1.1 Plan the development of the mission statement, vision statement, objectives, goals, business core competencies and explain their importance to the stakeholders

UNIT SEVEN Business Strategy (15) STUDENT’S NAME:

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Learning outcomes

On successful completion of

this unit you will:

Assessment Criteria:

 

 

LO1

Understand the process of

strategic planning

1.1 Plan the development of the mission statement, vision statement, objectives, goals, business core competencies and explain their importance to the stakeholders

1.2 review the issues involved in strategic planning

1.3 explain different planning techniques

LO2

Be able to formulate a new strategy

2.1 Conduct an audit for the business and report on the findings

2.2 carry out an environmental audit for the business and report on the findings

2.3 explain the significance of stakeholder analysis

LO3

Understand approaches to

strategy evaluation and

selection

3.1 analyse possible alternative strategies relating to

substantive growth, limited growth or retrenchment

3.2 select an appropriate future strategy for the business

3.3 prepare a business presentation using suitable software and techniques to disseminate information effectively

3.4 produce a formal business report

LO4

Understand how to

implement a chosen strategy

4.1 compare the roles and responsibilities for strategy

implementation

4.2 evaluate resource requirements to implement a new

strategy for the Business

4.3 discuss targets and timescales for achievement

to monitor the said strategy.

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