Strategic Planning: Evaluating Vista's Current Business Strategy

This assignment solution provides a comprehensive analysis of strategic planning, emphasizing the importance of review in developing organizational strategy and business plans. It evaluates tools like the balanced scorecard for reviewing strategy, assesses an organization's market position using competitive environment analysis (Porter's Five Forces), and analyzes the competitive strengths and weaknesses of Vista's current business strategy. The solution covers deciding goals, benchmarking performance, and determining if goals are being met. It explores the threat of new entrants, bargaining power of suppliers and buyers, and the threat of substitute products, providing a detailed overview of strategic considerations for businesses.

STRATEGIC
PLANNING

CONTENT
• Explain the importance of review in the development of organisational strategy and business plans
• Evaluate the tools which can be used to review organisational strategy and business plans
• Review the position of an organisation in its current market using appropriate tools
• Analyse the competitive strengths and weaknesses of an organisation’s current business strategy and business plan

EXPLAIN THE IMPORTANCE OF REVIEW IN THE DEVELOPMENT OF ORGANISATIONAL
STRATEGY AND BUSINESS PLANS
It is crucial for an organisation to periodically evaluate is organisational strategy along with its overall
business plan in order to gain competitive advantage in the market. Given below are the reasons to
review organisational strategy and business plan in context to Vista:
• Deciding goals and objectives: The business of Vista can effectively develop and improve upon its
existing goals and objective through evaluation of its organisational strategy and business plan which
can provide it higher level of productivity.
• Benchmark performance: It will allow the management of Vista to set benchmark relative to their
performance giving them the ability to improve their quality standards.
• Succeeding or falling short: The review of organisational strategy and business plans can help the
organisation to determine if it is achieving its goals or falling short in its performance.

EVALUATE THE TOOLS WHICH CAN BE USED TO REVIEW ORGANISATIONAL
STRATEGY AND BUSINESS PLANS
There are various tools that an organisation can utilize in order to review its organisational strategy and
business plan. This tools allow the business to take appropriate steps to improve their productivity and
increase business performance. Given below are review tools to evaluate organisational strategy in
context to Vista:

Balanced scorecard:
The balanced scorecard is one of the most prominent strategic planning model. It allows an
organisation metrics related to both financial and operational aspects of the business. The model has
four concerns time, quality, performance and service along with cost. It is summed in four specific
reference points for goal-setting and performance measurements:
• Customers: The aspect of the tool will allow Vista to understand how customers view their
organisation.
• Internal Process: This aspect will help the management of Vista to improve upon thier internal
process and gain productivity.
• Organizational capacity: The organisation will be able to understand methods of growth and how
to adapt through this aspect of the tool.
• Financial: The organisation will be able to understand their potential profitability through this
aspect of the tool.

REVIEW THE POSITION OF AN ORGANISATION IN ITS CURRENT MARKET USING
APPROPRIATE TOOLS
It is a tool which is used by company for analysing the competitors or competitive environment. The
company which is chosen for evaluating the competitive market are Vista. The factors which are
considered by organization for analysing competitors are -
• Threat of new entrants – It refers to entering of new competitors product with new specifications in
the market. Vista is a multinational company and company is mostly focused on providing best
quality products and services to consumers. In context to Vista, they used new ideas survive in the
market between competitors. Because when any new product are entered in market then definitely it
creates threats to organization regarding their price, specifications and so on.
• Bargaining power of suppliers – It refers to put the pressure on organization by the suppliers in
various ways. It includes increasing their prices, reducing their product quality and also by reducing
their product availability. It is important for suppliers because without bargaining suppliers get did
not get profit. Without these method organization and supplier both are not able to main the supply
chain management.

• Threat of substitute products – It occurs when outside or competitor companies offers more
attractive substitute products at lower cost. Substitute is a very important part for consumers. So it is
important for organization that they must implement effective strategies fer decreasing the threats of
other competitors substitutes in market. These substitutes is very essential for fulfilling the basic
needs of consumers.
• Bargaining power of buyers – It refers to put pressure on organization by the customers for
achieving best quality products and better customer service at lower price. It is very important for
consumers to receive right product with the help of substitute. In context to Vista management must
use various strategies regarding their price of the product and others. It leads to increase the profit of
organization.

ANALYSE THE COMPETITIVE STRENGTHS AND WEAKNESSES OF AN ORGANISATION’S
CURRENT BUSINESS STRATEGY AND BUSINESS PLAN
Given below is the analysis of the competitive strength and weakness of Vista in its current business
strategy and business plan.
Strength Weakness
• Highly effective in its operations through development
of optimal business strategy developed by experience in
the market.
• Highly skilled employees and trained staff members all
the strategy of the organisation to be effective in
achieving its goals and objectives.
• The business plan of the organisation has gaps relative to
employee engagement as well as effective
communication between internal department.
• The organisation does not have flexibility in its overall
business strategy which is reducing their overall
productivity.

THANK YOU