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Sample on Business Strategy

Strategic planning is the method by which business defines its strategy and makes decisions on assigning the resources in order to follow this strategy. It is the process by which business translates its vision into goals and objectives and defines a procedure in order to achieve them.

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Sample on Business Strategy

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  1. Business Strategy 1. Course notes and lecture slides accessible on the Student Portal and or on LSST Connect 2. Recommended course textbooks Please use Harvard referencing system and end with the ISBN in the following format ISBN:9781408032145 • BPP (2010) Business Strategy-Business Essentials-Supporting HND/HNC and Foundation Degrees, London: BPP Learning Media. • Campbell, D., Stonehouse, G., Houston, B. (2000) Business Strategy-An Introduction, Oxford, Auckland, Boston, Johannesburg, Melbourne and New Delhi: Butterworth Heinemann. • Wilson, D. (1992) a Strategy of Change-Concepts and Controversies in the Management of Change, London: Routledge. 3. Sources of Information Please see Harvard referencing system – Please see example BBC (2012), “PPI Compensation: Ombudsman Gets 6,000 Bogus Claims". Available at www.bbc.co.uk/news/business-18145963 (accessed 23rd May 2013) Sources of information Buy Dissertation Writing from professionals writer from UK

  2. PASS CRITERIA ONLY Pass In order to achieve Pass, students must achieve all the pass criteria below. CASE STUDY You should use the FUJITSU organisation where appropriate for your answers. Please read case study carefully which is to be found at http://www.fujitsu.com/uk/Images/multi-national.pdf Also, please carry out further independent research on the corporation wherever needed, in order to fully answer the questions. Buy Dissertation Writing from professionals writer from UK

  3. LO1UNDERSTAND THE PROCESS OF STRATEGIC PLANNING Buy Dissertation Writing from professionals writer from UK

  4. Q 1.1 Define the terms and explain the meaning of the terms mission, vision, objectives, goals and core competences for a company like FUJITSU. Guidelines: (Approx. 300 words) In your answer, you should: Define each of the terms mission, vision, objectives, goals and core competences Provide evidence of Fijitsu’s mission, vision, objectives, goals and core competences In answering this question, you will have covered the following assessment criterion: 1.1 Explain strategic contexts and terminology - missions, visions, objectives, goals, core competencies TERM DEFINITION √ CORPORATE STATEMENT Mission Mission statement depicts the Company’s long term mission is purpose of the organization and to make fastest and most reason for which it came into ergonomic products for people. It existence. Mission guide the desires to contribute to the organization’s action, it assists the society by its electronic company in decision making technology (Corporate Vision, (Abraham, 2012). This statement is 2014). clear, precise and powerful. Vision Vision statement emphasize on Through continuous innovation organizational goal and aspiration. FUJITSU aims at creating This statement is carries description networked society. It wants to of what company wants to achieve bring prosperity within the in long term future. society that fulfills the dreams of the whole world. Objective Objectives are the specific outcome FUJITSU objective is to enhance s which the company wants to customer satisfaction by achieve within a given time frame providing quality of software and available resources (Al-turki, products. 2011). They act as a basis for evaluating organizational performance and making policies. Goals Goals are measurable end results The long term goal of FUJITSU is which has one or more objectives the develop information that are to be achieved within a technology that creates more Buy Dissertation Writing from professionals writer from UK time frame. It is the final outcome towards which are the efforts are wealthy society. The long term strategy of the business would be

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  6. 1.2 What are the three key strategic planning issues that FUJITSU has had to manage over its history? Guidelines: (Approx 250 words) In your answer, you should : Define strategy planning Describe at least three strategic planning problems Provide examples of problems within internal analysis, external analysis or business level strategy In answering this question, you will have covered the following assessment criterion: √ 1.2 Review the issues involved in strategic planning Strategic planning is the method by which business defines its strategy and makes decisions on assigning the resources in order to follow this strategy. It is the process by which business translates its vision into goals and objectives and defines a procedure in order to achieve them. The following are the key strategic planning problems: Inability to understand the environment: The major problem with strategic planning is in understanding the changes in the environment (Johansson and Winroth, 2010). The changes in external environment are acting as a problem while FUJITSU implements its strategy. Adherence to a fragmented and decentralized approach: As per the given case study the company never provided centralized system to its users so the satisfaction received by the customers was very low. The services received by the end user were extremely inconsistent. Having wrong people in strategy implementation: The staff of company was unable to execute the strategy formulated by top management (Hensmans, Johnson and Yip, 2013). It becomes very important for FUJITSU to revive its strategic plans. The main problem was rigidity of plans which become difficult on the part of employees to perform. Internal problems are regarding the lack of motivation in the employees to implement the corporate plans. The external problem can be change in the perception of the customers due to which strategic plans of the FUJITSU fails. Business level strategy problem occurs when the employees of company are not able to implement the strategy so formed. Buy Dissertation Writing from professionals writer from UK

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  8. Q.1.3 Describe and explain two different planning techniques that FUJITSU could use in future. Guidelines: (Approx. 200 words) In your answer, you should : Explain and describe two different planning techniques e.g. the BCG, SPACE, PIMS or stakeholder mapping In answering this question, you will have covered the following assessment criterion: √ 1.3 Explain different planning techniques The following are the planning techniques which FUJITSU can use in future: BCG: It is also known as growth share matrix. It is a planning technique which can be used by the corporation to analyze its product lines (Elbanna, 2010). It helps the company to allocate its resources. It can be used an analytical tool in product management, strategic management portfolio analysis. It will aid in ranking the product on the basis of relative market and growth rates. The product can be ranked as cash cow, dog, question mark, stars. These criteria help the organization in making planning for future. PIMS: Profit impact of market strategies is a planning technique which evaluates the performance of business, analyze opportunities for business and test the new strategies and screen the portfolio of business. The key function of PIMS is it describes the relationship between business strategic decisions and its outcome. After analyzing this FUJITSU can gain better understanding of market and what strategic plans it can create in order to improve its position (El-Ansary, 2006). It will assist FUJITSU in knowing which business strategy has provided it the success. Further the firm can also analyze the strategy which has an influence over its profitability. Buy Dissertation Writing from professionals writer from UK

  9. LO 2 BE ABLE TO FORMULATE A NEW STRATEGY Buy Dissertation Writing from professionals writer from UK

  10. Q 2.1 Conduct a SWOT Analysis of the FUJITSU corporation. Guidelines: (Approx. 250 words) In your answer, you should : Identify the strengths, weaknesses, opportunities and threats for your chosen corporation Complete the table below In answering this question, you will have covered the following assessment criterion: √ 2.1 Produce an organisational audit for a given organisation FUJITSU Corporation. STRENGTHS OPPORTUNTIES FUJITSU is the one of the world’s Worldwide demand for business largest information technology service solution through information provider technology services. It provides eco friendly environment. Partnership with Microsoft can give FUJITSU a global benefit in becoming Build strong relationship with market leader. customers (Linn, 2008). It has potential to expand due its The company holds 1lac and above growth in market (López, 2005). patents worldwide. FUJITSU merger with Toshiba mobile It provides variety of products to its phone can help it in long run. customers. It in the number one electronic brand in Japan. It is ranked fifth worldwide as a server provider. WEAKNESSES THREATS Market share of the company is less Large number of competitors. due to intense competition. Fluctuation in currency yen. It is viewed as a lower brand as Economic down turn can affect the compared to global brands in the sale growth of business (Trim and Lee, of electronic products (Smith, 2013). 2006). The company misuses its workers by Issues such as terrorism, political paying them low wages and instability are not in control of FUJITSU demanding them to provide high which may influence its operations. quality of work. Wars in Middle East can be a big Buy Dissertation Writing from professionals writer from UK threat to the company.

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  12. Q 2.2 Carry out a PESTEL Analysis for FUJITSU and evaluate the current challenges within the FUJITSU business environment. Guidelines: (Approx. 300 words) In your answer, you should : Describe the factors of PESTEL – Political, Economic, Social, Technological, Environmental and Legal Provide an example of each for your corporation Present the answers in the table below In answering this question, you will have covered the following assessment criterion: √ 2.2 Carry out an environmental audit for a given organisation PESTEL ANALYSIS FOR FUJITSU Factors Description Company example POLITICAL These factors determine the The political factors such as extent to which government government policies in UK have influence a certain industry great impact on the operation of (Wilson and Eilertsen, 2010). the FUJITSU. Organization needs to change its revenue generating structure as per the government tax policies. ECONOMIC It includes the factors such Inflation rate and interest rate, as inflation rates, interest foreign exchange rate in UK rates, foreign exchanges influences performance of rates which directly impacts FUJITSU. company. SOCIAL Determinants such as Change in taste and preference of cultural trend, consumers impact the existing demographics, population product of the company. analytics has huge influence Innovation in electronic products on buying pattern of the needs to be done by the company’s product. corporation in order to survive in the market (West, Ford and Ibrahim, 2011). TECHNOLOGICAL Change in technology that is Change in the technology brought bringing new innovation in in by the various competitors of Buy Dissertation Writing from professionals writer from UK the products may affect the FUJITSU has an impact over operation of the business. operation of its business.

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  14. Q 2.3 Conduct a stakeholder analysis for FUJITSU and explain how strategic positioning is used to help gain competitive advantage. Guidelines: (Approx. 250 words) In your answer, you should : Describe the term “stakeholder” Carry out a stakeholder analysis for FUJITSU Describe why strategic positioning is important within this organisation. In answering this question, you will have covered the following assessment criterion: √ 2.3 Explain the significance of stakeholder analysis Stakeholder can be a person, group or organizations which have interest in the company concern. They can influence or can be influenced by the company’s actions, objectives and policies. The key stakeholders of the company are its creditors, suppliers, employees, government, shareholders and its customers. Stakeholder analysis for FUJITSU Suppliers: The supplier of the company wants that the firm is required to have ability to pay their debts for the goods supplied to them. Employees: The employees of FUJITSU have interest that company provides them better working condition so that they can increase the productivity (Core Competencies, 2014). Shareholders: Shareholders of the FUJITSU are those who invest their money in the company. Their interest is to get return on the amount invested by them (Stakeholder Analysis, 2014). Government: There are certain rules and standard laid down by the regulator body. The government wants that FUJITSU comply with these rules while it carries its operations. Customers: The customers have interest in the product of the firm. They require that FUJITSU provides them, the product as per their taste and preference as well as per their need (Narayanan and Fahey, 2013). Strategic positioning can be defined as locating an organization in future with giving due importance to changing environmental conditions. The company needs to analyze its current strategy so that it may know whether or not it fits to future (Stonehouse and Houston, 2013). If not then the business is required to examine the changes needs to be done in the existing strategy. By doing this company can save its lot of time and money in future. Buy Dissertation Writing from professionals writer from UK

  15. LO3 UNDERSTAND APPROACHES TO STRATEGY EVALUATION & SELECTION Buy Dissertation Writing from professionals writer from UK

  16. Q 3.1 Analyse the various strategic options available to FUJITSU which will promote organisational growth. Use examples to illustrate your answer. Guidelines: (Approx. 350words) In order to complete the above task, your answer should include : Discuss market entry strategies, for example, organic growth, growth by merger or acquisition or strategic alliances strategies Discuss substantive growth strategies which can include related and unrelated diversification. Discuss limited growth strategies including strategies such as market penetration and market development Discuss disinvestment strategies including turnaround strategies, divestment and liquidation. In answering this question, you will have covered the following assessment criterion: √ 3.1 Analyse possible alternative strategies relating to substantive growth, limited growth or retrenchment There following are various strategic options available to FUJITSU which will promote its growth: Market entry strategies: Market entry strategy includes the plans which can be used by the company to develop new market for the product. The can company enters new market by planning for mergers and acquisitions. It is such strategy which can help FUJITSU to increase its existing market share. Business adopts such strategies so that it can grow by diversifying its operations in new market. Merger is consolidation of two companies into one business entity (Sherman, 2014). Acquisition is that when corporation takes over another firm and establishes itself to be the new owner. By doing this the company can get an opportunity to grow and expand in the new market. Substantive growth strategies: FUJITSU can adopt substantive growth strategy by diversifying its operation. The diversification includes related and unrelated diversification. Related diversification can be adopted by company in order to grow (Paswan and et. al., 2011). This can be done by expansion in existing product line. Unrelated diversification can be done by adding new or unrelated product line in the business operations. Limited growth strategies: FUJITSU has the option to adopt limited growth strategies such as market penetration in order to promote its growth. This means the company can grow by increasing its market share. This can be further done by it by reducing the prices for its product. The business can also use market development strategy in order to expand. This strategy involves developing new Buy Dissertation Writing from professionals writer from UK market for existing product line.

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  18. Q 3.2 From your analysis in Q3.1, recommend an appropriate growth strategy for FUJITSU for the future. Guidelines: (Approx. 350 words) In order to complete the above task, your answer should: Include an introduction, background, advantages and disadvantages of various options with evidence from FUJITSU and the business environment In answering this question, you will have covered the following assessment criterion: √ 3.2 Select an appropriate future strategy for a given organisation FUJITSU can adopt the strategy of limited growth as future strategy. The other strategies such as substantial growth and market entry have benefits that company can enjoy economies of scale in implementing it. However these strategies have more risk and cost involved. Limited growth will help the company to grow by increasing its sales and profits. Under limited growth strategy the firm can plan to grow with the available resources it has. Limited growth strategy includes market penetration and market development strategy. This strategy will provide long term growth and survival to the company (Doole and Lowe, 2005). Adopting such strategy will help FUJITSU to position itself as an innovator in the mind of the prospect. The advantage of such plan is that the corporation has to make minimal investment and also it has less risk involved. In this plan the company can go for product development that is creating new product for the existing market. Further the firm can also choose market development that promoting existing product in the new market. If the business adopts such strategy into its practice then it will have less investor pressure in order to grow faster. When the company plans to grow itself at rapid speed then creates burden on the manager to keep balance between existing operations and new operations (Dandira, 2011). However if FUJITSU adopts strategy to grow limited then it can easily manage its operations and also low cost will be incurred. Moreover if this plan is implemented then the business will have less debt this is because limited growth will require less finance thereby results in less liability on the business. The major disadvantage when the company adopts such strategy is that FUJITSU will restrict its ability to enjoy economies of scale. If the business plan for limited growth then it will not make purchases in large volume of raw material that means it will not be able to get discounts which it would have got in making bulk purchases (Acur and Englyst, 2006). The business can use market penetration strategy which may not be fruitful as this plan aims at reducing the price of the product in order to increase its Buy Dissertation Writing from professionals writer from UK market share. Implementing this plan may reduce the profits of the business.

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  20. LO 4 UNDERSTAND HOWTOIMPLEMENTACHOSENSTRATEGY Buy Dissertation Writing from professionals writer from UK

  21. Q 4.1 Using your answer in Q3.2, create an implementation plan for the recommended future strategy for FUJITSU. Guidelines: (Approx. 200 words) In order to complete the above task, your answer should include : a list of implementation activities benchmark targets a discussion about the teams you require examples of individual roles required to achieve the SMART objectives within the plan In answering this question, you will have covered the following assessment criterion: 4.1 Compare the roles and responsibilities for strategy implementation √ List of activities in implementing the strategy include defining objectives, setting standards, identifying the resources and allocating them. In order to implement limited strategy FUJITSU needs to define its objectives (Kourdi, 2010). The company needs to SMART objectives in order to achieve its aim of limited growth. The objectives set are required to be specific, measurable, attainable at an accepted cost, relevant and time bound. After the establishment of the objective the business requires to lay standards in order to carry out operations in smooth manner. Moreover benchmarking helps the organization to review its performance and find out the area where it is lacking. The major part in strategy implementation is played by those who execute the strategy ( What is retrenchment as a corporate strategy, 2014). For the limited growth strategy the company requires teams consisting of top management, middle level managers and workers who can carry the operations as per the standards. Other than human resource the company will require financial resources in order to perform limited growth plans. Use of new technology can also be fruitful if the business plans for limited growth this technology can help the business in developing new product for its existing market ( Eigenhuis and Dijk, 2007). The role of individual in implementing is that they are required to communicate the strategy to their subordinates and they are accountable to their superiors for the task accomplished by them. For example, the role of the top management is to formulate the objectives for Buy Dissertation Writing from professionals writer from UK strategy and communicating the objectives to the managers.

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  23. Q 4.2 Describe and evaluate the resources required to implement the new strategy from answer Q3.2 Guidelines: (Approx. 250 words) In order to complete the above task, your answer should: Describe how to carry out a human resources audit Describe how to carry out a financial resources audit Evaluate the resource requirements In answering this question, you will have covered the following assessment criterion: Evaluate resource requirements to implement a new strategy for a given organisation 4.2 √ In order to implement the new strategy that is limited growth the business needs to evaluate its human resources and financial resources. Human resources include man power ability execute the plan. The business needs to analyze the human resource skills and knowledge which are necessary for implementation of the new strategy ( Galbreath, 2009). For examining this human resource audit is carried out. Top level, middle level and lower level employees need to have necessary qualification and expertise in order to perform the plan. If the human resources are not capable enough then company can carry out various training programs so that employees can upgrade their skills and knowledge. It is very important that FUJITSU contains pool of specialized human resource so that it can attain success in long run. Not only human resources but to implement a new strategy financial resources are also very essential. The company can carry out financial resources audit so that it can know the internal resources it can it order to perform new plans ( Kruger and Mama, 2012). If the company has enough of internal sources then it has not to take finance from the external sources. Through evaluation of financial resources FUJITSU can get to know the availability of funds it has. When firm cannot get the resources from internal Buy Dissertation Writing from professionals writer from UK sources then it has to borrow the funds from external sources.

  24. Q 4.3 From your responses in Q4.1 & Q4.2 create a Gantt Chart that shows the activities required and timescale for the implementation of the recommended future strategy of Q3.2 Guidelines: (Approx. 200 words) In your answer you should: Propose targets and timescales which you would use to monitor the implementation plan Formulate a Project plan and present it in a Gantt Chart (MS Project software available in LSST computers) In answering this question, you will have covered the following assessment criterion: 4.3 Discuss targets and timescales for achievement in a given organisation to monitor a given strategy √ When the company want to implement the limited growth strategy then it would requires at least six months incorporating it ( El-Ansary, 2006). The activities involves formulation of strategy, setting standards, evaluating the availability of resources, allocation of resources, identifying the human resources for implementing the strategy, communicating the strategy, implementing the strategy, feedback from implementation, revising the plan. The time to accomplish such activities has been represented using Gantt chart. Table 1 Gantt chart Activity/month Formulation of objectives Setting benchmarks Organizing and allocating necessary resources (financial and human resources) Communication management Implementation of strategy Feedback of the implementation Revising the plan 1 2 3 4 5 6 7 8 of strategy to Buy Dissertation Writing from professionals writer from UK

  25. EFERENCES Journal and Books Abraham, C. S., 2012. Strategic Planning: A Practical Guide for Competitive Success. 2nded. Emerald Group Publishing. Acur, N. and Englyst, L., 2006. Assessment of strategy formulation: how to ensure quality in process and outcome. International Journal of Operations & Production Management. 26(1). pp.69–91. Al-turki, U., 2011. A framework for strategic planning in maintenance. Journal of Quality in Maintenance Engineering. 17(2). pp.150–162. Dandira, M., 2011. Involvement of implementers: missing element in strategy formulation. Business Strategy Series. 12(1). pp.30–34. Doole, I. and Lowe, R., 2005. Strategic Marketing Decisions in Global Markets. Cengage Learning EMEA. Eigenhuis, A. and Dijk, R., 2007. High Performance Business Strategy: Inspiring Success Through Effective Human Resource Management. Kogan Page Publishers. El-Ansary, A., 2006. Marketing strategy: taxonomy and frameworks. European Business Review. 18(4). pp.266–293. Elbanna, S., 2010. Strategic planning in the United Arab Emirates. International Journal of Commerce and Management. 20(1). pp.26–40. Galbreath, Business Review. 21(2). pp.109–127. J., 2009. Building corporate social responsibility into strategy. European Hensmans, M., Johnson, G. and Yip, G., 2013. Strategic Transformation: Changing While Winning. Palgrave Macmillan Publication. Johansson, manufacturing strategies: Implications for the decision criteria. Management Research Review. 33(9). pp.877–899. G. and Winroth, M., 2010. Introducing environmental concern in Buy Dissertation Writing from professionals writer from UK

  26. Kourdi, J., 2010. Business Strategy: A Guide to Effective Decision-making. Profile Books. Kruger, C. and Mama, M., 2012. Incorporating business strategy formulation with identity management strategy formulation. Information Management & Computer Security. 20(3). pp.152–169. Linn, M., 2008. Planning strategically and strategic planning. Bottom Line: Managing Library Finances. 21(1). pp.20–23. López, S., 2005. Competitive advantage and strategy formulation: The key role of dynamic capabilities. Management Decision. 43(5). pp.661–669. Marren, P., 2007. High-functioning business strategy. Journal of Business Strategy. 28(6). pp.37-39. Narayanan, V. K. and Fahey, L., 2013. Seven management follies that threaten strategic success. Strategy & Leadership. 41(4). pp.24–29. Paswan, K. A., and et. al., 2011. Relationalism in marketing channels and marketing strategy. European Journal of Marketing. 45(3). pp.311–333. Singer, strategy. Journal of Corporate Real Estate. 9(1). pp.25–38. P. B. and et. al., 2007. Corporate real estate and competitive Smith, D. R., 2013. Strategic Planning for Public Relations, Fourth Edition. 4thed. Routledge Publications. Stonehouse, G. and Houston, B., 2013. Business Strategy. 2nded. Routledge. Trim, P. and Lee, Y., 2006. The role of marketing intelligence officers in strategy formulation and implementation. Handbook of Business Strategy. 7(1). pp.125– 130. West, C. D., Ford, J. and Ibrahim, E., 2011. Strategic Marketing: Creating Competitive Advantage. 2nded. Oxford University Press. Buy Dissertation Writing from professionals writer from UK

  27. Wilson, W. J. and Eilertsen, S., 2010. How did strategic planning help during the economic crisis. Strategy & Leadership. 38(2). pp.5–14. Online Core <http://www.bain.com/publications/articles/management-tools-core- competencies.aspx>. [Accessed on 1st July 2014]. Competencies. 2014. [Online]. Available through: Corporate <http://www.fujitsu.com/global/about/philosophy/vision/>. [Accessed on 1st July 2014]. Vision. 2014. [Online]. Available through: Sherman, F., 2014. Advantages & Disadvantages of Limited Growth Strategies. 2014. [Online]. Available through: <http://smallbusiness.chron.com/advantages- disadvantages-limited-growth-strategies-41321.html>. [Accessed on 1stJuly 2014]. Stakeholder <http://applegmx.blogspot.in/>. [Accessed on 1stJuly2014] Analysis. 2014. [Online]. Available through: What is retrenchment as a corporate strategy. 2014. [Online]. Available through: <http://www.enotes.com/homework-help/what-retrenchmemt-corporate-strategy- 177787>. [Accessed on 1stJuly 2014]. Buy Dissertation Writing from professionals writer from UK

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