Business strategy assignment

Task 1( AC 1.1, 1.2 1.3):

AC 1.1 Define Business strategy, Vision and Mission. Choose an UK Business organization and briefly explain how its business strategies are related to their Vision, Mission, scope and business environment.

Any business is born of the will of man / some people, then develops and operates, being led by this person / these people. Business success depends heavily on the quality of management.

The vision is, in fact, the ultimate goal towards which his business entrepreneur and the way he decided to start to achieve the vision and strategy is firm.

The mission must describe the requirements of the external environment and so, to answer the question "Why are we in this business?". It reveals the basic direction of company. Its content must reflect the possibility of satisfying consumer needs and even attract new consumers. Mission determines strategies for activities.

The objectives define the company's activities, which the manager wishes to achieve. Since the objectives are the most important means for directing company, it is important that they be realistic, managers and employees can be confident of achieving the objectives.

Therefore, the objectives must be measurable, time-bound and prioritized. The objective is the goal (target indicators) that tends to touch him company.

Source: [sbuweb.tcu.edu/.../Vision%20and%20Mission%20Statement%202012].

As a top company in the Food industry Kellogg specialize in Food processing including products such as Cereals, Cookies and Crackers. The general business activity and principal products or commercial enterprise of Kellogg are categorized as being part of the Food Industry.

Kellogg Company’s Vision and Mission statements define our focus upon sustainable growth, our broadened definition of social responsibility and the true strength of our company – our people and our brands.

• Our Vision encompasses the full spectrum of our stakeholders including shareowners, employees, customers, consumers and communities.

Kellogg's Vision: To enrich and delight the world through foods and brands that matter.

• Our Mission articulates where we are as a company today and where we wish to be in the future.

Kellogg Mission Statement:

"Kellogg is a global company committed to building long-term growth in volume and profit and to enhancing its worldwide leadership position by providing nutritious food products of superior value.

How do we uphold this mission? Our world-class leadership is dedicated to a management philosophy that holds people above profits. And they're committed to an advertising and marketing philosophy that helps ensure the Kellogg name is associated with wholesome, truthful advertising."

Our Vision and Mission do not stand alone. They are integrated with our focused strategy and operating principles as well as the foundations of our business: our K Values, people and commitment to social responsibility.

AC1.1 and 1.2

a) Identify the steps of Strategic planning. Briefly explain if strategic planning is a one off issue or a continuous process.

Strategic planning is a process of an organization consisting of a set of procedures, methods and tools by which the organization defines its strategy to be adopted and take decisions on the allocation of resources between different activities (products). The starting points of the strategic planning process are analyzing the external environment of the organization and internal environmental analysis. The strategic planning process helps to coordinate the formulation and implementation of strategy.

Strategic planning is the process by which managers determine the long-term direction and performance of the organization, ensuring the achievement of a careful formulation, a correct implementation and an evaluation. There are many models of the strategic management process. The model that meets the most widely accepted is the one developed by LWRue and Phyllis G.Holland, showing the constituent phases:

° The current situation, vision and mission: "Situation analysis" is based on identifying the vision and mission of the company, aiming to identify past and present strategy, in order to determine whether it meets current and future conditions and whether any strategy used in the past and need to be maintained or corrected changed. Also during this phase is a diagnosis of past performance and present, in order to assess whether the strategies applied gave the expected results. For this purpose it uses a system of indicators: level of profitability, leverage, debt recovery, etc.

° Examining prospects: "Examination outlook", based on the findings of the first phase and analysis of the company's external environment and internal environment of its establishing a set of long-term goals. Such long-term objectives specified products to be manufactured, markets, costs, launching new products, the return on investment, social actions, the size of profits, time to achieve the objectives etc.

° Establishing strategic alternatives, compare and choices: "Establishing strategic alternatives and comparing them" covers several alternative development strategies, comparing them and adopt the strategy considered best for the future period. Analysis of various strategic alternatives should take account of the feasibility of their limitations imposed by the event of resources, business expansion opportunities, and the ability to face the inherent risks.

° Implementation of the strategy adopted: "The implementation of the adopted strategy" involves taking all measures to enable making full use of the strategy adopted both by clearly defining functional strategies (strategies of production, cost strategies, marketing strategies, human resources strategy, etc.) and by applying measures the institutionalization of organizational and technical strategy. Strategy Implementation takes place through programs, budgets and procedures.

° Evaluation and control strategy: "Evaluation and control strategy" involves, essentially, analysis and tracking the operational controls strategy components that do not work properly or that hinder its application and, on this basis, take measures to eliminate them. Assessment and control strategy must be active and operative character, the conclusions should have been followed by technical and organizational measures to correct the strategy, if any, or the removal of shortcomings noted.