Q

Unit 32 Business Strategy - level 5 in business

Unit 32 Business Strategy Assignment Help - Seeking Unit 32 Business Strategy Assignment Help - level 5 in business - Get Experienced tutors and writers here!
Previous << >> Next

Unit Name: Unit 32 Business Strategy

Level: level 5 in business

Achieve Academic Success with Our Expert HND Assignment Help - Your Trusted Partner for High-Quality Solutions and Top Grades!

TASK 1

1.1 Explain the concept of strategy, vision, mission, goals, objectives and core competencies.

Answer: An organization's purpose and direction are derived from a combination of interrelated factors known as strategy, vision, mission, goals, objectives, and core competencies. A mission statement describes the goals and objectives of the company, whereas a vision statement describes the ideal future condition. While objectives are more targeted, measurable, and reachable aims that help achieve goals, goals are more general, long-term outcomes that support the mission. The distinctive traits and skills that set a company apart and help it accomplish its goals are referred to as core competencies. The complete plan that unifies these components and outlines how the organization will prioritize its efforts, distribute resources, and use its core capabilities to achieve its goals and vision is called a strategy.

1.2 Review the issues involved in strategic planning.

1.3 Explain different planning techniques that organisations can use

Answer: Different planning strategies can be employed by organizations to meet their objectives and needs. In order to be ready for unforeseen events, scenario planning entails imagining possible future situations. SWOT analysis finds possibilities and dangers from the outside as well as internal strengths and weaknesses. Mind mapping helps with creative planning by creating visual connections between ideas and concepts. By using break-even analysis, one can ascertain the equilibrium between expenses and revenues. Through benchmarking, an organization's performance is compared to best practices or industry standards. Planning for the unexpected helps avoid catastrophes or unforeseen situations. Differences between the desired and present states are found via gap analysis. Potential decisions and outcomes are represented by decision trees. Six Thinking Hats investigates various viewpoints and concepts. PESTLE analysis looks at outside variables such as the economics, politics, and technology. These techniques enable organisations to approach planning in a structured and methodical way, ensuring a comprehensive and effective planning process.

Achieve Excellence with Our Unit 7 Business Strategy Assignment Help - Elevate Your Pearson BTEC Level 5 HND Diploma in Business by Hiring Skilled UK Writers for Top Grades and Expert Guidance!

TASK 2

2.1 Produce an internal organisational audit of Apple evaluating their strengths and weaknesses.

Answer: Apple's internal organisational audit reveals a company with significant strengths, including its strong brand loyalty, innovative product design, and robust financial performance. Apple's commitment to research and development has yielded groundbreaking products like the iPhone and MacBook, driving customer loyalty and retention. Additionally, its global supply chain management and strategic partnerships enable efficient production and distribution. However, weaknesses include dependence on a limited product line, high research and development costs, and criticism over labor practices in its supply chain. Furthermore, Apple's closed ecosystem, while secure, can limit customer choice and innovation. The company's high pricing strategy also risks alienating budget-conscious consumers. Finally, Apple's reliance on key executives, like Tim Cook, poses a risk if they were to leave the company. Addressing these weaknesses while leveraging its strengths will be crucial for Apple's continued success.

2.2 Carry out industry analysis of Apple using Porter's 5 Forces framework, and conductandenvironmental analysis of its macro environment usingPESTELmodel, clearly identifying Opportunities and threats present in the external environment.

2.3 Explain the significance/importance of stakeholder analysis.

Unlock Success with Our Strategic Management Assignment Help for T/507/8228 - Elevate Your OTHM Level 7 Diploma in Strategic Management and Leadership with Expert Support and Guidance!

TASK 3

3.1 Analyse possible alternative future strategies of Apple relating to substantive growth, limited growthandretrenchment.

Answer: Apple's future strategies can be analyzed through three possible scenarios: substantive growth, limited growth, and retrenchment.
Substantive Growth:
- Expand into new markets, such as emerging economies or underserved demographics
- Diversify product lines, like entering the automotive or healthcare industries
- Enhance services segment, including Apple TV+, Apple Music, and Apple Arcade
- Acquire complementary companies to bolster innovation and capabilities
- Invest in artificial intelligence, augmented reality, and other emerging technologies
Limited Growth:
- Focus on incremental updates to existing products, like iPhones and Macs
- Consolidate market share in existing markets, emphasizing customer retention
- Optimize operational efficiency, streamlining supply chain and manufacturing
- Expand services segment, but at a slower pace
- Maintain current brand positioning, avoiding risky innovations
Retrenchment:
- Focus on core products, discontinuing less profitable lines like Apple Watch or iPad
- Reduce geographic presence, exiting less profitable markets
- Downsize workforce, streamlining operations and reducing costs
- Emphasize high-margin products, sacrificing market share for profitability
- Consider divesting non-core assets or business units
Each scenario carries risks and opportunities. Substantive growth offers potential for significant expansion but requires substantial investment and innovation. Limited growth provides stability but may lead to stagnation. Retrenchment can restore profitability but risks damaging the brand and limiting future growth. Apple's chosen strategy will depend on its risk tolerance, resources, and vision for the future.

Secure Superior Grades with Our Trusted Unit 12 Strategic Planning Assignment Help - Your Path to Excellence and Academic Success!

TASK 4

4.1 Compare the roles and responsibilities of the different levels ofstrategyadopted in 3.2

4.2 Evaluate what resources will be required to implement Apple's chosen strategy.

Answer: Implementing Apple's chosen strategy will require a combination of resources, including financial, human, technological, and physical assets. Financial resources will be needed to invest in research and development, marketing, and potential acquisitions. Human resources will be required to hire and train new employees, particularly in areas like artificial intelligence and augmented reality. Technological resources, such as advanced manufacturing equipment and software, will be necessary to support product innovation and expansion into new markets. Physical resources, including manufacturing facilities, data centers, and retail stores, will need to be expanded or upgraded to support growth. Additionally, Apple will need to leverage its existing resources, such as its strong brand, customer loyalty, and partner network, to maximize efficiency and effectiveness. Effective allocation and management of these resources will be crucial to successfully implementing Apple's chosen strategy and achieving its goals.

4.3 Discuss the importance of targets and timescales to monitor the successful achievement ofheadopted strategy for Apple.

Want to Excel in Course? Hire Trusted Writers for Help! —> https://miracleskills.com/

Lists of comments

Leave a comment


Captcha