Business Strategy Report: Planning, Factors, and Techniques Analysis

This report provides an overview of business strategy, emphasizing the importance of effective planning for organizational growth and the achievement of goals. The content covers the mission, vision, goals, objectives, and core competencies of a business, using Volkswagen as a case study. It examines the factors influencing strategic planning, including communication, innovation, and culture, and evaluates the effectiveness of various techniques, such as the BCG matrix, in developing strategic business plans. The report also highlights the significance of senior management's role in strategy formulation and the importance of techniques like communication, innovation, and culture. The report concludes by emphasizing the application of the BCG matrix in achieving strategic goals and objectives within a specified timeframe. References are provided to support the analysis.

TASK 1
BUSINESS
STRATEGIES

Covered content
• Introduction
• Business strategies for company.
• Factors which must be considered while formulating plan
• Effectiveness of techniques businesses need when developing their plans.
• Conclusion
• References

INTRODUCTION
Business strategy performs an important part in expansion
and growth of any organisation. In order to achieve the
organisations goals and objective it is necessary to have
an effective strategy designing. Following presentation
will discuss the factors affecting planning of strategies and
will also enhance the knowledge regarding how same can
be developed.

Business strategies for company.
To accomplish the companies objective management has to do an effective planni
ng before designing strtaegy. It must be one which is practically possible to be im
plementd and has high chanses of giving desired results.

Continued...
 Mission: It comprises of factors for which any company is run
ning in the industry. Volkswagen has a prime mission to prove
tehir products best in the market and cover maximum
 Vision: Major vision statement for a company is to maintain a
ppropriate quality through which number of users get maximi
se.

Continued...
 Goals and objectives: VK wants to increase their number of
users through which number of users get maximise.
 Core competences: As one of a werll established brand in fr
ont of users which is consider as core copetency of busines
s.

Factors which must be considered while formulating plan.
Senior management plays a role for formulatinmg strategies through whic
h whole project get done in well defined manner. It consists three major ste
ps for formulating plan:
 Communication
 Innovation
 Culture

Effectiveness of techniques businesses need when developing t
heir plans.
VK have to employ such action of plan through which they can
attain all of their goals and objectives in signified time manner.
Effectiveness of technique is consider as major thing in which c
ompany have to use BCG matrix.

Continued...
 Stars
 Cash cows
 Dog
 Question mark

Conclusion
As per presentaion it get identified that, for accomplishing all goal
s and objectives in a time priod. For ascertain all goals manageme
nt have to apply BCG matrix.

References
Agyapong, A. and Boamah, R. B., 2013. Business strategies and co
mpetitive advantage of family hotel businesses in Ghana: The r
ole of strategic leadership. Journal of Applied Business Researc
h. 29(2). p.531.
Bozkurt, Ö. Ç. and Kalkan, A., 2014. Business Strategies of SME's,
Innovation Types and Factors Influencing Their Innovation: Bu
rdur Model/KOBI'lerin Isletme Stratejileri, Inovasyon Türleri v
e Inovasyonlarini Etkileyen Faktörler: Burdur Modeli. Ege Aka
demik Bakis. 14(2). p.189.

Thank You