Business Strategy: Vision, Mission, Goals, Objectives & Techniques

This report provides an overview of business strategy, emphasizing the importance of vision, mission, goals, and objectives in strategic planning. It discusses factors to consider during strategy formulation, such as industry dynamics, competitors, and internal resources, and explores techniques like the BCG matrix for effective strategy development. The report concludes that a clear understanding of these elements is crucial for organizations to achieve their long-term goals. Desklib offers a wealth of resources, including solved assignments and past papers, to further support students in their understanding of business strategy.

Business Strategy
Task1

Table of content
• Introduction
• 1.1 Vision, mission, goals objectives informing in strategy planning
• 1.2 Factors considered in strategy formulation
• 1.3 Techniques used in business strategy development
• Conclusion
• References

Introduction
Business strategy is a method through which an organisation can be able to
perform all its actions and performance in an appropriate manner that can be very useful
for a firm to attain its objectives and long term goals and standards. Volkswagen is a
most renowned company in the sector of auto-mobile. Its most sold vehicles are
Volkswagen Passat, Volkswagen Beetle and Volkswagen Golf these are having very
attractive features and are bought by customers in very large number.

1.1 Vision, Mission, Goals Objectives Informing In
Strategy Planning
Business strategy is a process through which plans are formulated implemented and then
reviewed so that organisation can be able to attain its aims and objectives. While implementing
any business strategy it is required to Bettle coffee shop to determine its vision, mission, goals
and objective, so as to perform effectively in target market.
• Mission
• Vision
• Objectives
• Core competencies
• Goals

1.2 Factors considered in strategy formulation
Key arranging is a component which is exceptionally vital for a firm to execute as it
will manual for reach and meet those principles and targets.
• Industry
• Competitors
• Resources
• Strengths and weaknesses

1.3 Techniques Used in Business Strategy Development
As to develop a business strategy it is very essential for an organisation to use effective
tools and techniques that could be very helpful in carrying out operations and functions
of a firm in more effective and appropriate manner. BCG matrix is one of the best
techniques that can be adapted by Volkswagen company as to make its strategy.
• Stars
• Cash cow
• Dog
• Question marks

Conclusion
This report has concluded about mission, vision, goals and core competencies that is
necessary for a firm at time of making several strategies. It has been understood
that company should use BCG matrix so that plans can be made accordingly. There
are many factors that are affecting

References
Astrachan, J.H., 2010. Strategy in family business: Toward a multidimensional
research agenda.Journal of Family Business Strategy.1(1). pp.6-14.
Bharadwaj, A. and et.al., 2013. Digital business strategy: toward a next generation of
insights.
Burlton, R., 2010. Delivering business strategy through process management. In
Handbook on Business Process Management 2(pp. 5-37). Springer Berlin
Heidelberg.
Campbell, D., Edgar, D. and Stonehouse, G., 2011.Business strategy: an introduction.
Palgrave Macmillan.