HND Business Level 5: Analyzing Strategic Planning & Evaluation

This report provides an overview of business strategy, focusing on strategic planning and evaluation. It begins by defining business strategy and its components, including mission, vision, goals, objectives, and core competencies. The report then analyzes the factors considered when formulating a strategic plan, such as future targets, current market situations, and customer analysis. It also evaluates techniques used in strategic plan evaluation, referencing the BCG Matrix (Stars, Cash Cows, Dogs, and Question Marks) and their applications. The report concludes with a list of references. Desklib offers a variety of study tools, including similar reports and solved assignments, to aid students in their academic pursuits.

Business Strategy

CONTENT
 Introduction
 Business mission, vision, goals, objectives and core
competencies
 Factors considered when formulating strategic plan
 Techniques in term of strategic planning & evaluation
 References

CONTENT
 Introduction
 Business mission, vision, goals, objectives and core
competencies
 Factors considered when formulating strategic plan
 Techniques in term of strategic planning & evaluation
 References

INTRODUCTION
 Business strategy is termed as plan of actions
comprising of rules and regulations used by firms in
order to achieve their goals and assigned targets.
 The mangers should effective monitor and execute
plans and policies in order to increase work
effectiveness.

Business Mission, Vision, Objectives, Goals and
Core Competencies
Business strategy are defined as plans and policies
which are used by business in order to achieve
desired aims and objectives and execute their
working in planned way sin order to achieve
success in gaining all their targets.

Cont....
The goals, mission, vision and core competencies of business are
described as:
Mission: It is an essential short statements which are designed by every
business in order to analyse the major purpose of business, current
positions at market places, potential buyers who will use their
services.

Cont....
Vision: It is the statements which reflects where firms wants
to see themselves established in future times thus
developing plans according to those policies
Goals: This is referred as positive outcome which are to be
achieved by firm in order to grow themselves.

Cont....
Objectives: These are the basic pillars according to which
whole business is performing their business operations
Core competencies: This is described as strengths of
business which helps them to bring difference from their
rivalry firms in order to place themselves at growth stage
in market places.

Factors while Formulating Strategic plan
Every business is focusing on making effective business
strategies in order to perform all types of business
activities in good ways in order to achieve success and
growth. All the predetermined short and long goals are
also achievable with helps of plans and policies.

Cont...
Factors evaluated by firms
are described as:
Future Targets
Current market situations
Customers

Future Targets
Future Targets: Firms should give attention on
achieving all their aims and objectives in order
to analyse and achieve their future targets
which results in attaining growth and
prosperity for business.

Current market situations
Current market situations: There should be effective
marketing strategies build in order to analyse current
trends at market places so that working can be executing
by formulating those strategies which are valuable in
achieving strong positions at market