Business Strategy Assignment Brief
Choose a Fortune 500 organisation operating in the UK which you will use as a basis for all your answers for this assignment. It may be a company which you work for or one you would like to work for or an organisation you are familiar with. Name your chosen organisation. Briefly describe the organisation.
LO 1 Process of strategy planning
Q 1.1 Define the terms and state the mission, vision, objectives, goals and core competencies of your chosen organisation.
- Define each of the terms , mission, vision, objectives, goals and core competences;
- Provide evidence of your chosen corporation’s mission, vision, objectives, goals and core competencies.
Q.1.2 For your chosen organisation, describe the key issues encountered in strategic planning.
- Define strategic planning
- Describe at least three strategic planning problems
- Provide examples of problems within internal analysis, external analysis or business level strategy.
Q.1.3 Compare and contrast two different planning techniques which you could apply to your chosen organisation.
- Define and describe two different planning techniques, for example, the BCG matrix, SPACE, PIMS or stakeholder mapping.
Q 2.1 Conduct an organisational audit on your chosen organisation by carrying out a SWOT analysis.
- Identify the strengths, weaknesses, opportunities and threats for your chosen organization
Q 2.2 Evaluate the business environment for your chosen organisation by doing a PESTEL analysis
- Describe the factors of PESTEL – Political, Economic, Social, Technological, Environmental and Legal
- Provide an example of each for your chosen organization
Q 2.3 Define and explain the significance of stakeholder analysis.
- Define the term stakeholder
- Explain stakeholder analysis
- Describe the importance of stakeholder analysis
Q 3.1 Define four strategic options available and explain how they may be implemented within your chosen organisation.
- Discuss a market entry strategy, for example, organic growth, growth by merger, acquisition or strategic alliances.
- Discuss substantive growth strategies which can include related and unrelated diversification.
- Discuss limited growth strategies which can include strategies such as market penetration and market development.
- Discuss retrenchment which can include turnaround strategies, divestment, and liquidation.
Q3.2 Using your analysis from Q3, recommend an appropriate future strategy for your chosen organization
- Present your answer as a report
- Include an introduction, background, advantages and disadvantages of various options with evidence from your chosen organisation and final recommendations.
- For example, if you suggest organic growth, you will need to justify your answer.
Q 4.1 Focusing on your recommendation in Q3.2, compare the roles and responsibilities needed to implement the suggested future strategic plan
- discussion about the activities needed to implement the plan
- A discussion about the roles and responsibilities you require to implement the plan
- Compare the different roles and the responsibilities needed to implement the plan.
Q 4.2 Identify and evaluate resource requirements you will need to implement a new strategy within your chosen organisation.
- Evaluate and identify human resources needed to implement the strategic plan
- Evaluate and identify financial resources needed to implement the strategic plan
- Evaluate and identify time and materials needed to implement the strategic plan.
Q4.3 From your responses in Q4.1 & Q4.2, create a Gantt Chart that shows the activities required and timescales for the implementation of your recommended strategy. Discuss the activities and targets to monitor your strategy
- Propose targets and timescales which you would use to monitor the implementation plan
- Formulate a Project plan and present it in a Gantt Chart using a project planning software