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Diploma in Business
Unit Number and Title
Unit 7 Aspect of Business Strategy
This unit 7 aspect of business strategy assignment is to assist in building an individual’s existing knowledge of basic tools of business analysis as well as assessing their capability for strategic thinking. There is a need for demonstrating their familiarity with strategic planning through a stakeholder analysis in respect of a particular organisation. There will also be the implementation as well as controlling of a strategic plan.
Week 1 - here was the introduction for the concept of strategy in the first week. Strategy can be explained as the action plan that was pre-determined for attaining a specific vision or goals associated with the organisation. Direction as well as purpose is provided by strategy for the actualization of organisational goals. Strategy assists not just towards the enjoyment of competitive advantage over the competitors but also refers to the changing aspects that concerns the environment related with business. There is the existence of both short term as well as long term strategic aspects. Various strategic levels take into consideration the ‘Business Level’, ‘Functional Level’ and ‘Corporate Level’.
Week 2 - There was the introduction of the aspect related with Corporate Strategy Model in Week 2. Porter had introduced two processes for the development of a strategic management plan viz. Porter’s Five Forces as well as PESTEL Analysis. PESTLE Analysis is addressing the external issues related with a business where each letter of term ‘PESTEL’ denotes a particular issue influencing the business which are political, economic, social, technological, environmental and legal. Porter’s Five Forces theory is providing five assessment criteria which are competitive rivalry related with business, supplier’s bargaining power, customer’s bargaining power, threats related with new entrants and threats from substitutes. (Bhandari, 2016)
Week 3 - An insight is provided on the aspects related with competitive advantage in the third week. Competitive advantage is referring to the discrete beneficial aspect that a specific business or organisation is enjoying over its competitors pertinent to that specific industry. It is also does the introduction of the concept associated with Strategic Capability. The segregation can occurs in three segments which are human, physical as well as financial.
Week 4 - The different issues affecting the strategic organisational purposes are introduced in the fourth week. Importance is laid on the ownership concept. There is the discussion on the basic of corporate governance. In the present scenario, the role of Corporate Social Responsibility aka CSR as well as the importance that the shareholders are having in an organisation or business are evaluated in short.
Cage Distance Framework
Mergers & Acquisitions
Strategic Alliance - It is considered as an agreement between two or more parties for pursuing a set of goals that are agreed upon, required while staying as organisations that are independent. This type of cooperation occurs within mergers and acquisitions as well as organic development. There is the formation of the equity alliances when one organisation attains another organisation’s equity stake and vice versa. An organisation’s acquired share is considered as a negligible equity share, such that the power of making decisions is remaining with the respective organisations. Strategic alliances related with non-equity will be covering an extensive field of probable cooperation amongst organisations. This will be ranging from close association within customers as well as suppliers, for the outsourcing of certain corporate tasks or licensing, for extended networks in respect of research and development. (Bain, 2015)
Diversification - This is considered as a corporate strategy for entering into a new market or industry which the business is not presently associated with, and simultaneously creating a new product in respect of the new market.
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Top down Planning
Bottom up Planning
Types of Resources
Strategic Management Model - The different elements indicated by different strategic management take into consideration,
Significance of Feedback
Feedback is considered as one of the most significant scenarios related to the method of effective communication. Feedback makes sure that the total process of communication cannot get completed without feedback since the method will be uncertain. Considering the managerial aspects, different examples of feedback can be considered. Reporting of the subordinates to their developing manager as well as managers to their seniors and so on regarding daily activities as well as functional modes is an example for feedback. Attainment of information out of systems related with assessment and measurement, feedbacks from customers, information from peers as well as colleagues and so on are all examples of different aspects of feedbacks that are prevailing within the management of a company. In this regard, there will be the consideration of the following factors which are mentioned as under,
Article for Week 1 - Week 1 is discussing about the strategic concepts as well as its business implementation. The article that is being considered for justifying the discussion in class is the strategic aspect that Microsoft is implementing for pulling out from the ‘feature phone business’.
Article for Week 2 - Week 2 is discussing about Porter’s concept related with PESTEL analysis as well as Five Forces. The discussed article is the one featured in BBC where explanation is provided by Porter as to why and where the Five Forces are generated from.
Article for Week 3 - Week 3 is discussing as well as analyzing the aspect of competitive advantage. The article that is being considered here is the one featured in BBC where an efficient summary is provided on the ways by which businesses are trying to enjoy competitive advantage over its competitors by tapping interested customers on social media. (BBC, 2014)
Article for Week 4 - Week 4 is introducing the aspect related with Corporate Social Responsibility aka CSR and in what ways it influences the business as well as the process associated with strategic management. The article that is considered here is taken from BBC in which the CSR value is measured efficiently as well as evaluated.
Article for Week 5
Article – Product Differentiation
A product portfolio is considered as the various items that a business is selling. Its analysis can occur with the help of Boston Matrix. In a rapidly growing market, star products are having high market share. In a slow growing market, cash cows are having an increased market share. In rapidly growing markets, question marks or problem children products are having a low market share. In slow growing markets, dogs are considered as products with a low market share.
Article for Week 6
Article – Global Sourcing: Another skill for critical purchasing
Various organizations face maturing domestic markets while observing an evidently limitless potential for development in markets that are emerging. Better communications technologies are driving them as well as advance that are altering the economics related with transportation and scale of manufacturing. In addition, shifting of public policy as well as regulatory attitudes creates more open markets all through the world. (Amadeo, 2016). The outcome – There is spreading of globalization from one industry to another.
Article for Week 7
Article – Gambling Industry betting on mergers and acquisitions
In 2015, a raft of big deals included the £2.3 billion tie-up amongst Gala Coral and Ladbrokes in July, a £6 billion merger between Paddy Power and Betfair in August, as well as £1.1 billion acquisition of GVC of Bwin party in September. Analysts state that ‘mergers and acquisition frenzy’ is sweeping the UK. As a matter of fact, towards August, there were more mergers and takeovers in UK’s gambling sector in comparison to any other country.
Article for Week 8
Article – Sparking innovation from the bottom up
It is dealing with the fascinating idea of Robert Henriquez. It is bringing out the significant aspects of bottom up approach. It is discussing about the importance of actualizing staff involvement.
Article for Week 9
In this respect, Feedback is considered as the best gift that the employees can receive from their senior leaders. The following aspects are depicted by this article which are,
The units that were discussed in the class were a lot self-descriptive and there was very less complexity faced for preparing the portfolio. On the other hand, there was no mentioning of the range that strategic implementation in Week 1 is covering and as a result, it was a little tricky for understanding the opportunity related with the first module. It was also a little implausible to find a specific article for justifying the second module that consisted of PESTEL analysis as well as Porter’s Five Forces Theory since it is a technical topic and adequate relevance cannot be found in respect of articles. The third module preferably, could have been a little bit vaster in respect of material since various matters are discussed about in this week. Very few problems were encountered in the final module from week 4 and as a result, getting an article having the relevance was also not a problem since one of the concepts that were being discussed about was Corporate Social Responsibility aka CSR and it is a common as well as well-known phenomenon in respect of companies as well as business environment throughout the world. A lot of information was accumulated in knowing how the BCG, Ansoff as well as McKinsey Matrix are providing assistance in the way of management. It was, on the other hand, a little bit challenging in finding a pertinent article based on this matter. To find articles in respect of mergers and acquisitions was considerable easy since there exists various examples to relate with as well as in the process getting to understand the driving issues that urges an organisation for acquiring or merging with another.
This assessment delves with the aspect of business strategy where a personal portfolio has been created. In this regard various topics have been discussed. After that, an interesting as well as relevant article is being chosen every week depending on the discussed topic. Along with that, a self-reflection is created that reflects on what has been learnt as well as the various challenges that were faced when researching for or creating the portfolio.
Alsop, R (2013), Sparking innovation from the bottom up, [Online], Available at: http://www.bbc.com/capital/story/20131125-sparking-innovation-from-bottom, Accessed on: 22nd July, 2016.
Amadeo, K (2016), What is Competitive Advantage? [Online], Available at: http://useconomy.about.com/od/glossary/g/Competitive-Advantage.htm, Accessed on: 22nd July, 2016
Bain, (2015), Core Competencies, [Online], Available at: http://www.bain.com/publications/articles/management-tools-core-competencies.aspx, Accessed on: 22nd July, 2016.
BBC (2016). The Handy Guide to Gurus of Management. [Online]. Available at: http://www.bbc.co.uk/worldservice/learningenglish/work/handy/porter.shtml, Accessed on: 22nd July, 2016
BBC, (2014), Product Differentiation, [Online], Available at: http://www.bbc.co.uk/schools/gcsebitesize/business/marketing/brandingandpackagingrev3.shtml, Accessed on: 22nd July, 2016
Bhandari, (2016), Strategic management: A Conceptual Framework,Tata McGraw-Hill Education.
Bradley, J (2016), Types of Corporate Level Strategy, [Online], Available at: http://smallbusiness.chron.com/types-corporate-level-strategy-60147.html, Accessed on: 22nd July, 2016.
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