HND Business Strategy: Strategic Planning, Techniques, and Analysis

This report provides an overview of strategic planning within a business context, emphasizing the importance of aligning business vision, mission, and objectives with strategic initiatives. It identifies key factors considered during strategic plan formulation, including competition, industry dynamics, and internal strengths and weaknesses. The report evaluates the effectiveness of strategic planning techniques such as the BCG matrix and Ansoff matrix, highlighting their roles in market analysis, decision-making, and product development. It concludes that organizations can achieve their goals by adhering to their vision and mission statements and utilizing strategic tools to maintain market stability and develop effective plans and procedures. Desklib offers a wealth of similar resources for students.

Business Strategy
Task 1

Table of content
 Introduction
 Business vision, mission and objectives inform strategic
planning
 Factors considered in preparing strategic plans
 Evaluation of strategic planning techniques
 Conclusion
 References

INTRODUCTION
• It is necessary for every business organisation to
formulate strategic planning, this helps for achieving
company goals and objectives.
• With the help of business strategies company easily
identify their performance and profitability.

Business mission
Mission: They mainly works
for providing better products
and services that helps to
fulfil l the customer needs
and wants.

Vision and core competencies inform
strategic planning
There are following aspects of VWAG:
Vision: Cited company want to gain profitability and growth
in long run.
Goals: Cited organisation main aim is to enlarge their
business in all area and corner of world
Objectives: Cited organisation made objectives is that to
give high level of inspiration to their workers so they work
for better productivity and profitability.

Continue
Core competencies: Cited
company mainly focus for
develop their distribution,
product improvement and
provide valuable services
to their target customers.

Factors has considered for strategic
formulation
Company understand these factors for achieving goals and
objectives. These are as follows:
Competition: They provide research and development
program that helps for company to know the needs and
demand of large number of customers.
Industry: Cited company has consider these above elements
that helps for removing grievances that exist in their
working and adverse effect of company success.

Continue
Strength and weakness: They examine their potential
customers and according to need and want they prepare their
plans and procedures. They are operating in more than 150
countries and their brand value is very high.

Evaluation of strategic planning techniques
Stars: In this element, it include high market share in
growing market.
Cash Cows: It include high market share in low growth
market.
Dogs: It states that company has face low market share
in low growing market.
Question mark: It sates that sometime business has face
low market share in growing market.
BCG matrix: With the help of this technique, company has largely
analyse those location and sites that helps for again profitability in
long term.

Continued...
Market development:In this factor, company has
largely sell their existing product in existing
market.
Diversification:Company has sell their new
product in new market segment.
Market Penetration:Company has sell their
existing products or goods in new market
segment.
Product development: Company has manufacture
and sell new product in existing market
segment.
Ans off matrix: This technique is very important for company success in
term of decision making, product pricing etc.

Conclusion
From above mentioned report, it is concluded that
organization can achieve their goals and objectives on basis
of their set vision and mission statement. BCG matrix and
Ans off matrix helps to maintain market stability and prepare
effective plans and procedures.

REFERENCES
Agyapong, A. and Boamah, R. B., 2013. Business strategies
and competitive advantage of family hotel businesses in
Ghana: The role of strategic leadership. Journal of
Applied Business Research. 29(2). p.531.
Aithal, P. S., 2016. Study on ABCD analysis technique for
business models, business strategies, operating concepts
& business systems. Browser Download This Paper.

Thank-You