Assignment two Business Strategy – Crib Sheet to address pass criteria
WHEN WRITING ABOUT FRAMEWORKS, BE CAREFUL NOT TO SIMPLY DISCUSS WHAT THE FRAMEWORK IS DESIGNED FOR, APPLY FRAMEWORKS TO YOUR CASE STUDY.
Wrong Example;
SWOT analysis – A swot analysis is a framework to discover strengths, weaknesses, opportunities and threats. (This is descriptive and has not been applied to anything)
Correct Example;
SWOT analysis on financial capabilities of a business
| Strengths; Cash flow is sufficient and meets projected targets, creditors ratio outweighs debtors ratio. | Weakness;
Investor opportunities are not possible. |
| Opportunities; A recent government incentive is forcing jobseekers into work;
Government are putting more funding into infrastructure, which increases labour demand |
Threats; Suppliers have increased their costs,
Legislation changes to minimum wages |
Structure your report this way.
P2
1.1 Using the scenario within the assignment brief create your own mini scenario of your business, so you have a reference point.
Discuss the internal capabilities of your business (Remember this is a report so you can include tables and diagrams to present your work/findings) You could create a table or a spider diagram to display your capabilities (Remember the focus is internal capabilities, such as resources, create a table or a spider diagram to display your capabilities (Remember the focus is internal capabilities, such as resources, Human – employees, customers, suppliers Financial – Cash flow, creditors, debtors, investors Physical – computer bases, computer systems, building)Human – employees, customers, suppliers Financial – Cash flow, creditors, debtors, investors Physical – computer bases, computer systems, building) (150 words)
- Apply TWO of the following frameworks
SWOT to identify internal strengths, weaknesses, opportunities and threats (approximately 300 words)
Benchmarking – to identify how your capabilities compare with the competition (approximately 300 words)
P3
2.1 Apply porters 5 forces to your capabilities and apply porters 5 forces to your new business.
Your discussion within this section needs to be heavily focused on the competitive element, so your discussion needs to focus more on Competitive rivalry, threat of new entrants and threat of substitute products or services (Approximately 530 words)
P4
THIS IS MY ASSIGNMENT 1 STRATEGY PLAN. YOU CAN USE MY BULLET POINT OR YOU CAN MAKE YOUR OWN STRATEGY PLAN.
3.1 From your initial bullet point 5 year plan from assignment 1 and considering your research and findings at TWO of the following need to be applied to enable you to devise strategic planning for your business.
Example;
Diversification strategy probably takes place, when company or business organizations introduce a new product in the market. These strategies are known as diversification strategies.
Application of Diversification; Training and ups killing is high on the government’s agenda, therefore the business will begin offering short training courses for potential employees with a view to expand into the training sector. (approximately 330 words)
Focus strategy; focus strategy. A marketing strategy in which a company concentrates its resources on entering or expanding in a narrow market or industry segment. A focus strategy is usually employed where the company knows its segment and has products to competitively satisfy its needs. (approximately 330 words)
