Business Strategy

Topics: Strategic management, Management, Virgin Group Pages: 7 (3686 words) Published: November 2, 2014

An Assignment
Business Strategy
(Virgin Group)
Table of Contents
TOC \o "1-3" \h \z \u P1: Explain strategic contexts and terminology- mission, vision, objectives, goals, core-competencies PAGEREF _Toc384165552 \h 3P2 Review the issues involved in strategic planning ( Guidance : consider impact on managers in formulating strategic planning; targets; when to plan; who should be involved; role of planning). PAGEREF _Toc384165553 \h 4P3 Explain different strategic planning techniques (Guidance- you should use any two of the following techniques: BCG growth-share matrix; directional policy matrices; SPACE, PIMS) PAGEREF _Toc384165554 \h 5P4: Produce an organizational audit for Virgin. You should use SWOT analysis; product positions; value chain analysis to conduct the audit for Virgin. PAGEREF _Toc384165555 \h 7P5 Carry out the environmental audit for Virgin using the PESTLE analysis and Porter’s competitive forces PAGEREF _Toc384165556 \h 9P6 Explain the significance of the stakeholders of Virgin’s business scenario PAGEREF _Toc384165557 \h 12P7 Analyze possible alternative strategies relating to substantive growth, limited growth or retrenchment PAGEREF _Toc384165558 \h 13P8 Select an appropriate future strategy for Virgin group or any other organization of your choice PAGEREF _Toc384165559 \h 14P9 Compare roles and responsibilities of Senior Management towards strategy implementation PAGEREF _Toc384165560 \h 15P10 Evaluate resource requirements to implement a new strategy for Virgin Group or any other organization of your choice (You may evaluate the resource requirements like Finance, HR, Marketing, etc., and the keys to implement a new strategy of the given or any chosen organization) PAGEREF _Toc384165561 \h 15P11Discuss targets and timescales for achievements in a given organization to monitor a given strategy (You may propose target and a plan to implement proposed strategy/new strategy based on some assumptions you have made) PAGEREF _Toc384165562 \h 16M1: Submit your Work on time and in appropriate Format. PAGEREF _Toc384165563 \h 17M2 Identify and apply strategies to find solutions through effective judgment PAGEREF _Toc384165564 \h 17M3 Select/design and apply appropriate methods/techniques. You are judged on the application of relevant techniques and the justification for their application. PAGEREF _Toc384165565 \h 17M4 Present and communicate appropriate findings. This includes the use of an appropriate structure and approach with coherent, logical development of principles/concepts for the intended audience. PAGEREF _Toc384165566 \h 18D1 Use Critical reflection to evaluate own work and justify valid conclusions including realistic improvements which have been proposed against defined characteristics for success. PAGEREF _Toc384165567 \h 18D2 Demonstrate convergent/ Lateral/creative thinking by showing evidence on receptiveness to new ideas and effective thinking in unfamiliar contexts. PAGEREF _Toc384165568 \h 18D3 Take Responsibility for managing and organizing activities including accommodating the unforeseen and recognizing the importance of interdependence PAGEREF _Toc384165569 \h 19References PAGEREF _Toc384165571 \h 20 P1: Explain strategic contexts and terminology- mission, vision, objectives, goals, core-competenciesStrategy is long term plan of action that is taken to chive the superior performance of the organization. The superior performance helps the organization to gain the competitive advantages. Strategy is formulated to gain the organizational vision mission and objectives. In the following these are explained: Vision:

Vision reflects the dream of the organization. It is a long term goal of the organization. It is achieved within the long period of time. Vision is based on the mission of the organization. Vision is revised after long period of time. Mission

Mission is midterm goal of the organization. Mission reflects why the organization exists in the...

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