Management
1.1 Assess how business missions, visions, objectives, goals and core competencies inform strategic planning. 1.2 Analyse the factors that have to be considered when formulating strategic plans. 1.3 Evaluate the effectiveness of techniques used when developing strategic business plans. 2.1 Analyse the strategic positioning of a given organisation by carrying out an organisational audit. 2.2 Carry out an environmental audit for a given organisation. 2.3 Assess the significance of stakeholder analysis when formulating new strategy. 2.4 Present a new strategy for a given organisation 3.1 Analyse the appropriateness of alternative strategies relating to market entry, substantive growth, limited growth or retrenchment for a given organisation 3.2 Justify the selection of a strategy. 4.1 Assess the roles and responsibilities of personnel who are charged with strategy implementation. 4.2 Analyse the estimated resource requirements for implementing a new strategy for a given organisation. Analyse the terms and state the mission, vision, objectives, goals and core competencies of your chosen organisation or the organisation identified in the Shaping Your Future section. (1.1) Guidelines: In your answer, you should : • Define each of the terms , mission, vision, objectives, goals and core competences; • Provide evidence of your chosen organisations mission, vision, objectives, goals and core competencies and analyse how each of these inform strategic planning. Analyse the key factors that needed to be considered when designing strategic plans for the organisation identified in the Shaping Your Future section. (1.2) Guidelines: In your answer, you should : • Define strategic planning • Analyse at least three factors that need to be considered in the strategic planning stage Evaluate at least two different planning techniques which you could apply to your chosen organisation or the organisation identified in the Shaping Your Future section. (1.3) Guidelines: Your answer should also include : • Definition and description of at least two different planning techniques, for example, the PIMS or stakeholder mapping, SPACE or BCG matrix. • Evaluate two of the above Total task word count: Minimum: 450 Maximum: 500 Questions for Merit M1 1. One of the many techniques used by companies to assess their performance is benchmarking. a. Identify some of the types of benchmarking and analyse at least four of the stages used in benchmarking. b. Identify some of the questions companies need to ask when selecting benchmarking techniques. c. Briefly analyse two advantages of benchmarking. OR 2. Identify the seven elements in McKinsey’s model (7s) and analyse how the seven elements are interconnected to achieve effectiveness in a company. Task 2: Be able to formulate a new strategy This task offers you the opportunity to achieve LO2: 2.1, 2.2, 2.3, 2.4 M2,M3,D2 Conduct an organisational audit for the organisation identified in the Shaping Your Future section by carrying out a SWOT analysis and analysing its the strategic positioning. (2.1) Guidelines: In your answer, you should : • Identify the strengths, weaknesses, opportunities and threats for your chosen organisation and analyse its strategic positioning Conduct an external environmental audit of the organisation identified in the Shaping Your Future section by carrying out a PESTEL analysis. (2.2) Guidelines In your answer, you should : • Describe the factors of PESTEL – Political, Economic, Social, Technological, Environmental and Legal • Provide an example of each for the organisation identified in the Shaping Your Future section Define and assess the significance of stakeholder analysis with reference to the organisation identified in the Shaping Your Future section. (2.3) Guidelines: In your answer, you should : • Define the term stakeholder • Explain stakeholder analysis • Assess the importance of stakeholder analysis for the organisation identified in the Shaping Your Future section Design a new strategy for the organisation outlined in the Shaping Your Future section. (2.4) Guidelines In your answer, you should include: • A definition of strategy • Detail the strategy you have selected using either one from generic or competitive strategies Total task word count: Minimum: 400 Maximum: 500 Question for Merit M2 and M3 Design a new strategy for the organisation outlined in the Shaping Your Future section. (2.4) Guidelines In your answer, you should include: • A definition of strategy • Detail the strategy you have selected using either one from generic or competitive strategies Total task word count: Minimum: 400 Maximum: 500 Task 3: Understand approaches to strategy, evaluation & selection This task offers you the opportunity to achieve LO3: 3.1, 3.2 and D1 Analyse four strategic options available and explain how they may be implemented by the organisation outlined in the Shaping Your Future section. Select one strategic option and apply it to the organisation outlined in the Shaping Your Future section. Justify your selection. (3.1 and 3.2) Guidelines: In your answer, you should: • Discuss a market entry strategy • Discuss substantive growth strategies which can include related and unrelated diversification. • Discuss limited growth strategies which can include strategies such as market penetration and market development • Discuss retrenchment which can include turnaround strategies, divestment, and liquidation • Analyse how one of these strategies could be implemented in the organisation outlined in the Shaping Your Future section. • Justify your answer Total task word count: Minimum: 350 Maximum: 450 Questions for Distinction: D1 Critically reflect on the limited growth strategies which can include strategies such as market penetration and market development (in general). Guidelines In order to complete the above task your answer should: • Consider the use of the Product Growth Matrix by Ansoff. • Form an opinion about these strategies and their usefulness. NB: When the question refers to an organisation, the learners will need to discuss their organisation as detailed in the Shaping Your Future section above Task 4: Understand how to implement a chosen strategy This task offers you the opportunity to achieve LO4: 4.1, 4.2, 4.3 D3 Focusing on your recommendation in Q3.2, assess the roles and responsibilities needed to implement the suggested future strategic plan. (4.1) Guidelines: In order to complete the above task, your answer should include: • A discussion about the activities needed to implement the plan • A discussion about the roles and responsibilities you require to implement the plan • Assess the different roles and the responsibilities needed to implement the plan. Identify and evaluate the resource requirements that you will need to implement a new strategy within your chosen organisation or the outlined in the Shaping Your Future section.(4.2) Guidelines: In your answer, you should include an: • Evaluation and identification of human resources needed in order to implement the strategic plan • Evaluation and identification of financial resources needed in order to implement the strategic plan • Evaluation and identification of time and material resources needed in order to implement the strategic plan. Evaluate the role that SMART target’s play in helping you achieve and implement your planned strategy. Guidelines: In your answer, you should include: • A definition of SMART targets • An evaluation the importance of setting SMART targets and how this contributes to the implementation of the strategy • Examples in your answer. Total task word count: Minimum: 350 Maximum: 450
