Hnd Business Strategy Task 1 Essay

1404 Words Mar 18th, 2015 6 Pages
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BUSINESS ENVIRONMENT
SHAPING YOUR FUTURE
A VOCATIONAL SCENARIO

SUMMARY

This report shows an understanding of the organisational strategic purpose and different processes of strategic planning, how to formulate a strategy and understand approaches to the evaluation process and the selection and finally how to implement that chosen strategy. CONTENTS Page no. Summary 2 Contents 3 1 Task 1 4 1.1 Mission, Vision, Objectives, Goals and Competencies……………… 4-5 1.2 Key factors when designing strategic plans for SAS…………………. 5 1.3 Two different planning techniques for SAS……………. . … ……. 5-7 M1 McKinsey’s model (7s) …… 8-9

Task 1- Understand the
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Goals: These are similar to objectives but on shorter time basis they are non specific and can adapt to the varying Stakeholders. Below I have applied this to my Business SAS:-
Plans to ensure our objectives: Looking from the viewpoint of all my Stakeholders. Utilizing my own strategic skills of bookkeeping to make sure my businesses finances are in good order and that I am organized with an efficient system of time keeping to meet all Stakeholder deadlines to ensures a good rounded practice. I also use cost efficient Marketing routes to gain access to new markets e.g. networking, referral rewards.

Core Competencies: These are a set of skills, knowledge and expertise that make
An organisation unique. Below I have applied this to my Business SAS.
What is the main function of my business? - SAS provide a one to one “intimate”
Bookkeeping bespoke service. Sharp Accounting Solutions.

1.2
The Business Dictionary (BusinessDictionary.com, 2015) states that strategic planning is “A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.

Three questions that need to be considered in planning are 1) Where are we now? – Looking at an organisations planning. Aspects such as size, history, location, competitors, other barriers, knowing your main market and skills available and

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