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BTEC Higher National Diploma (HND) in Business Unit 7, Business Strategy

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I declare that, apart from properly referenced quotations, this report is my own work and contains no plagiarism; it has not been submitted previously for any other assessed unit on this or other courses.

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Learning outcomes and criteria covered by this assignment LO1 [7.1]: LO2 [7.2] LO3 [7.3] LO4 [7.4] Analyse how the business environment is considered in strategy formulation Understand the process of strategic planning Examine approaches to strategy evaluation and selection Analyse how strategy implementation is realised.

P1: [7.1.01]: P2: [7.1.02]: P3: [7.1.03]: P4: [7.1.04]: P5 [7.2.01]: P6 [7.2.02]: P7 [7.3.01]:

define the contexts of business strategy explain the significance of stakeholder analysis conduct an environmental and organizational audit of a given organization apply strategic positioning techniques to the analysis of a given organisation demonstrate an ability to think strategically prepare a strategic plan for a given organization, based on previous analysis evaluate possible alternative strategies- substantive growth, limited growth or retrenchment P8 [7.3.02]: select an appropriate future strategy for a given organization P9 [7.4.01]: compare the roles and responsibilities for strategy implementation in two different organisations P10 [7.4.02]: identify and evaluate resource requirements to implement a new strategy for a given organisation P11 [7.4.03]: propose targets and timescales for achievement in a given organisation to monitor a given strategy

M1 [7.1]: M2 [7.2]: M3 [7.3]: D1 [7.1]: D2 [7.2]: D3 [7.3]:

Identify and apply strategies to find appropriate solutions Select/design and apply appropriate methods/techniques Present and communicate appropriate findings Use critical reflection to evaluate own work and justify valid conclusion Take responsibility for managing and organizing activities Demonstrate convergent/lateral/creative thinking

London Olympic - A Threat or Opportunity.

Hosting international sporting events (such as Olympic Games, Commonwealth Games, Asian Games) today are central stages that not only feature professional athletes representing their country in competing for excellence, but also provide host nations with a universally legitimate way to present and promote their national identities and cultures on a global scale. London is going to host the 2012 Olympic Games, an event that is estimated to be worth over 2 billion in tourism revenue. It is predicted that the benefits of the Games will be felt across the whole of the UK, with London becoming the centre of the world's attention. Although the financial rewards appear immense, London will have to work hard in the next few years to fully reap the benefits of winning the opportunity to host the worlds biggest sporting event. The tourist association Visit Britain mentioned that in order to maximise the opportunities and deliver the best possible reception and experience of visitors, a dynamic partnership between Government and other stakeholders are essential. On the other hand, economy of UK is now experiencing a downturn. Consumer spending growth generally held up relatively well in the first quarter of 2008, but weakened thereafter as the effect of modest real disposable income growth, tighter credit conditions, a weakening housing market, lower employment levels and depressed confidence levels fed through. Both business and housing investment recorded marked declines during the second quarter. Buy one get one free, 50% off or 75% off are some common signs in high street shop windows. This is such an aggressive discount before the Christmas and New Year (www.pwc.co.uk). Changes in business environment can create competitive advantages; however they can also create new competitors. As there is many other factors in the environment, which influence competitiveness, sales, marketing; it is important to identify the sources that act as barriers in the UK business operation. UK needs to depend on overseas suppliers for many products related with small business. Transportation system, energy supply and telecommunication systems are getting expensive. Moreover, it often increases marketing and production cost. Bank loans are also difficult, which has created liquidity problems in all business sectors. This issue includes a detailed assessment of the impact of the economic downturn on the public finances. Significant tax increases or reductions in planned public spending growth seem likely to be needed in the medium term beyond 2010, but it makes sense in the short term for the government to allow borrowing to rise with the economic downturn. The overall business climate in UK is complex.

Assessment Task 1 Choose a UK based business organisation and briefly describe how the 2012 Olympic will influence the industry and its strategy (p1). An effective approach to study and research has been applied (M1). Hence you should also explain the significance of stakeholders (p2).

Use critical reflection to evaluate and understand the impact of stakeholders (D1)
You should also critically analyse the main trends in the strategic environment that have had an impact on your chosen companys mission and business strategy (p3). It is important to apply the strategic positioning techniques (p4). Assessment Task 2 Hence, you have to prepare a clear strategic plan for your chosen organisation, based on your analysis (p6). You have to demonstrate an ability to think strategically (p5).

It is important to evaluate possible alternative strategies (p7). An appropriate understanding & concepts of alternative strategies( M2)
Summarise the findings of your analysis and recommend a future corporate strategy that would be suitable, feasible and acceptable to the company (p8).

Relevant theories and techniques have been applied (D2)

You should also identify and evaluate resource requirements to implement a new strategy for the selected organisation (p10).

Present and communicate appropriate findings about resource requirements (M3). Hence, compare the roles and responsibilities for strategy implementation with competitors (p9). You should also propose targets and timescales for achievement in a given organisation to monitor a given strategy (p11). Demonstrate critical thinking for strategy monitoring and timescales (D3)

Assessments & Learning Outcomes:

Achievement of a pass grade A pass grade is achieved by meeting all the requirements defined in the assessment criteria for pass for each unit
Outcomes Assessment criteria for pass To achieve each outcome a learner must demonstrate the ability to: 2 Understand the process of strategic planning define the contexts of business strategy explain the significance of stakeholder analysis conduct an environmental and organisational audit of a given organization apply strategic positioning techniques to the analysis of a given organisation demonstrate an ability to think strategically prepare a strategic plan for a given organisation, based on previous analysis evaluate possible alternative strategies substantive growth, limited growth or retrenchment select an appropriate future strategy for a given organisation compare the roles and responsibilities for strategy implementation in two different organisations identify and evaluate resource requirements to implement a new strategy for a given organisation propose targets and timescales for achievement in a given organisation to monitor a given strategy

1 Analyse how the business environment is considered in strategy formulation

3 Examine approaches to strategy evaluation and selection 4 Analyse how strategy implementation is realised

Achievement of a merit grade All the assessment criteria and merit grade descriptors need to be completed within a unit to achieve a merit grade
Grade Descriptors Merit M1 In order to Achieve Learner Indicative Characteristics Must: The Learners evidence shows: Identify and apply strategies to find Relevant theories and techniques appropriate solutions have been applied Effective judgements have been made Complex problems with more than one variable have been explored An effective approach to study and research has been used Select/design and apply appropriate A range of methods and techniques methods/techniques have been applied

M2

 M3 Present and appropriate findings communicate

A range of sources of information used The Selection of methods and techniques/sources justified The design of methods/techniques justified Complex information/data have been synthesised and processed Appropriate learning methods /techniques applied Appropriate structure and approach has been used Logical and coherent arguments have been presented Technical language accurately used A range of methods of presentation has been used Appropriate media used Familiar and unfamiliar contexts have been used It is appropriate for familiar and unfamiliar audiences

Achievement of a Distinction grade All the assessment criteria merit and distinction grade descriptors must be completed within a unit to achieve a distinction grade.
Grade Descriptors Distinction D1 In order to Achieve Learner Indicative Characteristics Must: The Learners evidence shows: Use critical reflection to evaluate Synthesis has been used to generate own work and justify valid and justify valid conclusions conclusions The validity of results has been judged Self criticism of approach has taken place Evaluation has taken place using defined criteria Realistic improvements have been proposed against defined characteristics for success Take responsibility for managing Autonomy/ independence and organising activities demonstrated Sudstantial activities / projects or investigations have been planned, managed and organised Joint activities of others have been managed The unforeseen has been

D2

 D3 Demonstrate Convergent, lateral and creative thinking

accommodated The importance of interdependence has been recognised Ideas generated and decisions taken Self evaluation has taken place Convergent and lateral thinking have been applied Problems have been solved Capacity for innovation and creative thought has been used Receptiveness to new ideas have been demonstrated Unfamiliar contexts have been applied

Please note: 1. Your answer needs to be a fairly equal balance between theory and application. 2. Harvard system of referencing must be used. The sources of references can be from academic journals, books and industry sources. 3. Your answer must be in report format. 4. You have to cover all learning outcomes (p1 to p11).

Word limits 3000 words. You may include appendices; however they must be relevant and referred to in the main body of the report to be considered.

Information/feedback on assessment and grading criteria

Programme: BTEC Higher National Diploma (HND) in Business (H2)

Unit Number and Title: Module Tutor:

Unit 7, Business Strategy

Assessment criteria (Pass-P) P1: identify the mission, values and key objectives of an organisation and assess the influence of stakeholders P2: evaluate the extent to which an organisation achieves the objectives of three stakeholders P3: evaluate the extent to which an organisation achieves the objectives of three stakeholders P4: explain how economic systems attempt to allocate and make effective use of resource P5: discuss the impact of social welfare and industrial policy initiatives on organisations and the wider community P6: evaluate the impact of macro economic policy measures and the influence of the global economy on UK-based organisations and stakeholders P7: explain how market structures in practice deviate from the model of perfect competition P8: use a range of examples to illustrate the relationship between market forces and organisational responses P9: explain the behaviour and competitive strategies employed by an organisation and discuss the role of the Competition Commission and regulatory bodies P10: discuss the importance of international trade, economic integration and global markets to UK

Achieved Yes/No

Evidence Report/ Book Report/ Log Book Report/ Log Book Report/ Log Book Report/ Log Book Log

Feedback

Yes/No Yes/No Yes/No Yes/No

Yes/No

Report/ Log Book

Yes/No Yes/No

Report/ Log Book Report/ Log Book Report/ Log Book

Yes/No

Yes/No

Report/ Log Book

business organisations
P11: analyse the impact of two policies of the European Union on UK business organisation P12: explain the economic implications for the UK of entry into EMU Yes/No Yes/no Report/ Log Book Report/ Log Book

Grading criteria Destination-D)

(Merit-M;

Achieved

Evidence

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M1: Identify and apply strategies to find appropriate solutions M2: Select/design and apply appropriate methods/techniques M3: Present and communicate appropriate findings D1: Use critical reflection to evaluate own work and justify valid conclusion D2: Discuss the responsibilities for key business people and policy maker to manage strategies D3:Demonstrate convergent/lateral/creative thinking

Yes/No Yes/No Yes/No Yes/No Yes/No Yes/No

Report/ Log Book Report/ Log Book Report/ Log Book Report/ Log Book Report/ Log Book Report/ Log Book

Describe how the external factors you have identified are likely to affect the business in the future, what are the implications for the business over a specified period, how will these factors and subsequent responses affect business activities strategy, internal structures, functional activities and stakeholders of the organization

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