Strategic Management: Creating Competitive Advantages

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Strategies for Building Business Success 6BE 002
Guidelines for writing the Strategic Growth Plan for an Existing Small Business This guide to writing your strategic growth plan is, as you will see, quite comprehensive, however given the diversity of organisations that students may select, it should not be seen as a definitive guide & you are encouraged to use other sources in considering the structure of your report. The main body of the report is your discussion of the significance and interpretation of your analysis of the industry/ sector & business and specific strategic recommendations for the future growth of the organisation. Your own reflective learning experience statement on undertaking this module, tables/ charts etc; PEST Analysis, SWOT Analysis for example should be put into your appendices & do not count towards your word count. Do NOT just describe these analytical tools in the main body of your report, you MUST highlight the significance of the analysis, what does it mean for the company? When you are finished writing the first draft, you will have a collection of sections on the various topics of the Growth Plan. You will then need to edit them into a smooth flowing report. The real value of entrepreneurs doing a strategic growth plan is not just having the finished product in hand; rather, the value lies in the process of research and thinking about the business in a systematic way. The act of planning helps you to think things through thoroughly, study and research when you are not sure of the facts; to explore ideas critically takes time, but avoids costly, perhaps disastrous, mistakes later. The plan outline given is a generic model suitable for all types of businesses. However, you should modify it to suit the particular circumstances. The quality, structure and appearance of the work as well as the ideas expressed within are all important. It will take a number of weeks to complete the plan. Much of that time will be spent in researching the company, industry & competitors, often re-thinking ideas and assumptions. As you do this, different opportunities and ideas for possible future growth and innovations will start to emerge – you need to research & think these through from an early stage. Remember the primary purpose of this report is to develop a holistic growth strategy for the business over the next 1- 5 years – consequently your recommended growth strategies represent 40% of the overall report. You must, as with all assessments, provide a list of references at the end of your report.

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Small Business Strategic Growth Plan
Table of contents
I. ll Table of contents ......................................................................................... 2 Executive summary & Company Background………………………………….5

III. Strategic Industry/ Market Analysis/ competitor analysis ……………….……6 lV. Recommended Growth Strategies ………………………………………………8 V. Vl Managing the Growth…………………………………………………………….. 6 Appendices (Including Reflective Learning Experience Statement)……….. 9

PART 1: Executive summary & Company Background
(Suggested word count 750 - 1000 words: This represents APPROX 10% overall grade) This section should explain the fundamentals of the business & effectively provides a case study of the business. Company Purpose Many companies have a brief mission statement, usually in thirty words or less, explaining their reason for being and their guiding principles. If the company has a mission statement, this is a good place to put it in the plan. Whether they have a mission statement or not identify the sector they compete within, who do they market their products/ services to? (Briefly here - you will do a more thorough explanation in the market analysis section). Is it a growing business? What changes are happening in the sector and how might the company position itself to take advantage of them? Identify key competitors. Company Background Avoid making this just a...
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