HND Business Level 5: Strategic Planning, Factors, Unicorn Grocery

This report provides an overview of business strategy, focusing on strategic planning, business missions, visions, goals, and core competencies. It examines the factors considered when creating strategic plans, including the impact on employees, and evaluates the effectiveness of various techniques like the BCG matrix, which Unicorn Grocery uses in developing strategic plans. The report concludes that both internal and external factors significantly impact strategic planning and emphasizes the importance of effective business strategies for achieving organizational goals and retaining a competitive market share. Desklib offers a range of study tools and solved assignments to aid students in understanding business strategy concepts.

Business Strategy

Table of Content
 Introduction
 Business missions, visions, goals and core competencies
 Factors that considered when creating strategic plans
 Effectiveness of techniques used
 Conclusion
 References

INTRODUCTION
An organisation prepares business strategy for retaining
long time in market. In this presentation mentions about
the vision, core competencies to business. There are two
main factors which can impact on developing strategic
plans.

Business missions, visions, goals and core
competencies
Each business enterprise firstly set a proper structure and
also prepares guidelines and after this they start their
working activities. With the help of this, they can easily
achieve its target. It is necessary to Unicorn Grocery to
make effective business strategies and also policies to
survive at market place for long time period.

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The vision, core competencies, mission, goals and
objectives of this business organisation are given below
as above:
Vision- It is a statement in the written form which shows
that in future a business firm wants to see itself.

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Goals- It is a purpose that a business industry wants to
achieve. The goal of this business organisation is that it
wants to be a leading company in the field of grocery or
retail sector. It is the duty of top management to decide its
goals in an appropriate manner.

Factors that considered when creating
strategic plans
To dealing with any kind of issues
and problems, it is necessary to
formulate an effective business
strategic plan. It is included as the
planning process of an organisation
which helps in evaluating some
factors which can impact on the
employees as well as managers.

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Employees- They work in a company by using their skills,
knowledge and also capabilities. For creating a positive
impacts on staff members, it is necessary for managers to
provide training to them and increase their working
efficiency, from this they will work properly and will also
helps in making the strategic plan.

Effectiveness of techniques
The business strategies are helpful
in making business effective
and also achieving the goals
and aims of business in a
proper manner. It also helps in
making the business project
successful and also get the
chance to enhance the business.

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Stars- It shows the high growth rate along as well as
the high share of market. So in regards to this, firm
has a requirement to more funds in context to make
effective decisions related to business and also for
retain at market place for long time period with high
market share.

Conclusion
It has been concluded from the above report that the there
are internal and external both factors are impact in
developing the strategic plans. In this report also studied
that Unicorn Grocery also uses the BCG matrix in
developing strategic plans.

REFERENCES
Bharadwaj, A. and et. al., 2013. Digital business strategy:
toward a next generation of insights.
Campbell, D., Edgar, D. and Stonehouse, G., 2011.Business
strategy: an introduction. Palgrave Macmillan.