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Assignment Brief Qualification Unit number and title Pearson BTEC Higher National Diploma in Business (rqf) 32. Business Strategy (level 5) Internal Verifier Unit Tutor Date issued Submission date Resubmission Date Monday, 17th August 2020 Monday, 7th December 2020 Wednesday, 6th January 2021 Assignment Title Business strategic Planning Learning outcome and assessment criteria Pass Merit Distinction LO1 Analyse the impact and influence which the macro environment has on an organisation and its business strategies LO1 - 4 D1 Critique and interpret information and data applying environmental and competitive analysis to produce a set of valid strategic directions, objectives and tactical actions. P1 Applying appropriate frameworks analyse the impact and influence of the macro environment on a given organisation and its strategies. M1 Critically analyse the macro environment to determine and inform strategic management decisions. LO2 Assess an organisation’s internal environment and capabilities P2 Analyse the internal environment and capabilities of a given organisation using appropriate frameworks. M2 Critically evaluate the internal environment to assess strengths and weaknesses of an organisation’s internal capabilities, structure and skill set. LO3 Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a given market sector P3 Applying Porter’s Five Forces model evaluate the competitive forces of a given market sector for an organisation. M3 Devise appropriate strategies to improve competitive edge and market position based on the outcomes. LO4 Apply models, theories and concepts to assist with the understanding and interpretation of strategic directions available to an organisation P4 Applying a range of theories, concepts and models, interpret and devise strategic planning for a given organisation. M4 Produce a strategic management plan that has tangible and tactical strategic priorities and objectives. Submission Format The submission is in the form of a report divided into organisational analysis & strategic management plan. The report should be written in a concise, formal business style using single spacing and font style Times New Roman and size 12. You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard referencing system. The recommended word limit is specified. Assignment Scenario and Guidance Scenario Good strategic management is essential for long-term business success. It involves: · Defining a business strategy with clear objectives · Creating clear plans as to how these objectives will be achieved · Aligning business activities to support the objectives · Allocating the resources needed to achieve the objectives. To start with, strategic management requires highly developed analytical skills. Business leaders involved in strategy development need a wide, interconnected view of their company – including: · The business environment in which it operates · Global trends · The competitive landscape · Customer needs · Stakeholder expectations. Strategic management can only be successful if it starts with a clear and honest understanding of the internal and external factors that will determine the company's success - today and in the future. Required Study the contemporary business market and select an organisation of your choice. You have been assigned the task of producing an environmental analysis as a preliminary study for subsequently developing a strategic growth management plan for this organisation. The choice of companies will be made from those which are indigenously established within Pakistan. Even if international companies are to be chosen, they should have establishments within the country. Note: While companies with an excellent record of successful strategy implementation will be considered, it is strongly advised not to choose any company which you have already selected in your previous units. The sole reason being that choosing such companies puts the student at a disadvantage in terms of plagiarism since many students have, and will be using them in order to construct their assignments. On the other hand, it would be an interesting twist if companies which had once flourished but eventually failed were to be considered; it would allow the student to look into the various factors that led to the companies’ eventual downfall and evaluate as to what steps they could have taken in order to avoid it. E.G. Nokia, Motorola, Kodak, etc. Grading would certainly depend on the level of in-depth analysis conducted by the student. Task 1 - (LO1, LO2 and LO3) - Guidance In order to emphasise the importance of long-term planning for the success of organisations: · Describe the role of: · Business Strategy · Strategic management · Different strategic models · Strategic planning techniques. · Provide an assessment of the extent to which business missions, visions, objectives, goals and core competencies influence organizational strategic planning. · Analyse the factors, internal and external, that businesses will have to consider when formulating their strategic plans. · Using evidence to support your answer, evaluate the worth or usefulness of techniques used when businesses develop their strategic plans. Analyse your selected organisation within this strategic context. · Conduct the macro analysis/audit of this organisation’s environment, stakeholders, competition, positioning, and performance using theoretical framework, such as SWOT, PESTLE, Ansoff’s matrix, stakeholder matrix/mapping, Porter’s Forces, etc. Assess the significance of stakeholder analysis for your chosen company when formulating new strategy. You will explain why stakeholder analysis is important for your company when formulating a new strategy, and support your answer with justifiable reasons. · Determine how this organisation’s macro-environment affects and is affected by its strategies. · Critically analyse this research and its usefulness in making strategic management decisions. Further, analyse the organisation’s internal environment and capabilities using models such as VRIO/VRIN framework, Mc Kinsey’s 7S model, value-chain analysis, cost-benefit analysis, etc. Critically evaluate this analysis to determine the organisation’s internal strengths and weaknesses. Using both the internal and external analysis conducted for the selected organisation, evaluate the competitive forces for this organisation’s market sector using Porter’s Five Forces Model. Based on the outcomes of this evaluation, devise appropriate strategies to improve competitive edge and market positioning of this organisation. Determine a Unique Selling Point for this organisation and how this should be communicated to the wider/target market. Various strategies that could be applied: {A.} Market entry strategies: Organic growth; growth by merger or acquisition; strategic alliances; licensing; franchising. {B.} Substantive growth strategies: Horizontal and vertical integration; related and unrelated diversification. {C.} Limited growth strategies: Do nothing; market penetration; market development; product development; innovation. {D.} Disinvestment strategies: Retrenchment; turnaround strategies; divestment; liquidation. {E.} Strategy selection: Considering the alternatives; appropriateness; feasibility; desirability. Task 2 - (LO4) – Guidance Based on the organisational analysis produced in the last task, evaluate the different types of strategic directions available to the selected organisation. Ground your evaluation in the application of Porter’s generic strategies, diversification strategy, hybrid strategy, and vertical/horizontal integration. Justify and recommend the most appropriate growth platform and strategies. Produce a strategic management plan with tangible and realistic strategies, objectives and tactics. A framework for presenting your strategic plan could be as follows: 1. Where are we now? Review the current strategic position and clarify the mission, vision and values. 2. Where are we going? Establish your competitive advantage and the direction in which the organization is heading 3. How will we get there? Layout the road map to connect where they are now to where they going. Set the strategic objectives, goals and action items. Understand the basic implementation of a chosen strategy: {A.} The realization of strategic plans to operational reality: communication (selling the concepts);project teams; identification of team and individual roles, responsibilities and targets; programme of activities; benchmark targets at differing levels of the organisation. {B.} Resource allocation: Finance; human resources; materials; time. {C.} Review and evaluation: An evaluation of the benchmarked outcomes in a given time period in relation to corporate, operational and individual targets. Evidence checklist Summary of evidence required by student Task 1 Organisational Analysis (2000-2500 words) Task 2 Strategic Growth Management Plan (2000-2500 words)