provides an overview of business strategy, focusing on the process of strategic planning. It explains the importance of business missions, visions, objectives, and core competencies in achieving organizational goals. The presentation also discusses factors that must be considered when formulating strategic plans, such as industry dynamics, competition, and internal strengths and weaknesses. Furthermore, it highlights the effectiveness of techniques like the BCG matrix in developing strategic business plans, outlining its advantages and disadvantages in assessing a company's portfolio balance and making investment decisions. The presentation concludes by emphasizing that while market share is important, other factors also determine corporate success.

Business Strategy
(Understand the process of strategic planning)
Task 1

Table of contents
• Introduction
• Business missions, visions,objectives and core
competencies
• Factors that have to be considered when formulating
strategic plans
• Effectiveness of techniques used when developing
strategic business plans
• References

Introduction
• This presentation is explaining about the business
mission, vision, objectives and core competencies. The
factors that are essential while formulating strategy are
also described. Additionally, effectiveness of BCG matrix
is explained that aids in formulating strategies.

Business missions, visions,objectives and
core competencies
• Missions statements are set of purposes that an enterprise
wishes to fulfil the expectation of their stakeholders. It
assist in recognising how business is running and
providing range of quality services and products to their
potential customers.

Cont..
Mission statement of UK motors that are dealing with
manufacturing of auto-mobiles are given below:
• Creating value for their users
• Gaining loyalty
• Expanding market sharing

Cont..
Vision statements states the future expectation or outlook
of the corporation. It aids in identifying possible gain and
growth of enterprise. Vision statements of UK motors are
listed below:
• To become most valuable in the eyes of customers,
employees and stockholders
• To become most growing firm

Cont..
Goal and objectives are nothing but common guidelines that
an enterprise wishes to attain within a certain period of time.
Objectives are processes or stages to achieve those goals.
They actually refers to short term plan while goals are long
terms plans of the company.

Cont..
Goals and objectives of UK motors are following:
• To be at the top level of auto-mobiles marketing
• To expand their core business
• To gain more and more profitability

Cont..
Core competences are some extraordinary ability and
qualities that assist in making the business exceptional in
comparison to their competitors. It also aids in creating a
popular brand image for users and attain their blind reliance
on their business.

Factors that have to be considered when
formulating strategic plans
Strategic planning is the method through which an
enterprise can define or describe its strategies and making
decisions about how resource are distributed it resources in
order to follow their strategies.

Cont..
There are commonly three factors that are considered while
developing strategic planning that are described below:
• Industry
• Competition
• Strength and weaknesses

Effectiveness of techniques used when
developing strategic business plans
BCG matrix can be used a best technique for developing
their strategic plans. This matrix represents four kind of
situations that are faced by the UK motors that are described
below:
• Stars
• Cash cows
• Dogs
• Question marks