Learners Existing Knowledge Assignment Help

Introduction

One of the aims of this unit is to build on learners’ existing knowledge of the basic tools of business analysis such as PESTLE and draw it together so that the learners think strategically.

Learners will be introduced to further analysis tools needed for the process of strategic planning. They will be able to explain the significance of stakeholder analysis and carry out an environmental and organisational audit of a given organisation.

Learners will learn how to apply strategic positioning techniques to the analysis of a given organisation and prepare a strategic plan based on previous analysis. They will also learn how to evaluate possible alternative strategies (such as substantive growth, limited growth or retrenchment) and then select an appropriate future strategy for a given organisation.

Finally, learners will compare the roles and responsibilities for strategy implementation and evaluate resource requirements for the implementation of a new strategy for a given organisation. Learners will then be able to propose targets and timescales for implementation and monitoring of the strategy in a given organisation.

• Aim

The aim of this unit is to give learners the knowledge and understanding of how a business unit can strategically organise and plan for likely future outcomes in order to be successful.

• Learning Outcome

On successful completion of this unit a learner will:

• Understandthe process of strategic planning
• Be able to formulate a new strategy
• Understand approaches to strategy evaluation
• Understand how to implement a chosen strategy.

LEARNING OUTCOMES AND ASSESSMENT CRITERIA

LO1 Understand the process of strategic planning

1.1 Assess how businessmissions, visions, objectives, goals, core competencies inform strategic planning

1.2 Analyse the factors that have to be considered when formulating strategic plans

1.3 Evaluate the effectiveness of techniques used when developing strategic business plans

LO2 Be able to formulate a new strategy

2.1 Analyse the strategic positioning for a given organisation by carrying out an organisational audit

2.2 Carry out an environmental audit for a given organisation

2.3 Asses the significance of stakeholder analysisfor a given organisation when formulating new strategy

2.4 Present a new strategy for a given organisation

LO3 Understand approachestostrategy evaluation and selection

3.1 Analyse the appropriateness of alternative strategies relating to market entry,substantive growth, limited growth or retrenchment for a given organisation

3.2 Justify the selection of a strategy

LO4 Understand how to implement a chosen strategy

4.1 Asses the roles and responsibilities of personnel who are charged withstrategy implementation

4.2 Analyse the estimated resource requirements for implementing a new strategy for a given organisation

4.3 Evaluate the contribution of SMART targets to the achievement of strategy implementation in a given organisation

Knowledge and Understanding:

• Explain the role of strategy and key terminology used in strategy
• Know what is meant by strategic thinking
• Examine various planning systemsand strategic planning issues
• Identify strategic planning techniques
• Analyse the significance of stakeholders
• Analyse major changes in the external environmental impacting on strategy
• Evaluate strategic the Strategic positioning of an organisation
• Identify alternative strategies relating tosubstantive growth, limited growth or retrenchment
• Know how to evaluate alternative strategies and to select the best strategy for an organisation
• Know how to communicate strategic plans to various stakeholders
• Identify of team and individual roles, responsibilities and targets;
• Identify benchmark targets at differing levels of the organisation
• Know how to allocate resource to achieve strategic goals and objectives
• Discuss timescales for achievement of a given strategy in a given organisation

     UNIT CONTENT

    Understand the process of strategic planning

Strategic contexts and terminology: role of strategy; missions; visions; strategic intent; objectives; goals; core competencies; strategic architecture; strategic control

Strategic thinking: future direction of the competition; needs of customers; gaining and maintaining competitive advantage; Ansoff’s growth-vector matrix; portfolio analysis

Planning systems: informal planning; top-down planning; bottom-up planning; behavioural approaches

Strategic planning issues: impact on managers; targets; when to plan; who should be involved; role of planning

Strategic planning techniques: BCG growth-share matrix; directional policy matrices; SPACE,PIMS

         Be able to formulate a new strategy

Stakeholder analysis: stakeholder significance grid; stakeholder mapping Environment auditing: political, economic, socio-cultural, technological, legal and environmental analysis (PESTLE); Porter’s 5 force analysis; the threat of new entrants; the power of buyers; the power of suppliers; the threat of substitutes; competitive rivalry and collaboration

Strategic positioning: the Ansoff matrix; growth; stability; profitability; efficiency; market leadership; survival; mergers and acquisitions; expansion into the global marketplace

The organisational audit: benchmarking; SWOT analysis; product positions; value-chain analysis; demographic influences; scenario planning; synergy culture and values

3          Understand approaches to strategy evaluation

Market entry strategies: organic growth; growth by merger or acquisition; strategic alliances; licensing; franchising

Substantive growth strategies: horizontal and vertical integration; related and unrelated diversification

Limited growth strategies: do nothing; market penetration; market development; product development; innovation

Disinvestment strategies: retrenchment; turnaround strategies; divestment; liquidation

Strategy selection: considering the alternatives; appropriateness; feasibility; desirability