Strategy, Action Plans & Core Competencies in Business Development

This essay provides a comprehensive analysis of strategic management, emphasizing the importance of action plans and core competencies in achieving a sustainable competitive advantage for organizations. It delves into the role of action plans in outlining steps for achieving organizational goals, highlighting their significance in resource allocation and vulnerability creation. The essay also critically examines the role of core competencies in developing a competitive edge, using examples to support arguments on how unique skills contribute to customer value and brand differentiation. Furthermore, it evaluates the benefits, costs, and risks associated with using innovation as a driver for long-term organizational development, discussing how innovation can enhance products, address legal and environmental issues, and foster stability, while also acknowledging potential risks related to R&D investment and market uncertainty. The conclusion underscores the importance of workforce inclusion and strategic decision-making for enhancing a company's brand image and overall success.

INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Section 1: Strategy is the comprehensive action plan that identifies the long-term direction for
an organization and guides resource utilization to accomplish organizational goals with
sustainable competitive advantage”.............................................................................................3
CONCLUSION................................................................................................................................7
REFRENCES...................................................................................................................................8

INTRODUCTION
Strategic management is the process which helps an organisation in farming procedures
achieving objectives to make competitive advantage achieve accomplishing task. Formulating
and implementing of various processes which make sure that task activities are completed as per
the procedure which has been decided by an organisation or its higher management. The main
purpose of strategic management is to provide direction plans and policies in order to develop a
design which helps an organisation in going itself within the market that lead upon fusion of
resources and implementation of plan. Also it helps in developing properties within an
organisation to perform their day to day operations and take appropriate decisions regarding
them. Current essay is based upon companies in action plan and competitive advantages which
are sustainable in nature. In second direction of the essay role of core competencies in
developing sustainable competitive advantage is has been discussed evaluation of cost and risk in
relation to innovation.
MAIN BODY
Section 1: Strategy is the comprehensive action plan that identifies the long-term direction for an
organization and guides resource utilization to accomplish organizational goals with
sustainable competitive advantage”.
Action Plan means the process to which and detailed plan is prepared in order to outline
actions which are required by an organization for developing approach which leads towards
growth and sustainability. The plan basically helps in setting up sequences through tips to be
taken in consideration while targeting goals and objectives which is set by an organization.
Through action plan an organization is able to prepare path way making goals and objectives
achieved by an organization in effective manner (Cao, 2018). Also this pan helps in creating
vulnerable resources that makes better product and services developed by the organization.
Importance of action plan is that it helps in marketing strategies and take small step towards
achieving progress in relation to sustainability. It's working over those factors and perspective
which eventually leads an organization to develop approach towards achievement of goals. There
are certain steps which are followed in order to form in Action Plan that is defining problem,
evaluation of the situation is done under the step in order find out the issue which has been raised
because of the problem existing. Collection and analyze the data: This is another important step

which is used in order to collect data about the previous performance of the organizations and
what issues are being faced at what percentage. Through action plan complexity gets reduced
within organization making better and effective strategies formed. (Drysdale and Gurr, 2016).
Clarify and priorities problem: Disturb page helpful in condition where multiple problem exist
and time is very less to solve them. Smart goals third step which is used in order to make sure
that the right approach is applied in order to solve the problems and achieve the goal out of it.
Implementing solutions: Solution for being applied over the issue which is exist. Monitoring and
evaluation: In this all kinds of possibilities which could occur is being kept in mind. Then
methods applied get monitored with evaluation turn with the help of tools and techniques used
within it. In to deal with various aspects related to competitive development action plan is
prepared which makes competitive edge achieved. The Competitive Analysis is that part of
business action plan which helps in analyzing competition existing within the market. This is
based over finding out both present and potential competitors that may enter within the market.
The analysis helps upon making organization work over loopholes that can hinder its progress
within market. Also, analysis helps in making organization develop better product and services.
(Khoe, 2017). Strategic planning is a process by which leaders of organizations decide their
long-term vision as well as their organization's goals and objectives. The process also includes
determining the order in which those goals should be achieved so that the organization can
achieve its stated vision. The link between strategic management and competitive advantage is
that such strategies helps in making an action more successful in order to achieves success with
making customers needs satisfied. Also, strategic management makes functions of organization
performed in organized and disciplined manner leading towards better vision developed by an
organization.
Further, various advantages are there of action plan that is It makes the goal more clear:
It is sometimes expected that when a group of individuals gets together to form an action plan,
they will all be working toward the same goal, but this is rarely the case. People interested in
influencing adults, empowering women and girls, working with young men, and creating legal
change might attend a conference on forced child marriage, for example. Through action plan
major focus stays upon goals and its achievement which makes changes to be done in more
effective manner. It makes various opportunity provided over project establishing path way for
goal accomplishment. Through action plan projects are completed within time limit specified for

it. Also action plan leads upon improving projects quality making best results produced. It has
the ability to bring people together as action plans works upon aspects like communication,
management and diversity within work place which makes projects and task complete within
time limit. It helps upon making discipline attained within an organization through developing
unity with employees which makes coordination developed making task completed in effective
manner. It aids in the formation of agreement: Agreement on priorities can be reached through
the action planning process, just as it may be obtained through consensus on the goal. Everyone
participating can add their thoughts, and the most essential acts will emerge gradually via
discussion, negotiation, and compromise(Marek and et. al., 2016).. These agreement leads upon
developing strong structure which makes innovative ideas formed in relation to action plan.
Through these agreement action plan creates more impact by bringing innovation within the
process making accurate goals achieved. Action plan develops collective ownership leading upon
achieving task with more effectiveness. Also it leads towards collective effort produced positive
approach over developed in relation to competitive edge within market. This discussion has
explained about action plan and its importance in relation over competitive advantage. Section 2:
Comment critically on the role of ‘Core Competence’ in developing Sustainable Competitive
Advantage (SCA) for an organisation. Use examples from the literature to support your
arguments.
According to (Mathur, 2019) an organization requires to hold competitive advantage by
developing skills helping over increasing sales and profitability. Organizations in order to deal
with competition within market should focus over its product and services. Also through
innovation competition can be handled with more effectiveness. These themes will set
resourceful and savvy businesses apart from the competition. The concept makes building of
sustainability within an organization which makes competitive progress attained by an
organization. In relation to modern market the concept has helped in making better approach
achieved upon business environment. This led upon developing better competitive strategies
helping in building brand image for an organization. Also core competencies physical and
financial assets makes proper budget prepared in relation to product and services development.
This makes product differentiation easy and effective helping organization distinguish its product
form its competitors. This makes competitive edge achieved by contributing towards customers
value. Through this customer base gets formed for an organization which makes customer of all

segments targetted. It contributes to the creation of customer value. Core competences also aid in
the creation and development of new goods and services.
A good SCA satisfies three requirements: Customers are interested in what this SCA has to offer.
The company does it better than its competitors giving it a competitive advantage. Even with
substantial resources, the SCA must be difficult to reproduce or replace. Companies with a
central and unique aspect to their business have core competencies. A factor that offers
competitive advantage over others is their core competency. Domino's, for example, has a core
skill in home delivery, while Apple and Google have a core competency in innovation.
Apple is difficult to mimic because the word "innovation" is synonymous with the company.
This is due to Apple's ongoing introduction of revolutionary goods such as the iPod, iPhone,
Macbook, and others. As a result, Apple's primary expertise is tough to duplicate. Take the core
competency of any strong organization, and find that imitating the core skill is really tough
because the competency was established over a long period of time. This shows the importance
of core competence in relation over sustainable competitive advantage which makes an
organization covers about various aspects in relation over advantage gained upon organizational
development taking place. Evaluate the benefits, costs and risks of using ‘innovation’ to drive
long-term organization development, illustrating your answer with examples of how this
approach to formulating and deploying strategy works in practice.
According to(Rodrigues, Ferreira and Silva, 2020), productive gains are achieved with
the help of innovation making product and services enhanced as per customers demand. This
helps upon making flexibility within process of business. Through innovation long terms success
is developed within an organization as innovation leads over making stability created within an
organization. Through innovation resources are used in innovative manner making organization
develop plan for long term success. Thus it is an important aspects of organization growth and
action plan development. Also through such strategy legal and environmental issues are solved
making product base organization work over environmental issues like carbon emission and
selvage treatment as per legislation formed regarding it. Also legislation are required to be
improved making environment protection done with more effectiveness. More added value this
is one of most important factor which is based over the USP of the product making customers get
attracted towards it. This makes organization deal with budget issues. This makes various aspects
like improved staff retention, motivation and easier recruitment covered holding significance in

relation over organization. Its makes potential developed in relation over innovation. Innovation
makes business develop more perspective in relation over places making work better. This makes
expansion possible of an organization. (Meredith and Zwikael, 2019). RISKS OF
INNOVATION: A strategy of investing in R&D and innovation can bring significant rewards,
but it is not without risk. Creating a product line: innovation would almost likely help an
company with a single product or a narrow product range. A greater product range allows for
higher sales and profits while also lowering risk for shareholders.
CONCLUSION
It is clear from this file that a business is capable of having a diverse impact on its
personnel. This will also aid in including employees in the decision-making process inside a
company. It is extremely beneficial to a company's brand image, which aids in the raising of
funds and profits, as well as the identification of talent. This is beneficial in terms of obtaining
funds and identifying talent. It also increases profits as the fund grows. This strengthens the
brand's image and aids in raising the company's profile in order to attract top personnel and
increase profits. Workforce inclusion strategies will be implemented.

REFRENCES
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