Business Strategy In Corporations-Btechnd
|Purpose of this assignment|
This assignment looks at understanding the strategy process which includes strategic planning. This involves strategic context and terminology, strategic thinking, planning systems/issues and techniques. Strategy formulation looks at issues such as stake holder, environmental auditing, strategic positioning and organisational audit. An approach to strategy evaluation and implementation includes different entry strategies, realisation of strategic plans to operational reality, resource allocation, review and evaluation of chosen strategy.
|Task 1: Essay |
In this task you will be required to demonstrate a broader and general knowledge of businesses strategy. You will be required to discuss the process of strategic planning drawing examples from any organisation of your choice.
As a company grows and as the business environment becomes more complex the need for strategic planning becomes greater. There is a need for all people in the corporation to understand the direction and mission of the business. Companies consistently applying a disciplined approach to strategic planning are better prepared to evolve as the market changes and as different market segments require different needs for the products or services of the company (Dix and Mathews, 2002)
(LO1 AC 1.1, AC 1.2 and AC 1.3)
1.1 Provide an assessment of the extent to which business missions, visions, objectives, goals, core competencies inform strategic planning
1.2 Analyse the factors that businesses will have to be consider when formulating their strategic plans
1.3 Using evidence to support your answer evaluate the worth or usefulness of techniques used when businesses develop their strategic plans
Task 2: Case study of Coca Cola Company
For task 2 you will be required to demonstrate an ability to formulate a new strategy following a structured approach.
Coca-Cola Company is the world’s largest beverage company and is the leading producer and marketer of soft drinks. The Company markets four of the world’s top five soft drinks brands: Coca-Cola, Diet Coke, Fanta and Sprite. Read more: http://businesscasestudies.co.uk/coca-cola-great-britain/creating-an-effective-organisational-structure/a-global-and-local-strategy.html#ixzz3zbDRFZ3L
(LO 2 AC 2.1, AC 2.2, AC 2.3 and AC 2.4)
2.1 Carry out an organisational audit for Coca-Cola Company and provide an analysis of their current strategic position.
2.2 Carry out an environmental audit for Coca-Cola Company showing both micro and macro environment.
2.3 Assess the significance of stakeholder analysis for Coca Cola when formulating new strategy. You will explainwhy stakeholder analysis is important for Coca Cola Company when formulating a new strategy andsupport your answer with justifiable reasons.
2.4 Using the research and information collected about Coca Cola Company, present a new strategy Coca Cola Company can follow.
A framework for presenting your strategy could be as follows;
1. Where are we now? Review the current strategic position and clarify the mission, vision and values.
2. Where are we going? Establish Coca Cola’s competitive advantage and the direction the organization is heading.
3. How will we get there? Layout the road map to connect where they are now to where they going. Set the strategic objectives, goals and action items
Task 3: Essay
In this taskyou will be required to show an understanding of different approaches (market entry, substantive growth, limited growth or retrenchment) used by organisations to enter, grow or withdraw from a market. You should be able to evaluate and justify the selection of the strategy adopted.
|(LO 3 AC3.1 and AC3.2)|
3.1 Select an organisation(s) and analyse the appropriateness of their strategy in relation to market entry, substantive growth, limited growth or retrenchment. You must provide evidence to support the examples for your selected organisation(s).
3.2 Provide justification of one of the strategy discussed in 3.1. Your answer should be structured (using a model) and evidenced.
|Task 4: Implementation of selected strategy|
Implementation is the process that turns strategies and plans into actions in order to accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy(Olsen, 2007).
For this task you will be required to show an understanding of the how an organisation implement strategy and the responsibilities of personnel charge with this task.
Answers to the questions in this section should be developed based on the proposed strategy presented in task 2.4.
You must ensure you substantiate your answers with suitable examples and proper referencing.
|(LO4 AC 4.1, AC 4.2 and AC 4.3)|
Considering your proposed strategy presented in task 2.4
4.1 Assess the roles and responsibilities of personnel who will be charged with the implementation of the strategy.
4.2 Analyse the estimated resource requirements for implementing the strategy.
4.3 Evaluate how the use of SMART targets (give examples) can contribute to achieve the implementation of the strategy.
|Criteria Reference||To achieve the criteria the evidence must show that the student have:|
Assess how business missions, visions, objectives, goals, core competencies inform strategic planning
|1.2||Analyse the factors that have to be considered when formulating strategic plans|
|1.3||Evaluate the effectiveness of techniques used when developing strategic business plans|
|2.1||Analyse the strategic positioning of Coca Cola Company by carrying out an organisational audit|
|2.2||Carry out an environmental audit for Coca Cola|
|2.3||Asses the significance of stakeholder analysis for Coca Cola when formulating new strategy|
|2.4||Present a new strategy for Coca Cola Company|
|3.1||Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for a given organisation|
|3.2||Justify the selection of a strategy identified in task 3.1|
|3.3||Evaluate the usefulness of a motivational theory for managers|
|4.1||Asses the roles and responsibilities of personnel who are charged with strategy implementation for the given case study.|
|4.2||Analyse the estimated resource requirements for implementing a new strategy for a given organisation|
Evaluate the contribution of SMART targets to the achievement of strategy implementation for the given case study
Contextualisation grid to achieve higher grade
|M1. Identify and apply strategies to find appropriate solutions.||An effective approach to study and research has been used.||To achieve M1, you will be required to show evidence of study and research to obtain evidences on the organisation(s) used as examplesin supporting your answer. This can be obtained in(1.1, 1.2 or 1.3)|
|M2. Select/ design and apply appropriate methods/ techniques.||The selection of methods and techniques applied.|
|To achieve M2, you will have selected and apply suitable techniques such as PESTEL, Porter’s 5 forces, bench marking; SWOT analysis; product positions; value-chain analysis etc to conduct an organisational and environmental audit for Coca Cola (AC2.1 and 2.2)|
M3. Present and communicate appropriate findings.
|. Logical and coherent arguments have been presented|
. Technical language accurately used.
|To achieve M3, the structuring and presentation of report/work should be appropriate. Relevant terminology and concepts have been used accurately.|
|D1. Use critical reflection to evaluate own work and justify valid conclusion.||. Self-criticism of approach has taken place.|
. Evaluation has taken place using defined criteria
|To achieve D1, conclusions are made in a logical and consistent with the flow of arguments within the work potentially in 3.1 and 3.2|
|D2. Take responsibility for managing and organizing activities.||Autonomy/independence demonstrated|
The importance of interdependence has been recognized.
|Autonomy and independence of approach and critical thinking has been demonstrated in evaluating strategies. Potentially in 1.3, 2.1, 2.2 and 2.3|
|D3. Demonstrate convergent, lateral and creative thinking||Capacity for logical and coherent thought has been applied.|
Receptiveness to new ideas has demonstrated.
To achieve D3, Convergent, logical and coherent thought have been applied and new ideas evident potentially in 2.4 and 3.2
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