Strategic Business Plan: A Case Study of Waterbuoy's Market Strategy

This report provides a comprehensive analysis of James Halliburton's Waterbuoy's business strategy, focusing on its mission, vision, goals, and objectives. It examines the company's core competencies and the internal and external factors influencing its strategic formulation. The report evaluates the effectiveness of techniques like SWOT analysis, BCG matrix, and Porter's Five Forces model in formulating strategic business plans for Waterbuoy, highlighting their advantages and disadvantages in the context of the company's operations and competitive environment. The document is available on Desklib, a platform offering a variety of study tools for students.

TASK 1

Companies mission, Vision, core
competencies goals and objectives
The company James Halliburton's Waterbuoy is
selling luminous balloons. The organisation is
manufacturing large size of balloons that
contains Led lights in them which cann be
switch on and can be spotted from up to mile
away.

Mission
The mission statement is short statement that describes
the purpose, scope, philosophies, activities of firm.
The mission of the James Halloburtons Waterbuoy
company is to increase its sales of balloons by
designing innovative balloons.

Vision
Vision statement describes the desired position
that company wants to achieve in the future.
The vision of the company is to become top
seller of balloons.

Goals
Goals assists firm, in identifying the things that
are to be achieved by enterprise.
The goals of Halloburtons firm is to produce
innovative balloons to meet the demands and
expectation of customer.

Objectives
Objective of organisation refers to the outcome
that thee enterprise would loke to accomplish.
The objective of the organisation is to gain
customer loyalty by providing enhanced
quality of balloons.

Core competencies
Core competencies refers to the strength of the
form that helps firm in gaining competitive
advantage over its competitors.
The core competencies lie in the technology
used by organisation for producing
innovative products.

Factors that required special
consideration
There are various factors that require special
consideration whole formulating strategy.
These factors can be categorise into two
internal and external factors.

Internal factors
The various internal factors include organisational
culture, environment, policies, code of conduct,
ethics, human resource, leadership style, management
etc.
These factors have direct effect on the strategic
formulation process. For successful formulation of
strategy it is required by Halloburtons Waterbuoy to
consider these factors.

External factors
There are various external factors that have direct impact on
strategy formulation process of organisation. These
elements are uncontrollable and unmanageable. The
various external factors are-Political factors, Legal
factors, Economic factors, Social factors and
Technological factors

Effectiveness of techniques used
while formulating strategic business
plans
Swot analysis technique: SWOT analysis is used by
Halloburtons Waterbuo organisation in order to analyse
their current business status. This techniques assist firm in
identifying its strength , weaknesses opportunities and
threat.

Advantages of Swot analysis
Swot analysis techniques enables business unit
to comprehend their strength and enhance
their brand image.
This technique provides opportunities to firm in
order to identify its weakness.