Business Strategy: Strategic Planning, Analysis and Tools for Retail

This report provides an overview of business strategy with a focus on strategic planning. It evaluates the goals, objectives, vision, and mission of a business, specifically Shine Retail Ltd., and analyzes the factors that must be considered during strategic planning. The report also explores various tools and techniques used in the strategic planning process, such as the BCG matrix. Furthermore, it touches upon the significance of organizational and environmental audits, along with stakeholder analysis, in formulating effective strategies. Desklib offers a platform for students to access this and many other solved assignments for their academic needs.

Business strategy
TASK 1

Content
• Introduction
• Evaluate goals, objectives, vision and mission
• Factors which can be considered in strategic planning
• Tools and techniques of strategic planning process
• Conclusion
• References

Introduction
Business strategic planning is fundamental for every
commercial entity; it helps management by providing
direction to all working activities. Formulation and
execution of strategies and policies also helps a company to
achieve its goals and objectives in a certain time period.

Evaluate goals, objectives, vision and mission
Goals - The major goal of Shine retail Ltd., is to create value throughout the supply
chain process and gain high customers satisfaction level.
Objectives - The main objective of Shine Retail Ltd., is to increase sales revenue
and annual turnover of the company by 105 in upcoming year. It helps firm to
achieve high competitive advantage.
Vision - Vision statement of the company is to become UK's largest retailing
company by providing qualitative and value added products to customers.
Mission - Managing healthy and positive relation with society by fulfilling all social
responsibilities.

Factors which can be considered in strategic planning
• Firstly, managers need to considered that they have proper
human resources who are liable to perform all working
activities and operations.
• The cultural of the organisation should be very flexible and
adaptable.
• There are certain external factors, such as- political,
environmental, ecological, social, technological and legal
factors which also affect strategic planning.

Tools and techniques of strategic planning process
BCG matrix is classified
into four parts, such as-
• Stars
• Cash Cows
• Dogs
• Question mark

Conclusion
As per the above presentation, there is described that
managers need to determine all goals and objectives
which they want to achieve from strategic planning. BCG
matrix is used is a staregic planning tool which provides
product market share and growth.

References
 Montgomery, C. A. ed., 2011. Resource-based and
evolutionary theories of the firm: towards a synthesis.
Springer Science & Business Media.
 Murthy, V. P., 2012. Integrating corporate
sustainability and strategy for business performance.
World Journal of Entrepreneurship, Management and
Sustainable Development. 8(1), pp.5-17.