Introduction
Understanding of Business Strategy and knowing how to develop is give advantages in organisation to success in their business. This is also can simply described as a long-term business planning and it concerned with major resources and scope of the business activities. For Red Dragon Restaurant Group, in order to implement and develop its own strategy and ensure the business success, there are thing must understand first like understanding the process of strategic planning and knowing how to be able to formulate a new strategy that will fit and satisfy not only the customers but also the entire Red Dragon Restaurant Group.
AC1.1 Assess how business missions, visions, objectives, goals and core competencies inform strategic …show more content…
Goals are must be attainable in any terms in order to achieve and success.
Objectives The importance of objectives in strategic planning focus on determines the progress needed to reach clearly the target. Objectives are also the steps or parts of a goal in order to attain organisation goals and it may includes market position relative to the competition, products of goods and services, market share, customer services, organisation expansion, advance in technology and sales increases. It is very important that strategic objectives are communicated to everyone in the organisation including all stakeholders in order to ensure success.
Core Competence This is referring to organisation set of skills, expertise and foundation of successful strategic execution applied not only to the organisation as a whole, but also to each individual member of the organisation. In an organisation it is very important to maintain its competitive position over other competitors in market. It is also very important for an organisation to study and understand clearly its core competencies in order to attain successful strategic …show more content…
These must be done by, evaluating and understanding SWOT analysis that identifies in two categories such as internal factors whereas includes strength and weakness, and external factors that includes potential opportunity and threats of the organisation in the market. [Slideshare.net 2016]
AC1.3 Evaluate the effectiveness of techniques used when developing strategic business plans.
In strategic business plans, understand different planning techniques are very important and evaluate their effectiveness in order to establish a very useful strategic planning to success in organisation goals. There are some different planning techniques available in the market that Red Dragon Restaurant Group can consider and include in developing strategic business plans, as follows:
SWOT Analysis Source:
Understanding of Business Strategy and knowing how to develop is give advantages in organisation to success in their business. This is also can simply described as a long-term business planning and it concerned with major resources and scope of the business activities. For Red Dragon Restaurant Group, in order to implement and develop its own strategy and ensure the business success, there are thing must understand first like understanding the process of strategic planning and knowing how to be able to formulate a new strategy that will fit and satisfy not only the customers but also the entire Red Dragon Restaurant Group.
AC1.1 Assess how business missions, visions, objectives, goals and core competencies inform strategic …show more content…
Goals are must be attainable in any terms in order to achieve and success.
Objectives The importance of objectives in strategic planning focus on determines the progress needed to reach clearly the target. Objectives are also the steps or parts of a goal in order to attain organisation goals and it may includes market position relative to the competition, products of goods and services, market share, customer services, organisation expansion, advance in technology and sales increases. It is very important that strategic objectives are communicated to everyone in the organisation including all stakeholders in order to ensure success.
Core Competence This is referring to organisation set of skills, expertise and foundation of successful strategic execution applied not only to the organisation as a whole, but also to each individual member of the organisation. In an organisation it is very important to maintain its competitive position over other competitors in market. It is also very important for an organisation to study and understand clearly its core competencies in order to attain successful strategic …show more content…
These must be done by, evaluating and understanding SWOT analysis that identifies in two categories such as internal factors whereas includes strength and weakness, and external factors that includes potential opportunity and threats of the organisation in the market. [Slideshare.net 2016]
AC1.3 Evaluate the effectiveness of techniques used when developing strategic business plans.
In strategic business plans, understand different planning techniques are very important and evaluate their effectiveness in order to establish a very useful strategic planning to success in organisation goals. There are some different planning techniques available in the market that Red Dragon Restaurant Group can consider and include in developing strategic business plans, as follows:
SWOT Analysis Source: