This is a solution of Unit 7 Business Strategy that describes about Developing business
Unit 7 Business Strategy
Qualification | Unit number and title | ||
Pearson BTEC Level 5 HND Diploma in Business | Unit 7: Business Strategy | ||
Student name | Assessor name | ||
Shahriar Khan | |||
Date issued | Completion date | Submitted on | |
01/10/14 | 19/12/2014 | ||
Assignment title | Formulation and Implementation of Business strategy | ||
Learning | Learning outcomes |
outcomes | |
LO1 | Understand the |
process of strategic | |
planning |
LO2 Be able to formulate a new business strategy
LO3 Understand approaches to strategy evaluation and selection
LO4 Understand how to implement a chosen strategy
To achieve the criteria the evidence must show that | |||||||
Task No | e(Page | ||||||
the student is able to: | |||||||
number | |||||||
Assessment criteria: 1.1, 1.2, 1.3 | |||||||
Explain strategic contexts and terminology – missions, | |||||||
visions, objectives, goals, core competencies | Task 1 | ||||||
1.2 | Review the issues involved in strategic planning | ||||||
1.3 | Explain different planning techniques | ||||||
Assessment criteria: 2.1, 2.2, 2.3 | |||||||
2.1 | Produce an organisational audit for a given | ||||||
organisation | |||||||
2.2 | Carry out an environmental audit for a given | Task 2 | |||||
organisation | |||||||
2.3 | Explain the significance of stakeholder analysis | ||||||
Assessment criteria: 3.1 and 3.2 | |||||||
3.1 | Analyse possible alternative strategies relating to | ||||||
substantive growth, limited growth or retrenchment | Task 3 | ||||||
3.2 select an appropriate future strategy for a given organisation.
Assessment criteria: 4.1, 4.2 and 4.3
4.1 Compare the roles and responsibilities for strategy implementation
4.2 | Evaluate resource requirements to implement a new | Task 4 |
strategy for a given organisation | ||
4.3 | Discuss targets and timescales for achievement in a | |
given organisation to monitor a given strategy. | ||
Learner declaration
I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.
Learner signature: | Date: |
Assignment title | Formulation and Implementation of Business strategy |
The purpose of this assignment is to give learners the knowledge and understanding of how a business unit can strategically organise and plan for likely future outcomes in order to be successful.
This assignment covers all 4 learning outcomes
Scenario
Imagine you are a member of the strategic planning management team (SMT) of a large British company. The SMT reports to the Chief Executive Officer (CEO) of the organisation. The consumer needs and demands are fast changing due to continuous innovation and globalisation You need to explain what strategies your company is following to maintain its competitiveness and how they are implementing those strategies to improve its level of competitiveness in the future.
Note: Total length should not exceed 4000 words. Average length of an answer for each task is 1000 words.
Task 1( AC 1.1, 1.2 1.3 and M1):
AC 1.1 Explain Business strategy, Vision and Mission. Choose an UK Business organization and briefly explain how its business strategies are related to their Vision, Mission, scope and business environment
AC1.1 and 1.2
a)Identify the steps of Strategic planning. Briefly explain if strategic planning is a one off issue or a continuous process and review the matters involved in this process.
b)Classify the four levels of management in a diversified company and briefly show the responsibilities of each level of managers to decide and implement Vision, mission, objectives and strategies to achieve goals. ( Hint: You can make a table to answer this criteria)
AC1.3: Explain Ansoff matrix, BCG growth-share matrix; directional policy matrices as planning techniques to meet the objectives of shareholders.
To achieve M1 you need to show that an effective research has been applied to justify the significance of strategic planning and its nature.
Task 2 (AC 2.1, 2.2, 2.3, M1, M2 and D1) :
AC 2.1 Carry out a current SWOT analysis (organizational audit) of your chosen company using facts.
AC 2.2 Conduct a PEST analysis (environmental analysis) of your chosen company.
AC 2.3 Develop a stakeholders mapping of your company and explain the significance of stakeholders analysis
To achieve M1 you need to show that an effective judgement has been made to develop and explain the stakeholder analysis of your company.
To achieve M2 you need to demonstrate that a range of sources of information has been used to explain the impact of PEST and SWOT analysis on your chosen company.
To achieve D1 Your conclusions must be arrived at through synthesis of ideas and they have been well justified.
Task 3 (AC 3.1, 3.2, 3.3, M2 and M3):
AC 3.1 Analyse the market entry strategies for example organic growth; growth by mergers or acquisitions; strategic alliances; licensing and franchising.
AC 3.2 Describe the Horizontal and Vertical strategies, their merits and demerits and selectan appropriate future strategy for a given organisation.
To achieve M2: Please analyse which of the above strategy or strategies are applied by your company. You need to show that relevant theories and techniques have been applied to justify your decision.
To achieve M3 Your analysis is coherent and there is a logical development of principles/concepts to support your conclusion.
Task 4 (AC 4.1. 4.2, 4.3, M3 and D2) : The following are some of the strategies used by the companies. Compare the roles and responsibilities, evaluate resource requirements anddiscuss timescales. See more : Unit 8 Legislation And Ethics In Travel And Tourism Sector
- •Customer Focus
- •Pricing strategies
- •Promotion Strategy
- •Market penetration
- •Expansion
- •Product Strategy
To achieve M3 Analysis and evaluation of the strategies
To achieve D2 Deep analysis, comparison and evaluation of the strategies
Evidence | Summary of evidence required by student | Evidence | ||||
checklist | presented | |||||
Task 1 | Learners choose a company and write a report to understand the process of | |||||
strategic planning of that chosen business | ||||||
Task 2 | Learners carry out analysis of SWOT, PEST and 5 Forces model | |||||
Task 3 | Learners analyse possible alternative strategies and justify strategy(strategies) | |||||
used by the company. | ||||||
Task 4 | Learners write a brief report to explain various strategies used by the company | |||||
ad who implement them | ||||||
Achievement Summary
Qualification | Pearson BTEC Level 4 HNC | Assessor name | |||||||
Diploma in Business | |||||||||
Unit Number and title | Unit 7 Business Strategy | Student name | |||||||
Criteria | To achieve the criteria the evidence must show that the student is | Achieved? | |||||||
Reference | able to: | (tick) | |||||||
LO1 Understand the process of strategic planning
LO 2 Be able to formulate a new strategy
LO3 Understand approaches to strategy evaluation and selection
LO4 Understand how to implement a chosen strategy.
r Grade achievements (where applicable)
Grade descriptor | Achieved? | Grade descriptor | Achieved? | ||
(tick) | (tick) | ||||
M1: An effective research has been | D1: Conclusions have been arrived at | ||||
applied to justify significance | through synthesis of ideas and have | ||||
been justified | |||||
M2: Demonstrate that a range of sources | D2: Demonstration of doing | ||||
of information has been used | independent work | ||||
M3: Analysis is coherent and there is a | |||||
logical development of principles | |||||
/concepts |
Assignment Feedback
Formative Feedback: Assessor to Student
Action Plan
Summative feedback
Feedback: Student to Assessor
Assessor Signature | Date | ||
Student Signature | Date | ||
Barney J – Gaining and Sustaining Competitive Advantage, 4th Edition (Pearson Education, 2010) ISBN 0132479060
Cusumano M A and Markides C – Strategic Thinking for the Next Economy (Jossey-Bass, 2001)
ISBN 0787957291
De Wit, B and Meyer R – Strategy: Process, Content, Context, 3rd Edition (Cengage Learning EMEA, 2004) ISBN 1861529643
Grant R – Contemporary Strategy Analysis, 7th Edition (John Wiley and Sons, 2010) ISBN 0470747099
Gratton L – Living Strategy: Putting People at the Heart of Corporate Purpose(Financial Times/Prentice Hall, 2000) ISBN 0273650157
Harrison J S – Strategic Management of Resources and Relationships: Concepts and Cases (John
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