Business Strategy Forms At Different Levels Business Essay - Free Essay Example

This strategy mainly emphasis on whole purpose and scope of the business. Corporate strategy mainly plans to deal with stakeholder expectations. This includes set the goal and scope of the all activities of organization. In this the position of business in market and what type of competition is there all take in corporate strategy. Business unit strategy This type of strategy involves actions like how a business will give good competition in a particular market. Business unit strategy concerns strategic decisions about choice of products, meeting needs of customers, how to take over competitors and creating new opportunities etc. Operational strategy Operational strategy concern with how all parts of the business is organised to deliver both corporate and business-unit level strategic direction. Operational strategy involves the issues like how to manage the resources, processes, people etc. Strategic Planning Strategic planning is called an organizational process or method which is used to define its strategy, or direction, and make decisions on dividing its resources to carry out their strategies, including its capital in terms of money and people. There are different types of methods and techniques which are used in strategic planning like SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats), PEST analysis (Political, Economic, Social, and Technological). When we are going to make a strategy we have to care about the vision, mission, and core values of the company. Vision of the company- This is whole picture of the company. In this the reputation of the company can be included. Mission of the company- This is goals of the company. Company make strategy to achieve its desired goals. Core values- These are main values or fundamental things in company which cannot be changed at any price. I am manager of Asda store in Birmingham. This is situated in Birmingham and 0.5 mile far from city center. Internal and external scan SWOT analysis {Strength, Weakness, opportunities, Threats} Strength Strength of company can be identifying by its production etc. In this we see what the strengths of our company are. In my company they have got good staff, latest technology, good marketing which encourage us to do more. Weakness Every business has its strong and weakness point. No business is perfect. There is always some weakness in business and this may be in terms of employees, production or technology. In our business even we got good and trained staff we are facing management problem. Opportunities Retailing market is expanding day by day. People are becoming used to buy all things under one roof. they have recover from recession and all these things provide us great opportunities to explore our business. Threats There are two types of threats. One threats which are already in company like bad management etc and second is future threats which can affect the business in long term,. Competition is biggest threat for today business. In my company due to bad management we are not achieving our targeted goals which ig greatest threat for us. PEST analysis {Political, Economic, Social, Technological} Political Politicians always play great role in the business. When government is very supportive they help the businesses like providing those loans and exemption in taxes etc. Uk government always encourage and help us lot even in recession. Economic All business is always according to the situation of the economy. In countries like uk they have got good and healthy economy so the chances of success of business are more because then you know that your products will consume in market which leave you good profit. So i got very good chances that i can take my business where i want because this is in very healthy economy of uk. Social Businesses are open to deal with demands of local people. what type of business should open and business will run is always according to the nature of society. Societies in UK are more rich and educated where people are ready to spend money onso there we got plenty of opportunities to sell our products. Technological Technology is very important in business. Largest business is fully depend on technology. Technology is proving more reliable, productive for the businesses. Strategic planning cycle Strategic planning cycle is the process of whole strategy. This include Strategic initiatives Strategic initiatives are goals which can be achieved by strategic planning. Strategies are made to achieve the desired goals. After PEST AND SWOT analysis we have found that we have got problem in our management. So our strategic initiative is to improve the culture of management of the company. Objectives Objectives are goals. There will be one strategy and under this one strategy there will be so many objectives. So in short in order to make the strategy success we have to achieve all objectives which are in the strategy. In Asda we have found that our management is not so good as this should be so we make a strategy to improve the culture of management of Asda. So there will be many objectives in this like working smoothly, motivation of employees, no conflicts should be in company and make company more reputated. Required actions Requires actions are to achieve the objectives. When we have indentify our objectives we will try to achieve them and lot of actions will required there so these actions are called required actions. In order to improve the culture of management we will set out workshops at regularly where WE will discuss about the problems of employees and we will try to indentify where is problem and how can we sought out them. We will motivate our employees by giving them bonus etc. Good workers will be rewarded Any complain of indiscipline in company will be taken seriously and strict actions will be taken against culprits. Resources Resources are very important for any business. Resources mean the basic things which are very important in order to run the business. In order to make our strategy we have got many resources like money, employee, building etc.   Ãƒâ€šÃƒâ€š Assessment After taking required actions and putting resources in strategy we assess that how far our strategy will be successful. We can assess our strategy by various methods. Our assessment was 95%. Outcomes Every strategy has its outcomes. Outcomes mean result which we will get from strategy. We found that our management culture has been increased by 90%. Continuous improvement After outcomes we see that has these outcomes meet our expectations or not and if not we see where we were wrong in our strategy and try to sought it out. Recommendations In Asda store in Birmingham we have found that there is some problem in management. I as a manager of Asda saw that decisions which top management were making didnà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢t let any employee to participate in it. This is very important in todayà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s world that as employers we have to take advice from employees and if we are going to make decision we should let them participate in it. I would recommend that we should organize workshops at regular basis so employees can share their problems there and come up with new ideas. We should motivate the employees by giving them bonus etc. in this way they will be motivated and do work more efficiently. Strict actions should be taken against the bad behavior of employees and employers. There should be suggestion box for employees. If employees find anything wrong in management they should have right to resist and give suggestions on it. Conclusion Business strategy is long term plan of many actions which are designed or make to achieve the goals and objectives. Strategies exist at several levels in any organisation ranging from the overall business (or group of businesses) through to individuals working in it. There are three levels of business strategy which are Corporate Strategy, Business unit strategy, Operational strategy In strategic planning cycle Internal/external scans, Strategic initiatives, Objectives, Required actions, Resources linkage, Assessment, Outcomes, Continuous improvement are included. In internal and external scan PEST analysis {Political, Economic, Social, Technological} SWOT analysis { Strength, Weakness, opportunities, Threats} are done. Strategic initiatives are goals which we want to achieve. Objectives are broadly defined that an organization must achieve to make its strategy succeed. Actions are required to achieve the objectives can be referred as a required action.HYPERLINK https://www.inv estorwords.com/11234/succeed.html Every organization make strategies to achieve its objectives and this need all type of resources such as money, land, workers. Every organization makes strategies to achieve its goals and after making these strategies they assess that what will be the results of strategy. Will it meet by their expectations or not. Every organization makes its strategies for better outcomes. Outcomes are results of strategies and after outcomes we continue improve our strategy by making it more perfect. So this is called whole strategic planning cycle and by adopting this we can make our strategy successful.