Task 1: Explain the strategy contents and terminology – explain the significance of stakeholder analysis.4
I.Explain the strategy contents and terminology:4
II.Explain the significance of stakeholder analysis:10
Task 2: Produce an organizational audit and carry out an external environment audit for the company.14
III.SWOT analysis of PHO2424
PHO has become one of the most famous traditional dishes for a very long time. It is well-known together with the delicious taste thanks to the variety of spices. However, it has known as the street food for many decades. Catch that opportunity, the board of An Nam group decided to open the brand new business concept to satisfy the high standards but still keep the traditional value. Spending around two years to research market, especially customers’ taste, PHO24 has invented a unique flavor for Pho through 24 top quality ingredients and spices.
PHO24 is the system which serves Vietnamese noodle, belonging to An Nam group, the biggest F&B Corporation in the country. Recently, PHO24 has owned about 73 outlets and plans to open more stores in all major of Vietnam as well as oversea markets. The founders believe that PHO24’s concept is unique but very easy to multiple due to its space requirement, low investment, standardize operational procedures and most importantly the top quality of the food. In this report, I would like to focus on the definition of the context of PHO24’s strategy as well as figuring out the explanation about the significance of stakeholders’ analysis. Besides, producing an organizational audit and conduct an external environment; applying strategic positioning techniques to analysis the company.
Task 1: Explain the strategy contents and terminology – explain the significance of stakeholder analysis. I. Explain the strategy contents and terminology:
Business strategy can be clearly seen as the plans of one company to survive and develop continually in market today. It is evident that almost business move forward because of the serious compete among companies; therefore, having a strategy is the essential requirement for each company recently. The main function of strategy is setting up the movements systematically until company achieves their targets. However, before building their own strategy, companies have to clear out their targets or aims in the future in order to monitor the whole plan. In that case, it is called contexts of strategy, which includes vision, mission, value, objectives and goals, business philosophy and core competences. PHO24 is not an exception. 1. Vision:
Initially, every organization wants to know their destination before starting their business. A good vision helps them describe the future and commit to gain it. The vision is obviously different from what the company is in the present. “The responsibility of leaders is lighting up the way to the future and then seek the help from everyone to create that future”, Margaret Thatcher said. Basing on that statement, the board of PHO24 also set up a vision for their business which contains their expected destination: “To be the number one brand of Vietnamese quick-service restaurant in the world.” This vision of PHO24 is definitely successful in painting a great future for the company to exert all its strength to achieve their expectations. In order to do that, the leaders of PHO24 must help their employees to know what they would have if the vision is achieved; therefore, the employees will link their works and actions with the vision. Unfortunately, it does not show particularly how long they need to spend to reach to the first position. In term of inspiration, this vision is not persuadable enough because the vision statement should impact all aspects of employees’ mind and...