HND Business Strategy: Strategic Analysis and Planning for Azimo

This report provides a comprehensive analysis of Azimo's business strategy, focusing on its strategic planning processes, goals, objectives, mission, and vision statements. It delves into the components that should be considered when formulating new strategic plans, such as administration, innovation, stakeholder engagement, and communication. The report also evaluates the effectiveness of various strategic planning techniques, including Ansoff's Matrix (market penetration and market development) and the BCG Growth Sharing Matrix (dogs and cash cows). By examining these elements, the report aims to provide insights into how Azimo can enhance its market growth and maintain a competitive edge in the online money transfer industry. This document is available on Desklib, a platform offering a range of study tools and resources for students.

Business Strategy
TASK 1

Content
• Introduction
• Azimo goals, objectives, vision and mission statements
• Components which should be reckoned while formulating new strategic
plans
• Methods and their effectiveness which is used when developing strategic
pans of firm
• References

Introduction
• Business strategy is the managerial concept which provides right direction
to company so that it can accomplish its desired goals and objectives in a
systematic manner.
• In presentation Azimo company is considered which is a online money
transfer company.
• The goals, objection, mission and vision statement of this company is
discussed in detail.

Goals, objectives, core competencies,
mission and vision statement of Azimo
Every business enterprise is establishing to accomplish its desired results
which can be possible only if it provides high quality products and services
to its customers. To invest the funds in Azimo company firstly it is essential
for investors to know about profile.

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Managers of this company can formulate and implement a new strategy only
by considering its most important aspect which are follows as under:
• Mission: It is that statement of organization which represent its short term
goals. The mission statement of Azimo is that it wants to make money
transferring procedure easier so that everyone can get advantage from this.
• Vision: It is considered as that organisational statement which helps in
determined long term goals of business enterprise

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• Objectives: Every business enterprise have their own objectives for which
they have been established in market place. The major objective of Azimo
is profit maximisation and cost minimisation.
• Core competencies: It is those characteristic of organization which makes
it different from other business enterprises. Azimo is well known for its
quality products and services. As, it conducts various market research
which helps it in identifying actual needs and wants of its customer.

Components which should be reckoned
while formulating new strategic plansIn modern world, market competition is increasing day by day which is
putting various small and large organisations in danger.
It has become most difficult task for all companies to survive in such a
competitive market place.
So, it is highly important for manager of Azimo to evaluate all those factors
which can influence impact on its new strategy and these are follows as
under:
Administration: Success and failure of every business enterprise is largely
depends upon its management system.

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Innovation: To compete with market competitors, organization should use
high level of technology which can be possible only by developing new
strategies within work place.
Stakeholder: The are the main person who plays important role in strategy
formulation and implementation. The most important stakeholder of Azimo
is its customer and employees.
Communication: It is that most important factor which is highly required
for formulating and implementing brand new strategy within work place.
Managers and workers of Azimo are cooperates each other which helps them
in achieving organisational goals and objectives in most effective manner.

Methods and their effectiveness which is used
when developing strategic pans of firm
• To exist in competitive market place, it is highly important
for company takes helps of those tools and techniques
which can lead it to high level of organizational growth
and development.
• With the help of effective strategic business plan, Azimo
can easily enhance its market growth. There are various
methods which helps this company in developing its
important organisational plans, which are discussed
below:

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Ansoff's Matrix: This market strategy helps business managers in enhancing
growth of their organizations. It involves different strategies which are
given below:
• Market penetration: It is that strategy in which company increase its
organizational growth by improving its current products and services.
• Market development: This strategy is focus on new markets. According to
this, organization should expand their business in other markets so that
they increase their market share as well as financial profit. Azimo, is
currently using this growth strategy.

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BCG Growth Sharing Matrix: Bruce D. Henderson has developed this
model. This model involves various elements which are discussed in detail
below:
• Dogs: Mainly, this component of growth sharing matrix signify the low
market growth rate. It can not help organization in enhancing its existing
position within market place. It is considered as that quadrant condition in
which organization starts losing its capital and available resources.
• Cash cows: This growth strategy is used by those companies which needs
only organisational development.