This is a solution of Unit 3 Business Strategy Assignment Help that describes about Developing business
Unit 3 Business Strategy Assignment Help
|Unit 7||Business Strategy|
|Qualification||HND in Business|
|Term Start date||22/02/2016|
|Assignment title||Business strategy in Corporations|
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 learn 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. See more : Government Organizations Assignment part 2
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 planning 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 personnelwho 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 ofSMART targets (give examples) can contribute to achieve the implementation of the strategy.
1. Evidence checklist
|To achieve the criteria the evidence must show that the student have:||Achieved?|
|1.1||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 business 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
2. 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, benchmarking; SWOT analysis; product positions; value-chain analysisetc 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
Glossary of academic words used in this and other assignments
|Give reasons for: explain why something happens. Read more :Financial Instruments MATLAB Assignment Help|
|Analyse||Examine something in very close detail and from a number of angles. Identify the important points and chief features, and understand their relationships.|
|Argue||Present a case for and against a proposal or statement and present your own opinion at the end.|
|Compare||Show how two or more things are similar.|
|Contrast||Look at two or more things and draw out differences. State whether the differences are significant.|
|Critically evaluate||Weigh arguments for and against something, assess the strength of evidence on both sides.|
|Define||Give the exact meaning of.|
|Describe||Give a detailed account of the main features or characteristics …|
|Discuss||Write about the most important characteristics of something. Give arguments for and against, look at it from a variety of perspectives.|
|Distinguish||Identify the differences between two items.|
|Evaluate||Assess the worth or usefulness of something. Use evidence to support your opinion.|
|Examine||Look at something in detail. You may be expected to ‘critically evaluate’ it as well.|
|Explain||Make it clear why something happens or why it is the way it is.|
|Identify||Recognise name and briefly describe something.|
|Illustrate||Use examples to further explain or justify something. Could be visual or verbal.|
|Interpret||Explain the meaning or significance of information or data that you are presenting.|
|Justify||Provide evidence that supports an argument or idea.|
|Outline||Give only the main points, show only the main structure.|
|Prove||Present evidence in a logical structure to support an argument for a point of view.|
|Relate (Two meanings)||1. Show how ideas / theories/ events etc are linked or connected.|
2. Tell a story. Explain something in a narrative fashion.
|Review||Survey and comment on the key aspects of something or a range of things.|
|State||Give the main features clearly and simply.|
|Summarise||Draw out the main points, omitting detail and examples.|
|To what extent…||How far is something true, or contributes to a final outcome. Also how far is it not true? In academic writing the answer is usually somewhere in the middle.|
Describe the development of something; follow the order of different stages in an event or process.
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