Business Strategy Report: Strategic Planning and Techniques

This report delves into the realm of business strategy, focusing on the crucial aspects of strategic planning. It begins by outlining the core elements involved in the strategic planning process, emphasizing the importance of business missions, visions, objectives, and goals. The report then explores various techniques used in strategic planning, such as the BCG matrix and Porter's Five Forces, evaluating their effectiveness in different contexts. It discusses the significance of these techniques in making informed strategic decisions and achieving organizational targets. The report also highlights the importance of considering various factors when formulating strategic plans. This report provides a comprehensive overview of strategic planning, offering valuable insights into the key components and techniques used in the field of business strategy.

Business Strategy

CONTENT
 INTRODUCTION
 Elements are involved in strategic planning
 Effectiveness of techniques that are used in strategic planning
 References

INTRODUCTION
Strategic management is very crucial for managers but it
helps them in attaining their goals and objectives in
competitive market area.
There are number of elements and factors that are used in
strategic planning process of any company.

Elements which are involved in strategic planning of
a Volkswagen Company
Objectives: provide basis of taking strategic decision that help
in full-filling final set targets in efficient and effective manner.
Goals: helps in attaining final path that are made to reach final
goals.
Mission: formulates the rules and regulations that have to be
followed by each individual in organisation.
Vision: concentrates the future image of any company. Hence,
they have set goals that have to achieved in given time frame.

Effectiveness of techniques that are used in strategic
planning
BCG matrix is an effective
planning technique; that is
helpful to decide where to
invested and which products
will be discontinued.

Continue
Another planning technique is Porter's 5 model, it involves these
elements: -
 Bargaining power of suppliers
 Bargaining power of customers
 Threats of new entrants
 Threats of substitutes
 Industry rivals

REFERENCES
Bharadwaj 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.
Casadesus-Masanell, R. and Ricart, J. E., 2010. From strategy to business models and
onto tactics. Long range planning. 43(2). pp.195-215.

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