Unit 43 Business Strategy - Pearson BTEC Higher National Diploma In Business
Learning Outcome 1: Analyse The Impact And Influence Which The Macro Environment Has On An Organisation And Its Business Strategies
Learning Outcome 2: Assess An Organisation`s Internal Environment And Capabilities
Learning Outcome 3: Apply The Outcomes Of An Analysis, Using An Appropriate Strategic Management Tool, In A Given Market Sector
Learning Outcome 4: Develop A Strategic Management Plan In An Organisation, Informed By Models, Theories And Concepts, To Achieve Competitive Advantage In A Given Market Sector.
You will go through various theories regarding business strategy and once major aspects have been covered you shall have to select an organisation from a specific market and conduct an in-depth strategic analysis . You have been assigned the task of producing an environmental analysis as a preliminary study for subsequently developing a strategic growth management plan for the selected 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.
Various theories that have to be covered before conducting a practical analysis of a specific organization include a description of the role of business strategy, strategic management, different strategic models and strategic planning techniques. Once this has been covered you have to provide an assessment of the extent to which business missions, visions, objectives, goals and core competencies influence organizational strategic planning. Furthermore, you will analyse the factors, internal and external, that businesses will have to consider when formulating their strategic plans and using evidence to support your answer, evaluate the worth or usefulness of techniques used when businesses develop their strategic plans.
Once you have selected the organization, you will analyse your selected organisation by conducting 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. Then 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. The determine how this organisation`s macro-environment affects and is affected by its strategies and at-last 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. Then you will determine a Unique Selling Point for this organisation and how this should be communicated to the wider/target market.
You will at the end conduct a detailed analysis of the different types of strategies that can be used by organizations to align their targets with.
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. For this you shall produce a strategic growth management plan with tangible and realistic strategies, objectives and tactics.