01 Jul BUSINESS STRATEGY
Business strategy
The aim of the unit is to give learners the knowledge and understanding of how a business unit can strategically organise and plan for likely future outcomes in order to be successful.
Unit Abstract
One of the aims of this unit is to build on learners existing knowledge of the basic tools of business analysis such as PESTLE, and other analysis tools needed for the process for the strategy planning. So they will be tested through this assignment brief to explain the significance of stakeholder analysis and carry out an environment and organisational audit of a given organisation.
Learners will learn how to apply strategic positioning techniques to the analysis of a given organisation and prepare a strategic plan based on previous analysis. They will also learn how to evaluate possible alternative strategies (such as substantive growth, limited growth or retrenchment). So they will be tested to select an appropriate future strategy for a given organisation.
Finally, learners will compare the roles and responsibilities for strategy implementation and evaluate resource requirements for the implementation of a new strategy for a given organisation. Learners will then be able to propose targets and timescales for implementation and monitoring of the strategy in a given organisation.
The Assignment:
There four learning outcomes (LO) in this unit to achieve through this assignment:
LO1- Understand the process of strategic planning
LO2- Be able to formulate a new strategy
LO3- Understand approaches to strategy evaluation and selection
LO4- Understand how to implement a chosen strategy.
There will be 3 to 4 questions to answer as evidence of achievement for each learning outcome. Each question has been set to satisfy one relevant assessment criteria under each learning outcome. Satisfying all the pass criteria will mean the student has achieved a pass in this unit. There are 3 merit(M) and 3 distinction (D) criteria mentioned in the feedback sheet may be satisfied in order to achieve and overall Merit or Distinction in this unit.
Task1:
For this task, please select a company and answer the following questions in its context:
Q1.1: Explain strategic contexts and terminology such as missions, visions, objectives, goals, and core competencies of your selected company. (AC 1.1)
Q 1.2: Review the issues involved in strategic planning of your selected company. If you are unable to get sufficient information from the selected company, then answer the question in general context. (AC 1.2)
Q 1.3: Explain different planning techniques used in that company. If you are unable to get sufficient information from your selected company then explain the different planning techniques used by business organisations around the world. (AC 1.3)
Task2:
For this task, you may select a different company or you may continue with the same company you have selected Task1.
Q2.1 Produce an organisation audit for the selected company. (AC2.1)
Q2.2 Carry out an environmental audit for the same company. (AC2.2)
Q2.3 Explain the significance of stakeholders analysis for that company. (AC2.3)
Task3:
For this task, you may continuo with the same company you have used for the previous task or you may select a new company.
Q3.1 analyse possible alternative strategies relating to substantive growth, limited growth or retrenchment for that company (AC3.1)
Q3.2 Select an appropriate future strategy for the selected company. (AC3.2)
Task4:
You may use the same organisation as for Task3 or you may select a new organisation to answer the following question:
Q4.1: Compare the roles and responsibility for strategy implementation. (AC4.1)
Q4.2: Evaluate resource requirements to implement a new strategy for your selected organisation. (AC4.2)
Q4.3: Discuss targets and timescales for achievement in your organisation to monitor a given strategy. (AC 4.3)
1.1 Explain strategic contexts and terminology- missions, visions, objectives, goals, core competencies
1.2 review the issues involved in strategic planning
1.3 Explain differentplanning techniques
2.1 Produce an organisational audit for a given organisation
2.2 Carry out an environmental audit for a given organisation
2.3 Explain the significance of stakeholder analysis
3.1 analyse possible alternative strategies relating to substantive growth, limited growth or retrenchment
3.2 select an appropriate future strategy for a given organisation
4.1 Compare the roles and responsibilities for strategy implementation
4.2 Evaluate resource requirements to implement a new strategy for a given organisation
4.3 discuss targets and timescales for achievement in a given organisation to monitor a given strategy
M1
The students work shows that effective judgement regarding the relevant factors for strategy formulation has been made
M2
The students work shows that relevant theories and techniques have been applied to explain the significance of stakeholder analysis
M3
Student used appropriate structure and approach to present his/her work
D1
The students shows thatConclusions have been arrived at through synthesis of ideas and have been justified
D2:
The students work shows thatautonomy/independence has been demonstrated
D3
The students work shows self-evaluation has taken place
General Comments:
Overall Grade Pass/Merit/Distinction
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