Buiness Strategy Complete
Student Name: Tamij Uddin, Student ID: 2120170
Contents
Introduction 2
P1: Explaining strategic context and terminology- mission, vision, objectives goals, core competencies 4
P2: Reviewing the issues in strategic planning 4
P3: Explaining different strategic planning 5
P4: Producing an organizational audit for Virgin 8
P5: Carrying out an environmental audit of Virgin 9
Threat of substitute products or services: If a particular product in the market is faced with more substitutes, then chance is there that consumers will switch to that new product or service making the business more difficult (Traverso, 2000). 9
Bargaining power of customers: A consumer’s bargaining capability/sensitivity to prices can threat the price a company is offering for a product. 9
Bargaining power of suppliers: Suppliers of raw materials, components and labour can pose threat if there are no or fewer suppliers of the raw materials (Levinson, 1984). 9
Intensity of competitive rivalry: Rivalry of the competiting firms can also threat an operating company. 9
P6: Explaining the significance of stakeholder’s analysis 10
P7: Analyzing possible alternative strategies relating to substantive growth, limited growth or retrenchment 13
P8: Selecting an appropriate future strategy for Virgin group 14
P9: Roles of senior management in strategy implementation 15
P10: Evaluating resource requirements to implement a new strategy for Virgin group 15
P10: Discussing targets and timescale for achievements in a given organization to monitor a given strategy 17
Conclusion 18
Reference 19
Charles W.L.and Gareth R. J. (2012).Strategic Management Theory: An Integrated Approach. (10thed.) Cengage Learning. 19
Introduction
An organization runs with a long-term plan keeping in mind its mission and goals. The most important thing that helps an organization achieve its goal is the strategic planning. It is a course of actions that a company plans to execute over the time to reach its goal.
Contents
Introduction 2
P1: Explaining strategic context and terminology- mission, vision, objectives goals, core competencies 4
P2: Reviewing the issues in strategic planning 4
P3: Explaining different strategic planning 5
P4: Producing an organizational audit for Virgin 8
P5: Carrying out an environmental audit of Virgin 9
Threat of substitute products or services: If a particular product in the market is faced with more substitutes, then chance is there that consumers will switch to that new product or service making the business more difficult (Traverso, 2000). 9
Bargaining power of customers: A consumer’s bargaining capability/sensitivity to prices can threat the price a company is offering for a product. 9
Bargaining power of suppliers: Suppliers of raw materials, components and labour can pose threat if there are no or fewer suppliers of the raw materials (Levinson, 1984). 9
Intensity of competitive rivalry: Rivalry of the competiting firms can also threat an operating company. 9
P6: Explaining the significance of stakeholder’s analysis 10
P7: Analyzing possible alternative strategies relating to substantive growth, limited growth or retrenchment 13
P8: Selecting an appropriate future strategy for Virgin group 14
P9: Roles of senior management in strategy implementation 15
P10: Evaluating resource requirements to implement a new strategy for Virgin group 15
P10: Discussing targets and timescale for achievements in a given organization to monitor a given strategy 17
Conclusion 18
Reference 19
Charles W.L.and Gareth R. J. (2012).Strategic Management Theory: An Integrated Approach. (10thed.) Cengage Learning. 19
Introduction
An organization runs with a long-term plan keeping in mind its mission and goals. The most important thing that helps an organization achieve its goal is the strategic planning. It is a course of actions that a company plans to execute over the time to reach its goal.