SUBJECT: BUSINESS STRATEGY Individual Report – PLEASE DONT COPY FROM INTERNET Un
ID: 383095 • Letter: S
Question
SUBJECT: BUSINESS STRATEGY
Individual Report – PLEASE DONT COPY FROM INTERNET
Understand approaches to strategy evaluation
3.1- Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for an organisation.
3.2 – Justify the selection of a strategy
Understand how to implement a chosen strategy
4.1 – Assess the roles and responsibilities of personnel who are charged with strategy implementation
4.2 – Analyse the estimated resource requirements for implementing a new strategy for the organisation
4.3 – Evaluate the contribution of SMART targets to the achievement of strategy implementation in a given organisation.
Explanation / Answer
Subject- business strategy
a). Market entry strategies- The most straightforward type of passage methodology is sending out utilizing either an immediate or aberrant strategy, for example, a specialist, on account of the previous, or counter exchange, on account of the last mentioned. More mind boggling frames incorporate really worldwide operations which may include joint ventures, or fare handling zones. Having settled on the type of fare technique, choices must be made on the particular channels. Numerous farming results of a crude or product nature utilize operators, wholesalers or include Government, though prepared materials, while not barring these, depend all the more intensely on more advanced types of access.
b). Mergers- Merger is that the procedure by two enterprises gets joined and turns into a entity through lawful consolidation.
c). Acquisitions- This is the procedure where one accurate enterprise buys another whole enterprise and assemblies up itself because the proprietor. All through this procedure 100% or beside 100% ownership craves to be reaching by.
d). Alliance- This is the method while at least 2 organizations endless supply of principle destinations and offer each other's resources for satisfy those goals. This approach is wholeheartedly a thought that dwells between the possibility of natural advancement and interfacing or obtaining.
e). Licensing- It is the outline through that a mother undertaking (licensor) grants another endeavour (licensee) to utilize its trademark and arrangement the stock or administrations on the preparation of confirmations on many time ranges. The time traverse receives the approving credit that longs to be paid to the licenser.
f). Franchising- It is the conceive, through that an endeavour benefits from the right to use another organization's trademark, venture kind, techniques while the franchiser arrangement the right to the franchisee.
2. selection of a strategy- To select the best strategy, a company must consider the markets it has selected, the products or services it wishes to sell and its overall aims for international trade. The range of elements to consider might seem daunting, but without a full analysis of the situation for each potential market, a company might select an inappropriate strategy.
a). Company goals
b). Size of the company
c). Competition
d). Control
e).product variety
f). Investment
g). Risk
h). Flexibility
3. Access the role and responsibility of personnel who are charged with strategy implementation-
a. must communicate the strategy plan to the employees
b. assign the roles and responsibilities of each expert
c. involve all to actively participate in the strategy process
d). Manage all the changes made
e). Assess the performance of the employees
4. estimated resources requirement-
A). This include determine the number of work force to work on the new market strategy
b). Recruitment of media expert
c). The strategy on determine the R&D team
5. Contribution of SMART targets-
This include that target must be
a). Specific
b). Measureable
c). Attainable
d). Relevant
e). Time bound
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