BTEC Higher National Diploma in Business
Unit Number and Title Start Date Assignment Due Date Assessor Name Assignment No Assignment Title 7. Business Strategy 30/07/2013 27/08/2013 Ms. Uzma Farooq 2 Understand Approaches to Strategy Evaluation and Selection & Understand How to Implement a Chosen Strategy. In this assignment the student will select a strategy for a given organisation, consider why they might use different strategies in different situations and why certain strategies might not be appropriate in certain situations and learn how to implement a strategy successfully.
Assignment Task / Description: Task 1 QUESTION 1 (LO3, Assessment Criteria 3.1) Before a strategy is selected, the strategy should be evaluated. List and briefly describe the criteria that you would consider when evaluating strategies. QUESTION 2 (LO3, Assessment Criteria 3.1) Distinguish between the following different types of strategies and also explain under what conditions they would be most suitable, feasible and acceptable. a) Substantive growth b) Limited growth c) Retrenchment Task 2 QUESTION 3 (LO3, Assessment Criteria 3.2) Draw up a business strategy for any organisation of your choice and also justify your strategic choice.
Instructions: Your planning document should include these sections: • Executive Summary • Internal Analysis • External Analysis • Strategic Objectives & KPIs • Strategies, Measures, Targets, & Initiatives Task 3 QUESTION 4 (LO4, Assessment Criteria 4.1) Compare and contrast the roles and responsibilities for strategy implementation with regards to: 1) Type of strategy 2) Type of organisation 3) Size of organization Task 4 QUESTION 5 (LO4, Assessment Criteria 4.2 and 4.3) Read the Strategic Plan for AnyBiz Inc. and then evaluate the resource requirements to implement the relevant strategy and discuss the targets and the timescales for achievement in AnyBiz Inc. to monitor the strategy with reference to: i. ii. iii. iv. v. Control systems Budgetary control Performance monitoring and review Performance standards and indicators Improving performance
STRATEGIC PLAN FOR ANYBIZ INC Strengths, Weaknesses, Threats & Opportunities Strengths • • • • • • •
• • • • • • •
R and D almost complete Basis for strong management team Key first major customer acquired Initial product can evolve into range of offerings Located near a major center of excellence Very focused management/staff Well-rounded and managed business
Over dependent on borrowings Insufficient cash resources Board of Directors is too narrow Lack of awareness amongst prospective customers Need to relocate to larger premises Absence of strong sales/marketing expertise Overdependence on few key staff Emerging new technologies may move market in new directions
Opportunities • • • • Market segment is poised for rapid growth Export markets offer great potential Distribution channels seeking new products Scope to diversify into related market segments
Threats • • • • • • Major player may enter targeted market segment New technology may make products obsolescent Economic slowdown could reduce demand Euro/Yen may move against $ Market may become price sensitive Market segment's growth could attract major competition
Vision AnyBiz will be operating from a 5000 sq. ft. unit in Al Qouz in Dubai. It will have annualized sales of $3m and be profitable. It will employ 200 people mainly engaged in R and D, marketing, support and admin. AnyBiz will offer 10 core products and provide addedvalue services to a large customer base throughout the Dubai market segments and in Abu Dhabi. AnyBiz's offerings will be technically advanced and offer many clear-cut advantages and improvements over competitors' possible offerings. AnyBiz will continue to expand through organic growth and acquisitions in related technology/market segments. It will have recently received mezzanine finance prior to a public offering. Mission...
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