Report: Strategic Planning, Implementation, and Business Strategy

This report presents a comprehensive analysis of business strategy, designed for a seminar for newly recruited strategy interns. It covers the strategic planning process, including definitions and examples of corporate vision, mission, objectives, core competencies, and competitive advantage. The report includes an informational brochure discussing the steps of the strategic planning process. Furthermore, it explores environmental and organizational audits, stakeholder analysis, and the formulation of new strategies for sustainable growth. It also delves into strategy implementation, resource requirements, and the evaluation of targets and timescales. The report aims to provide a holistic understanding of business strategy, from initial planning to successful implementation, focusing on creating long-term, sustainable growth for client companies.

Final Unit Grade: Pass Merit
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Learning
Outcome Learning
outcome
Assessment
Criteria
In this assessment you will have the
opportunity to present evidence that shows
you are able to:
Task No Evidence
(Page no)
LO1
Understand the
process of
strategic
planning
1.1 explain strategic contexts and terminology
– missions, visions, objectives, goals, core
competencies
1
1.2 review the issues involved in strategic
planning
1
1.3 explain different planning techniques 1
Be able to
formulate a
new strategy
2.1 produce an organisational audit for a given
organisation
2
2.2 carry out an environmental audit for a
given organisation
2
1

LO2
2.3 explain the significance of stakeholder
analysis
2
LO3 Understand
approaches to
strategy
evaluation and
selection
3.1 analyse possible alternative strategies
relating to substantive growth, limited
growth or retrenchment
3
3.2 select an appropriate future strategy for a
given organisation
3
LO4 Understand
how to
implement a
chosen
strategy
4.1 compare the roles and responsibilities for
strategy implementation
4
4.2 evaluate resource requirements to
implement a new strategy for a given
organisation
4
4.3 discuss targets and timescales for
achievement in a given organisation to
monitor a given strategy.
4
Learner
declaration
I certify that the
work submitted for
this assignment is
my own and the
research sources
are fully
acknowledged.
Student signature:
Assessor’s Name
LO Learning
outcome
Assessment Criteria Feedback Assessor’s
Decision
Page
no
LO1
Understand
the process of
strategic
planning
1.1 explain strategic contexts
and terminology – missions,
visions, objectives, goals,
core competencies
2

1.2 review the issues involved
in strategic planning
explain different planning
techniques
LO2
Be able to
formulate a
new strategy
2.1 produce an organisational
audit for a given organisation
2.2 carry out an
environmental audit for a
given organisation
2.3 explain the significance
of stakeholder analysis
LO3 Understand
approaches
to strategy
evaluation
and selection
3.1 analyse possible
alternative strategies relating
to substantive growth,
limited growth or
retrenchment
LO4
Understand
how to
implement a
chosen
strategy
3.2 select an appropriate
future strategy for a given
organization
4.1 compare the roles and
responsibilities for strategy
implementation
4.2 evaluate resource
requirements to implement a
new strategy for a given
organization
4.3 discuss targets and
timescales for achievement
in a given organisation to
monitor a given strategy.
In addition to the above PASS
criteria, this assignment gives you
the opportunity to submit evidence
in order to achieve the following
MERIT and DISTINCTION grades
Grade Descriptor Indicative characteristic/s Contextualization Assessor’s Decision
M1 Identify and apply
strategies to find
An effective approach to study and
research has been applied.
To achieve M1, you will have
conducted thorough research of the
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appropriate solutions business opportunity using a wide
range of sources. Key recent
developments within the chosen
business area must be examined.
M2 Select / design
and apply appropriate
methods / techniques
A range of methods and techniques have
been applied.
To achieve M2, you will utilise a
range of applicable Marketing and
Business Strategy methods and
techniques
M3 Present and
communicate
appropriate
findings
Communication is appropriate for
familiar and unfamiliar audiences and
appropriate media have been used.
To achieve M3 the work you present
will be done so through appropriate
mediums, clearly appropriate for
both senior management as well as
external investors.
D1 Use critical
reflection to evaluate
own work and justify
valid conclusions
Self-criticism of approach has been made To achieve D1 you will have
conducted an effective critical reflection
and clearly justified your conclusions.
D2 Take
responsibility for
managing and
organising activities
The importance of interdependence has
been recognised and achieved
To achieve D2 you will have
demonstrated a high level of group
cohesiveness and recognition of
each other’s individual contribution
D3 Demonstrate
convergent /lateral /
creative thinking
Innovative and creative thought has
been applied
To achieve D3 students will adopt a
fresh, creative approach to its
understanding of the market and its
application of theoretical models
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NB: For detailed Feedback
please refer to individual script
annotation
Internal Verification of
Assignment Brief
(Approved / Final Version)
IV Name (print) Date
General Comments/ Action
Plan
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Assessor Signature: Date
Student Agreement:
I understand the feedback
given to me and agree to carry
out the action required by the
dates indicated
Student Signature: Date
Assignment brief
Assignment title Business Strategy
Scenario
Imagine that you have worked as a Strategy consultant
with one major business consultancy firms in London,
for just over three years. As an experienced strategy
consultant you were expected to evaluate the client's
corporate vision and propose environmental analysis,
organisational plans and solutions for a holistic
strategic approach. You have been working with many
clients from retail and finance to governmental
agencies and charities. Your role has been to audit,
and implement new strategic choices for your client’s
companies to create long-term, sustainable growth.
Today, your CEO asked you to deliver a seminar to
new group of newly recruited strategy interns. The
seminar must be brief all interns with business strategy
theory and it’s application to one of your previews
client companies. After the seminar, the CEO required
a comprehensive report, to consider you for a
promotion.
TASK 1 - LO1: Understand the process of
strategic planning
You are required to:
a) Discuss the steps of the Strategic Planning
Process. In this discussion, you should include
definitions and examples for corporate vision,
mission and objectives along with brief
descriptions of the concepts of ‘core
competencies’ and ‘competitive advantage’.
b) The CEO asked you to handout a bespoke
brochure to all interns. Produce a 2-page
informational promotional brochure about
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the role of strategy and issues involved in
Strategic Planning. This brochure should
include brief descriptions of what is meant by
strategic planning and the role of strategy. You
can also illustrate Mintzberg, ‘Five Ps for
Strategy’, two problems in strategic planning
and, two different planning techniques used.
Only two small images can be included. Copy
and paste a screenshots of the 2 pages of the
brochure that you have created either with MS
Word or MS Powerpoint. Also provide a brief
discussion and speaker notes that will
explain the content of the promotional brochure
after you hand it out during the Seminar.
c) Discuss in details, the utility and application of
either the BCG matrix (Boston Consulting
Group) as a growth planning technique OR the
SPACE matrix as a strategic positioning
technique for managers.
(This task provides evidence for Learning Outcome
1, Assessment Criteria 1.1, 1.2, 1.3.)
TASK 2 - LO2: Be able to formulate a new
strategy
You are required to:
a) Explain to the interns how the ANSOFF Matrix
OR the SWOT Analysis has helped you to
carry out an organizational audit for one of your
client companies. You should include a diagram
and detailed examples from any company, in
order to pass this criteria.
b) Discuss with the interns, how your firm would
carry out an environmental audit for one of your
clients by either utilizing the PORTER Five
Forces OR the PESTEL framework. In your
answer you should provide specific examples
from any industry and also include a diagram.
c) The CEO expects you to explain to the interns
the significance of stakeholder analysis, that is
usually carried out for your client companies by
mapping stakeholders using the MENDELOW
Matrix. Select one company and use a
diagram to aid the interns understand how the
Mendelow Matrix is used as a tool for
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stakeholder analysis.
(This task provides evidence for Learning Outcome 2,
Assessment Criteria 2.1, 2.2, 2.3 )
TASK 3 - LO3: Understand approaches to strategy
evaluation and selection
You are required to:
a) During the seminar, one intern asked you to
explain the differences between Vertical
Integration AND Horizontal integration when
used by managers as a substantive growth
strategies. Provide a detailed explanation, with
one company example for each strategy and
also highlight four major differences when
comparing Vertical and Horizontal integration
growth strategies.
b) The CEO asked you to produce a one-page
handout on selecting an appropriate future
strategy for one of your firm’s clients. This
handout should illustrate one future market
entry strategy such as Organic Growth OR
Mergers and Acquisitions (M&A) OR
Strategic Alliances. Your answer should
include an example of one organization that
you would suggest this selected market entry
strategy. FOR THIS POINT MAKE A
BROSHURE
(This task provides evidence for Learning Outcome 3,
Assessment Criteria 3.1, 3.2).
TASK 4 - LO4: Understand how to implement a
chosen strategy
You are required to:
a) Your seminar is on your final day and the
interns are interested in strategy
implementation. Discuss three roles and
responsibilities, and three business
activities that are necessary for proper
implementation of the selected strategy.
Additionally highlight which human, financial
and material resources are indispensable
during strategy implementation.
For the selected strategy in Task 3 b, produce a Gantt
Chart as a proposed timeline for agreed strategy
targets and milestones. You can utilise either MS Excel
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or MS Project and it is expected that you explain all
steps in the implementation of the strategy selected for
Task 3b. (This Task provides evidence for Learning
Outcomes 4, Assessment Criteria 4.1, 4.2, 4.3)
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1.1 explain strategic contexts and terminology – missions, visions, objectives,
goals, core competencies
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INTRODUCTION
Business strategy helps in achieving the organizational objective with the help of resources. It plays a
significant role in making firm sustainable with guiding it in a way to run its operations in a manner that
maximum profits with lowest level of risk and expenses can be gained. Further, report talks about vision,
mission and core competency of firm. It also emphasizes on the strategic planning process and BCG matrix
which helps in analyzing the competitive position in the market.
TASK 1
1a. Discuss the steps of the Strategic Planning Process. In this discussion, you should include definitions and
examples for corporate vision, mission and objectives along with brief descriptions of the concepts of
‘core competencies’ and ‘competitive advantage.
“Strategy means making clear cut choices about how to compete. (Jack welch ),is a commitment to
undertake one set of action rather than another (Oster ,S). Without a strategy the organization is like a ship
without a rudder (Ross and Kami) .Michael Porter said that strategy is a unique position characterized by
distinct set of unique activities that fit driving competitive advantage and sustainability. Strategy is the
direction and scope of an organization over the long term which achieves advantage for the organization
through its configuration of resources within a challenging environment to meet the needs of markets and to
fulfill stakeholder’s expectations” (Johnson and Scholes), managers use the term differently,for example
some include goals and objectives as a part of strategy while other make firm distinctions between
them .”Strategy is a unified, comprehensive, and integrated plan designed to ensure that the basic objectives
of the enterprise are achieved “(Glueck,1980:9). Human nature insists on a definition for every concept. But
the world strategy has long been used implicitly in different ways even if it has traditionally been defined in
only one.
Explicit recognition of multiple definitions can help people to manner through this difficult field .
Henry Mintzberg give Five Ps for strategy :a plan ,ploy(tricks) ,pattern ,position, and perspective. Strategy
include stapes like milestone stapes, resources allocation ,actions ,form and comprehensive master plan (goal
and objective). Strategy is a plan some sort consciously intended course of actions ,a guideline to deal with a
situation .Strategy is a pattern, a pattern in a steam of actions(Mintzberg and Waters,1985). Strategic
Planning Process is a systematic process of forecasting the future business environment and deciding on the
most appropriate goals, objectives and positions for the best exploiting that environment. Organizations need
to develop plans in short, medium and long term to take them forward into the future. Planning is an activity
and also a process, the plan should show your goals for the next couple of years .
1)Mission and vision are the steps for strategic planning process.
We need to revise and adjust all stapes because the environment is always changing and the performance is
not always as expected by us ,the structure can change and new opportunities can come into fruition.
Mission is the reason of existing now,purpose,scope,value and to not be a blank statement.
The missions of an organization is a general expression of the overall purpose of the organization or its
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reason on entry. “
Mission has five characteristics :formulation of objectives,differentiates the company business focus,relevant
to all stakeholders and exciting and inspiring”(Thompson &Martin 2005:70).
A company’s mission is best approached from a customer oriented business definition.
Mission reflects the purpose of an organization including the nature of its business and who the customer
base is .Vision is what an organization would like to achieve or accomplish in the mid to long term ,desired
future state ,the aspiration ,dream for future.Vision is where the organization is headed and what it intends to
be ,brief and memorable ,inspiring and challenging creates excitement,descriptive of an ideal state provides
guidance and identify with the vision .
The vision is in effect a statement of strategic intent that serves to focus specific goals and objectives.
A strategic vision is a roadmap of a company’s future ,the direction it is headed,the business position it
intends to stake out,and the capabilities it plans to develop.
2) Setting objectives are yardsticks for tracking an organizations performance and progress.The purpose of
setting objectives is to convert managerial statements of strategic vision and business mission into specific
performance target.This vision aim can then be broken into objectives ,the objectives set out more
specifically how to achieve the aim,goal.
Setting objectives that require real organizational stretch helps build a firewall against complacent casting
and low grade inprovements in organizational performance
Objectives have to be smart,specific,measurable,achievable,realistic and time.
Objectives are the battle plan,the stepping on the path towards the achievement of my goal.
The hierarchy of objectives are strategic objectives,functional objectives and individual objectives.
This competence develope in a variety of ways:experience,talents and potential,quality of co-ordination
3)Crafting a strategy,a winning strategy needs to be a top priority managerial task in every
organization.Without a strategy we don’t have prescription for doing business.no roadmap to competitive
advantage,we can not pleasing customers or achieving objective.
An organizations strategy consist of the actions and business approaches management employes to achieve
the targeted organizational performance.
A companys actual strategy is something managers must shape and reshape as events transpire outside and
inside the company.
Strategy is both intended and adaptive.
4)Implementing and executing the strategy aim must be to create strong fis between the way things are done
internally to try to execute the strategy and what it will take for the strategy to succeed.
The stronger the methods of implementation fit the strategys requirements,the better the execution and the
better the odds that performance target will be achieved.
The principal aspects of implementing and executing the strategy are: developing budgets,motivating
people,creating a company culture (google),the best practice to have the autorithy towards know who is the
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