HND Business Level 5: Understanding Strategic Planning Process Report

This report, created for an HND Business Level 5 assignment, delves into the core concepts of business strategy and strategic planning. It begins with an introduction to business strategy, emphasizing its role in achieving organizational goals and objectives. The report then examines the essential components of a business strategy, including mission, vision, goals, objectives, and core competencies, and explains their significance in shaping a company's future. It also analyses the factors that should be considered when formulating a strategic plan and different techniques used in strategic planning & evaluation. The report utilizes tools such as the BCG matrix to assess strategic positions. Finally, the report concludes with a list of references used in the creation of this work.

Business Strategy
(Understanding the process of strategic planning)
TASK 1

Table of Content
 Introduction
 Business mission, vision, goals, objectives and core
competencies
 Factors considered when formulating strategic plan
 Techniques in term of strategic planning & evaluation
 References

Introduction
Business strategy is reflected as plans and policies which are used by
firms in order to achieve all their assigned goals and business
objectives.
All the activities of firms should be monitored & controlled in order to
ensure smooth functioning at work place.
Strategy are useful tools for mangers as it helps them to make plans and
policies in order to achieve their targets.

Business Mission, Vision, Objectives, Goals
and Core Competencies
Business strategy are essential tools for every firms in order to
achieve all their goals and business objectives in desired time
frame.
This is valuable factors which helps in achieving growth and
development for business.

Cont....
The vision, mission, goals and core competencies of business are
described as:
Mission: : This is an essential statements which are beneficial for firms
in order to analyse their position where they will stand in the future
times.
Vision: This is an essential elements which describes what the firms
want to achieve in future time period.

Cont.....
Goals: These are defined as targets which had to be achieved by
Swing Patrol in allotted time period.
Objectives: These are vital statements which are framed in advance and
this helps the business to perform all their business according to
these objectives.
Core competencies: These are values of firms which helps them to
make differences by seeing themselves standing at high positions in
market place.

Business Plan
BASIS TIME
Research & Development 10 to 40days
Main objective of plan 10 to 15days
Identifying current position of company 15 to 20 days
Documenting aspects of dancing firms 5 days
Identifying market plans and policies 15 days
Implementation & Review 20 to 25 days

Factors Considered while Formulating
Strategic plan
Different factors analysed
by firms are described as:
 Future Targets
 Current market
situations
 Customers

Cont...
Future Targets: If firms wants to carry out their
operations in effective ways then they should evaluate
their goals, objectives, vision and core competencies
which are helpful in achieving growth and success for
business.

Cont...
Current market situations: All the trends and strategies
at market place have to be analysed in order to
evaluate working so they can achieve all their targets.
Customers: This element is linked with attitude and
behavioural aspects of clients at business
organisations.

Techniques in Strategic Plan
Evaluation
Swing Patrol are using various tools and techniques in order
to gain all their goals and business objectives in planned
and effectual ways.
This can be achieved with the help of growth and share
matrix which are beneficial in achieving all their targets
in desired time frames.

Techniques in Strategic Plan
Evaluation
Swing Patrol are using various tools and techniques in order to
gain all their goals and business objectives in planned and
effectual ways.
This can be achieved with the help of growth and share matrix
which are beneficial in achieving all their targets in desired
time frames.