School of Business BTEC HND in Management/Marketing/Information Technology Front Sheet SFU/QSF-ACD-006 Rev 001 dated 9/20/10 UNIT 7 – Business Strategy Student number/ Student name: Activity Reference: 07-01 Group: th Date due: 18 of October 2011 Assessor(s): Dr. Joel M. Balason Date submitted: Outcome / Skill Evidence 1.1 Define the contexts of business strategy Assessor’s decision 1 Feedback 1.Analyse how the business environment is considered in strategy formulation
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Businesses use forecasting to predict future‚ trends‚ patterns‚ and business with data to develop a forecast. This data is used to predict future sales. In forecasting we use testing and reasonableness to predict future events. Companies use this method to compare their sales with other companies. Forecasting has many benefits to include; what is the popular product customers are purchasing‚ and it enhances cash flow‚ and identifies patterns and trends inside a corporation. Using this method
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it feels like anything is possible-and that’s what inspires us to get out of bed every day.” NEW STRATEGY KEY ELEMENTS OF THE STRATEGY- * Build a new winning mobile ecosystem in partnership with Microsoft * Bring the next billion online in developing growth markets * Invest in next-generation disruptive technologies * Increase our focus on speed‚ results and accountability STRATEGY MAIN INITIATIVES- * Regaining leadership in the smartphone space: The strategic partnership with
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What Are the Benefits of Strategy Planning? The benefits of strategic planning can include: • Identification of breakthrough strategies‚ products and operational improvements • A clear road map is that is understood and passionately supported • Resources that are allocated as appropriate on top priorities • Goals that are developed based on solid research and a common understanding • Goals that are aligned throughout the organization • Employees who are focused‚ engaged‚‚ empowered and
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Business Management 1 Intro to Bus Man as science - Study Unit 1 & 2 Man science uses a scientific approach to solver many problems. Used in variety of orgs to sove different types of problems. Encompasses a logicical mathematical approach to problem solving 1.1 Man science process • Observation - Identification of a problem that exists in the system or organization. • Definition of the Problem - problem must be clearly and consistently defined showing its boundaries and interaction
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How management can undermine motivation at work First of all I’ll have to say I was surprised by the results of the questionnaire taken as it showed that I’m a moderately autonomy supportive (MA) manager. Based on previous experiences in leadership roles and feedback from my teams and friends I would have claimed to be a highly controlling manager‚ who mainly dictates and prescribes the solution to employees as I deem it quicker and more effective than letting them figure out solutions themselves
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Foundations of Planning Facilitator: S. Ali Jafari CASE Understanding Powerful Role of Your Experience in Finetuning Your Judgment Contd… • Those who cannot remember past are fated to repeat it. -George Santayana -George • Bad judgment can come form bad memory. -L. William Seidman -L. • Only thing new in world is history you don’t know. don’t -Harry S. Truman -Harry • Farther backward you can look farther forward you are likely to see. -Winston Churchill -Winston Contd… Contd… Understanding
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Business Strategy Notes VRIO Framework1 The VRIO Framework and the Resource-Based View2 In the last three weeks we have looked at how firms can get a competitive advantage. Today we focus primarily on the sustainability of a firm’s competitive advantage. That is‚ what determines whether a firm’s competitive advantage will be short-lived or whether it will endure a long time? We will consider this question within Barney’s VRIO framework (outlined below) within the resource-based view. Under the resourced-based
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Strategy Definition The process of strategy definition would involve the generation‚ evaluation and eventual selection of options. When evaluating the different available options‚ different aspects such as prioritizing e-business channels‚ the form of required restructuring‚ the business and revenue model‚ marketplace restructuring‚ market and product development strategy as well as positioning and differentiation strategy‚ among other parameters should be decided on. E-business priorities Much
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A business plan is not only essential for starting a business or for raising funds‚ but it is vital for running the business. It will help you keep on a specific course or alert you to situations when things are not going to plan and force you to take action. 1. Give a structure to your plan The following can help you decide what should go in‚ and give a structure to your plan: What is the nature of your business? What is the market? Outline the potential of the business Management team
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